Hyperliquid vs Sky Lending

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

$6.89B
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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$5.538B
Sky Lending is the flagship product of StableLab’s Sky ecosystem, enabling over‑collateralised borrowing of sUSDS and real‑world asset stablecoins. Interest accrues per‑second and can be paid in advance, allowing negative interest or fixed‑term loans. An on‑chain risk oracle adjusts LTV caps daily based on market volatility metrics sourced from Chainlink and Pyth.
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Key Metrics Comparison

Hyperliquid
TVL
$6.89B
24h Volume
$149.28M
24h Fees
$2.63M
24h Revenue
$1.98M
30d Fees
$68.29M
30d Revenue
$52.17M
7d TVL Change
+1.33%
Dominance
2.48%
Sky Lending
TVL
$5.538B
24h Volume
N/A
24h Fees
$889.4K
24h Revenue
$428.4K
30d Fees
$27.18M
30d Revenue
$13.6M
7d TVL Change
-2.19%
Dominance
1.99%

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
55.4%
Sky Lending
44.6%

Volume Share

Share of combined 24h volume

Volume Share
Hyperliquid
1.0%
Sky Lending
1.0%

Fees Share

Share of combined 24h fees

Fees Share
Hyperliquid
74.7%
Sky Lending
25.3%

Revenue Share

Share of combined 24h revenue

Revenue Share
Hyperliquid
82.2%
Sky Lending
17.8%

7d TVL Performance

TVL change over last 7 days

7d TVL Performance
Hyperliquid
1.33%
Sky Lending
-2.19%

Dominance

Market dominance by TVL

Dominance
Hyperliquid
2.5%
Sky Lending
2.0%
TVL Comparison
Hyperliquid
Sky Lending