This article covers common issues you may run into when trading perpetual futures (perps) in Phantom, and how to fix them. The issues described here apply to the Phantom mobile app.
A limit order won’t place
If you see an error like “Limit order placement failed. Insufficient margin to place order” (or another message that starts with “Limit order placement failed”), it usually means you don’t have enough available margin to reserve for the order.
This can happen even if your perps balance looks high, because some funds may already be unavailable:
- Margin tied up in an open position.
- Funds reserved for other open orders.
- Funds still in transit during a deposit or conversion.
What you can do
- Add more funds to your perps balance, then place the order again.
- Reduce the order size or leverage and try again.
- Cancel any other open limit orders to free up reserved margin.
My deposit didn’t reach my perps balance
This can happen if you close Phantom while the deposit is still starting. In some cases, you won’t see a failed deposit entry in Recent Activity.
What you can do
- Tap Perps.
- Tap Having issues with a deposit or withdrawal? at the bottom.
- Tap Transfer all to Perps to complete the deposit.
My deposit failed before it started
If the funds are still in your Solana wallet and were never bridged, the deposit may have failed due to a network error (for example, a “blockhash not found” error).
What you can do
Look for a failed deposit message at the top of the screen, then retry the deposit.
My withdrawal didn’t reach my wallet
If the funds left your perps balance but haven’t appeared in your SOL balance, the transfer may have failed due to app closure, connectivity issues, or a temporary error.
What you can do
- Tap Perps.
- Tap Having issues with a deposit or withdrawal? at the bottom.
- Tap Transfer all to Perps to move funds back into your perps balance, then tap Withdraw again.
My withdrawal is taking longer than expected
Withdrawals usually complete within 4 to 10 minutes. In rare cases, the final bridge step can take longer.
What you can do
Wait up to 10 minutes. If the funds haven't arrived, follow these steps:
- Go to hypurrscan.io.
- Enter your Ethereum address or the transaction ID to check the status.
- If the transaction is marked successful but your funds still haven't arrived, then follow these steps:
- Tap Perps.
- Tap aving issues with a deposit or withdrawal? at the bottom.
- Tap Transfer all to Perps to refresh your balances.
I see a small leftover balance after a deposit or withdrawal
A small balance, sometimes called dust, may remain in your Hyperliquid spot account after a deposit or withdrawal. This can happen if the spot swap leaves a small remainder.
What you can do
- Tap Perps.
- Tap Having issues with a deposit or withdrawal? at the bottom.
- Tap Transfer all to Perps to move the remaining funds.
I closed a position and received less money than expected
The PnL shown for an open position doesn’t include trading fees. When you close a position, your realized PnL includes the fees paid to open and close the trade, which can make the final amount lower than what you saw before closing.
This difference is more noticeable when using high leverage or closing a position after a small price move.
What you can do
- Keep in mind that fees apply on both opening and closing a position.
- If you want a closer estimate while a position is open, mentally factor in trading fees for both sides of the trade.