Phantom Launches Perpetual Futures Trading in Mobile App

Phantom, a well-known crypto wallet recognized for its seamless integrations with Solana and Ethereum, has introduced perpetual futures trading directly within its mobile application. This initiative, unveiled on July 8, 2025, is designed to bridge the gap between professional traders and retail users by simplifying the derivatives trading process. Unlike traditional platforms that often overwhelm users with complex order books and advanced charting tools, Phantom's implementation prioritizes user-friendly design, enabling users to open leveraged positions with just a few taps. This feature, powered by Hyperliquid’s infrastructure, offers over 100 markets, ranging from established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to more volatile meme coins such as Dogecoin (DOGE) and Pepe (PEPE).

Phantom's approach to perpetual futures trading marks a significant advancement in making derivatives more accessible to retail traders. Derivatives account for nearly 75% of all crypto trading volume, but most platforms are designed with advanced tools that can be intimidating for casual users. Phantom's integration simplifies the process to three steps: funding a position with SOL (which is automatically converted to USDC), selecting a market, and setting leverage. This streamlined process eliminates the need for bridging assets or separate exchange accounts, providing a wallet-native experience that is more intuitive for users.

However, the accessibility of Phantom's perpetual futures trading also raises concerns about the risks involved. Derivatives trading, particularly with leverage, can lead to liquidation, funding fees, and amplified losses. These risks are well-known to professional traders but may not be fully understood by retail users. Phantom has issued an explicit warning that the feature is not available in the U.K., where the Financial Conduct Authority has taken a hardline stance on crypto derivatives for retail traders since early 2021. Other jurisdictions with strict derivatives regulations may follow suit, though Phantom has yet to release a full list of restricted regions.

The launch of Phantom Perps represents a litmus test for crypto's retail adoption. By making derivatives trading more accessible, Phantom could attract a broader user base, potentially increasing the overall participation in the crypto market. However, it also introduces the inherent risks of derivatives to a less experienced audience, which could lead to significant financial losses if not properly managed. The success of Phantom's mobile-first approach will depend on how well it balances accessibility with risk management, ensuring that users are adequately informed about the potential dangers of leveraged trading.