What is PumpSwap? Fees, graduation and trading

PumpSwap is pump.fun’s own exchange on Solana: when a pump.fun coin fills its bonding curve, it graduates to a PumpSwap pool and keeps trading there. The PumpSwap fee falls from 1.25% to 0.30% as the coin’s market cap grows, and the easiest way to trade it is the pump.fun app, our best overall memecoin app.

PumpSwap at a glance

Sources: pump.fun Fees page (opens in a new tab) (updated 17 October 2026), pump.fun site footer, checked 24 October 2026.

PumpSwap is big. DefiLlama counts about $9.89 billion in PumpSwap trades in the 30 days to 23 October 2026, and $291 billion since launch (DefiLlama (opens in a new tab)). That is about twice the $4.82 billion that traded on pump.fun’s bonding curves in the same 30 days.

How graduation to PumpSwap works

Every new pump.fun coin starts on a bonding curve: a price formula where the price goes up as people buy. Pump.fun calls the move from the curve to PumpSwap graduation.

1. A creator launches a coin. It has no platform fee, only the Solana network fee and a rent deposit (Fees page (opens in a new tab)).
2. The coin trades on the curve. Each trade pays 1.25%: 0.95% to the protocol and 0.30% to the creator.
3. Buyers fill the curve. The coin graduates and moves to a canonical PumpSwap pool. Pump.fun charges 0.015 SOL for this step.
4. The coin trades on PumpSwap. From now on, the fee follows the market-cap tiers in the next section.

Most coins never reach step 3. The Block reported that 6.7% of pump.fun coins graduated on one day in July 2026, after the BOOST launch change. The four-day average was 4.7%, and the week before it was 2.5% (The Block (opens in a new tab)).

Pump.fun does not state the exact graduation point on the official pages we read on 24 October 2026, so we do not give a number here.

PumpSwap fees by market cap

On PumpSwap, the fee depends on the coin’s market cap: the bigger the coin, the lower the fee. Pump.fun measures the market cap in SOL, as the price times 1 billion tokens. These tiers apply to canonical pools, the pool a coin gets when it graduates.

Sources: pump.fun Fees page (opens in a new tab), updated 17 October 2026. Between the rows above, the total fee drops by 0.05 percentage points per tier.

Other coin types have their own rules:

• USDC coins: 1.25% from 0 to 59,000 USDC market cap, 1.20% from 59,000 to 300,000 USDC, then down step by step to 0.30% at 20 million USDC and up.
• Non-canonical PumpSwap pools (pools other than the graduation pool): a flat 0.30%, with 0% to the creator, 0.05% to the protocol and 0.25% to liquidity providers.
• Custom Pair coins (paired with assets other than SOL or USDC): a flat 0.30% on PumpSwap.

What a PumpSwap trade costs in the pump.fun app

Trades in the pump.fun web app or mobile app pay a Platform Fee on top of the pool fee: 0.45%, or 0.40% with another user’s referral code. The app shows it as a separate line before you confirm (Fees page (opens in a new tab)). Solana network fees come on top.

Totals are our sums of the pool fee and the Platform Fee from the Fees page. For every pump.fun fee in one place, with $100 and $1,000 examples, read our pump.fun fees guide.

PumpSwap creator fees

Creator fees are the part of each trade that goes to the person who launched the coin. They apply to every coin on the bonding curve and on PumpSwap since 13 May 2025 (Fees page (opens in a new tab)).

On PumpSwap, the creator share follows the market-cap tiers: 0.30% at 0–420 SOL, 0.95% at 420–1,470 SOL, and 0.05% at 98,240 SOL and up. So the creator share is highest in the 420–1,470 SOL tier and smallest once the coin is large.

A creator can also choose where the fee goes:

• Holder Rewards coins send the creator fee to holders with at least $20 of the coin, in proportion to their holdings, after distribution costs. Pump.fun’s terms (opens in a new tab) say these rewards are not guaranteed.
• Charity coins send the creator fee to a charity.

On routes through more than one pool, the pump.fun web app, mobile app and Terminal charge the protocol fee once on the first pool, and the creator and LP fees once on the last pool. Other interfaces may charge on every pool (Fees page (opens in a new tab)).

How to trade on PumpSwap in the pump.fun app

You do not need a separate exchange for a graduated coin. In the pump.fun app, you buy it from the coin’s page, the same way as a coin on the curve (Making a Trade on the Mobile App (opens in a new tab)). Locke trades in the app every day.

1. 1

   Get the app and sign up

   Download the pump.fun app for iPhone or Android and sign up with an email, Google or Apple account. Type the referral code lockein when you sign up. Our pump.fun tutorial shows each screen.
2. 2

   Add funds

   Deposit SOL or buy with a card in the app. Type the code before your first card deposit if you want the deposit match.
3. 3

   Find the coin by its address

   Search the coin’s contract address, not its name. Copy the address from the project’s official X account or website, because fake coins copy names and pictures.
4. 4

   Enter the amount and read the fee line

   Before you confirm, the app shows the Platform Fee as a separate line: 0.40% with a code, 0.45% without. The pool fee depends on the coin’s market cap.
5. 5

   Approve the trade

   The coins go to your self-custody wallet. You cannot reverse a trade after you submit it.

With code lockein you pay a 0.40% app fee (pump.fun calls it the Platform Fee) instead of 0.45%. New app users can get up to $50 matched on their first card deposit if they type the code in the app before that deposit and trade on 5 days within 10 days, while the budget lasts. The match is not available in the UK (Referral Rewards terms (opens in a new tab)). Our pump.fun referral code page has the full terms.

You can also trade PumpSwap pools on the web at swap.pump.fun, which pump.fun links in its site footer. Check the fee line there before you confirm.

Safety checklist before you buy on PumpSwap

1. Check the contract address: confirm it on the project’s official channels. A copied name or logo proves nothing.
2. Check the top holders: if the top 10 wallets, without the pool, hold most of the supply, a few sellers can crash the price. Our pump.fun safety guide gives the thresholds.
3. Check the dev wallet: see if the creator still holds a large share or already sold.
4. Check the liquidity: a small pool means a small sell moves the price a lot, and you may not exit at the price you see.
5. Know the fee tier: a coin just after graduation pays 1.25% per trade in the pool, plus the app fee. Frequent trades in a small coin cost a lot.
6. Size for a total loss: buy only what you can lose in full, and decide your exit before you buy. Read our rug pull guide for the red flags.

Mistakes to avoid

• Do not treat graduation as proof of quality. It only means that buyers filled the curve.
• Do not search coins by name. Fake coins copy names and pictures; use the contract address.
• Do not forget the app fee. The 0.45% or 0.40% Platform Fee comes on top of the PumpSwap pool fee.
• Do not trust posts that promise a fee-free app. The official Fees page shows a Platform Fee on every app trade; a referral code lowers it to 0.40%, not to zero.
• Do not share your private key. Pump.fun asks for it only in its own “Link email & socials” dialog, never in a DM.

Bottom line

PumpSwap is where pump.fun coins trade after they graduate. The pool fee falls from 1.25% to 0.30% as a coin grows, creators earn part of every trade, and trades in the app add a 0.40% fee with code lockein. For most traders, the easiest way in is the pump.fun app: start with our pump.fun tutorial.

Changelog

• 2026-10-24: first version published.