Pump.fun has officially launched perpetual contracts on its app, powered by Hyperliquid, giving users on-chain access to more than 300 markets spanning cryptocurrencies, stocks, and commodities. The announcement was made on October 28, 2026 and quickly gained attention after Hyperliquid amplified the news across social channels.
The new feature supports long and short positions using an isolated margin model. Deposits can be made in USDC or SOL directly from native wallets, with no bridge required. According to published parameters, the platform offers leverage of up to 40x on Bitcoin, 25x on Ethereum, up to 20x on single stocks such as Tesla and Nvidia, and up to 50x on the S&P 500. Traders can also place take-profit and stop-loss orders during order configuration and while positions are open.
Pump.fun has set a base fee of 0.05% per transaction, reducible to 0.04% through referral codes, on top of Hyperliquid’s standard protocol fees. The service excludes users in jurisdictions where access to derivative instruments would violate local regulations, and the team warned that leveraged contracts carry partial or total liquidation risk during adverse price moves.
Despite the expanded functionality, the native tokens linked to both platforms traded lower on the day of the announcement. CoinGecko data showed PUMP at $0.004192, down about 3.0% over 24 hours, with a market capitalization near $1.93 billion and 24-hour trading volume of roughly $100 million. HYPE traded at $80.01, down 0.3%, with a market capitalization of about $19.14 billion. Hyperliquid protocol metrics reflected total value locked of approximately $8.25 billion and open interest of $4.29 billion across its perpetual contracts at the time of publication.
