Pump.fun perps on Hyperliquid: how the 0.10% builder fee is split
- —On a $10,000 order Pump.fun takes up to $10 versus Hyperliquid's $4.50 taker fee
- —Builder fees accrue in USDC on Hyperliquid, not in SOL on Solana
- —PUMP buybacks are defined from bonding curve, PumpSwap and Custom Pairs, excluding perps
- —Hyperliquid routes its fees to the assistance fund, which burns HYPE
Why it matters: PUMP holders face a gap: growing perps volume may not translate into token buybacks unless Pump.fun changes its revenue definition.
Source: NullTX