Venues / Wallet
Wallet · Solana · Ethereum · Base · Polygon · BNB Chain · Bitcoin · HyperEVM · Robinhood Chain · ArcPhantom wallet
Phantom is a self-custodial multi-chain wallet (Solana, Ethereum, Base, Polygon, BNB Chain, Bitcoin, HyperEVM and others) with built-in swaps, cross-chain swaps, Hyperliquid-powered perps, prediction markets and a Cash stablecoin account. It charges a 0.85% Phantom fee on most swaps.
Cost: 0.85% Phantom fee on most swaps (including cross-chain swaps), plus network fees and price impact. Swapping supported stablecoins (USDC, USDT, USDG, PYUSD) into the Cash account is free. Perps cost 0.095% per position operation (0.05% Phantom + 0.045% Hyperliquid). A $1,000 buy-and-sell costs about $17.00 in Phantom fees.
Referral: 10% of own eligible trading fees rebated for 3 months, paid in CASH.
Checked 2026-10-16 · sources belowMore on Phantom: Is it legit? · Fees · Alternatives
- Status
- live
- Custody
- non-custodial
- KYC
- onramp-only
- Platforms
- ios, android, extension, web
- Round trip fee
- 1.7%
- Launched
- —
- Fees paid, 30d
- $7.8M
Users paid Phantom about $7.8M in fees in the 30 days to 2026-10-16 (DefiLlama) — a rough measure of how much it is actually used.
Best for: Solana-first users who want one self-custodial app for swaps, cross-chain swaps, Hyperliquid perps and predictions.
Phantom fees
| Fee | Type | Rate | Applies to | Note |
|---|---|---|---|---|
| Phantom swap fee | platform | 0.85% | Buy and sell | Applied to most swaps, buy or sell. Some flows (e.g. deposits to the perps balance) carry no Phantom fee. |
| Stablecoin to Cash account | platform | 0% | buy | Swapping USDC, USDT, USDG or PYUSD into the Cash account is free. |
| Network fee | network | — | Buy and sell | Paid in the chain's native token; cross-chain swaps can incur fees on both chains. |
| Price impact / bridge fee | lp | — | Buy and sell | Onchain liquidity cost; on cross-chain swaps the bridge provider fee (LI.FI, Relay, deBridge, Garden) is folded into price impact. |
| Gasless transaction fee | network | — | Buy and sell | Gasless Solana transactions include a flat fee deducted from the token used; amount not published. |
| Prediction market fee | platform | — | Buy and sell | 0.1 x p x (1-p) x contracts; e.g. 100 Yes contracts at $0.75 = $1.875. |
| Perps deposit/withdrawal | protocol | 0.07% | Buy and sell | Hyperliquid charges 1 USDC on first deposit and first withdrawal, then a 0.07% spot swap fee plus network fee. |
| Trade size | Phantom fee, buy + sell | With referral discount |
|---|---|---|
| $100 | $1.70 | $1.53 |
| $1,000 | $17.00 | $15.30 |
| $10,000 | $170.00 | $153.00 |
Perps: taker 0.095%, maker — — 0.095% per position operation (open, add margin, flip, close) = 0.05% Phantom builder fee + 0.045% Hyperliquid. Can vary by order type, market, account tier; HIP-3 (equity) markets can add deployer fees.
Platform fees only. On-chain network/priority fees, pool (LP) fees and price impact are extra and vary by trade.
Is Phantom legit?
Self-custodial: keys are held by the user via a recovery phrase or Google/Apple sign-in recovery. Perps balances sit on Hyperliquid tied to the user's Ethereum address. The Cash account requires identity verification for some features (US/EU).
Backers: a16z, Variant, Jump Capital (Series A) ($9,000,000), 2021-07; Paradigm (lead, Series B) ($109,000,000), 2022-01; Sequoia Capital and Paradigm (co-leads, Series C, $3B valuation) ($150,000,000), 2025-01.
Incidents on record
- 2022-06-15: "Demonic" browser-extension vulnerability disclosed. Halborn alerted Phantom (and other extension wallets) in late September 2021 that recovery phrases imported into the extension could be recovered from memory by an attacker with device access. Phantom says fixes rolled out from January 2022 and users were protected by April 2022. Source
- 2022-08-10: Solana wallet drain (Slope) affected Phantom users. About $4.08M was drained from 9,230 Solana wallets. Phantom said it found no evidence its systems were compromised; Solana developers traced the incident to the Slope wallet app. Source
- 2025-04-14: Lawsuit alleging security flaws filed in SDNY. 14 plaintiffs sued Phantom Technologies alleging private keys were exposed in browser memory, enabling a ~$500K WIENER token theft; they seek $3.1M. Phantom said the claims are 'entirely without merit'. Allegations, no ruling in source. Source
The full "is Phantom legit?" check →
Where Phantom is available
| Region | Status |
|---|---|
| United States | Partly available |
| United Kingdom | Partly available |
| European Union | Partly available |
Wallet and Cash account are worldwide. Perps are unavailable in the US, UK and sanctioned regions. Tokenized stocks are unavailable in France, Germany, the Netherlands, the UK and the US. Prediction markets vary by region. Debit card and bank transfers are US-only (excluding New York). (source)
We report what the venue's own terms say. Don't use a VPN to get around restrictions; venues can freeze accounts that do.
Pros and cons
Pros
- Self-custodial wallet covering Solana, Ethereum, Base, Polygon, BNB Chain, Bitcoin and HyperEVM.
- Stablecoin (USDC, USDT, USDG, PYUSD) swaps into the Cash account carry no Phantom fee.
- Perps through Hyperliquid at 0.095% per position operation, usable from mobile and Phantom Terminal.
- Referral rebate of 10% of eligible fees for 3 months for new mobile signups.
Cons
- 0.85% swap fee on most swaps (1.7% for a buy-and-sell round trip), on top of network fees and price impact.
- Perps are unavailable in the US and UK; tokenized stocks are blocked in the US, UK, France, Germany and the Netherlands.
- Dropped Monad (Aug 2026) and Sui (Sep 2026) support; Arbitrum, Optimism and Avalanche are not supported.
- Referral codes only work at mobile signup and can't be added afterwards.
Features
swapscross-chain swapsperpsprediction marketscopy tradinglimit ordersgasless transactionscash accountdebit cardstakinghardware wallet supportmobile appbrowser extensionweb terminal
Phantom referral code
What you get: 10% of own eligible trading fees rebated for 3 months, paid in CASH. Codes only apply at signup.
What the referrer gets: 25% of net trading fees Phantom receives from the referee's eligible trades for 3 months
Alternatives to Phantom
Rabby
EVM users who want pre-signing transaction simulation and approval controls, with low-fee in-wallet swaps across many chains.
Round trip: 0.5%
Trust Wallet
Mobile-first users who hold assets across many chains (100+) and want in-app swaps, staking and perps in one self-custodial wallet.
Round trip: 1.4%
Backpack
Solana and EVM users who want a self-custodial wallet tied to the Backpack/Mad Lads ecosystem and an optional regulated exchange.
Round trip: 1.7%
MetaMask
Users who want one self-custodial wallet across EVM chains, Solana and Bitcoin, with built-in swaps, bridging and (outside the US/UK) perps.
Round trip: 1.75%
All Phantom alternatives compared →
Head to head
Where Phantom ranks
- #1 in Best Solana walletsof 7
- #1 in Best crypto wallets for memecoinsof 8
- #2 in Best apps to buy crypto and memecoins with Apple Payof 7
- #3 in Best memecoin trading appsof 10
- #3 in Wallets with the lowest swap feesof 8
- #3 in Best memecoin platforms for beginnersof 10
- #4 in Best apps to buy meme coinsof 10
- #6 in Best platforms for trading Base memecoinsof 10
- #6 in Best platforms for trading BNB Chain memecoinsof 10
- #7 in Best platforms for trading on Robinhood Chainof 10
- #8 in Cheapest Solana trading platformsof 10
- #8 in Cheapest way to trade Pump.fun coinsof 10
- #9 in Lowest-fee crypto trading appsof 10
Explainers related to Phantom
- What are Hyperliquid builder codes? (the extra fee apps add to your trades)
- What is an embedded wallet in a trading app? (Privy, Turnkey and custody explained)
- What is freeze authority on a Solana token? (and how it can trap holders)
- What is mint authority on a Solana token? (and why traders check it)
- What is a Solana priority fee? (and how much should you set?)
Phantom FAQ
Is Phantom legit?
Phantom is a self-custodial wallet whose team formed in January 2021. It raised a $109M Series B led by Paradigm (2022) and a $150M Series C at a $3B valuation (2025), and says it has 15M+ users. Past issues include the 2022 'Demonic' extension vulnerability (patched) and a 2025 lawsuit Phantom denies.
What is Phantom's swap fee?
Phantom charges a 0.85% fee on most swaps, including cross-chain swaps, plus network fees and price impact. Swapping USDC, USDT, USDG or PYUSD into the Cash account is free, and some flows such as perps-balance deposits carry no Phantom fee.
How much does it cost to trade perps in Phantom?
Opening, adding margin, flipping or closing a position costs 0.095%: 0.05% to Phantom and 0.045% to Hyperliquid. Hyperliquid also charges 1 USDC on the first deposit and first withdrawal, then 0.07% plus network fees on later ones.
Which blockchains does Phantom support?
Solana, Ethereum, Base, Polygon, BNB Chain, Bitcoin, HyperEVM, Robinhood Chain and Arc. Phantom ended Monad support on August 26, 2026 and Sui support on September 24, 2026. Arbitrum, Optimism, Avalanche, Unichain and Linea are not supported.
Can US users trade perps on Phantom?
No. Phantom says perps are unavailable in the United States, the United Kingdom and regions under comprehensive US sanctions. The wallet and Cash account are available worldwide.
Does Phantom have a referral program?
Yes. Referrers earn 25% of the net trading fees Phantom receives from a referee's eligible trades for three months; the referee gets 10% of their eligible fees back for three months, paid in CASH. Codes must be entered at mobile signup.
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Swap crypto in Phantom (Phantom Help) — checked 2026-10-16
- Trade perps in Phantom (Phantom Help) — checked 2026-10-16
- Understanding perp trading in Phantom (Phantom Help) — checked 2026-10-16
- Supported networks (chains) in Phantom — checked 2026-10-16
- Ending support for Monad in Phantom — checked 2026-10-16
- Ending support for Sui in Phantom — checked 2026-10-16
- Supported platforms and browsers (Phantom Help) — checked 2026-10-16
- Phantom Referral Program guide — checked 2026-10-16
- Feature availability by region (Phantom Help) — checked 2026-10-16
- Trade predictions in Phantom — checked 2026-10-16
- Understanding gasless transactions on Solana in Phantom — checked 2026-10-16
- Understanding gasless EVM transactions in Phantom — checked 2026-10-16
- Trade spot and perps in Phantom Terminal — checked 2026-10-16
- About Phantom — checked 2026-10-16
- Phantom's $109M Series B and launch of iOS App — checked 2026-10-16
- Phantom raises $150M Series C — checked 2026-10-16
- Keeping Phantom safe from the "Demonic" critical vulnerability — checked 2026-10-16
- The Block: Phantom says its systems were uncompromised in $4 million hack — checked 2026-10-16
- Decrypt: Phantom Wallet sued over $500K meme coin theft — checked 2026-10-16