Hyperliquid is drawing more external integrations through its builder codes system, with wallet and exchange partners tapping into the protocol’s shared liquidity for perpetual trading. The decentralized exchange, already used by many traders for perpetual contracts, runs an Ethereum-compatible module called HyperEVM that connects directly to its in-house HyperCore blockchain. That setup lets third-party applications offer perpetual products on top of Hyperliquid’s infrastructure.
According to Flowscan data, developers that have deployed or integrated through the builder codes framework have generated about $90 million in revenue so far. The report says several hundred developers are already involved, including MetaMask, Phantom wallet and South African exchange VALR. MetaMask has offered users self-custodial access to perpetuals inside the wallet since October 2025 and charges a 0.1% builder fee. VALR CEO Farzam Ehsani said the exchange had previously built its own perpetuals infrastructure, but moved to Hyperliquid’s order book after falling short on liquidity and trading volume.
Hyperliquid has become a decentralized exchange used by many traders for perpetual contract trading, and its Ethereum-compatible module, HyperEVM, connects directly to the project’s in-house HyperCore blockchain.
That structure allows wallets, exchanges and other applications to offer perpetual trading and related services on top of shared liquidity. Several hundred developers have already deployed or integrated through Hyperliquid’s builder codes system, including MetaMask, Phantom wallet and South African exchange VALR.
Flowscan data shows that those developers have generated about $90 million in revenue to date.
MetaMask has offered users self-custodial access to perpetuals inside the wallet since October 2025, charging a 0.1% builder fee. VALR CEO Farzam Ehsani said the exchange had previously built its own perpetual infrastructure, but chose to connect to Hyperliquid’s order book after running into insufficient liquidity and trading volume.
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