Pump.fun has expanded beyond memecoin trading by introducing crypto perpetual futures powered by Hyperliquid’s decentralized trading infrastructure. The integration enables eligible users to trade leveraged cryptocurrency contracts on Pump.fun with liquidity provided by Hyperliquid.
Pump.fun Adds Bitcoin and Ethereum Perpetual Futures
The Solana-based platform has introduced perpetual futures trading, with Bitcoin (BTC) contracts offering up to 40x leverage. Traders can trade on Ethereum (ETH) contracts with up to 25x leverage without owning the underlying assets themselves.
The development comes after the discovery of perpetual trading data in Pump.fun’s application programming interface on October 9. The data included funding rates, open interest, and trading volumes sourced from Hyperliquid’s HyperCore mainnet.
Pump.fun uses Hyperliquid’s existing order books rather than developing a separate derivatives trading system. This enables trades to use the liquidity of Hyperliquid while the user interacts with the Pump.fun interface.
The growth comes after previous progress from Hyperliquid on its perpetual futures platform, such as its ongoing work on bringing commodity futures to regulated U.S. markets.
Hyperliquid Infrastructure Supports Derivatives Trading
As part of the integration, HyperCore will take care of order matching, margin balances, funding payments, and liquidations. According to the terms of the platform, the operations are handled by Hyperliquid, and Pump.fun offers the trading interface.
The partnership is based on an existing link between the platforms. In August, the Solana-based platform added support for HyperEVM so that USDC can be used to trade spot transactions in Hyperliquid’s smart contract environment.
At the end of August, Hyperliquid saw about $12.43 billion in daily perpetual futures trading volume. Its existing liquidity allows Pump.fun to offer derivatives without establishing an independent order book.
The development comes on the heels of Hyperliquid’s derivatives growth that has helped prop up trading fee income and its ongoing HYPE token acquisitions via its Assistance Fund.
However, leveraged trading carries liquidation risks, and traders can lose their entire posted collateral during sharp market movements. Pump.fun restricts perpetual futures access in the United States, Ontario, and other prohibited jurisdictions.
Pump.fun Expands Trading Services Beyond Memecoins
Pump.fun entered perpetual futures after building its business around Solana-based memecoin launches and trading. The new product introduces derivatives alongside its existing spot trading services.
The platform has competed with Hyperliquid in protocol revenue during 2026, although their primary products serve different trading markets. In late September, Pump.fun overtook Hyperliquid in weekly revenue, generating $15.16 million against Hyperliquid’s $15.06 million.
Pump.fun can now earn additional fees from derivatives activity, while Hyperliquid receives trading orders through another interface. However, despite the launch, Pump.fun (PUMP) has fallen 5.35% over the past 24 hours to trade at $0.004320.
