Pump.fun taps Hyperliquid for perpetual futures trading — Will it boost PUMP, HYPE?

Pump.fun has rolled out support for perpetual futures (perps) for crypto assets including Bitcoin and Ethereum. The offerings also span RWA (real-world assets) perps covering the S&P 500, oil, and other U.S. stocks with up to 50x leverage, powered by Hyperliquid. 

Neither the platform nor its leadership has officially announced the update as of press time. However, the new perps feature is already live for trading. 

Pump.fun will join a growing list of super-apps and wallets (Phantom, MetaMask, Rabbit Wallet, etc.) that are using Hyperliquid to offer leveraged trading across various asset classes. 

This marks a significant milestone and evolution for Pump.fun as it expands beyond just a Solana-based memecoin launchpad to include a DeFi platform and self-custody wallet. So, will the expansion boost PUMP and HYPE tokens? 

Will Hyperliquid integration boost PUMP and HYPE?

Analysts are generally optimistic that the update will be net positive for both tokens. Such integrations are expected to increase users, trading volumes, and eventually, revenues for each protocol involved. 

In fact, Blockworks analyst Shaunda Devens billed it as a “monetization potential.”

PumpFun enabling perps through Hyperliquid is an example of the monetization potential you have when you move from pure infra (launchpad<>DEX) to owning the user as well (mobile<>terminal).

So far, Phantom, MetaMask, Trust Wallet, and Fomo are already generating $370K-$430K in weekly revenue. That’s over $22M in annualized revenue for only these three platforms. 

Assuming Pump.Fun pulls such a massive adoption scale, that’s over $20M in potential revenue. And since 50% of Pump.Fun revenue goes to PUMP buyback, it could boost the token’s value. 

Similarly, routing users to Hyperliquid translates to more volume and base protocol fees. With Pump.Fun bringing a new pipeline of traders, Hyperliquid will benefit in the long run too. 

Interestingly, Hyperliquid uses over 97% of its revenue for HYPE buybacks. So, any incremental revenue will likely scale HYPE value, especially during risk-on periods. 

In fact, DeFiLlama painted a similar picture. In 2026, HYPE’s price rally from $40 to over $80 was fueled by rising perp volume and revenue. Any brief corrections correlated with a slight dip in volume and revenue.     

That said, PUMP has seen a 34% correction over the past few days. It broke below some key moving averages, which flipped its market structure bearish. 

However, whether the Hyperliquid integration will enable buyers to defend the next support zones at $0.003 and $0.004 remains to be seen. 

Final Summary

• Pump.fun launched crypto and RWA perps with up to 50x leverage powered by Hyperliquid.
• Integration could boost Pump.Fun traction and revenue, but it’s unclear if it can help reverse the 34% pullback in October.