A HyperEVM address rarely tells a simple story. On-chain swaps sit next to Uniswap-style liquidity deposits. Gas is paid in HYPE rather than a stablecoin. Moving value to Hyperliquid's order book, HyperCore, produces a transaction that never shares a hash with the leg it pairs with. Read as a flat list, none of it lines up into a year of gains and losses.
Recap reads your HyperEVM address directly, classifies each swap, liquidity move, bridge leg and gas payment by default, and applies the rules for your jurisdiction. This page covers how that classification works and how to get your history in.
Disclaimer
The information provided in this content does not endorse HyperEVM. Furthermore, it does not constitute tax advice. If anything financial or tax-related is unclear, speak to a qualified tax professional. You can also share your Recap account with your accountant or tax adviser directly.
Why HyperEVM tax is difficult to work out by hand
HyperEVM only joined Hyperliquid's mainnet in February 2025. A block explorer gives you the raw calls but very little of the tax context behind them. A few things make it hard to reconcile without help:
Swaps and liquidity look like contract calls. A trade through a HyperEVM DEX shows up as a token transfer plus a contract interaction, not as the disposal it actually is. Adding or removing liquidity from a pool looks the same way.
Bridge legs do not share a transaction hash. Moving value between HyperCore and HyperEVM produces two separate transactions on two separate systems. Nothing on either side visibly connects them, so it is easy to record a bridge deposit as unexplained income.
Gas is paid in HYPE. Every transaction fee disposes of a small amount of HYPE, and those disposals are easy to leave out of a cost-basis calculation entirely.
How to add your HyperEVM account to Recap
HyperEVM imports into Recap from your public address. Add it, and Recap reads your on-chain activity automatically, including swaps, liquidity moves, transfers, bridge legs and gas, without ever needing a private key.
HyperEVM sits alongside your other accounts rather than replacing them, so a Hyperliquid (HyperCore) account you already hold needs adding separately. If anything looks wrong after the first sync, let us know through Support.
Auto Sync with Hyperliquid (HyperEVM) How are HyperEVM transactions taxed?
Tax treatment depends on the transaction type and where you are tax resident. Here is how Recap classifies the main HyperEVM activity by default.
Token swaps and DEX liquidity
Recap treats a swap on a HyperEVM DEX as disposing of what you sell and acquiring what you buy, the same as any crypto-to-crypto trade. Depositing into or withdrawing from a Uniswap-style liquidity pool is treated the same way.
Bridging between HyperCore and HyperEVM
A transfer to or from one of HyperCore's system addresses is recognised as a bridge leg, not an ordinary disposal. The same value is moving between two representations of your own holdings. When you have also added your Hyperliquid (HyperCore) account, Recap matches the two legs by owner, asset, amount and time. The pair is then recorded as one transfer instead of two unrelated ones.
Gas paid in HYPE
Every HyperEVM transaction spends a small amount of HYPE on gas. Recap treats that as a disposal of the HYPE spent. It also adds the fee to the cost basis of the transaction it relates to. That way it is counted once as a cost and never silently dropped.
Airdrops and other on-chain rewards
A token claimed through an airdrop contract is recorded as an acquisition rather than income by default. Our UK guide treats an airdrop as income only when it is received in return for a service, while our US guide generally treats an airdrop as ordinary income on receipt. Recategorise the transaction in Recap if the US position applies to you.
| Transaction type | CGT disposal | CGT acquisition | Income |
|---|---|---|---|
| Token swaps and DEX trades | CGT disposal: yes | CGT acquisition: yes | Income: no |
| Adding or removing DEX liquidity | CGT disposal: yes. Recap treats a liquidity deposit or withdrawal as a crypto-to-crypto trade, the same as a swap. | CGT acquisition: yes | Income: no |
| Bridging between HyperCore and HyperEVM | CGT disposal: no | CGT acquisition: no | Income: no |
| Transfers between your own HyperEVM addresses | CGT disposal: no | CGT acquisition: no | Income: no |
| Gas paid in HYPE | CGT disposal: yes. Paying gas in HYPE disposes of it, and Recap also adds it to the cost basis of the transaction it relates to. | CGT acquisition: no | Income: no |
| Airdropped tokens | CGT disposal: no | CGT acquisition: yes. Recap's default for portfolios created after 6 April 2024: the airdropped asset enters the pool at zero cost. Portfolios created before then default to market value. Configurable per portfolio and overridable per transaction. Airdrops never generate an income event in Recap; recategorising the transaction as Income does. | Income: no |
This table shows how Recap classifies each transaction type by default. Some treatments — such as the acquisition cost used for airdrops — are configurable in Recap. This is general information, not tax advice; consult a qualified tax professional about your circumstances.
This table shows Recap's default classification for common HyperEVM transactions. It is not an exhaustive schedule or a ruling. Treatment depends on your circumstances and jurisdiction, and you can recategorise any transaction where yours differ. Confirm your position with a qualified tax adviser.
Refer to our tax guides for a more detailed look at crypto tax rules.
What we decode on HyperEVM that a block explorer does not
Recap parses Uniswap V2 and V3-style pool events directly. A swap or liquidity deposit on a HyperEVM DEX is read as the trade it is. It is not left as a raw token transfer, or a bare contract call.
A deposit or withdrawal whose counterparty is a HyperCore system or asset-bridge address is flagged as a bridge candidate. Matching was improved in a later release so that native HYPE transfers between HyperCore and HyperEVM pair up more reliably. A bridge leg then lands as a single transfer rather than two unexplained ones.
An inbound token with no matching outbound value, sent through a recognised claim contract, is read as an airdrop rather than a generic deposit. It then gets the acquisition treatment above automatically.
What's in your HyperEVM tax report
Recap turns your HyperEVM activity into a single tax report. Swaps and liquidity moves are treated as the disposals and acquisitions they are. HyperCore bridge legs and self-transfers are excluded, and gas fees are counted as disposals and attached as costs. Capital gains, losses and income are worked out under the rules for your jurisdiction.
HyperEVM is a separate integration from Hyperliquid's order book, HyperCore. If you trade on both, add each as its own account and Recap keeps the two histories straight while still matching the transfers between them.
Auto Sync with Hyperliquid (HyperEVM) 