Hyperliquid Assistance Fund: HYPE Buyback Tracker (2026)

The short version: Hyperliquid sends trading fees to the community, and part of them goes to the Assistance Fund, a system address (0xfefe…fefe) that automatically converts fees into HYPE as part of L1 execution. Hyperliquid's docs say HYPE in the fund is burned. In our snapshot on 25 October 2026 (about 08:05 UTC), the fund held 48.25 million HYPE, worth roughly $3.67 billion at $76, and over the six full days from 19 to 24 October it bought an average of 21,484 HYPE (about $1.69 million) per day. All of it is readable from the public API with no keys.

"HYPE buyback" is one of the most searched Hyperliquid topics, and also one of the most misquoted. Numbers get passed around on social media without a source or a date. The good news is that you do not need anyone's dashboard: the Assistance Fund is an ordinary address on HyperCore, so its balance and every fill it makes can be read from the same public endpoints you would use for any wallet. This guide explains what the fund is, what the docs actually say, the real numbers from a dated snapshot, how to read them correctly, and a short Python script to pull them yourself. If you would rather just look at the address, paste it into Hyperfolio: it is a free, read-only tracker, no wallet connection or API keys needed.

What the Assistance Fund is

Hyperliquid's fee page states that fees are "entirely directed to the community (HLP, the assistance fund, and deployers)". Spot and HIP-3 deployers can keep up to 50% of the fees generated by their own assets. For the Assistance Fund, the documentation says three specific things:

• It uses the system address 0xfefefefefefefefefefefefefefefefefefefefe.
• It converts trading fees to HYPE "in a fully automated manner as part of the L1 execution". There is no team wallet placing orders by hand.
• HYPE in the Assistance Fund is burned, which removes it from circulating and total supply.

That is the whole mechanism. Traders pay fees, a share of those fees ends up at the fund, and the fund buys HYPE on the HYPE/USDC spot market. HLP, the protocol vault, is a separate destination; we cover it in the vaults guide.

Real numbers: snapshot of 25 October 2026

We queried the public info API on 25 October 2026 at about 08:05 UTC. The HYPE spot mid price was $76.00.

Metric	Value	Source (info request type)
HYPE held by the fund	48,251,014 HYPE	spotClearinghouseState
Value at $76.00	≈ $3.67 billion	allMids, pair @107
Cost basis reported by the API (entryNtl)	$1.385 billion, ≈ $28.70 per HYPE	spotClearinghouseState
HYPE total supply	998,828,890	tokenDetails
HYPE circulating supply	302,002,103	tokenDetails
Fund as % of total supply	4.83%	calculated
Fund relative to circulating supply	15.98%	calculated

Two details are worth knowing. First, tokenDetails lists the fund under nonCirculatingUserBalances, so the 48.25M HYPE is already excluded from the circulating figure. That is why "15.98% of circulating" is a ratio, not a slice. Second, the same response still counts the fund's balance inside total supply. If you see a site subtract it to show a "burned" figure, that is its own adjustment, not a raw API field.

Daily buybacks: the last seven days

Every purchase is a fill on the HYPE/USDC spot pair (@107 in the API). Grouping the fund's fills by UTC day gives this:

UTC day	HYPE bought	USDC spent	Average price	Fills
18 Oct (from 08:36)	11,111	$859,707	$77.38	464
19 Oct	21,200	$1,674,966	$79.01	837
20 Oct	22,445	$1,791,104	$79.80	982
21 Oct	20,995	$1,706,229	$81.27	740
22 Oct	27,614	$2,162,084	$78.30	1,071
23 Oct	17,980	$1,396,067	$77.64	803
24 Oct	18,667	$1,410,826	$75.58	583
25 Oct (to 07:57)	3,431	$262,317	$76.46	147

Across the six full days (19 to 24 October), the fund bought 128,901 HYPE for $10.14 million, or 21,484 HYPE and $1.69 million per day on average. The whole seven-day window adds up to 143,444 HYPE for $11.26 million at an average of $78.52.

The daily amount is not a fixed schedule. Because the fund is fed by trading fees, the size of each day's buying moves with fee revenue, which in turn moves with trading activity. That is the useful way to read this table: the buyback works as a rough live meter of what Hyperliquid earns in fees. If you want to see how fees relate to volume, our trading volume guide breaks down where Hyperliquid's volume comes from.

How the fund trades

The fills show a consistent pattern in this window:

• Buy only. All 5,627 fills were buys. The fund does not sell.
• Passive orders. Every fill had crossed: false, meaning the fund's orders were resting in the book and were hit by other traders, rather than crossing the spread.
• No fees. Every fill shows a fee of 0.
• Many small orders. The 5,627 fills came from 2,241 distinct order IDs, with no TWAP ID. The buying is spread through the day in small pieces, which keeps its price impact low.

This matters for traders: the fund is a steady, price-insensitive bid on HYPE/USDC, but it is small relative to the market. In the same snapshot, the rolling 24-hour volume was $37.9 million on the HYPE/USDC spot pair and $363 million on the HYPE perp. The fund's $1.41 million on 24 October was about 3.7% of that spot volume and well under 1% of spot and perp combined, so it does not set the price on its own.

How to read the numbers without fooling yourself

• Do not annualize one week blindly. $1.69 million per day would be about $617 million over a year, but only if volume and fees stayed exactly where they were this week. They will not.
• The value in dollars moves with HYPE. The $3.67 billion figure is mark-to-market at $76. The entryNtl cost basis of about $28.70 per HYPE is what the API reports for the position, so the gap between them is a paper figure, not money anyone can spend: the fund only buys.
• Burned does not mean gone from the API. The docs call the fund's HYPE burned, while tokenDetails still includes it in total supply and lists it as non-circulating. Always say which figure you are quoting.
• Always date your snapshot. The balance grows every few seconds. A number without a timestamp is not checkable.

Track it yourself with Python

The script below needs only requests. It prints the fund's HYPE balance, its share of supply, and the daily buys for the last seven days. It pages through userFillsByTime, which returns at most 2,000 fills per call; Hyperliquid only serves the 10,000 most recent fills for an address, which at the current pace of 600 to 1,100 fills a day is roughly one and a half weeks. For anything older, store the results yourself, as explained in our historical data guide. It uses three or four light requests, well within the API rate limits.

import time, collections, requests
from datetime import datetime, timezone

API = "https://api.hyperliquid.xyz/info"
AF = "0xfefefefefefefefefefefefefefefefefefefefe"  # Assistance Fund system address
HYPE_SPOT = "@107"                                 # HYPE/USDC spot pair

def info(body):
    r = requests.post(API, json=body, timeout=10)
    r.raise_for_status()
    return r.json()

# 1) Current HYPE balance and its value
bal = next(b for b in info({"type": "spotClearinghouseState", "user": AF})["balances"]
           if b["coin"] == "HYPE")
hype, cost = float(bal["total"]), float(bal["entryNtl"])
mid = float(info({"type": "allMids"})[HYPE_SPOT])
print(f"HYPE held: {hype:,.0f}  value: ${hype * mid:,.0f}  avg cost: ${cost / hype:.2f}")

# 2) Share of supply
tok = next(t for t in info({"type": "spotMeta"})["tokens"] if t["name"] == "HYPE")
d = info({"type": "tokenDetails", "tokenId": tok["tokenId"]})
print(f"of total supply: {hype / float(d['totalSupply']):.2%}  "
      f"vs circulating: {hype / float(d['circulatingSupply']):.2%}")

# 3) Daily buys over the last 7 days (paginate: max 2,000 fills per call)
end = int(time.time() * 1000)
t, fills = end - 7 * 86_400_000, []
while True:
    page = info({"type": "userFillsByTime", "user": AF, "startTime": t, "endTime": end})
    fills += page
    if len(page) < 2000:
        break
    t = page[-1]["time"] + 1

days = collections.defaultdict(lambda: [0.0, 0.0, 0])
for f in fills:
    if f["coin"] == HYPE_SPOT and f["side"] == "B":
        k = datetime.fromtimestamp(f["time"] / 1000, tz=timezone.utc).date()
        days[k][0] += float(f["sz"])
        days[k][1] += float(f["sz"]) * float(f["px"])
        days[k][2] += 1
for k in sorted(days):
    q, usd, n = days[k]
    print(f"{k}  {q:>9,.0f} HYPE  ${usd:>12,.0f}  avg ${usd / q:.2f}  fills {n}")

New to the API? Start with our Hyperliquid API Python guide.

Track it without code

Because the fund is a normal address, any read-only wallet tracker can follow it. In Hyperfolio, paste 0xfefefefefefefefefefefefefefefefefefefefe to see its spot balances and recent fills next to your own wallets. The same approach works for whales and vaults: see how to track multiple Hyperliquid wallets. Hyperfolio never asks for a private key or a signature.

FAQ

What is the Hyperliquid Assistance Fund address?

0xfefefefefefefefefefefefefefefefefefefefe, as stated in Hyperliquid's fee documentation.

How much HYPE has the Assistance Fund bought?

On 25 October 2026 at about 08:05 UTC it held 48,251,014 HYPE, about 4.83% of total supply. Check the live figure with the script above.

How much does Hyperliquid buy back per day?

From 19 to 24 October 2026 the average was 21,484 HYPE, about $1.69 million, per day. It changes daily with trading fees.

Is the HYPE in the Assistance Fund burned?

Hyperliquid's docs say yes: HYPE in the fund is burned and removed from circulating and total supply. In the API, tokenDetails lists it as non-circulating.

Does the Assistance Fund ever sell HYPE?

Not in the data we checked: all 5,627 fills in the seven-day window were buys.

Does trading on Hyperliquid feed the buyback?

Yes. Trading fees fund it, so more volume means more buying. Staking HYPE and referral codes lower the fees you personally pay; see the staking guide.

Do I need an API key to check this?

No. All the endpoints used here are public read-only info requests.

Trade for less. If you are new to Hyperliquid, use referral code HYPERFOLIO for 4% off trading fees (how the referral works), then follow your PnL, your fills and wallets like the Assistance Fund for free in Hyperfolio.