Feed to something else....I have rats and though I don't breed my rats have gobbled up some feeder fish I get them once in a while and love it.
Fast blow to the head is the quickest and most painless way or severing the spinal column by removing the head. Anything beyond that seems too slow and painful to me. O.o
I know some mouse breeders when they had to cull would bash a baby's head on a table by holding the tail and swinging hard, I think smaller fish that would be hard to accomplish though. It seems mean but if it doesn't kill them off the bat it sure as hell puts them out cold and happens so fast they don't realize it happened. 0 pain is the way to go.