# Phantom fees explained: what a swap really costs

> Phantom takes 0.85% on most swaps, on top of Solana’s network fee. Sending is free apart from the network fee, a few stablecoin swaps carry no Phantom fee, and perps add 0.05% a trade.

Page: https://ravenwallet.pro/blog/phantom-fees
Updated: 2026-10-27

## The swap fee

Phantom's help centre lists a Phantom fee of **0.85% that applies to most swaps**. It is built into the quote you see, next to the network fee, and it comes out of what you receive.

| Swap size | Phantom fee at 0.85% | At 0.4% | At 0% |
| --- | --- | --- | --- |
| $100 | $0.85 | $0.40 | $0.00 |
| $1,000 | $8.50 | $4.00 | $0.00 |
| $10,000 | $85.00 | $40.00 | $0.00 |
| $100,000 | $850.00 | $400.00 | $0.00 |

_0.4% is Raven's swap fee; 0% is what Backpack and Solflare say they add on top of the route. Network fees and price impact are extra everywhere._

For someone who swaps $1,000 a day, that is about $3,100 a year in Phantom fees.

## Which swaps are free

Phantom does not charge its fee on:

- swaps that fund your perps balance,
- swaps of USDC, USDT, USDG or PYUSD into your Phantom Cash account, and swaps from the Cash account into USDC.

Other swaps out of or into the Cash account carry the same 0.85%.

## Gasless swaps

Some Solana swaps are gasless: you can swap without holding SOL, and Phantom takes the network fee out of the coin you are swapping instead of charging it separately. Phantom's help centre says a gasless swap needs to be worth at least $0.30 and cannot use a manual priority fee or an exact output amount. The 0.85% still applies.

## Bridges and cross-chain swaps

Moving a coin to another chain inside Phantom costs the 0.85% Phantom fee plus the bridge provider's own fee, which Phantom puts at typically 0.1% to 0.5%, plus the network fee on each side. Cross-chain swaps may have a $2 minimum.

## Perps

Phantom's perps trade on Hyperliquid. Phantom adds a builder fee of 0.05% on every trade it sends there, on top of Hyperliquid's own trading fees. Reports put Phantom's earnings from that fee above $20 million.

## Sending

Phantom charges nothing to send. You pay only Solana's network fee, a fraction of a cent, plus any priority fee you choose. The same is true in every major wallet.

## What 0.85% adds up to

Swap fees are where wallets make their money, and most users never see them because they are inside the quote. Two habits keep them down:

- **Check the fee line before you sign.** The fee is listed, it is just easy to skip.
- **Swap less often, in bigger amounts**, if you are paying a percentage plus a network fee each time.

If you swap often, the fee matters more than any other number. See [swap fees in Solana wallets and trading apps](/blog/solana-wallet-swap-fees-compared) for what each one charges.

## Questions

### What is Phantom's swap fee?

0.85% on most swaps, as of October 2026.

### Does Phantom charge to send SOL?

No. Sending costs only Solana's network fee.

### Is the Phantom fee on top of slippage?

Yes. Slippage and price impact are separate from the fee: they depend on the coin and the size of the trade, and they apply in every wallet.

### Can I avoid Phantom's fee?

Only on the stablecoin flows above. For other swaps you pay it in Phantom, or you swap somewhere with a lower fee.

## Sources

- [Phantom help: Swap crypto in Phantom](https://help.phantom.com/hc/en-us/articles/5985106844435-Swap-crypto-in-Phantom)
- [Phantom help: Gasless swaps on Solana](https://help.phantom.com/hc/en-us/articles/41191481594643-Use-gasless-swaps-on-Solana-in-Phantom)
- [Phantom help: Phantom Cash fees](https://help.phantom.com/hc/en-us/articles/44800531617939-Phantom-Cash-fees)
- [Phantom help: Bridge crypto in Phantom](https://help.phantom.com/hc/en-us/articles/51384804802195-Bridge-crypto-in-Phantom)
- [Solana Compass: Phantom tops Hyperliquid's builder program with $20.6M in fees](https://solanacompass.com/news/phantom-tops-hyperliquids-builder-program-with-206m-in-fees)