Hyperliquid's cumulative revenue had reached $1.24 billion as of Aug. 12, with native perpetual contracts (crypto derivatives with no expiry) generating $1.13 billion and accounting for 90.7% of the total. HIP-3 perpetual contracts contributed $23.7 million. Other revenue streams included $45.9 million from spot trading, $20.7 million from spot auctions and $13.5 million from HyperEVM gas (network transaction fees), among other sources.