Phantom Introduces Hyperliquid-Powered Perp Trading On Mobile App

On July 9, crypto wallet Phantom introduced its latest feature: Phantom Perps, a perpetual trading product integrated with Hyperliquid. This new functionality allows users to trade over 100 markets with up to 40x leverage directly within the Phantom wallet app.

According to Phantom’s official blog post, the goal is to simplify the perpetual trading experience for all users, especially beginners. “Most perps platforms today are designed for pros with complex trading features, which can be hard to navigate for beginners,” the team noted. “But with Phantom’s intuitive, mobile-first design, you can easily open, close, and manage positions directly within your wallet.”

The team is beginning to roll out access to Phantom Perps to selected users starting today, with broader availability planned in the coming weeks.

At launch, Phantom Perps supports only SOL. Once users fund their perp balance using SOL, it is automatically converted to USDC on Hyperliquid to serve as trading collateral. The minimum deposit required is 20 USDC.

How It Works: SOL to USDC via Unit

To streamline this cross-chain funding process, Phantom leverages Unit (@hyperunit), a decentralized asset tokenization layer on Hyperliquid. Here’s how Phantom executes the process in just one click:

1. When a user initiates a deposit, they sign a standard Solana transaction to send SOL through Unit. This is the only on-chain interaction required on the Solana side.

2. Once the SOL reaches Hyperliquid, Phantom’s agent wallet automatically converts it to USDC via the spot orderbook. The conversion is executed without requiring an additional user signature, and slippage along with the expected output is estimated in advance using Hyperliquid’s public APIs.

3. The final step involves transferring the USDC from the user’s spot balance to their perpetual trading account using an EIP-712 signature, which Phantom can pre-generate via its API and the user’s wallet.

This seamless integration enables users to fund, convert, and begin trading directly from their Phantom wallet with just one click.