Pump.fun has expanded its cryptocurrency trading services by launching perpetual futures powered by Hyperliquid, marking a major shift beyond its Solana-based memecoin business. The integration allows eligible users to trade leveraged crypto derivatives through Pump.fun while accessing Hyperliquid’s established liquidity infrastructure.
The new service supports Bitcoin (BTC) perpetual futures with leverage of up to 40x and Ethereum (ETH) contracts offering up to 25x leverage. Traders can speculate on cryptocurrency price movements without directly holding the underlying digital assets.
The launch follows the discovery of derivatives-related data in Pump.fun’s API on October 9. The information included funding rates, open interest, and trading volumes connected to Hyperliquid’s HyperCore mainnet.
Rather than building an independent derivatives exchange, Pump.fun integrates Hyperliquid’s existing order books. This arrangement allows users to execute trades through Pump.fun while benefiting from liquidity already available on Hyperliquid.
HyperCore manages essential trading functions, including order matching, margin balances, funding payments, and liquidations. Pump.fun primarily provides the user-facing trading interface, simplifying access to cryptocurrency perpetual futures.
The integration builds on an earlier partnership between the platforms. In August, Pump.fun introduced HyperEVM support, enabling USDC transactions within Hyperliquid’s smart contract ecosystem.
Hyperliquid recorded approximately $12.43 billion in daily perpetual futures trading volume in late August, highlighting the liquidity supporting the new offering. Its expanding derivatives business has also contributed to trading fee revenue and HYPE token purchases through its Assistance Fund.
However, leveraged cryptocurrency trading involves substantial risks. Sudden price fluctuations can trigger liquidations and result in traders losing their entire posted collateral. Pump.fun restricts access to perpetual futures in the United States, Ontario, and other prohibited jurisdictions.
The expansion also creates additional revenue opportunities for both platforms. Pump.fun can generate fees from derivatives trading, while Hyperliquid gains another channel for attracting trading activity.
Competition between the platforms has intensified throughout 2026. In late September, Pump.fun surpassed Hyperliquid in weekly protocol revenue, generating $15.16 million compared with Hyperliquid’s $15.06 million.
Despite the introduction of crypto perpetual futures, Pump.fun’s native PUMP token declined 5.35% over the previous 24 hours, trading at approximately $0.004320.
