Go long or short on SOL, BTC, ETH, and more. Leveraged trading on Solana, from the same wallet where you hold everything else. Powered by Phoenix Trade-on-Solana.
Trading with leverage on Solana has usually meant stepping outside your wallet, onto a separate exchange or app. Either way, your perps activity lived somewhere separate from the rest of your portfolio.
Solflare Perps brings perpetual futures trading directly to your Solflare wallet. Trade perps through an order book inside the wallet where the rest of your portfolio already lives.
Perps trading in your wallet
Solflare Perps is the Solflare interface to Phoenix Trade, the Solana-native perpetuals orderbook. Through it, you transact directly with the Phoenix protocol from your self-custodial Solflare wallet: opening and managing every order yourself.
It puts leveraged trading directly inside the wallet where your assets already live.
Your USDC collateral stays on Solana for the life of the position. Settlement on Phoenix is on Solana. When you close, funds return to your Perps balance. Withdrawing to your wallet is a separate step, whenever you're ready.
How it’s different
Phoenix runs an orderbook venue. Buy and sell orders are matched against each other from real order flow (the same market structure traders are used to from centralized exchanges). Pricing comes from order flow, not a single liquidity pool with oracle pricing.
What that means in practice: you see a mark price, an estimated execution, and a liquidation price before you sign. The order preview shows every cost before you commit: position size, execution price, liquidation price, and fee.
How it’s done in your wallet
Open a position from your existing portfolio USDC. Add collateral, reduce, or close from the position screen. Your position history (opened, closed, and liquidated) lives in the same wallet context, with visual PnL summaries on closed positions.
Open positions on Phoenix appear in your Solflare portfolio alongside your crypto, xStocks, and other assets. You manage everything from one place — no separate exchange accounts or second logins.
On mobile, the full flow is available natively. On web and extension, an expanded trading surface gives you a more terminal-like interface for deeper position management.
What You Can Do at Launch
- Go long or short on SOL, BTC, ETH, and additional markets that clear Phoenix’s liquidity and uptime requirements
- Set market orders with optional Take Profit and Stop Loss — set at opening or anytime from the position screen
- Add or remove collateral on open positions, or close fully or partially
- Isolated margin — each position uses only its own collateral; a liquidation on one position doesn’t affect the rest of your wallet
- View position history covering opened, closed, and liquidated positions
- View account-level PnL: Beyond individual position history, a full account-level PnL view tracks your performance over time across all opened, closed, and liquidated positions.
- One account, two surfaces: Your Solflare account and your direct Phoenix account are the same. Isolated positions opened on either surface are visible and manageable from both. So if you already trade on Phoenix directly, you can manage those existing positions from Solflare mobile without starting over.
Fees and Costs
Fees for trading perps through Solflare go up to 0.085%, charged on both entry and exit. The order preview shows the full breakdown before you sign.
Network fees and account rent are currently sponsored, so you don’t need SOL to open, modify, or close a position
Know Before You Trade
Perpetuals are a leveraged product. Using leverage means a smaller price move can result in a larger loss, up to the full collateral you assigned to the position.
Liquidation: If the position’s losses bring its collateral down to the level Phoenix requires to keep it open, the position closes automatically and that collateral is used to cover the loss, with a small remainder sometimes returned. The liquidation price is shown in the order preview before you sign, and in the position view while it’s open.
Isolated margin: your position uses only its own collateral. Other assets in your wallet are not at risk from a single position liquidation.
Funding rate: a periodic payment between longs and shorts that keeps the perp price aligned with the spot price. Visible on the single perp page alongside a countdown to the next update.
*Perpetual futures are high-risk, leveraged products. You can lose everything you commit. Not suitable for all users, not available in all regions.
Solflare provides the software interface only: your positions are opened and held on the Phoenix protocol, you transact with the protocol directly and no compensation scheme covers your funds. Review the Material Risk Disclosures of Phoenix to make sure you understand the risks and commit only funds you can afford to lose.
A perp gives you leveraged exposure to the price of an asset (a cryptocurrency, a stock, an ETF or a commodity) without owning it. You never own the underlying asset and you have no rights against the company or issuer it references. The perps feature is not available in the United States or the United Kingdom and is blocked entirely in jurisdictions subject to comprehensive sanctions. Solflare's Terms of Service apply.
Get Started
Open the Solflare app, find Perps in your portfolio, and explore available markets. The full order preview is shown before any position is opened – review it before you sign.
FAQs
Solflare Perps is the interface Solflare provides to Phoenix Trade, the Solana-native perpetuals order book. Through it, you trade directly with the Phoenix protocol from your self-custodial Solflare wallet, opening, signing, and broadcasting every order yourself.
Phoenix runs an order book, matching real buy and sell orders the way centralized exchanges do, rather than pricing trades against a single liquidity pool. And because it’s built into Solflare, your positions sit alongside the rest of your portfolio instead of on a separate platform.
The fee for trading perps through Solflare is up to 0.085%, charged on both entry and exit. The full breakdown is shown in the order preview before you sign.
No. Network fees and account rent are currently sponsored, so you can open, modify, and close positions using only USDC.
Your USDC collateral stays on Solana for the life of the position, held by Phoenix’s onchain programs. You sign every transaction yourself.
Funds return to your Perps balance. Withdrawing to your wallet is a separate step, whenever you’re ready.
Each position uses isolated margin, so a liquidation on one position doesn’t draw on your other open positions or wallet assets. Perpetual futures are a high-risk, leveraged product; only trade with funds you can afford to lose.
No. Your Solflare account and your Phoenix account are the same. Positions opened on either surface are visible and manageable from both.
Supported regions only. US and UK retail users and sanctioned jurisdictions are not eligible. If you’re in a restricted region, you won’t be able to turn on Perps in the app. There’s no workaround, availability is tied to where you’re located.
Our Guide to Perpetual Futures covers the mechanics, terms, and risks in depth if you’re new to trading them.
