diff --git a/projects/kinetiq-markets/index.js b/projects/kinetiq-markets/index.js
new file mode 100644
index 00000000000..fbdfeb52143
--- /dev/null
+++ b/projects/kinetiq-markets/index.js
@@ -0,0 +1,72 @@
+const router = '0x6AB31532382Ba5cD5E8b5D343Cf5995906bb8DD8'
+
+const HYPE = '0xEeeeeEeeeEeEeeEeEeEeeEEEeeeeEeeeeeeeEEeE'
+const kHypeManager = '0x393D0B87Ed38fc779FD9611144aE649BA6082109'
+
+const abis = {
+  phase: "function phase(address exManager) view returns (uint8)",
+  exLST: "function exLST(address exManager) view returns (address)",
+  allowedTokensInOnDeposit: "function allowedTokensInOnDeposit(uint8 exPhase) view returns (address[] tokensIn)",
+  exLstToTokenOut: "function exLstToTokenOut(address exManager, address tokenOut, uint256 sharesIn) view returns (uint256 amountOut)",
+  nextWithdrawalId: "function nextWithdrawalId(address) view returns (uint256)",
+  withdrawalDelay: "function withdrawalDelay() view returns (uint256)",
+  withdrawalRequests: "function withdrawalRequests(address user, uint256 id) view returns (uint256 hypeAmount, uint256 kHYPEAmount, uint256 kHYPEFee, uint256 bufferUsed, uint256 timestamp)",
+};
+
+const managers = [
+  '0x4ef8bbacee867efd6faa684b30ecd12df74c4a48' // kmHYPE
+]
+
+const tvl = async (api) => {
+  const [phases, exLSTs] = await Promise.all([
+    api.multiCall({ target: router, calls: managers, abi: abis.phase }),
+    api.multiCall({ target: router, calls: managers, abi: abis.exLST }),
+  ])
+
+  for (const [index, exLST] of exLSTs.entries()) {
+    const phase = phases[index]
+    const manager = managers[index]
+
+    const supply = await api.call({ target: exLST, abi: 'erc20:totalSupply' })
+    const allowedAssets = await api.call({ target: router, params: phase, abi: abis.allowedTokensInOnDeposit, permitFailure: true })
+
+    if (!allowedAssets?.length) continue
+
+    const assetOutputs = await api.multiCall({
+      abi: abis.exLstToTokenOut,
+      permitFailure: true,
+      calls: allowedAssets.map((asset) => ({ target: router, params: [manager, asset, supply] })),
+    })
+
+    allowedAssets.forEach((asset, i) => {
+      const amount = assetOutputs[i]
+      if (!amount) return
+      api.add(asset, amount)
+    })
+
+    const [nextWithdrawalId, withdrawalDelay] = await Promise.all([
+      api.call({ target: kHypeManager, params: [manager], abi: abis.nextWithdrawalId }),
+      api.call({ target: kHypeManager, abi: abis.withdrawalDelay })
+    ])
+
+    const withdrawalIds = [...Array(Number(nextWithdrawalId)).keys()]
+
+    const withdrawalRequests = await api.multiCall({
+      target: kHypeManager,
+      abi: abis.withdrawalRequests,
+      calls: withdrawalIds.map((id) => ({ params: [manager, id] })),
+      permitFailure: true,
+    })
+
+    if (!withdrawalRequests.length) continue
+    const now = Math.floor(Date.now() / 1000)
+
+    withdrawalRequests.forEach(({ hypeAmount, timestamp }) => {
+      now < Number(timestamp) + Number(withdrawalDelay) ? api.add(HYPE, -hypeAmount) : api.add(HYPE, -0)
+    })
+  }
+}
+
+module.exports = {
+  hyperliquid: { tvl }
+}
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