Hyperliquid vs Morpho

Compare Hyperliquid and Morpho on TVL, fees, revenue and activity to understand how these projects stack up.

$8.493B
The Hyperliquid Bridge settles deposits and withdrawals between Ethereum and Hyperliquid’s Layer‑2 exchange once two‑thirds of validator stake signs the transaction. A light‑client circuit batches proofs so users receive near‑instant credit on Hyperliquid while final settlement finality matches Ethereum’s L1. Since launch in February 2025, average bridge latency has been under 90 seconds with no recorded reorg incidents.
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$11.252B
Morpho Blue is a minimal peer‑to‑peer lending primitive where anyone can deploy an isolated market smart contract referencing an external Chainlink price feed. Rates dynamically converge toward Compound V3 curves but settle peer‑to‑peer, which removes spread capture by the protocol and routes it to lenders and borrowers. The entire factory is less than 500 lines of Solidity and was formally verified by Certora.
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Key Metrics Comparison

Hyperliquid
TVL
$8.493B
24h Volume
$140.83M
24h Fees
$3.64M
24h Revenue
$2.78M
30d Fees
$83.24M
30d Revenue
$66.48M
7d TVL Change
-0.48%
Dominance
9.39%
Morpho
TVL
$11.252B
24h Volume
N/A
24h Fees
$744.3K
24h Revenue
$0
30d Fees
$22.53M
30d Revenue
$0
7d TVL Change
+3.38%
Dominance
12.45%

Category Performance

Visual comparison across key categories. Ring fill represents relative strength or share between the two assets.

TVL Share

Share of combined TVL

TVL Share
Hyperliquid
43.0%
Morpho
57.0%

Volume Share

Share of combined 24h volume

Volume Share
Hyperliquid
1.0%
Morpho
1.0%

Fees Share

Share of combined 24h fees

Fees Share
Hyperliquid
83.0%
Morpho
17.0%

Revenue Share

Share of combined 24h revenue

Revenue Share
Hyperliquid
100.0%
Morpho
1.0%

7d TVL Performance

TVL change over last 7 days

7d TVL Performance
Hyperliquid
-0.48%
Morpho
3.38%

Dominance

Market dominance by TVL

Dominance
Hyperliquid
9.4%
Morpho
12.4%
TVL Comparison
Hyperliquid
Morpho