pump.fun app adds Hyperliquid perps, closed to US, Ontario

What happened

pump.fun’s app gained a perps tab in mid-October. A perpetual future (“perp”) is a leveraged contract with no expiry that tracks an asset’s price. pump.fun’s own Perps page was live by 16 October (archived at 23:17 UTC that day), describing “Hyperliquid perpetuals on pump.fun: crypto, stock and commodity markets with isolated margin, funded straight from your pump wallet.” Bankless reported the switch-on the same day. pump.fun made it official on 28 October: “Perps are live on the Pumpfun app,” with “300+ Hyperliquid markets” traded from a USDC balance with no separate bridging step.

How it works

pump.fun is only the interface. Under section 30B of its Terms, every order, position, funding payment and liquidation is handled by Hyperliquid, and collateral sits in your own Hyperliquid account, moved there through a third-party bridge (Relay, as of the Terms dated 17 October). pump.fun earns a builder fee on each order; it cut that fee’s cap from 0.10% to 0.05% by 28 October (our story). The 0.45% Platform Fee on spot trades does not apply to perps.

Who can use it

Section 30B.2 makes perps a “Restricted Feature”: not available to anyone in the United States or the Province of Ontario, in a prohibited or sanctioned jurisdiction, or restricted under Hyperliquid’s own terms. Spot trading in the app is not affected.

The risk

Perps are leveraged. The Terms warn that a position can lose all the collateral behind it and be liquidated automatically at Hyperliquid’s prices. Full fees and limits are on our pump.fun perps page.