Trade tokens and perps in Phantom Terminal

Updated May 19, 2026 07:11

Use Phantom Terminal to trade tokens on the Solana network and Hyperliquid perps from your desktop browser. Phantom Terminal is available at trade.phantom.com and provides charts, real-time market data, and fast execution.

Trade instantly with auto-approvals and no transaction pop-ups.

Your positions sync to the Phantom mobile app and browser extension when you sign in with the same account.

Video tutorial

Connect your wallet

Open trade.phantom.com in your browser, or click the monitor icon in the upper right of the Phantom browser extension.
Click Login and choose a connection option.

Option	Trading experience	Note
Continue with Phantom → Trading Account	Automatic approval of all trades	Creates a new account if you connect with a recovery-phrase wallet. Uses your existing account if you connect with a social login wallet (Apple/Google). Not available when connecting on mobile through Phantom's in-app browser.
Continue with Phantom → Existing Account	Automatic approval of all trades	Uses the account you have currently selected in the browser extension. Enables automatic approval by the use of the Auto-Confirm feature. If you want to confirm each trade manually, turn off Auto-Confirm in Settings. Not available when connecting on mobile through Phantom's in-app browser.
Continue with Google	Automatic approval of all trades	Not available when connecting on mobile through Phantom's in-app browser.
Continue with Apple	Automatic approval of all trades	-

Disconnect your wallet

To disconnect, click your profile icon in the upper right, then select Disconnect.

To fully revoke permissions, go to Settings → Connected Apps → trade.phantom.com → Disconnect in your Phantom mobile app or browser extension.

Manage your funds

Phantom Terminal has two accounts for trading: a token balance for trading tokens on Solana and a perps balance for trading Hyperliquid perps. Click the profile icon to access your balances.

Each Phantom account has its own Solana and Ethereum addresses. If you switch accounts in the extension, you may see a different perps balance, or no balance.

Fund your token balance

Click your profile icon → Add Funds.
Choose Deposit (copy address or scan QR) or Buy (purchase SOL with card).

Tip: Always use the current deposit address shown in your profile.

Withdraw from your token balance

Click your profile icon → Withdraw.
Enter the recipient's Solana address and amount.
Click Withdraw.

Fund your perps balance

To trade perps, you can use the existing SOL balance in your account, or transfer SOL to the perps balance for faster trades. Your Cash account is not accessible in Phantom Terminal.

Click your profile icon → Tokens ↔ Perps.
Make sure the direction is set to From Tokens To Perps.
Enter the amount in SOL and click Transfer.

SOL is converted to USDC in your Hyperliquid account upon transfer, or even if you use SOL to open a position with.

Withdraw from your perps balance

Click your profile icon → Tokens ↔ Perps.
Switch the direction to From Perps To Tokens.
Enter the amount in USDC and click Transfer.

Withdrawals arrive as SOL in your Phantom wallet (USDC is swapped to SOL during the bridge back).

Find a market

Click the search field at the top or press / and browse or search for tokens and perps to trade, and wallets to track

Trade tokens

Phantom Terminal provides TradingView charts, live order books, and real-time market data for tokens on Solana.

Quick Buy

Enter a SOL amount next to the lightning icon at the top of the page, then click the lightning icon next to any token to buy instantly.

Trade on token pages

Search for a token.
Enter the amount in SOL or use preset buttons (1️⃣, 2️⃣, 3️⃣).
Click Buy or Sell.

Your positions appear in the Positions section and your portfolio.

Discover new tokens

Go to Discover → Launches to find newly launched tokens:

New: Newest token pairs.
Migrating: Close to listing on DEXs like Raydium.
Migrated: Already listed on a DEX.

Go to Discover → Trending for tokens trending among Phantom users.

Watch tokens and perps

Open a token or perp, then click Follow. The asset will appear in the Follows tab on the left.

View token information

Each token shows metrics including top holder %, dev holdings %, LP burned %, and flags for mutable, mintable, or freezable tokens.

Trade perps

Phantom Terminal integrates with Hyperliquid for perp trading. Phantom Terminal supports market orders only. To place limit orders, use the Phantom mobile app. For more details about perp trading on mobile, see Trade perps in Phantom.

Perps aren't available in the US or UK due to regulatory restrictions. For more information, see Feature availability by region.

Place an order

To place a market order, follow these steps:

Select a market and choose Long or Short.
Enter the amount and set leverage.
Optionally, set stop-loss or take-profit under Auto Close.
Click Long or Short.

Minimum order size is 10.25 USDC.

Manage positions

Set take-profit (TP)/stop-loss (SL): In Positions, click the pencil icon in the TP/SL column.
Add to position: Click position → Add tab → enter amount.
Close: Click Close next to the position, or use the Close tab for a partial close.
Reverse: Click the position → Reverse tab → Reverse.

View history

Positions: Shows P&L, liquidation levels, TP/SL settings.
Trades: Record of executed trades.
Funding: Funding payments for open positions.
Order History: All open, filled, canceled, and rejected orders.

Perps in the extension

Perps appear in the Phantom browser extension. Click to open the market in Phantom Terminal.

Track a wallet

Track other wallets to monitor their trades in real time. View their activity, see their buys and sells on charts, and receive notifications.

To track a wallet, take these steps:

Go to Discover → Track.
Click Track → + in the Tracking column.
Enter wallet details and click Track Wallet.

Tracked trades appear in the Monitor section and as indicators on charts.

Portfolio

The Portfolio page shows your trading activity across tokens and perps. Track P&L, close positions, review history, and identify top gainers and losers.

Trading presets

Double-click preset buttons (1️⃣, 2️⃣, 3️⃣) to configure slippage, priority fees, MEV protection, and buy/sell amounts.

Auto slippage (20%): Recommended for most trades.
Priority fee: Speeds up transactions by paying above base gas cost.
MEV protection: Prevents transaction manipulation (may slow execution).

Settings

Click Settings (gear icon) in the lower right to access the following settings:

Auto-Confirm: Execute trades with or without manual approval of each transaction. Applies when you connect to Phantom Terminal using the Login → Continue with Phantom → Existing Account option.
Tracker: To mute notifications when a wallet you track executes a trade, toggle Show notifications and Play sound.
Privacy: Choose which cookies you consent to.

FAQ

What assets can I trade in Phantom Terminal?

You can trade tokens on Solana and Hyperliquid perps.

Is Phantom Terminal available on mobile?

Yes. In the Phantom mobile app, go to the Explore tab, search for Phantom Terminal, and tap Open to connect.

Do I need to fund a separate account?

You need to fund a separate account only in one case: if your Phantom wallet was created using a Secret Recovery Phrase, and you connected to Phantom Terminal using the Login → Continue with Phantom → Trading Account option. Connecting this way creates a new account in your wallet. This account shows up in your account list as well.

For more information, see Why am I seeing a new account in my wallet after connecting to Phantom Terminal?

Are my funds custodial?

No. All trades are onchain, and you control your wallet.