Hyperliquid Revenue Tops $1.4 Billion as Perps Share Exceeds 56%

Hyperliquid’s cumulative protocol revenue has exceeded $1.4 billion, while its share of onchain perpetual-futures open interest surpassed 56%.

More than $1.26 billion of the revenue has been used to buy back HYPE on the open market. The figures mark a continuation of Hyperliquid’s earlier protocol revenue and HYPE buyback growth.

The platform has also expanded access to its trading infrastructure through Builder Codes. The system allows third-party wallets and applications to connect to Hyperliquid’s perpetual trading infrastructure without developing their own exchange systems.

Phantom received more than $25 million through Builder Codes, while MetaMask received more than $10.5 million.