Is there a Bullpen airdrop?
Not officially. Bullpen runs a program called BULL Points. Its docs describe no token, no conversion rate and no airdrop date. Season 3 of the program started on 8 October 2025 and introduced weekly distributions, which the docs still describe as current.
What Bullpen is
Bullpen is a non-custodial trading terminal. Perpetual futures execute on Hyperliquid, and so do major spot assets such as BTC, ETH, SOL and HYPE. Other Solana tokens are routed through Jupiter Ultra, and prediction markets execute on Polymarket. Signing up creates an embedded Turnkey wallet, and you can export its private key at any time. Leverage reaches 50x on BTC and ETH.
How Bullpen points work
An epoch runs from Wednesday to Tuesday night Eastern Time. Points for it arrive the following Wednesday, and you don't need to claim them. Trading on Polymarket, Solana, Hyperliquid perps and Hyperliquid spot all earns points, and the docs say volume, frequency and trade size matter. Referrals, competitions and posting from a connected X account earn points too. The docs give no formula.
Bullpen airdrop step-by-step guide
- Open app.bullpen.fi and sign up with a wallet, X, Google or email.
- Deposit. The FAQ lists crypto transfers from any wallet or exchange, card payments and bank transfers.
- Trade. Perps, Hyperliquid spot, Solana tokens and Polymarket positions all count toward points.
- Create a referral link at app.bullpen.fi/referrals if you plan to invite other traders.
Join BullpenOpens app.bullpen.fi
Bullpen costs and fees
On Hyperliquid perps Bullpen charges 3.5 basis points to makers and 4.5 to takers at the lowest tier, on top of Hyperliquid's own fees. Tiers follow 30-day volume. Hyperliquid spot buys carry no Bullpen fee, and spot sells cost 10 basis points. Solana swap fees depend on the route and are shown before you trade.
Bullpen risks and eligibility
- The terms bar nationals and residents of Cuba, Iran, North Korea, Sudan, Syria and other embargoed countries, along with anyone on a sanctions list.
- Users must have reached the age of majority where they live.
- Points have no stated value, and no token exists for them to convert into.
- At 50x leverage, a 2% move against you wipes out the margin.
- The terms state that Bullpen is not registered or licensed by the CFTC, the SEC or any other financial regulator.
Who is behind Bullpen?
Bullpen Labs, Inc. builds the app. Its docs name Sal Qadir as CEO and list Ansem and Luca Spinazzola as co-founders. They say 6th Man Ventures led the seed round and that Manifold, Karatage, Temporal, Delphi Ventures and Sparta also invested. The docs give no round size and say a funding announcement is still to come.
Sources
- BULL Points Bullpen docs
- What is Bullpen? Bullpen docs
- FAQs Bullpen docs
- Team Bullpen docs
- Investors Bullpen docs
- Terms of Service Bullpen
This guide explains how the program works. It isn't financial advice, and no airdrop is guaranteed. Check Bullpen's official channels before you connect a wallet or deposit funds.
