Pump.fun Adds Cross Margin to Hyperliquid-Powered Perps
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Pump.fun has upgraded its Hyperliquid-powered perpetual futures product with cross-margin support, adding TWAP execution and manual margin adjustments roughly three weeks after launching perps with isolated margin on Oct. 28. The move lets traders pool collateral across positions rather than ring-fencing margin per trade, broadening the toolkit of a platform best known for memecoin launches as it pushes deeper into derivatives. Cross margin raises capital efficiency but also concentrates liquidation risk across a trader's book, making the added TWAP and manual margin controls the key risk-management levers to watch. Next up: whether the upgrade lifts perps volumes and open interest on the Hyperliquid-backed venue, and whether cross margin draws larger traders who had stuck to isolated margin.
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Pump.fun, Hyperliquid (HYPE)
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