What are priority fees?
Priority fees determine how quickly your transaction is confirmed on the Solana network. When network activity is high, transactions with higher priority fees are processed faster because validators prioritize them.
How priority fees affect your transactions
Priority fees play an important role in determining how quickly your transaction is processed, especially when the Solana network is experiencing high traffic. During congested periods, transactions that include higher priority fees are more likely to be confirmed faster, since validators are incentivized to prioritize them. However, setting a fee that’s too high during low network activity won’t speed things up—it’ll just mean you’re overpaying. On the other hand, if your fee is too low during busy times, your transaction may be delayed while others with higher fees are processed first.
How to choose the right priority fee
To get the most out of priority fees, consider adjusting them based on current network conditions. If activity is high, increasing your fee slightly can help ensure faster confirmation. Avoid extreme increases—they often lead to overpayment without real benefit. Monitor network conditions before adjusting your fee to make the most cost-effective choice.
How to adjust priority fees in Phantom
- Select the Swap icon (it looks like two arrows).
- Select the swap settings icon in the top right.
- Under Priority Fee, turn off Auto.
- Set your own custom fee, then select Confirm.
Custom fee thresholds
Keep in mind these Solana transaction fee limits
- High custom fee: 0.05 SOL
- Low custom fee: 0.0001 SOL
- Maximum allowed fee: 1 SOL
- Minimum allowed fee: 0.00001 SOL
Note: If you enter a fee below the low threshold (0.0001 SOL) or above the high threshold (0.05 SOL), a yellow warning message appears while you type. If the fee is below the minimum (0.00001 SOL) or above the maximum (1 SOL), the transaction won’t proceed, and a red error message appears.