Overview
- Pump.fun publicly launched perpetual futures trading on Oct. 16–17, 2026 using Hyperliquid’s infrastructure and listed a Perps section on its site.
- Under updated terms, Pump.fun acts as a front‑end that sends signed trading instructions to Hyperliquid while Hyperliquid handles order matching, margin, funding payments, liquidations, and final settlement.
- Pump.fun published fee ceilings that include a builder fee up to 0.10% per perpetual order and a bridge transfer fee up to 0.25%, with Hyperliquid’s separate trading and funding charges still applying.
- Earlier API data and reporting showed maximum leverage available of up to 40x for Bitcoin and 25x for Ether, which raises a high risk of rapid liquidation for traders using margin.
- The product builds on Pump.fun’s Aug. 26 integration of HyperEVM for USDC spot trading and taps Hyperliquid liquidity that once showed about $12.43 billion in daily perp volume, a setup that boosts revenue potential while concentrating market and regulatory risk.