Clear definitions
Fees, revenue, supply and purchases are different measures. Their labels and units stay explicit.
Market intelligenceProtocol economicsWallet researchEcosystem insights
Independent Hyperliquid research
Independent Hyperliquid researchUnderstand
Hyperliquid.
See the market. Follow the capital. Connect the data
to the system beneath it.
Independent research built around public observations. Explore the detail, understand the scope, and keep the original source in view.
Market intelligence
Read price, funding and positioning together. Find the detail behind a market move.
Protocol economics
Trace revenue, supply and Assistance Fund activity through their original sources.
Capital & ecosystem
Connect applications, liquidity and network activity across the wider ecosystem.
Wallet research
Explore public positions, follow saved wallets and compare participant activity.
—
HYPE perpetual mark · USDC
—
Native perpetual volume · 24h USDC
—
Native perpetual open interest · USDC
Connecting to source · received —
See beneath the surface.
Three starting points for a deeper understanding of the market and the network behind it.
Price is only the beginning.
See the relationship between price, positioning and liquidity.
01 / LIQUID DATA
The economics beneath HYPE.
Read revenue, supply and Assistance Fund purchases in context.
02 / LIQUID DATA
Capital has a wider story.
Explore the applications and participants across the network.
03 / LIQUID DATAConnect every layer.
Move from an observation to its history, its methodology and the related research. Keep the context as you explore.
LIQUID DATA / RESEARCH FLOWPUBLIC DATA → CLEARER CONTEXT
Public sourcesObserve & verifyMarketsPrice & positioningFinancialsRevenue & supplyEcosystemCapital & applicationsUnderstandingResearch & context
Traceable observationsExplicit reporting windowsMissing values stay missing
The network, in focus.
Read activity and positioning at a glance. Open the source controls to inspect the exact observations behind each chart.
01 Perpetual volume
— USDC
24h total · chart shows the top eight markets
02 Market breadth
—
Awaiting market observations
03 Open interest
— USDC
Current total · chart shows the top eight markets
Built around the evidence.
A consistent way to read complex data, from the first observation to the source behind it.
Visible context
Timeframes, receipt times and source coverage accompany the observations they describe.
Connected research
Move between the overview, specialist tools and explanations without losing the question you started with.
Explore the detailOne network.
One network.
More perspectives.
Read the market.
Compare price, funding, open interest and visible liquidity. Move from a network-wide view into the detail of an individual market.
Explore marketsPRICE / POSITIONING / LIQUIDITY
The House of FinanceA different way
A different way
to explore.
Step into the interactive house. Explore the rooms,
discover the research and follow the connections.
Start with a better question.
Build a clearer understanding of the concepts behind the data, then explore them in practice.
Understand the system beneath the market.
Explore the concepts, definitions and sources that make the data easier to read.
Protocol mechanics
What does the supply figure tell you?
Market structure
Read funding in its wider context.
Find the explanations and the related tools in one place.
Research & learnCommon questionsClarity before
Clarity before
complexity.
How to read the research, understand the sources and find your way around.
Our methodologyWhat is Liquid Data?
Liquid Data is an independent research interface for Hyperliquid. It connects public market observations, protocol economics, ecosystem activity and educational resources.
Where should I start?
Open the network overview for a broad view, or choose Markets, Financials, Ecosystem or Wallets from the navigation. Each workspace links to its related research tools.
Is this an official Hyperliquid product?
No. Liquid Data is independent. Source labels identify where each observation comes from.
News
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Keep exploringA clearer view
A clearer view
starts here.
Explore the observations. Understand the context.
Follow the evidence.