Hyperliquid (HYPE) price today

HYPE price now

HYPE perp mark · USD

$82.77

-4.68% 24h

24h volume, perp

$709M

24h volume, 4 spot pairs

$81.1M

Open interest (one side)

$917M

11.08M HYPE

Funding, per hour

0.00125%

Max leverage 10x

Market cap (circulating)

$25.0B

Fully diluted (1B)

$82.8B

Hyperliquid API, as of 2026-11-05 10:15 UTC · refreshes every 15 seconds while this tab is open

Changes compare the current mark with the daily close that many days ago. Highs and lows are daily perp candles since December 5, 2024, when the API's HYPE perp candle history begins; HYPE itself launched on November 29, 2024. Past moves say nothing about future ones.

Why this page uses the perp mark

HYPE trades in several places on Hyperliquid, and they can disagree for a moment. The perp mark is the price Hyperliquid uses to value positions and trigger liquidations, and the HYPE perp is the deepest HYPE market on the venue ($709M in 24 hours against $81.0M on HYPE/USDC spot). Hyperliquid's oracle docs use HYPE as the example of an asset whose main spot market is Hyperliquid's own, so its oracle leaves out outside exchanges until they have enough liquidity. A thin pair can mislead: at the snapshot HYPE/USDH showed a mark of $63.13 with no live quotes and no volume. For trading the perp itself (leverage, funding, fees) see trade the HYPE perp.

Supply and market cap

HYPE has a hard cap of 1 billion tokens. Hyperliquid's API reports the rest itself through its tokenDetails call, which is what the table shows. The figures fit together exactly: circulating supply equals total supply minus the future-emissions reserve minus the listed non-circulating balances (we check that on every build).

Hyperliquid API tokenDetails for token ID 0x0d01dc56dcaaca66ad901c959b4011ec (index 150), 2026-11-05 10:15 UTC.

• Market cap here is circulating supply times the perp mark: $25.0B. Fully diluted value is the 1B max supply times the mark: $82.8B.
• The Assistance Fund is the main reason sites disagree. Hyperliquid's fee docs say HYPE in the fund "is burned, removing the tokens permanently from the circulating and total supply". The API's totalSupply still includes the fund's 48.68M HYPE; it lists them as non-circulating instead. Treat the fund as burned and total supply is about 950.1M.
• The largest non-circulating balance, 0x43e9abea1910387c4292bca4b94de81462f8a251, holds 238.3M HYPE. The API doesn't label it; its size matches the 23.8% core-contributor allocation Hyperliquid announced before genesis (The Block, 28 November 2024). Contributor tokens vest into circulation over time, on a schedule Hyperliquid hasn't published in its docs.
• Supply changes slowly in both directions. Staking rewards are paid out of the future-emissions reserve, vesting moves tokens into circulation, and HyperEVM gas burns plus the Assistance Fund take tokens out. More on this in the HYPE token explained.

Staking

HYPE secures Hyperliquid's chain through proof of stake: holders delegate HYPE to validators and earn rewards from the future-emissions reserve. Staking also cuts your trading fees, by 5% above 10 HYPE staked up to 40% above 500,000.

HYPE staked

439.4M

44.0% of total supply

Validators

35

27 active, 6 jailed

Yield to delegators

2.13%–2.24%

API predicted APR, after commission

Top 3 validators' share

36.1%

Largest: Hyper Foundation 2

Hyperliquid API validatorSummaries, 2026-11-05 10:15 UTC. Full table: HYPE staking and validators data.

The yield falls as more HYPE is staked. Hyperliquid's staking docs say the reward rate is inversely proportional to the square root of total stake, about 2.37% a year at 400M staked. At 439.4M staked that formula gives about 2.26% before commission, in line with the API's figures. Rewards accrue every minute, are paid daily and compound automatically.

Know the exits before you stake: a delegation is locked for 1 day, and moving HYPE from staking back to your spot balance takes a 7-day unstaking queue. The docs say no automatic slashing is implemented, but a jailed validator earns nothing for its delegators until it is unjailed. Step by step: how to stake HYPE.

Buybacks: the Assistance Fund

The Assistance Fund is a system address, 0xfefefefefefefefefefefefefefefefefefefefe. No one holds a key to it. Hyperliquid's fee docs say it "converts trading fees to HYPE in a fully automated manner as part of the L1 execution", and that HYPE in the fund is burned.

HYPE in the fund

48.68M

4.9% of max supply

Value at the mark

$4.03B

Entry notional (API)

$1.42B

about $29.20 per HYPE

Versus circulating

16.1%

of the API's circulating supply

Hyperliquid API spotClearinghouseState for 0xfefe…fefe, 2026-11-05 10:15 UTC. "Entry notional" is the API's entryNtl field for that balance, the figure the app uses as a position's cost; we divide it by the balance for the per-HYPE number. We have not reconciled it trade by trade.

What funds it. The docs say Hyperliquid's fees go "entirely" to the community: to HLP, the Assistance Fund and market deployers, and spot and HIP-3 deployers may keep up to 50% of the fees their own markets generate. The docs don't publish a fixed percentage split between HLP and the fund. For scale, DefiLlama counted about $87.6M of Hyperliquid protocol fees in the 30 days to November 4, 2026. Buying scales with trading activity, so it slows when volume falls, and it doesn't set a price floor. Background: the Assistance Fund and HYPE buybacks.

Where to buy HYPE

On Hyperliquid, HYPE trades in 4 spot pairs. All of them are the same, real token, spot token index 150, token ID 0x0d01dc56dcaaca66ad901c959b4011ec, full name "Hyperliquid". Only the quote currency differs. Check the index or the full name, not the ticker, because tokens on other chains and liquid-staking tokens like kHYPE and stHYPE also use the name.

Hyperliquid API spotMetaAndAssetCtxs, 2026-11-05 10:15 UTC. 3 of the 4 pairs together traded $48.1K; for most buyers HYPE/USDC is the pair to use.

• Spot (you own the token). Deposit USDC, open HYPE/USDC on spot, buy at least $10. Entry-tier spot fees are 0.070% taker and 0.040% maker. Full steps: how to buy HYPE.
• The perp (you don't). The HYPE perp tracks the price with up to 10x leverage. You never hold HYPE, you pay or receive funding every hour, and a move against you can liquidate the position. See trade the HYPE perp.
• HyperEVM. HYPE is the native gas token of the HyperEVM (chain ID 999). Per Hyperliquid's docs, sending HYPE to 0x2222222222222222222222222222222222222222 moves it between HyperCore and HyperEVM. That address is for HYPE only: other assets sent there are lost. On HyperEVM you can also swap for HYPE on DEXs such as HyperSwap. How-to: move funds between HyperCore and HyperEVM.
• Centralized exchanges. On 4 November 2026 Binance's public API listed HYPEUSDT spot as trading, and Coinbase Exchange's listed HYPE-USD as online. Availability depends on where you live.

Hyperliquid's terms restrict people in the United States, Ontario and sanctioned territories from using the app (what the terms say). We don't advise ways around that. Buying through our link applies a referral code that takes 4% off your fees for your first $25M of volume.

HYPE ETFs and treasuries

For people who want HYPE exposure in a brokerage account, there are three listed wrappers.

Hyperliquid Strategies reported a HYPE treasury of about $1.9B in August 2026 (The Block). On the chain, a validator named "Hyperliquid Strategies x Unit" had 38.9M HYPE delegated to it, and one named "Bitwise" had 3.93M (Hyperliquid API, November 5, 2026). Anyone can delegate to any validator, so those figures aren't the companies' holdings. A fund share or a company share is not the token: you can't stake it yourself or use it on Hyperliquid. Details: Hyperliquid Strategies (PURR) and the HYPE ETFs.

What can go wrong

Data: Hyperliquid info API, 2026-11-05 10:15 UTC, also as JSON and a daily price CSV (CC BY 4.0). The page rebuilds every 2 hours; the price block refreshes in your browser.