Pump.fun Appears to Be Preparing Hyperliquid-Based Perpetual Futures Trading

Pump.fun, a memecoin issuance and trading platform, appears to be preparing to introduce Hyperliquid-based perpetual futures trading. An API response screen believed to be linked to Pump.fun included Bitcoin and Ether futures market data, fueling speculation that the platform could expand into derivatives.

An API response screen for Pump.fun shared across the industry on October 9 included data such as BTC and ETH prices, funding rates, open interest and maximum leverage. Both assets were classified as perpetual futures, and the connected network was listed as the HyperCore mainnet, which processes trades on Hyperliquid. The screen showed maximum leverage of 40x for Bitcoin and 25x for Ether.

Perpetual futures are derivatives that allow traders to bet on rises and declines in an asset's price without an expiration date. The screen suggests Pump.fun is integrating data from Hyperliquid's futures market. It does not, however, confirm that order placement or live trading functions will be added.

Rival platform FOMO already supports futures trading. In June, FOMO launched a perpetual futures service based on Hyperliquid and TradeXYZ. It offers products linked not only to cryptocurrencies, but also to stocks, equity indexes and commodity prices. The platform also includes social features that allow users to view other traders' activity and share investment ideas.

Because FOMO offers spot and futures trading in one place, Pump.fun's move can also be interpreted as part of a broader battle for users. The strategy may be aimed at preventing memecoin traders from moving to other apps to trade futures. If the plan materializes, competition between the two platforms could expand from memecoin trading to digital-asset trading services more broadly.