Pump.fun’s app now lists perpetual futures routed to Hyperliquid, expanding the memecoin platform into leveraged trading under terms that put trade operations in the exchange’s hands. Bankless reported on Oct. 16 that trading had gone live; Pump.fun’s current site lists a Perps section, and its terms updated Oct. 17 describe how it works.
The terms assign Hyperliquid responsibility for orders, positions, margin balances, funding calculations, liquidations and settlement. Pump.fun describes its role as providing software access and says it is not a counterparty to the contracts. Hyperliquid runs the trade mechanics while Pump.fun may charge for orders routed through its interface.
Pump.fun’s fee schedule allows a builder charge of up to 0.10% of an order’s notional value when a user opens a position, adds to it or closes it. Transfers through the app’s bridge to or from Hyperliquid may incur a separate fee of up to 0.25% per transfer. The general Platform Fee does not apply to Perps orders, but users may also pay Hyperliquid trading and funding fees, bridge operator charges and a one-time Hyperliquid account activation fee.
The schedule allows Pump.fun to earn builder fees from routed orders, while traders may bear those charges and other applicable fees. The terms bar users in the United States and Ontario, Canada, as well as people in certain sanctioned or otherwise restricted jurisdictions. They warn that a user can lose all posted collateral and that Hyperliquid can liquidate a position under its own rules.
Pump.fun announced HyperEVM support on Aug. 26, saying users could trade HyperEVM tokens in its app. Its published terms and fee schedule do not specify leverage limits for individual assets.
