Bullpen Review
Bullpen is a multi-platform on-chain trading platform that brings speed, flexibility, and accessibility to crypto traders. Supporting both Solana and Hyperliquid, it combines rapid token discovery with seamless execution to help users stay ahead of the market. With tools like Runners and Memescope, traders can spot the hottest memecoins and tokens on Solana before the crowd, while enjoying world-class trade execution.
Beyond Solana, Bullpen makes it effortless to bridge to Hyperliquid in just a few clicks, unlocking access to perpetual futures and a wide array of supported spot assets. This dual-chain approach positions Bullpen as a go-to platform for both meme hunters and serious derivatives traders, all under a self-custodial, on-chain framework. Read this Bullpen Review article to explore the platform in more depth!
What sets Bullpen apart?
- CEX Performance on DeFi Rails
Bullpen delivers sub-100ms latency, deep liquidity, and professional-grade features, powered by the combined strength of Solana and Hyperliquid. Traders get the reliability and speed of centralized exchanges, but with the transparency and self-custody of DeFi.
- One-Stop Trading
No need to juggle multiple apps or wallets. Bullpen unifies perpetual futures, Solana spot markets, and cross-chain bridging into a single trading interface — all under your control.
- Fiat to Trading in Minutes
With fiat on- and off-ramps, users can move funds directly between their bank account and the platform. This eliminates the need for multiple middlemen, making entry and exit frictionless.
- Competitions & Leaderboards
Trading isn’t just functional — it’s competitive and social. Bullpen runs frequent trading competitions with real rewards, allowing users to tag their socials, climb leaderboards, and build reputations as their calls play out.
- Community-Powered Insights
Bullpen transforms trading into a collaborative experience. Users can share token calls, showcase PnL cards, and spotlight traders driving the most attention. The best signals rise organically, helping traders learn from each other while building their profiles.
- Proven Infrastructure
Bullpen is built by a team of veterans from Hyperliquid, Deribit, Galaxy, Paxos, Zeta Markets, and Kraken — professionals who know what it takes to create reliable, large-scale trading systems. That pedigree translates into confidence for traders.
Also, you may read Hyperliquid Exchange Review
Bullpen’s Long-Term Vision
Bullpen’s roadmap extends far beyond being just another trading frontend. Its vision is bold: to become the place where anyone, anywhere, trades anything.
- Unified Trading Across Assets: A single interface for perps, spot, and whatever markets emerge next, all accessed through the same wallet.
- Exchange-Grade Experience Without the Exchange: Delivering CEX-level performance in a fully transparent, self-custodial frontend.
- Evolving Into Infrastructure: Over time, Bullpen will grow into a financial protocol layer where margin, settlement, and liquidity can be tapped across applications — not just for Bullpen’s app, but for the broader ecosystem.
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Account Funding on Bullpen
Funding your Account
Inside the fund modal, you’ll see three funding options:
- Receive:
Get the wallet addresses for Solana (both USDC & SOL) and Hyperliquid (USDC). Use this if you already have crypto elsewhere and want to deposit into Bullpen. - Buy:
Use Stripe to buy crypto with a bank account or debit card — fast, secure, and direct. - Transfer:
Move your existing funds between supported wallets/chains with just a click. For example, you can shift between Solana and Hyperliquid, or between Hyperliquid Perps and Spot.
Transferring Funds
This feature lets you do things like:
- Move SOL gains from Solana over to Hyperliquid so you can open leveraged positions
- Then later move things back again if you want
Specifically supported transfers:
- SOL ↔ USDC between Solana and Hyperliquid
- Hyperliquid Perps ↔ Hyperliquid Spot
How to make these transfers?
- Open the Fund modal.
- Use the dropdown menus to pick the “from” wallet and the “to” wallet you want funds moved between.
- One thing to note: there’s no direct route between Solana ↔ Hyperliquid Spot. If you need to do that, you’ll have to go via Hyperliquid Perps as an intermediary.
- Click “Confirm Bridge Transfer”. That’s it — the funds start moving.
Bullpen Fee Structure
Bullpen uses a fee-tier system for its Hyperliquid perps and spot trading that rewards high volume traders with lower fees. Your fee rate depends on your total trading volume over the past 30 days (a “rolling 30-day volume”). At the end of each day (UTC), your Tier is recalculated based on how much you’ve traded.
Maker Fee
Taker Fee
Bullpen Affiliate and Referral Program
Bullpen’s Affiliate & Referral Program is designed to reward both traders and community builders with one of the most generous splits in the space — up to 80% of referral fees.
- Three Tiers of Rewards: Earn 50% from direct referrals, 9% from their referrals, and 3% from the next level down.
- Discounts for Referrals: Anyone joining through your link gets 10% off trading fees, making it attractive for them too.
- Dashboard Tracking: Monitor sign-ups, trading volume, and earnings in real time.
- Social Sharing Tools: Custom PnL cards and branding options make it easy to post trades and embed referral links on platforms like X.
- Points & Tiers: Your activity also earns Bullpen Points, with seasonal tiering that unlocks higher rewards.
Bullpen’s Reward Points Program
Bullpen’s Points system is designed to reward traders for their activity and community engagement. Every trade, referral, and interaction contributes to your points balance, which in turn unlocks bigger rewards and higher referral commissions.
- Points are tracked automatically and distributed by seasons. The first ended with an Early Alpha Airdrop, and Season 2 launched in July 2025. You can always view your totals and progress in your Bullpen profile or affiliate dashboard.
- Earning points is straightforward: trade frequently and profitably, refer new users (earning 25% of the points your referrals generate), and stay active across Bullpen’s ecosystem. The more consistent your activity, the more points you accumulate.
- As you climb tiers — from Iron and Bronze up to Platinum and Diamond — your rewards scale. For example, Bronze traders unlock 50% referral commissions on direct referrals, while Platinum and Diamond users can earn up to 80%. These tiers serve not only as incentive structures but also as recognition of status within the community.
- Ultimately, the Points Program creates a system where your growth and the Bullpen’s success are aligned. It rewards consistent traders, incentivises network building, and ensures that engagement translates into tangible benefits.
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Bullpen Progressive Web App
Bullpen works as a Progressive Web App (PWA), which means you don’t need to download it from the App Store or Google Play. It runs smoothly on iOS, Android, and desktop browsers, giving you the same experience as a native app.
How to Set It Up
- Open app.bullpen.fi in your mobile browser.
- Tap “Add to Home Screen” (Safari on iPhone, Chrome on Android).
- Done — Bullpen will now open like a regular app on your device.
Verdict: Is Bullpen Worth Using?
Bullpen is best suited for active traders in the memecoin and early token space who want faster discovery and better tools than standard DEXs, cross-chain users who value seamless movement between Solana and Hyperliquid, experienced crypto traders comfortable with leverage and advanced features like stop-loss or alerts, and community-driven users looking for rewards, fee discounts, and leaderboards to boost engagement.
Frequently Asked Questions
Does Bullpen require an app download?
No. Bullpen is a Progressive Web App (PWA) that runs in your browser (iOS, Android, desktop). You can add it to your home screen, and it behaves like a native app.
What happens if I forget my password on Bullpen?
Unfortunately, your password cannot be recovered. Because your private keys are encrypted using that password, Bullpen cannot reset it. You should export your private keys and store them securely offline.
Are there error messages I should watch out for?
Yes, common errors include “insufficient SOL” (you need some SOL to pay for gas/transaction fees). Make sure your wallet has a small SOL balance.