PumpSwap vs Raydium is mostly a question of when a token graduated. Since PumpSwap launched in March 2025, new Pump.fun graduations migrate to PumpSwap, Pump.fun's own AMM; tokens that graduated earlier trade on Raydium. For a volume session, the venue matters less than the pool behind it, because depth decides how far each order moves the price. Execution follows the token into whichever pool it uses, inside the same session.
The comparison in four lines
- The team does not pick the venue; the graduation date does. Current launches land on PumpSwap, older graduations sit on Raydium.
- Pool depth, not the name of the AMM, sets how much each order moves the price.
- A running session follows the token after migration with no new setup, and the fee stays the same flat percentage.
- Meteora and Orca mirroring is optional and only makes sense where the token actually has pools on those venues.
Which pool does a graduated Pump.fun token land in?
Every Pump.fun token starts on a bonding curve. When the curve completes, the token migrates into an AMM pool and trading continues there. For tokens graduating today, that pool is on PumpSwap, the AMM Pump.fun runs itself. Before PumpSwap existed, graduations went to Raydium, and those tokens still trade in their Raydium pools.
So the PumpSwap vs Raydium question is rarely a decision. It is a fact you read off the token. If you are planning a session on a token that graduated some time ago, check which pool it uses and how deep that pool is before you settle on order sizes.
How do PumpSwap and Raydium compare for a session?
| Aspect | PumpSwap | Raydium |
|---|---|---|
| Which Pump.fun tokens trade there | Current graduations, since March 2025 | Tokens that graduated before the switch |
| Who runs the AMM | Pump.fun | An independent Solana AMM |
| How the pool appeared | Created at graduation | Created at graduation for older tokens |
| Pool model | Constant-product AMM run by Pump.fun | Standard constant-product pools for Pump.fun graduations; Raydium also runs concentrated-liquidity (CLMM) pools |
| Migration | Automatic when the bonding curve completes | Earlier graduations were moved into new Raydium pools |
| Session behavior | Follows the token in when the curve completes | Trades there from the start for tokens that already graduated |
| Trading and network costs | Inside the flat 1% session fee | Inside the flat 1% session fee |
For a volume session, PumpSwap and Raydium behave alike: price impact depends on the reserves in the specific pool, so pool depth matters more than the venue name. Pump.fun documents PumpSwap pools and trade instructions in its public developer docs, and Raydium describes its pool types in the Raydium docs.
What changes for a volume session after migration?
On the curve, price follows a fixed formula. In a pool, price comes from the ratio of the two reserves. Three practical things change for a session once that switch happens.
Pool depth
Depth is how much SOL and token sit in the pool. A deep pool absorbs orders quietly; a thin one reacts to every print. Two tokens that both graduated last week can end up with very different depth, depending on what traders did after migration.
Price impact per order
A simple way to reason about impact is order size as a share of the pool's SOL side. Take an illustrative pool with 80 SOL on that side. A 0.40 SOL order is half a percent of it, and a 1.20 SOL order, the top of the Big prints band, is 1.5%. In a pool with 400 SOL on the SOL side, the same 1.20 SOL order is 0.3%. The thinner the pool, the lower the top of your order size band should sit.
Aggregators
Once a pool exists, aggregators on Solana tend to route through it, so outside traders can reach the token from wallets and apps they already use. That is a channel the curve phase did not offer, and it means session prints sit next to routed trades from people the team has never met.
Migration also brings the pair onto pool-indexing tools. What a session can and cannot add there is covered in DexScreener trending after graduation.
Does the session follow the token on its own?
Yes. In PumpCrest, when the bonding curve completes during a running session, execution follows the token into its pool inside the same session: PumpSwap for current launches, Raydium for older ones. You do not stop, reconfigure or pay again.
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Before completion
Orders trade against the curve through Jito bundles on a private relay, with random sizes inside your band and uneven spacing.
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At completion
The token migrates. The session keeps its wallets, order band, buy share, comment and favorite settings.
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After completion
Orders trade against the new pool. If you enabled mirroring, activity is also mirrored to Meteora and Orca.
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Afterwards
Every settled order stays on-chain and can be looked up on Solscan or on the pair page.
When is Meteora or Orca mirroring worth turning on?
PumpCrest offers mirroring to Meteora and Orca as an option that only applies after migration. It is worth a thought when the token trades in more than one place and the team wants activity visible wherever visitors find it. If the token has a single PumpSwap or Raydium pool and nothing else, mirroring has little to add.
- Turn it on when the token has pools on Meteora or Orca that visitors can actually find.
- Leave it off when the token trades in a single pool, so the session stays where people look.
- Check the depth of each extra pool, because a thin side pool reacts more sharply to the same order sizes.
Do costs differ between PumpSwap and Raydium?
Each venue has its own trading fee structure, and this guide does not quote those rates. For a session it does not matter: the Pump.fun volume bot charges one flat 1% of target volume, and that already includes swap fees on every trade, Solana base and priority fees, Jito tips, token account rent and session wallet funding.
A worked example: the Quiet tape preset runs 2,500 wallets at 0.10-0.30 SOL over 5 hours. The average order is 0.20 SOL, so the target volume is 500 SOL and the fee is 5 SOL, for about 4,000 orders. That fee is the same whether the orders land on the curve, on PumpSwap, on Raydium or in mirrored pools. The minimum target is 100 SOL.
Questions and answers
Can a team choose Raydium instead of PumpSwap at graduation?
Not through a session. Where a token goes at graduation is set by Pump.fun, and current launches go to PumpSwap. If your token graduated before the switch, it already sits on Raydium. The session trades wherever the token is, so the useful question is how deep that pool is, not which AMM runs it.
Is price impact higher on PumpSwap or on Raydium?
Neither venue is higher by default. Impact depends on how much SOL and token sit in the specific pool you trade against. A deep Raydium pool can absorb an order more quietly than a thin PumpSwap pool, and the reverse can also be true. Read the pool's liquidity on its pair page before you set the top of the order band.
Does the console ask me which venue to use?
No. You paste the mint, shape the session and fund it. The console reads public token metadata to confirm the mint, and execution follows the token: the curve first, then PumpSwap or Raydium once the curve has completed. The only venue-related choice is whether to enable Meteora and Orca mirroring after migration.
Will session trades in a Raydium pool appear on DexScreener?
Settled pool trades are public, and DexScreener lists a token once it is in a pool with at least one trade. How those trades feed any trending view is up to DexScreener, which describes its inputs but does not publish thresholds. The session reports what settles on-chain and does not promise a rank or a price move.
What happens to the session at the moment of migration?
Orders that settled on the curve stay on-chain as they are. The session then continues in the pool with the same wallets, order band, buy share, comments and favorites. If you want to change something mid-session, message support at support@pumpcrest.com; the fee is not refundable once the session has started.
Run one session from curve to pool
Drop the token address into the PumpCrest console, set an order band that suits the pool depth you just checked, and let execution follow the token wherever it trades.
We build the PumpCrest console and write these guides from the operator side: what a session spends, what settles on-chain and what a visitor sees on the board. Corrections are welcome at support@pumpcrest.com.