Hyperliquid lists meme coin perps through validator-operated markets. Its August 11 official API snapshot returned 177 active validator-operated perps, with leverage and availability set per market. Drift, once the built-in Solana-native option, has been offline since its April 2026 exploit. It is not a live Solana-native option. Jupiter Perps currently lists SOL, ETH, and wBTC perps, with no meme pairs.
Use the live tools
How Meme Coin Perp Listings Work
Venue operators set listing rules, risk checks, and market parameters. Listing time differs by venue and asset. Check the live market list before you choose a venue.
Compare the trade before ranking the venue
Leverage on Meme Pairs: Expect Limits
Meme coins are riskier, so DEXes apply lower leverage caps on these pairs than on BTC or ETH:
- Hyperliquid: Smaller markets use lower asset-specific caps; BTC currently reaches 40x and ETH 25x. Check each pair before sizing.
- GMX: 100x on majors, but meme token listings are thin. Only useful if the specific token is listed.
- Jupiter Perps: SOL, ETH, and wBTC at up to 250x. It does not list meme perps.
| Venue | Meme listings | Typical meme leverage | Taker fee |
|---|---|---|---|
| Hyperliquid | Check the exact meme market; 177 was the total active base-perp count in the August 11 snapshot | Market-specific | 0.045% |
| GMX | Rare | 100x majors only | 0.04-0.06% |
| Jupiter Perps | None | n/a | 0.06% |
Historical note: Drift Protocol (offline)
Before the exploit, Drift listed Solana-native assets such as WIF, BONK, and POPCAT. Its old schedule included a maker rebate and 0.035% taker fee. Meme leverage was 5x-10x within its 20x cap. These values do not apply to live trading. Drift has been offline since April 2026. The planned Velocity relaunch is not live.
Always check the cap on your target pair. These change as depth evolves. Use the position calculator to size correctly under low leverage.
Depth and Slippage
Meme coin order books can be thin. Check live depth before you submit a large market order. Jupiter Perps and GMX use pool-based pricing. Both can apply price impact, fees, and borrow costs.
A larger order reaches more price levels
The best ask is $100.10. It cannot fill all 25 units by itself.
Reported volume and open interest do not measure the quantity executable near the current price. Inspect the actual order book or pool quote for the intended size.
Fees for Meme Traders
Lighter charges 0% maker and taker on standard accounts. Hyperliquid charges 0.045% taker at its base tier.
Platform Notes by Use Case
Validator-operated meme listings: Hyperliquid. Its August 11 API snapshot returned 177 active perp markets. Check the live order book before each trade.
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Solana majors alongside your meme book: Jupiter Perps supports SOL, ETH, and wBTC. It charges 0.06% to open and 0.06% to close. Price impact and borrow fees can also apply.
Check funding rates across meme pairs before entering. High positive funding on trending memes means you pay a real carry cost to stay long. Use the funding rates tool before opening any position, and treat leverage caps as a hint: if the venue will only give you 5x, it is telling you something about the asset. Our high-leverage guide explains why chasing more is usually a mistake on memes.
Which DEX lists new meme coins first?
Listing times vary.
Hyperliquid supports validator-operated markets. Drift has been offline since its April 2026 exploit.
Can I trade meme coins on Jupiter Perps?
No.
Jupiter Perps currently supports SOL, ETH, and wBTC perp markets. Drift, the old Solana order-book option, is offline pending its Velocity relaunch.
Why is meme coin leverage capped so low?
Venues set market-specific risk and position limits.
Check the exact cap and maintenance requirement. This guide does not establish a typical daily price range for meme assets.
What do meme perps cost to hold?
Funding depends on the settled rate, position notional, and interval.
Price impact, fees, and other holding charges can also apply. Review current observations and test changing rates.