Hyperliquid price and where to buy HYPE

What is Hyperliquid?

Hyperliquid is a blockchain built around a decentralised exchange for perpetual futures, with a fully on-chain order book rather than the automated market makers most decentralised exchanges use. HYPE is its native token: it pays network fees and is staked to secure the chain, and part of the exchange’s trading fees is used to buy HYPE on the market.

The maximum supply is 1 billion HYPE.

How to buy Hyperliquid, step by step

1. Pick an exchange. HYPE is listed on four of the five exchanges we track. Compare fees, funding options and whether it serves your country in our exchange reviews.
2. Create and verify your account. Regulated exchanges ask for identity documents before you can deposit fiat.
3. Fund the account. A bank transfer or a stablecoin deposit usually costs far less than a card payment.
4. Buy HYPE. Use the HYPE/USDT or HYPE/USD market, and check the cheapest venue in the table above first.
5. Decide where to keep it. On the exchange is simplest, but the exchange then holds your coins. HYPE also trades on Hyperliquid’s own decentralised exchange, which you use from a self-custody wallet; we do not track that venue, so its price is not in our composite.

Where to buy Hyperliquid at the best price

HYPE is listed on four of the five exchanges we track. The cheapest one right now is marked in the table above; add its trading fee before comparing.

• The price on that venue. Each row shows the gap to our composite.
• The trading fee. Our fee comparison lists spot fees side by side.
• Where you live. Availability differs by region, so check the venue’s restrictions in our exchange reviews first.

Why the Hyperliquid price differs so little between exchanges

In our minute-by-minute measurement the gap between the highest and lowest venue averaged about 0.019 percent, the tightest of any large asset we track and tighter than Bitcoin’s 0.025 percent. It went above half a percent in fewer than one minute in a thousand.

Its volume is also distributed differently from most coins. The largest share of the HYPE spot volume we track trades on a venue that is not the largest exchange overall, and a second venue is not far behind. The spread figure at the top of this page is the live measurement; our guide on why crypto prices differ between exchanges explains the mechanism.

What moves the Hyperliquid price

The wider crypto market first. In our hourly composite, HYPE moved with Bitcoin at a correlation of about 0.63, where 1 would mean identical moves, and its moves were nearly twice the size of Bitcoin’s.

Hyperliquid-specific drivers come on top: trading volume on its exchange, which funds buybacks of HYPE, staking and leverage. The funding rates on this page show whether traders are paying to be long or short right now.

Pros and cons of Hyperliquid

Pros

• The tightest price gap between exchanges of any large coin we track, tighter than Bitcoin’s.
• Part of its exchange’s trading fees buys HYPE on the market.
• A maximum supply of 1 billion HYPE.

Cons

• Its hourly moves were nearly twice Bitcoin’s in our data.
• Its value depends heavily on the success of one decentralised exchange.
• It trades on four of the five exchanges we track, not all of them.

The HYPE to USD converter applies the live price to any amount.