Hyperliquid (HYPE) Market Overview: Spot, Derivatives & Market Share

HYPE is the token of Hyperliquid, a decentralised perpetual futures exchange, and it also trades on major centralised venues. This page brings HYPE market data together: composite price, market cap and rank, spot volume, HYPE open interest, funding and liquidations from the exchanges FMchart tracks, so you can see how trading in the token is spread.

Related: Hyperliquid price chart · Open interest · Funding rates · Liquidations · Long/short ratio · HYPE liquidation heatmap

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Price

Hourly · change 24H

Market Cap

Market snapshot · rank

Spot Volume (24H)

Last 24 hourly candles

Open Interest

Hourly · change 24H

Funding Rate (OI-weighted)

Hourly · change 24H

Liquidations (24H)

Last 24 hourly candles

HYPE Price, Spot Volume & Open Interest

Hourly · 7D · price, open interest and spot volume on separate scales

Exchange Breakdown: Open Interest

Latest snapshot · share of total · 24H change

HYPE Liquidation Heatmap (30D)

Estimated levels, not recorded liquidations · 30D

HYPE Market Share

Market Indices · hourly · 7D trend

Liquidations Long/Short

4H candles · 7D

Funding Rate (OI-weighted, %/8h)

1H candles · 7D

Long/Short Ratio (Binance accounts)

1H candles · 7D

Data transparency

  • Price and spot volume: FMChart composite candles for HYPE built from several spot exchanges, hourly; the 24H spot volume sums the last 24 closed hourly candles.
  • Market cap and rank: FMChart market snapshot (composite price × circulating supply), refreshed every minute.
  • Open interest: one side of HYPE perpetual futures, summed over the derivatives exchanges FMChart collects; the exchange breakdown is the latest snapshot.
  • Funding: rate of each exchange converted to an 8-hour equivalent (rate × 8 ÷ settlement interval), weighted by open interest.
  • Liquidations: long and short liquidations reported by the exchanges FMChart collects.
  • Liquidation heatmap: estimated from open interest, prices and an estimated leverage mix — not liquidations that have happened (same model as the Liquidation Heatmap page), last 30 days.
  • Long/short ratio: Binance global accounts ratio, hourly (only when Binance publishes it for HYPE).
  • Market share: FMChart Market Indices, hourly closed candles. Last candle: loading…
  • Scope: totals cover the exchanges FMChart collects, not the whole market. Times are UTC.

Hyperliquid FAQ

Is this Hyperliquid's total exchange open interest?

No. This page covers open interest in HYPE token contracts only, summed across the derivatives exchanges FMchart tracks. Hyperliquid also lists perpetuals for many other coins; their open interest appears on those coins' own pages, such as Bitcoin or Ethereum, not here.

Why does HYPE funding matter for an exchange token?

HYPE perpetuals trade on both decentralised and centralised venues, so funding shows how eager traders are to hold leveraged HYPE exposure. The OI-weighted rate counts exchanges with more open contracts more heavily. Persistently high positive readings mean long positions are crowded and costly to maintain.

What does the HYPE liquidation heatmap measure?

It estimates price levels where leveraged HYPE positions could be liquidated, covering 30 days and drawn over the price. It covers HYPE contracts only, not every market on the Hyperliquid exchange, and the levels are modelled exposure rather than liquidations that have actually happened.

What does the HYPE market share panel show?

It compares HYPE's market-cap dominance with its share of spot volume, derivatives volume and open interest. For a token tied to a derivatives exchange, a derivatives share well above its market-cap share shows that leveraged trading in HYPE is heavy relative to its size.