Perps on real on-chain revenue. Go long Pump.fun's fees. Short a dying protocol's earnings. The first market where fundamentals are the price feed.
Protocol revenue is public data, but nobody is trading it. If you can read a DeFiLlama dashboard, you have edge over the market.
Fees collapsing? Volume drying up? Now you can express that view with leverage instead of just watching tokens bleed.
Product launches, fee switches, governance votes — revenue metrics move on events. Perfect for directional trades with defined catalysts.
| Market | Underlying | 24h Revenue (ref) | 7d Trend |
|---|---|---|---|
|
PUMP-REV
Pump.fun daily revenue
|
Rolling 24h fees | $778K | ▼ -8.2% |
|
HYPE-REV
Hyperliquid daily revenue
|
Rolling 24h fees | $3.95M | ▲ +18.2% |
|
AAVE-REV
Aave daily revenue
|
Rolling 24h fees | $2.04M | ▲ +5.8% |
|
JUP-REV
Jupiter daily revenue
|
Rolling 24h fees | $1.19M | ▲ +2.4% |
|
RAY-REV
Raydium daily revenue
|
Rolling 24h fees | $395K | ▼ -4.1% |
Reference revenue data from DefiLlama. Markets settle against rolling 24h on-chain fee data.
Memecoin launches spike during market euphoria. Pump.fun hit $3.38M in 24h revenue at peak (Sep 2025). You see BTC breaking ATH, memecoin chatter surging — you go long PUMP-REV before the fee spike materializes.
Raydium launched perps in Jan 2025, but Jupiter and Drift dominate Solana perp volume. RAY-REV struggles to gain traction. You short the underperformer as market share consolidates.
Hyperliquid dominates perp DEX with 80%+ market share and $3.95M daily revenue. Jupiter perps at $1.19M. Bet on the relative fundamental divergence continuing.
Pump.fun announced creator fees "may have skewed incentives" and are being revamped (Jan 2026). Revenue may dip during transition. Short the uncertainty, cover on resolution.
Any EVM wallet. No KYC. No sign-up. Just connect.
Bridge USDC to Hyperliquid. All markets are USDC-margined.
PUMP-REV, HYPE-REV, AAVE-REV — choose which protocol's revenue you want exposure to.
Up to 20× leverage. Isolated margin. Set your TP/SL and let it ride.
Crypto protocols generated $2.4B+ in app revenue on Solana alone in 2025.
Pump.fun alone has earned $890M cumulative.
There is no liquid market to trade any of it — until now.
Sources: CryptoPotato · DefiLlama
Protocol revenue is fully on-chain and verifiable. Unlike earnings calls that happen quarterly, on-chain fees update every block. This creates a high-frequency fundamental signal that traders can act on in real-time.
Revenue swings are massive and predictable. Pump.fun's 24h revenue has ranged from $778K to $3.38M in the past 6 months — a 4× range driven by market cycles, product launches, and fee policy changes. That's volatility you can trade.
Data from DefiLlama, fees.pump.fun, Blockworks. Revenue figures approximate, subject to real-time fluctuation.
Deployed as a native Hyperliquid perp DEX. Same orderbook engine, same latency, same UX you already know.
Your keys, your funds. Isolated margin. No counterparty risk beyond protocol risk. 500K HYPE staked as deployer bond.
Markets settle against real-time on-chain fee data. Transparent, verifiable, no trust assumptions on the data feed.