Every transaction on a blockchain requires a network fee, sometimes called gas. This fee goes to the validators who process and confirm your transaction. It does not go to Phantom.
You pay network fees in the network's native token, such as SOL on Solana or ETH on Ethereum. You cannot pay fees in USDC, stablecoins, or other assets on the same network. If you do not have enough of the native token in your wallet, your transaction will not go through. One exception applies: see About gasless swaps on Solana in Phantom.
A few things to keep in mind:
- You always pay a network fee, even if your transaction fails.
- Network fees are non-refundable, including fees for failed transactions.
- Fees can fluctuate significantly on networks like Ethereum and Base depending on congestion and demand.
- Bridging tokens across networks requires fees on both the source and destination networks.
For recommended amounts to keep on hand by network, see How much native token do I need for network fees?
Why network fees exist
Network fees help secure the network and allocate resources. When you send a transaction or interact with a smart contract, you are asking the network to do computational work, such as storing data or updating balances. The fee compensates the validators who process your request.
Solana
Solana uses a fixed-fee model. Most transactions cost less than 0.000005 SOL. Phantom automatically sets the appropriate fee based on current network conditions. There are no manual speed options for Solana.
On mobile, gasless swaps on Solana are an exception: the fee is deducted from the token you are swapping into rather than from your SOL balance. See About gasless swaps on Solana in Phantom for details.
Sui
Sui uses dynamic fees based on network load and transaction complexity. Fees are paid in SUI and estimated automatically by Phantom. There are no manual speed options for Sui.
Bitcoin
Bitcoin fees are based on transaction size, measured in vBytes, and current network congestion. You can choose between Fast, Average, or Slow when sending a transaction, depending on how quickly you need it confirmed.
Ethereum and EVM-compatible networks
Phantom supports several EVM-compatible networks: Ethereum, Base, Polygon, Monad, and HyperEVM. These networks use a gas-based fee model made up of the following components.
Gas limit
The gas limit is the maximum number of gas units you are willing to spend on a transaction. Simple transactions, like sending ETH, use around 21,000 gas units. More complex operations, like approving a token, may use 45,000 or more. Phantom automatically sets an appropriate gas limit based on the transaction type.
Base fee
The base fee is the minimum amount per gas unit required to include your transaction in the next block. It rises when the network is busy and falls when demand is low. On Ethereum and many EVM networks, the base fee is burned, meaning it is removed from circulation.
Priority fee
The priority fee, sometimes called a tip, is an optional amount added to incentivize validators to process your transaction faster. It does not affect whether your transaction succeeds, but it can speed it up.
Max fee
The max fee is the total amount you are willing to pay, calculated as follows: (base fee + priority fee) multiplied by gas units used. If your transaction uses less gas than expected, the difference is refunded automatically.
Choosing transaction speed options in Phantom
On Ethereum, Base, Polygon, Bitcoin, and HyperEVM, you can choose between three speed options when sending a transaction: Fast, Average, or Slow. Faster options typically cost more because your transaction includes a higher fee to be prioritized by the network. On uncongested networks, the difference in cost between Slow and Fast may be minimal.
You can adjust your fee preference by selecting Network fee on the transaction screen.
On Solana, Sui, and Monad, Phantom automatically sets the appropriate fee based on current network conditions. There are no manual options for these networks.
See also