FAQ
What can I lose?
What you put into that position: the open fee plus the margin. Positions are isolated. One loss never touches another position or the rest of your wallet.
Who is on the other side of my trade?
The house vault. It takes every long and short, so even young coins can be traded. See The vault.
Why is profit capped at +100%?
So the vault can set aside every position's best case the moment it opens. That way every winner can be paid. At 2x the cap is reached after a price move of about 50%.
What does a trade cost?
1% of size to open, 1% to close, 0.05% of size per hour held, and 10% of the profit on a winning close. Limit fills and take profits pay 0.25% instead. Your first trade is free to open up to 0.5 SOL. See Fees.
When do I get liquidated?
When your equity falls to 10% of margin at both the live pool price and the 1-minute average price. At open that is a 45% move against you. Funding brings it closer over time.
Why did my fill differ from the chart?
You fill at the worse of the live price and the 1-minute average for your side. A long opens at the higher and closes at the lower. A short is the reverse.
Why can't I open?
The market may be opening soon, close-only or too thin, the price may be moving too fast, or a cap or the daily loss limit may be full. The app tells you which. Closing always works. See Caps and breaker.
How long can I hold?
7 days. After that anyone can close it at the normal price, and the payout goes to you.
Can I add margin or change leverage?
No. Leverage is 2x, fixed when you open. To change size, open another position or close part of this one.
Can I deposit into the vault?
Yes. Deposit SOL for vault shares that rise and fall with the vault's result. Withdrawals go through a 24 h queue and can wait. See The vault.
What is $LEVER for?
On days the vault is up, 15% of the fees go to a treasury that buys back $LEVER. You do not need $LEVER to trade, and it gives no claim on the vault. It weighs your listing votes.
Can the team take my money?
No. A margin only goes back to its owner, or to the vault on a loss. There is no admin access to traders' margins or depositors' shares. Setting changes that add risk wait a public 6 h delay, changes that reduce risk apply at once, and neither touches open positions. Until the program is frozen, its upgrade key could replace the code; see Security.
Which coins get listed?
pump.fun coins that held $100,000+ market cap for 4 h, on a canonical pool with 30+ SOL of depth and a renounced mint, after checks for bundles, wash trading and copycats. Trading opens 4 h after listing. See Listing.
Do I need $LEVER to trade?
No. Any wallet with SOL (or HYPE for HYPE markets) can trade.