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Pump.fun has gone live with perpetual futures trading, letting users take leveraged positions on crypto assets including Bitcoin and Ethereum, according to Ambcrypto. The feature runs on Hyperliquid‘s trading infrastructure, and as of Ambcrypto’s October 17 report neither Pump.fun nor its leadership had formally announced it, though trading was already open.
The rollout widens Pump.fun’s reach beyond its origins as a Solana memecoin launchpad, positioning it alongside wallets and super-apps such as Phantom, MetaMask and Rabbit Wallet that use Hyperliquid to offer leveraged trading. The coverage disagrees on what it did to the PUMP token.
Also read: PUMP slides to $0.00430 as buybacks fail to halt losses
Key facts
- Ambcrypto reported leverage of up to 50x on real-world-asset perps spanning the S&P 500, oil and other U.S. stocks, alongside crypto perps.
- Blockonomi and Coincentral both reported up to 40x leverage on Bitcoin contracts and 25x on Ethereum contracts, with Hyperliquid’s HyperCore mainnet handling execution, margin and liquidations.
- Blockonomi reported PUMP up 3.92% over 24 hours to $0.004649; Coincentral reported PUMP down 5.35% to $0.004320 over the same window.
- Pump.fun charges a builder fee of up to 0.10% per perpetual order, with bridge transfers carrying an additional fee of up to 0.25%, per Blockonomi.
- The service is unavailable in the United States and Ontario, among other restricted jurisdictions, according to Blockonomi and Coincentral.
Where the reports diverge
The three accounts agree on the mechanics but split on market reaction and leverage caps. Ambcrypto framed the launch around a 34% correction in PUMP over recent days that broke the token below key moving averages; it noted that support at $0.003 and $0.004 would be tested. Blockonomi, by contrast, described a 3.92% gain to $0.004649 and said PUMP had risen roughly 8.9% from a Friday intraday low, recovering from a Thursday low near $0.00427. Coincentral recorded the opposite direction, a 5.35% decline to $0.004320.
The outlets also reported different leverage ceilings. Ambcrypto led with up to 50x on RWA contracts; Blockonomi and Coincentral gave 40x for Bitcoin and 25x for Ethereum and did not mention the RWA product. Blockonomi and Coincentral both traced the launch to perpetual trading data found in Pump.fun’s application programming interface on October 9, including funding rates, open interest and volumes sourced from HyperCore. Neither Ambcrypto nor Coincentral mentioned the fee schedule Blockonomi published.
Also read: Uniswap v4 Tops $44B in 30-Day Volume, 49.9% of Protocol Trades
Why it matters
Pump.fun previously depended largely on memecoin trading for revenue, and the new builder fee adds a second stream from derivatives activity. Blockomorph’s revenue comparison is the sharpest illustration of how close the two platforms have become: Pump.fun’s weekly revenue reached $15.16 million in September, edging past Hyperliquid’s $15.06 million, and Coincentral reported that Pump.fun had also passed Hyperliquid on 30-day revenue by early October. For Hyperliquid, added order flow feeds base protocol fees, and Ambcrypto noted that Hyperliquid directs more than 97% of its revenue to HYPE buybacks, with the token’s 2026 climb from $40 to over $80 tracked by DeFiLlama as following perp volume and revenue.
What to watch
Whether the added fee stream helps PUMP hold its $0.003 and $0.004 support zones is the immediate test Ambcrypto set out. On the Hyperliquid side, the next signal is whether the extra trading volume that Pump.fun routes in shows up in protocol revenue and buybacks. None of this is financial advice, and crypto markets are volatile and hard to predict.
Reported by ambcrypto.com.
Sources: AMBCrypto, Blockonomi, Coincentral