Pump.fun has officially introduced a perpetual futures (perps) trading interface powered by the Hyperliquid protocol. According to a terms of service update dated October 17, 2026, the move brings together two high-earning protocols in the decentralized finance sector: CoinGecko data shows Hyperliquid’s year-to-date (YTD) revenue reached $429.04 million and Pump.fun’s stood at $322.21 million, generating a combined revenue of $751.25 million.
However, Pump.fun’s role here is not that of a full derivatives exchange operator.
How the Two Protocols Divide Roles
Under this integration, Pump.fun acts purely as a software frontend without serving as a counterparty to user positions. The entire execution infrastructure is handled by Hyperliquid. The protocol manages order matching, margin management, funding rate calculations, liquidation execution, and transaction settlement.
Based on app data testing, available leverage limits vary depending on the traded asset. Users can access a maximum leverage of up to 40x for Bitcoin (BTC) contracts, while Ethereum (ETH) contracts are capped at a 25x maximum leverage limit. These figures open the door to much more aggressive derivatives speculation compared to the meme coin spot trading that has traditionally been Pump.fun’s primary focus.
Fee Structure and Standard Platform Fee Exemptions
A new fee structure has been established to facilitate this derivatives trading. The terms of service outline a builder fee of up to 0.10% of the notional value per order, covering opening, increasing, and closing positions. Users must approve this fee deduction via wallet signature before an order is executed in the system.
Pump.fun exempts perpetual contract orders from its standard platform fee, which currently ranges between 0.40% and 0.45%. This policy waives regular in-app platform fees for perps transactions. However, users utilizing the native bridge feature to transfer capital balances are still subject to a transfer fee of up to 0.25% on fund flows to or from Hyperliquid, excluding bridge operator fees.
Geographic Restrictions and Notes for Users
The new derivatives service enforces strict regional access restrictions. Users from the United States and Ontario, Canada, are blocked from accessing the perps interface. This provision reflects the platform’s efforts to comply with regional regulatory guidelines across North American jurisdictions.
For traders outside restricted regions, this integration streamlines access to perpetual contract markets directly from an app already familiar to the meme coin community. Nevertheless, leverage of up to 40x demands careful margin calculation, given that position closing and liquidations are executed automatically on Hyperliquid.
Reported via crypto.news.
Read also: What Is DeFi (Decentralized Finance)?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
