diff --git a/package.json b/package.json
index 8271b72..87af89e 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@reservoir0x/relay-protocol-sdk",
-  "version": "0.0.48",
+  "version": "0.0.49",
   "description": "Relay protocol SDK",
   "main": "dist/index.js",
   "types": "dist/index.d.ts",
diff --git a/src/index.ts b/src/index.ts
index c969173..6029065 100644
--- a/src/index.ts
+++ b/src/index.ts
@@ -17,6 +17,7 @@ import {
   DecodedEthereumVmWithdrawal,
   DecodedSolanaVmWithdrawal,
   DecodedSuiVmWithdrawal,
+  DecodedHyperliquidVmWithdrawal,
   DepositoryWithdrawalMessage,
   DepositoryWithdrawalStatus,
   getDepositoryWithdrawalMessageId,
@@ -85,6 +86,7 @@ export {
   DecodedEthereumVmWithdrawal,
   DecodedSolanaVmWithdrawal,
   DecodedSuiVmWithdrawal,
+  DecodedHyperliquidVmWithdrawal,
   DepositoryWithdrawalMessage,
   DepositoryWithdrawalStatus,
   getDepositoryWithdrawalMessageId,
diff --git a/src/messages/v2.1/depository-withdrawal.ts b/src/messages/v2.1/depository-withdrawal.ts
index fdee8fa..8392f12 100644
--- a/src/messages/v2.1/depository-withdrawal.ts
+++ b/src/messages/v2.1/depository-withdrawal.ts
@@ -142,12 +142,39 @@ export type DecodedBitcoinVmWithdrawal = {
   };
 };
 
+export type DecodedHyperliquidVmWithdrawal = {
+  vmType: "hyperliquid-vm";
+  withdrawal: {
+    txType: number;
+    parameters:
+      | {
+          type: "UsdSend";
+          hyperliquidChain: string;
+          destination: string;
+          amount: string;
+          time: string;
+        }
+      | {
+          type: "SendAsset";
+          hyperliquidChain: string;
+          destination: string;
+          sourceDex: string;
+          destinationDex: string;
+          token: string;
+          amount: string;
+          fromSubAccount: string;
+          nonce: string;
+        };
+  };
+};
+
 type DecodedWithdrawal =
   | DecodedEthereumVmWithdrawal
   | DecodedSolanaVmWithdrawal
   | DecodedSuiVmWithdrawal
   | DecodedBitcoinVmWithdrawal
-  | DecodedTronVmWithdrawal;
+  | DecodedTronVmWithdrawal
+  | DecodedHyperliquidVmWithdrawal;
 
 export const encodeWithdrawal = (
   decodedWithdrawal: DecodedWithdrawal
@@ -247,6 +274,71 @@ export const encodeWithdrawal = (
       return "0x" + decodedWithdrawal.withdrawal.psbt;
     }
 
+    case "hyperliquid-vm": {
+      const { txType, parameters } = decodedWithdrawal.withdrawal;
+
+      let encodedParameters: string;
+      switch (parameters.type) {
+        case "UsdSend": {
+          encodedParameters = encodeAbiParameters(
+            parseAbiParameters([
+              "(string hyperliquidChain, string destination, string amount, uint64 time)",
+            ]),
+            [
+              {
+                hyperliquidChain: parameters.hyperliquidChain,
+                destination: parameters.destination,
+                amount: parameters.amount,
+                time: BigInt(parameters.time),
+              },
+            ]
+          );
+
+          break;
+        }
+
+        case "SendAsset": {
+          encodedParameters = encodeAbiParameters(
+            parseAbiParameters([
+              "(string hyperliquidChain, string destination, string sourceDex, string destinationDex, string token, string amount, string fromSubAccount, uint64 nonce)",
+            ]),
+            [
+              {
+                hyperliquidChain: parameters.hyperliquidChain,
+                destination: parameters.destination,
+                sourceDex: parameters.sourceDex,
+                destinationDex: parameters.destinationDex,
+                token: parameters.token,
+                amount: parameters.amount,
+                fromSubAccount: parameters.fromSubAccount,
+                nonce: BigInt(parameters.nonce),
+              },
+            ]
+          );
+
+          break;
+        }
+
+        default: {
+          throw new Error(
+            `Unsupported Hyperliquid transaction type ${
+              (parameters as any).type
+            }`
+          );
+        }
+      }
+
+      return encodeAbiParameters(
+        parseAbiParameters(["(uint8 txType, bytes parameters)"]),
+        [
+          {
+            txType,
+            parameters: encodedParameters as Hex,
+          },
+        ]
+      );
+    }
+
     default:
       throw new Error("Unsupported vm type");
   }
@@ -366,6 +458,89 @@ export const decodeWithdrawal = (
       };
     }
 
+    case "hyperliquid-vm": {
+      const result = decodeAbiParameters(
+        parseAbiParameters(["(uint8 txType, bytes parameters)"]),
+        encodedWithdrawal as Hex
+      );
+
+      const { txType, parameters } = result[0];
+
+      switch (txType) {
+        case 0: {
+          // UsdSend
+          const paramResult = decodeAbiParameters(
+            parseAbiParameters([
+              "(string hyperliquidChain, string destination, string amount, uint64 time)",
+            ]),
+            parameters
+          );
+
+          const { hyperliquidChain, destination, amount, time } =
+            paramResult[0];
+
+          return {
+            vmType: "hyperliquid-vm",
+            withdrawal: {
+              txType: Number(txType),
+              parameters: {
+                type: "UsdSend" as const,
+                hyperliquidChain,
+                destination,
+                amount,
+                time: time.toString(),
+              },
+            },
+          };
+        }
+
+        case 1: {
+          // SendAsset
+          const paramResult = decodeAbiParameters(
+            parseAbiParameters([
+              "(string hyperliquidChain, string destination, string sourceDex, string destinationDex, string token, string amount, string fromSubAccount, uint64 nonce)",
+            ]),
+            parameters
+          );
+
+          const {
+            hyperliquidChain,
+            destination,
+            sourceDex,
+            destinationDex,
+            token,
+            amount,
+            fromSubAccount,
+            nonce,
+          } = paramResult[0];
+
+          return {
+            vmType: "hyperliquid-vm",
+            withdrawal: {
+              txType: Number(txType),
+              parameters: {
+                type: "SendAsset" as const,
+                hyperliquidChain,
+                destination,
+                sourceDex,
+                destinationDex,
+                token,
+                amount,
+                fromSubAccount,
+                nonce: nonce.toString(),
+              },
+            },
+          };
+        }
+
+        default: {
+          throw new Error(
+            `Unsupported Hyperliquid transaction type: ${txType}`
+          );
+        }
+      }
+    }
+
     default:
       throw new Error("Unsupported vm type");
   }
@@ -480,6 +655,68 @@ export const getDecodedWithdrawalId = (
       return "0x" + sha256.create().update(encodedWithdrawal).hex();
     }
 
+    case "hyperliquid-vm": {
+      const { parameters } = decodedWithdrawal.withdrawal;
+
+      switch (parameters.type) {
+        case "UsdSend": {
+          return hashStruct({
+            types: {
+              "HyperliquidTransaction:UsdSend": [
+                { name: "hyperliquidChain", type: "string" },
+                { name: "destination", type: "string" },
+                { name: "amount", type: "string" },
+                { name: "time", type: "uint64" },
+              ],
+            },
+            primaryType: "HyperliquidTransaction:UsdSend",
+            data: {
+              hyperliquidChain: parameters.hyperliquidChain,
+              destination: parameters.destination,
+              amount: parameters.amount,
+              time: parameters.time,
+            },
+          });
+        }
+
+        case "SendAsset": {
+          return hashStruct({
+            types: {
+              "HyperliquidTransaction:SendAsset": [
+                { name: "hyperliquidChain", type: "string" },
+                { name: "destination", type: "string" },
+                { name: "sourceDex", type: "string" },
+                { name: "destinationDex", type: "string" },
+                { name: "token", type: "string" },
+                { name: "amount", type: "string" },
+                { name: "fromSubAccount", type: "string" },
+                { name: "nonce", type: "uint64" },
+              ],
+            },
+            primaryType: "HyperliquidTransaction:SendAsset",
+            data: {
+              hyperliquidChain: parameters.hyperliquidChain,
+              destination: parameters.destination,
+              sourceDex: parameters.sourceDex,
+              destinationDex: parameters.destinationDex,
+              token: parameters.token,
+              amount: parameters.amount,
+              fromSubAccount: parameters.fromSubAccount,
+              nonce: parameters.nonce,
+            },
+          });
+        }
+
+        default: {
+          throw new Error(
+            `Unsupported Hyperliquid transaction type ${
+              (parameters as any).type
+            }`
+          );
+        }
+      }
+    }
+
     default:
       throw new Error("Unsupported vm type");
   }
@@ -514,5 +751,39 @@ export const getDecodedWithdrawalCurrency = (
     case "sui-vm": {
       return decodedWithdrawal.withdrawal.coinType;
     }
+
+    case "hyperliquid-vm": {
+      const { parameters } = decodedWithdrawal.withdrawal;
+
+      switch (parameters.type) {
+        case "UsdSend": {
+          return getVmTypeNativeCurrency(decodedWithdrawal.vmType);
+        }
+
+        case "SendAsset": {
+          const SPOT_USDC = "0x6d1e7cde53ba9467b783cb7c530ce054";
+
+          const tokenAddress = parameters.token.split(":")[1].toLowerCase();
+          const tokenDex = parameters.sourceDex;
+          if (tokenDex === "" && tokenAddress !== SPOT_USDC) {
+            throw new Error("Only USDC is supported as a Perps token");
+          }
+
+          return tokenDex === "spot"
+            ? tokenAddress.toLowerCase()
+            : tokenDex === ""
+            ? getVmTypeNativeCurrency(decodedWithdrawal.vmType)
+            : tokenAddress.toLowerCase() +
+              Buffer.from(tokenDex, "ascii").toString("hex");
+        }
+
+        default:
+          throw new Error(
+            `Unsupported Hyperliquid transaction type ${
+              (parameters as any).type
+            }`
+          );
+      }
+    }
   }
 };