Phantom, a widely used digital asset wallet, has rolled out a new feature called Phantom Perps. This tool lets users trade perpetual futures right from their wallet.
Perpetual futures are contracts that allow traders to bet on an asset’s price without owning it. Usually, trading these contracts means dealing with tricky platforms. Phantom changes that by bringing it all into one easy spot.
The launch kicked off on July 8, 2025. Phantom plans to widen access over the next few weeks.
What Phantom Perps Offers
Phantom Perps lets users trade on over 100 markets. You can pick from big names like Bitcoin (BTC), Solana (SOL), and Ethereum (ETH). It also includes fun ones like Pepe (PEPE) and Dogecoin (DOGE). Traders can boost their positions with up to 40x leverage. That means with $1,000, you could control $40,000 in trades. But if the market turns, losses can pile up fast too.
This feature runs on Hyperliquid, a decentralized exchange with its own blockchain called HyperEVM. Hyperliquid makes trading quick and smooth. It cuts down on delays and shows every trade openly on-chain. That openness matters a lot in decentralized finance.
How to Use It
Getting started is simple. Users fund their Phantom wallet with Solana (SOL). The system then swaps it to USDC for trading on Hyperliquid.
In the wallet’s home tab, there’s a new perps section. From there, you can see your trades, open new ones, or watch the market. It’s built to be clear and easy to use.
Managing Risks
Leveraged trading can be risky. Phantom Perps helps with tools like stop-loss and take-profit orders. A stop-loss can close your trade if prices drop too far, saving you from bigger losses. Users should only trade what they’re okay losing. Read tips on trading risks.
Where It’s Available
Not everyone can use Phantom Perps yet. It’s not offered in the UK, for example. But it’s live for users in the European Union. Phantom hopes to bring it to more places later, depending on local rules.
