PumpSwap is Pump.fun’s native DEX where graduated tokens trade after completing their bonding curve. It charges 0.25% per swap (0.20% to LPs, 0.05% to the protocol) and eliminated the old 6 SOL migration fee. It’s already the second-largest AMM on Solana by volume, behind only Raydium.
This guide covers how PumpSwap works, how to trade on it, how to provide liquidity, and which bots support it.
What Is PumpSwap?
PumpSwap is an automated market maker (AMM) built by the Pump.fun team. It launched in March 2025 to replace the previous system where Pump.fun tokens graduated to Raydium’s pools.
The design is a constant-product AMM (x * y = k), the same formula used by Uniswap v2 and Raydium v4. When a Pump.fun token completes its bonding curve and raises roughly 85 SOL, it automatically migrates into a PumpSwap liquidity pool. No manual setup, no migration fee.
Before PumpSwap existed, this migration cost 6 SOL and routed tokens to Raydium. That fee is gone. Tokens now move directly into PumpSwap pools and start trading right away.
How the Graduation Flow Works
Here’s what happens when a token graduates from Pump.fun:
- Bonding curve fills — The token reaches ~85 SOL in buys
- Automatic migration — The token moves into a PumpSwap pool with zero fee
- Pool goes live — Trading continues on PumpSwap’s AMM immediately
- LP tokens are burned — Initial liquidity is locked permanently
- Open trading begins — Anyone can buy or sell through PumpSwap, Jupiter, or compatible bots
The transition is seamless. If you bought on the bonding curve, your tokens are now tradeable in the PumpSwap pool. You don’t need to do anything — the token is the same, just trading on a different mechanism.
Fee Structure
PumpSwap charges 0.25% on every swap. That fee splits two ways:
| Recipient | Share | Amount per swap |
|---|---|---|
| Liquidity providers | 80% | 0.20% |
| Protocol (Pump.fun) | 20% | 0.05% |
No fees for adding or removing liquidity. You only pay the 0.25% when swapping tokens.
For context, Raydium’s standard AMM pools also charge around 0.25%. You’re not paying a premium to trade on PumpSwap.
Keep in mind: The 0.25% PumpSwap fee is separate from any fees your trading bot charges. If you’re using BullX (1% fee) or Trojan (~0.9-1%), you’re paying the bot fee on top of PumpSwap’s swap fee.
How to Trade on PumpSwap
You can trade PumpSwap tokens through several channels:
Through Pump.fun Directly
After a token graduates, its page on Pump.fun connects to the PumpSwap pool for trading. This is the simplest approach — just keep trading on the same Pump.fun page you were already watching.
Through Jupiter
Jupiter’s aggregator routes through PumpSwap pools automatically. If PumpSwap has the best price for a given swap, Jupiter uses it. You don’t need to select PumpSwap manually — Jupiter handles the routing.
This also means any tool built on Jupiter (which covers most Solana trading tools) can access PumpSwap liquidity without dedicated integration.
Through Trading Bots
Most major Solana trading bots now support PumpSwap:
- BullX — Supports PumpSwap pools for post-graduation trading and sniping
- Trojan — PumpSwap support through Telegram
- GMGN — Scanning and trading across PumpSwap pools
- Axiom, Banana Gun, BonkBot — PumpSwap access through aggregator routing
If your bot routes through Jupiter, it can trade PumpSwap tokens even without explicit PumpSwap integration.
On-Chain Directly
For developers and advanced users, PumpSwap pools are standard Solana programs. You can interact with them directly through the smart contract, build custom bots, or integrate PumpSwap into your own tooling.
Providing Liquidity on PumpSwap
Anyone can add liquidity to PumpSwap pools. Here’s how it works.
Adding LP
- Pick a PumpSwap pool (find one via Pump.fun or tools like JumpBit)
- Deposit both tokens in the pool’s current ratio
- Set your slippage tolerance (1% works for most tokens, 2-5% for volatile pairs)
- Receive LP tokens representing your share of the pool
- Start earning 0.20% of every swap proportional to your share
Earnings Example
If you own 10% of a pool that does 100 SOL in daily volume, you earn:
100 SOL x 0.20% x 10% = 0.02 SOL per day
That sounds small, but high-volume tokens can generate solid returns. The flip side is impermanent loss — if the token’s price moves significantly in either direction, you can lose value compared to just holding.
Removing LP
You can withdraw your liquidity at any time. No lock period, no fees. You get back your share of both tokens at their current ratio.
LP Risks
Providing liquidity on PumpSwap carries real risk:
- Impermanent loss — Price changes in either direction reduce your position value compared to holding
- Rug risk — If the token crashes to zero, your LP position goes with it
- Thin pools — Many PumpSwap pools have low liquidity, which amplifies impermanent loss
LP on PumpSwap works best for tokens you believe will maintain trading activity. For short-lived meme launches, the risk usually outweighs the fees you’d earn.
PumpSwap vs Raydium
| Feature | PumpSwap | Raydium |
|---|---|---|
| AMM model | Constant product (x*y=k) | Constant product + concentrated |
| Swap fee | 0.25% | ~0.25% (varies by pool) |
| Market share (Solana) | ~18% | ~50% |
| Migration fee from Pump.fun | 0 SOL | N/A (LaunchLab: ~0.3 SOL) |
| Pool creation | Automatic on graduation | Manual or via LaunchLab |
| Jupiter routing | Yes | Yes |
| Concentrated liquidity | No | Yes (CLMM) |
PumpSwap is simpler. It does one thing: provide a trading venue for graduated Pump.fun tokens. Raydium is a full-featured DEX with concentrated liquidity, multiple pool types, and broader token coverage.
For Pump.fun tokens specifically, PumpSwap is the default destination. For everything else on Solana, Raydium still leads. Many tokens end up trading across both through Jupiter’s aggregation.
For a full launchpad comparison, see our Pump.fun vs LaunchLab vs PumpSwap guide.
Risks and Limitations
Thin liquidity: Many PumpSwap pools have limited depth, especially right after graduation. Large orders can move the price significantly. Check pool size before trading with any real size.
Token quality: Most Pump.fun tokens don’t survive past the first few hours. Graduation doesn’t mean a token has value — it just means enough SOL was raised to fill the bonding curve. Do your own research before buying graduated tokens.
No concentrated liquidity: Unlike Raydium’s CLMM pools, PumpSwap only offers basic constant-product pools. LPs can’t concentrate their capital in specific price ranges for better efficiency.
Single ecosystem: PumpSwap only handles Pump.fun graduated tokens. You won’t find established Solana tokens or cross-chain assets here. It’s a specialized venue, not a general-purpose DEX.
FAQ
Is PumpSwap safe?
PumpSwap is a smart contract on Solana. The contract itself hasn’t had reported exploits, but the tokens trading on it are high-risk by nature. Most Pump.fun tokens lose value quickly. Use PumpSwap with a dedicated trading wallet and money you can afford to lose.
Do I need to use PumpSwap directly?
No. Jupiter routes through PumpSwap automatically, and most trading bots access PumpSwap pools through aggregation. You’re likely already trading on PumpSwap without knowing it if you trade graduated Pump.fun tokens.
What’s the difference between Pump.fun fees and PumpSwap fees?
Pump.fun charges 1% while a token is on its bonding curve. PumpSwap charges 0.25% after the token graduates. They’re separate phases — bonding curve trading first, then AMM trading on PumpSwap.
Can I create my own pool on PumpSwap?
Pools are created automatically when Pump.fun tokens graduate. Manual pool creation is available for developers, but PumpSwap is designed mainly for Pump.fun’s graduation flow.
Does PumpSwap have a token?
Pump.fun has its own PUMP token. PumpSwap doesn’t have a separate token — it’s part of the Pump.fun ecosystem. The PUMP token may eventually tie into PumpSwap rewards or governance, but specifics haven’t been confirmed.
What to Read Next
- Pump.fun vs LaunchLab vs PumpSwap — Full comparison of Solana launchpads
- Pump.fun Sniper & Auto-Buy Bots — Sniping strategies for Pump.fun launches
- Best Solana Sniper & Trading Bots — Full bot comparison
- Solana MEV & Anti-MEV Guide — Protect your trades from sandwich attacks
- Detect Bundled Launches & Insider Wallets — Safety checks before buying
Disclaimer: This guide is for educational purposes only. Meme coin trading carries significant risk. PumpSwap pools can have thin liquidity and extreme price volatility. Never invest more than you can afford to lose. See our full Risk Disclaimer.
