Hyperliquid keeps ~70 cents of every fee dollar as revenue. Uniswap, the sector's fee leader, keeps only about 7. Here's the top 10 DEXs ranked by fee-to-revenue conversion (live DefiLlama, Aug 2026):
$DYDX: 100% ($327K → $327K)
$AERO: 75% ($4.59M → $3.45M)
$HYPE: 70% ($43.13M
$DYDX: 100% ($327K → $327K)
$AERO: 75% ($4.59M → $3.45M)
$HYPE: 70% ($43.13M