bonk.fun vs pump.fun: fees, migration and outcomes

Updated 3 October 2026 · by AtroX · Belphor Research · the data behind this guide

As of October 2026, pump.fun charges 1.25% on every bonding-curve trade and graduates coins into its own PumpSwap pools. bonk.fun runs on Raydium's LaunchLab: Raydium's public configuration for two of the three letsbonk.fun platforms sets a 1.25% platform fee on top of Raydium's 0.25% trade fee, 1.50% a trade, and its coins graduate into Raydium CPMM pools. Belphor's migration outcomes cover pump.fun only: 90% of 8,590 pump.fun migrations were down 80% or more at their latest reading as of 3 October 2026.

Two launchpads, two stacks

pump.fun runs its own bonding-curve program and its own exchange, PumpSwap. bonk.fun's terms (last updated 30 September 2025) describe it as a non-custodial front end to smart contracts on Solana, including contracts developed and maintained by Raydium, operated under the laws of the British Virgin Islands, and state that it is not affiliated with, sponsored by or endorsed by Raydium. In practice a bonk.fun coin lives on Raydium's LaunchLab bonding curve and graduates into a Raydium pool.

bonk.fun publishes no fee schedule of its own. Its fees are set in the LaunchLab configuration of each launch platform, which Raydium publishes through its public API and documents in its LaunchLab pages. The bonk.fun column below comes from that data, read on 3 October 2026, for the three platform configurations Raydium lists under the name letsbonk.fun.

Sources: pump.fun's fee page and developer documentation; bonk.fun's terms and revenue page; Raydium's LaunchLab documentation and its public API, read 3 October 2026. The links are listed at the end. Which of the three letsbonk.fun configurations a given launch uses is not stated on a bonk.fun page.

Fees on the curve

On pump.fun every curve trade pays 1.25% and the coin's creator receives 0.30% of it, as set out in pump.fun creator fees explained. On a LaunchLab curve the fee is a stack, according to Raydium's fee reference: Raydium's protocol fee, the platform's fee, a creator fee and a referral fee where one applies, with each applicable component set by its configuration or transaction. For two of the three letsbonk.fun configurations that stack comes to 1.50%, with nothing to the creator on the curve. The price a trader actually pays shows in the swap quote before confirming.

Graduation

A pump.fun coin graduates when its curve has sold every token it holds, and pump.fun moves the liquidity into a PumpSwap pool, charges 0.015 SOL and burns the LP tokens: pump.fun migration explained. A LaunchLab coin graduates at its funding target into a Raydium CPMM pool, and Raydium's documentation says the platform's share of the LP is locked and the rest burned. After graduation, pump.fun lists 1.25% below 420 SOL market cap, falling as the market cap grows, and the pools linked to two letsbonk.fun configurations total 1.25%, with a creator share set by the platform's pool configuration.

Outcomes: pump.fun only

Belphor's migration and takeover records used here cover pump.fun. Its ignition record covers qualifying Solana pools, but does not publish a separate bonk.fun outcome cohort, so there is no bonk.fun outcome to compare here, and this page does not estimate one. For pump.fun, as of 3 October 2026, 90% of the 8,590 migrations recorded between 25 August and 3 October 2026 were down 80% or more at their latest reading and 7.5% were above their migration price.

Fetched from the public JSON on 3 October 2026. The live table refreshes daily; this article is a dated snapshot of it. How each column is measured: how Belphor measures outcomes.