BitMEX & Bybit Launch PUMP/USDT Futures with 2x–50x Leverage
Bybit and BitMEX have each rolled out new PUMP/USDT futures products, expanding leveraged trading on the PUMP token. Bybit’s PUMPFUN/USDT perpetual contract offers up to 50x leverage around the clock, settled in USDT, aiming to boost liquidity and price discovery for PUMP. BitMEX has launched a pre-launch USDT-margined PUMPUSDTN25 futures contract with up to 2x leverage, expiring July 25, 2025. The PUMP contract size equals 1 PUMP (100 PUMP lot), with 50% initial and 25% maintenance margin, ±20% hourly limits and auto-deleveraging for extreme volatility. Both PUMP/USDT futures permit traders to hedge or speculate on pump.fun’s native token—stemming from a Solana-based launchpad using a bonding curve model—and reflect growing demand for altcoin derivatives. These listings may drive higher volume and liquidity in the PUMP market, though traders should be mindful of elevated risk and volatility inherent to pre-launch and high-leverage products.
Bullish
Listings of these PUMP/USDT futures on two major platforms significantly expand trading channels for PUMP, likely attracting new liquidity and speculators. In the short term, we can expect elevated trading volumes and heightened volatility as traders leverage the 2x and 50x products for arbitrage and hedging. Over the longer term, deeper market depth and improved price discovery from continuous USDT-settled perpetual and fixed-term futures may underpin a more resilient PUMP market, supporting sustainable growth and positive price momentum.