Hyperliquid

Hyperliquid HYPE

Status: ListedPerpetuals DEX
Token GradeBBB
Overall Score: 34.8 /100Rank: 60 of 172
Disclosures BBB4.70 /10
Performance AA7.40 /10

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Disclosures overview

Core Contributors

Legal & Financial

Tokenomics

Service Providers

Performance overview: market quality

Total Volume (as % of Market Cap)

Market Cap (USD)

Trade Volume (USD)

Trade Volume (prev. 30d avg)$2,333,261,590
Market Cap (prev. 30d avg)$18,606,253,772
Trade Volume / Market Cap11.66%
GradeAAAScore10.00Percentile100.00%

Depth +/- 2% (as a % of Market Cap)

Depth +/- 2% (USD) | Market Cap (USD)

Depth +/- 2% (prev. 30d avg)$196,545,064
Market Cap (prev. 30d avg)$18,606,253,772
Depth / Market Cap1.12%
GradeAAAScore8.00Percentile15.20%

Bid / Ask Spread (volume weighted spreads)

Bid / Ask Spread (%)

Exchange with Tightest SpreadsHyperliquid
Volume Weighted Bid / Ask Spread (prev. 30 days)0.0305%
GradeAAAScore10.00Percentile100.00%

Price Performance

30D Change: -15.39%

Price (USD)

Count Green Candles15
Count Red Candles15
Candle "Win Rate"50.00%
GradeAAScore6.00Percentile85.21%

Open Interest (as a % of Market Cap)

Top Venues by OI (prev. 30d avg)

Hyperliquid$1,684,229,353
Binance$360,172,889
Gate$316,134,834
Total (All Exchanges)$3,682,966,524
Open Interest / Market Cap18.04%
GradeAAAScore9.00Percentile63.29%

Funding Rate

Funding Rate (%)

Open Interest-Weighted Funding Rate+0.0084%, longs pay shorts
GradeAAScore7.00Percentile84.71%

Performance overview: liquidity providers

Data not disclosed

Market Maker Volume (as a % of total volume)

N/A
GradeAAA
Score10.00
Percentile100.00%

Market Maker Depth (as a % of total depth)

N/A
GradeAAA
Score10.00
Percentile100.00%

Market Maker Uptime / KPI Adherence

N/A
GradeAAA
Score10.00
Percentile100.00%

Performance overview: liquidity footprint

Top-Tier Exchange Coverage

3 out of 4 (75%)BinanceOKXCoinbaseUpbit
GradeAAAScore8.00Percentile57.89%

Total Volume (CEX vs DEX)

Volume (USD)

CEX Volume (avg)$270,839,513
DEX Volume (avg)$55,844,539
CEX Volume share75.33%
GradeAAAScore10.00Percentile100.00%

Total +/- 2% Depth (CEX vs DEX)

+/- 2% Depth (USD)

CEX Depth (avg)$121,959,021
DEX Depth (avg)$689,492
CEX Depth share99.34%
GradeAScore5.00Percentile57.31%

Total Volume (Spot vs Perps)

Volume (USD)

Spot Volume (avg)$326,684,052
Perps Volume (avg)$2,065,467,655
Spot Volume share11.75%
GradeAAScore6.00Percentile12.87%

Total +/- 2% Depth (Spot vs Perps)

+/- 2% Depth (USD)

Spot Depth (avg)$122,648,513
Perps Depth (avg)$104,034,143
Spot Depth share48.24%
GradeAAAScore9.00Percentile9.94%

Performance overview: tokenomics

Disclosed token vesting vs actual vesting

Disclosed TGE DateN/A
Disclosed Duration36 months
Disclosed Total Groups6
Disclosed Max. SupplyN/A

Disclosed Maximum Token Supply (%) | Months Since TGE

Commentary versus actual token vesting

The project has never published a release rate or cadence for the 23.8% core-contributor allocation. The monthly-on-the-6th cadence is known only from a Discord comment relayed by press. A team member confirmed "the vesting is not linear." A schedule stated to be non-linear with no published curve is an acknowledgement that the release rate is undisclosed, not a disclosure of it.

GradeCCCScore0.00Percentile100.00%

Market Cap vs FDV (ratio)

0.23:1
GradeBB
Score4.00
Percentile16.96%

Fully Diluted Valuation (FDV) (USD)

$74,631,316,360
GradeAAA
Score10.00
Percentile100.00%

Annualized Rate of Inflation

53.50%
GradeCCC
Score1.00
Percentile41.30%

Buyback & Burn Events

95,749,858 tokens
GradeAAA
Score10.00
Percentile100.00%
Data as of 2026-10-27Scoring config v4Rated 172 of 173 projects

UTR scores evaluate disclosure quality and token market structure. The score is informational and should not be interpreted as an assessment of expected returns or as an investment recommendation.