Hyperliquid
OrderbookRank #1Hyperliquid is a high-performance decentralized exchange (DEX) built on its own purpose-built Layer 1 blockchain, HyperCore. Founded by Jeffrey Yan and a team of Harvard, Caltech, and MIT alumni under Hyperliquid Labs, the platform launched its mainnet in 2023 and introduced its native HYPE token in November 2024. What sets Hyperliquid apart is its fully on-chain order book powered by the HyperBFT consensus algorithm, capable of processing up to 200,000 orders per second with one-block finality. This delivers a centralized exchange-like trading experience while maintaining complete self-custody — users never relinquish control of their assets. The platform offers perpetual futures with up to 50x leverage across a wide range of crypto assets, a spot order book, prediction markets (outcome contracts), and the HLP vault for passive market-making strategies. Deposits are primarily made via USDC bridged from the Arbitrum network. Hyperliquid also supports EVM-compatible smart contracts through its HyperEVM layer, enabling a broader DeFi ecosystem. As of 2026, Hyperliquid has achieved remarkable scale: Total Value Locked (TVL) exceeds $4.7 billion, cumulative perpetual trading volume has surpassed $4.2 trillion, and the exchange consistently ranks #1 among all decentralized derivatives platforms by 24-hour volume. No mandatory KYC is required for trading.
24H Volume
$4.67B
-27.71% (24h)
7D Volume
$35.77B
-41.49% (7d)
30d Volume
$133.75B
-24.41% (30d)
Open Interest
$7.26B
Volume Breakdown (24h)
Spot Volume
$63.57M
Derivatives Volume
$4.60B
Trading Markets
386
Date Launched
Feb 2023
Exchange Type
orderbook
Visits
5.48M
Supported Assets
325
Volume History (30d)
Avg Daily Vol (30d)
$6.087B
Peak Daily Vol (30d)
$10.855B
Daily 24h volume over the last 30 days · Hyperliquid
Open Interest History (30d)
Avg OI (30d)
$7.288B
Peak OI (30d)
$7.310B
Low OI (30d)
$7.257B
Daily open interest over the last 30 days · Hyperliquid
About Hyperliquid
Hyperliquid is a high-performance decentralized exchange (DEX) built on its own purpose-built Layer 1 blockchain, HyperCore. Founded by Jeffrey Yan and a team of Harvard, Caltech, and MIT alumni under Hyperliquid Labs, the platform launched its mainnet in 2023 and introduced its native HYPE token in November 2024.
What sets Hyperliquid apart is its fully on-chain order book powered by the HyperBFT consensus algorithm, capable of processing up to 200,000 orders per second with one-block finality. This delivers a centralized exchange-like trading experience while maintaining complete self-custody — users never relinquish control of their assets.
The platform offers perpetual futures with up to 50x leverage across a wide range of crypto assets, a spot order book, prediction markets (outcome contracts), and the HLP vault for passive market-making strategies. Deposits are primarily made via USDC bridged from the Arbitrum network. Hyperliquid also supports EVM-compatible smart contracts through its HyperEVM layer, enabling a broader DeFi ecosystem.
As of 2026, Hyperliquid has achieved remarkable scale: Total Value Locked (TVL) exceeds $4.7 billion, cumulative perpetual trading volume has surpassed $4.2 trillion, and the exchange consistently ranks #1 among all decentralized derivatives platforms by 24-hour volume. No mandatory KYC is required for trading.