Hyperliquid (HYPE)

Decentralized perps exchange with a fully on-chain order book — the biggest perp volume outside centralized exchanges. The token captures the exchange's own fees.

FM on-chain score

+18neutral

proprietary read · up to 24h delayedlive score in the terminal →

buzz social otimista (81/100)

A synthesis of derivatives, on-chain flow, smart money and social into one number from −100 to +100. Not financial advice — see the methodology.

Competes with

revenue 30d · public data up to 24h delayed

Hyperliquid

$63.52MP/F 31.1×

Lighter

$4.93MP/F 10.5×

GMX

$4.75MP/F 4.3×

See the full sector: Decentralized Exchanges (9 tokens) →

Market

Daily snapshot · data up to 24h delayed

Price

$92.14

24h

+1.38%

Market cap

$22.06B

24h volume

$3.08B

Derivatives

data up to 24h delayed

Funding APR · 18 exch.

+18.44%

Taker buy pressure

51.5%

CVD (cum. delta)

−$589.63M

Open interest

$3.88B

Spot ETF

daily flow · up to 24h delayed

Flow (last day)

−$4.30M

7-day flow

−$12.20M

Fundamentals

data up to 24h delayed

Revenue 30d

$61.08M

Revenue 12m

$682.16M

TVL

$2.64B

Mcap / annual revenue

32.3×

Where to earn on your HYPE

variable APY · up to 24h delayed

Kinetiq KhypeKHYPE · Hyperliquid L1

1.98% APYTVL $969.40M

APY floats with the network. Not a recommendation — it's the map so you can decide. Live data in the VIP terminal →

Full written thesis available in Portuguese for now — all data above is global.

Fundamental analysis

on the Financial Move blog · in Portuguese

Hyperliquid (HYPE): Vale a Pena? Análise Completa

O Hyperliquid (HYPE) é a exchange descentralizada de perpétuos mais dominante do mercado cripto, construída sobre sua própria blockchain Layer 1 customizada. Capaz de processar mais de 200.000 ordens por segundo com confirmação quase instantânea e sem taxas de gas, o Hyperliquid combina a velocidade de uma exchange…

Tasso Lagoupdated May 01, 2026Read the full analysis →