# Hyperliquid SRB

HYPESRB is a benchmark representing the mean, annualized staking rate across all active Hyperliquid validators.

HYPESRB is calculated and published by Staking Rewards via the [Hyperliquid Profile](https://www.stakingrewards.com/asset/hyperliquid) and [Data API](https://www.stakingrewards.com/data-api).

> **TL;DR:** Hyperliquid staking rewards are derived from the predicted APR of a representative active validator, adjusted to remove commission and performance effects to arrive at the gross network staking rate.

$$
HYPESRB = \frac{predictedApr\_{sample}}{(1 - c\_{sample}) \cdot p\_{sample}}
$$

<table data-full-width="false"><thead><tr><th width="141">Formula key</th><th width="158">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>predictedApr<sub>sample</sub></td><td>Predicted APR</td><td>The predicted annual percentage rate of a representative active validator as reported by the Hyperliquid protocol.</td></tr><tr><td>c<sub>sample</sub></td><td>Commission</td><td>The commission rate of the sample validator, used to reverse out the validator-specific fee and derive the gross network rate.</td></tr><tr><td>p<sub>sample</sub></td><td>Performance</td><td>The uptime fraction of the sample validator, used to reverse out performance effects and derive the ideal network rate.</td></tr></tbody></table>

* HYPESRB is non-compounded, excluding returns from reinvestment of rewards.
* The sample validator must have a positive reward rate, positive performance, and a commission below 100%.

***

#### Slashing

1. Hyperliquid validators can be jailed for misbehavior. Jailed validators are excluded from the active set. HYPESRB does not factor in the possibility of jailing or slashing occurrences.

***

### HYPE Validator Staking Reward Rate: HYPESRB(v)

Staking Rewards calculates the HYPESRB for each validator based on their individual performance and commission rate.

$$
HYPESRB(v) = HYPESRB \cdot (1 - c) \cdot p
$$

<table data-full-width="false"><thead><tr><th width="150.33333333333331">Formula key</th><th width="187">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>c</td><td>Commission</td><td>The fee imposed by a specific validator to its delegators.</td></tr><tr><td>p</td><td>Performance</td><td>The uptime fraction of the validator, representing its reliability in participating in consensus.</td></tr></tbody></table>

***

#### Observation Period:

1. The HYPESRB is determined based on the latest validator summary data at the evaluation point.
2. This data is then annualized for a comprehensive year-long projection.

#### Calculation

The calculation happens every 2 hours and is immediately published via [Data API](https://www.stakingrewards.com/data-api).

#### Limitations

1. HYPESRB employs a 365-day convention for annualizing staking rates. This convention remains consistent and does not accommodate adjustments for leap years.
2. Validators with 100% commission are considered private and excluded from public reward rate calculations.
3. The benchmark relies on the protocol's predicted APR as reported by the Hyperliquid validator summaries endpoint.

### HYPE Real Reward Rate: HYPESRB^R

The real reward rate calculates the HYPESRB adjusted for inflation in the network.

$$
HYPESRB^R=1 +HYPESRB/(1+ir) -1
$$

<table data-full-width="false"><thead><tr><th width="141">Formula key</th><th width="158">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>ir</td><td>Inflation Rate</td><td>The annual rate at which supply increases.</td></tr></tbody></table>

***

### Solo Staking Requirements

<table data-full-width="false"><thead><tr><th width="212.99999999999994">Parameter</th><th>Value</th></tr></thead><tbody><tr><td>Minimum Stake</td><td>10,000 HYPE</td></tr><tr><td>Lockup Period</td><td>30 days</td></tr></tbody></table>

***

### Other Hyperliquid metrics calculated by Staking Rewards:

<table data-full-width="false"><thead><tr><th width="212.99999999999994">Metric</th><th>Description</th></tr></thead><tbody><tr><td>Delegated Tokens</td><td>The number of HYPE tokens delegated to validators.</td></tr><tr><td>Active Validators</td><td>The number of validators actively participating in consensus.</td></tr><tr><td>Inactive Validators</td><td>The number of validators not currently active in the validator set.</td></tr><tr><td>Total Validators</td><td>The total number of registered validators on the network.</td></tr><tr><td>Benchmark Commission</td><td>The median commission rate across active validators.</td></tr></tbody></table>

#### Data Sources:

* Hyperliquid Validator Summaries API
* CoinGecko for price and supply data

#### References:

* [Hyperliquid Documentation](https://hyperliquid.gitbook.io/hyperliquid-docs)
* [Hyperliquid Staking App](https://app.hyperliquid.xyz/staking)
* [Staking Rewards HYPE profile](https://www.stakingrewards.com/asset/hyperliquid)

***

:bar\_chart: [Calculate your HYPE Staking Rewards](https://www.stakingrewards.com/calculator?asset=hyperliquid)

:gear: [Access historic Hyperliquid Staking Data via API](https://www.stakingrewards.com/data-api)

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Last updated on 03/04/2026
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