Key Takeaways
- • Pump.fun has launched perpetual futures offering up to 40x leverage on Bitcoin and 25x on Ethereum, executed through Hyperliquid's trading infrastructure, according to Cryptonews.net.
- • Hyperliquid handles order execution, margin, funding, liquidations and settlement, while Pump.fun supplies only the interface and states it is not the counterparty to trades.
- • Pump.fun's maximum builder fee is 0.10% of order notional and its maximum bridge fee is 0.25% per transfer; a $10,000 order would carry a $10 builder fee at the cap.
- • The service excludes users in the United States, Ontario and other restricted jurisdictions.
- • The launch gives Pump.fun a derivatives revenue stream beyond memecoin trading, which previously drove much of its business.
Summary
Pump.fun has added perpetual futures trading to its platform, allowing users to take long or short positions on Bitcoin and Ethereum without buying the underlying cryptocurrency. Bitcoin contracts offer leverage of up to 40x and Ethereum contracts up to 25x, according to Cryptonews.net. Perpetual futures are derivative contracts with no expiration date. The Perps section sits alongside the platform's existing trading products on its website. $PUMP, the platform's token, rose 3.92% to $0.004649 over 24 hours following the launch.
The service is built on Hyperliquid's infrastructure. Hyperliquid handles order execution, margin balances, funding payments, liquidations and settlement, using its existing order books rather than a separate Pump.fun derivatives engine. Pump.fun's terms, updated October 17, 2026, describe software that forwards signed trading instructions to Hyperliquid, and the company says it does not act as counterparty. The rollout follows the discovery of perpetual trading data in Pump.fun's application programming interface on October 9, 2026, drawn from Hyperliquid's HyperCore mainnet. It also builds on Pump.fun's August 26 integration of HyperEVM token trading against USDC. Existing Hyperliquid positions remain governed by Hyperliquid's margin requirements, funding payments and liquidation rules, and users can access them through other compatible interfaces.
Pump.fun's published schedule sets a builder fee of up to 0.10% of an order's notional value, applied to orders that open, increase or close a position, and a bridge fee of up to 0.25% per transfer to or from Hyperliquid, excluding the bridge operator's fees. These are maximum rates. Trading fees and funding costs on Hyperliquid are billed separately, along with a one-time account activation charge taken from the initial deposit. Pump.fun excludes perpetual orders from its standard Platform Fee, which is set at 0.45% for wallets without a referral code and 0.40% with one.
For context, Pump.fun recorded weekly revenue of $15.16 million in September, compared with $15.06 million for Hyperliquid. Those figures predate the perpetual integration and do not reflect service revenue. The order and bridge charges add a potential revenue source for Pump.fun, whose business previously relied heavily on memecoin trading. Access is barred to users in the United States, Ontario and other restricted jurisdictions.
The service is built on Hyperliquid's infrastructure. Hyperliquid handles order execution, margin balances, funding payments, liquidations and settlement, using its existing order books rather than a separate Pump.fun derivatives engine. Pump.fun's terms, updated October 17, 2026, describe software that forwards signed trading instructions to Hyperliquid, and the company says it does not act as counterparty. The rollout follows the discovery of perpetual trading data in Pump.fun's application programming interface on October 9, 2026, drawn from Hyperliquid's HyperCore mainnet. It also builds on Pump.fun's August 26 integration of HyperEVM token trading against USDC. Existing Hyperliquid positions remain governed by Hyperliquid's margin requirements, funding payments and liquidation rules, and users can access them through other compatible interfaces.
Pump.fun's published schedule sets a builder fee of up to 0.10% of an order's notional value, applied to orders that open, increase or close a position, and a bridge fee of up to 0.25% per transfer to or from Hyperliquid, excluding the bridge operator's fees. These are maximum rates. Trading fees and funding costs on Hyperliquid are billed separately, along with a one-time account activation charge taken from the initial deposit. Pump.fun excludes perpetual orders from its standard Platform Fee, which is set at 0.45% for wallets without a referral code and 0.40% with one.
For context, Pump.fun recorded weekly revenue of $15.16 million in September, compared with $15.06 million for Hyperliquid. Those figures predate the perpetual integration and do not reflect service revenue. The order and bridge charges add a potential revenue source for Pump.fun, whose business previously relied heavily on memecoin trading. Access is barred to users in the United States, Ontario and other restricted jurisdictions.
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