How to swap tokens in Phantom (and what it costs)

Quick steps

1. Open the swap screen. In the extension, click swap on the home tab; on mobile, use a token's buy or sell button or the trade screen.
2. Choose the tokens. Set the token you pay and the token you receive, checking the contract address of any unfamiliar token.
3. Enter the amount. Type the amount and keep some of the network's native token for fees.
4. Check settings. Open the settings icon to review slippage, priority fee and provider, or leave them on auto.
5. Review the quote. Check the amount you receive, the Phantom fee, network fee and price impact.
6. Confirm and wait. Confirm the swap and wait for it to complete; do not resubmit a pending swap.

Phantom's built-in swap lets you trade one token for another without leaving the wallet. It finds a route through decentralised exchanges and, for cross-chain swaps, bridge providers. It is convenient, but not free. This guide explains the steps, the fees and the settings that protect you from bad fills, as of October 2026, based on Phantom's help centre.

How to swap

Browser extension: on the home tab, click the swap button. Set the token you pay and the token you receive, enter the amount, review the quote, fees and price impact, then confirm.

Mobile app: you can swap from a token's page (buy or sell buttons) or from the trade screen, reached through the plus button. Set what you pay and what you receive, enter the amount, review and confirm. The new tokens appear in your portfolio once the transaction confirms.

Before you swap, keep a little of the network's native token for fees: SOL on Solana, ETH on Ethereum or Base (Base needs ETH on Base, not on Ethereum), POL on Polygon, BNB on BNB Chain. Some swaps are gasless (see below).

The 0.85% Phantom fee

Phantom charges a 0.85% fee on most swaps (Phantom help centre, 2026). The fee is included in the quote and shown in the fee details before you confirm. Phantom's help centre lists two exceptions: deposits to your perps balance, and swaps from USDC, USDT, USDG or PYUSD into your Phantom Cash account. A swap's total cost is usually:

On a $1,000 swap, 0.85% is $8.50. Use our Phantom swap fee calculator to see the total for your trade size. You can avoid the Phantom fee by connecting Phantom directly to a decentralised exchange's website, but those sites may charge their own fees, and you must be certain you are on the real site; fake swap sites are a common drainer trick. See Phantom fees for all costs.

Slippage, priority fees and tips

Swap settings are behind the settings icon in the upper right of the swap screen.

• Slippage is how far the price may move against you before the swap is cancelled. Auto aims for the lowest value likely to succeed. You can set a custom value from 0.1% to 30%. A low setting can make the swap fail; a high setting lets it fill at a worse price. Phantom warns that auto slippage can still be high for volatile or illiquid tokens.
• Priority fee (Solana) helps your swap land when the network is busy. Auto adjusts to conditions; custom values range from 0.00001 SOL to 1 SOL.
• Tip (Solana) is an optional extra payment for faster inclusion, with the same range.
• Provider lets you choose which routing or bridge provider to use, since prices differ.

Price impact is separate from slippage. It shows how much your own trade moves the price: a $100 swap with 5% price impact returns about $95 of tokens before fees. Raising slippage does not reduce price impact, and Phantom shows a warning when it is high. Split large trades or choose more liquid tokens.

Gasless swaps

Some Solana and EVM swaps are gasless: you do not need SOL or ETH because Phantom takes the network fee from a token you are using or, in some cases, covers it. On EVM networks this needs an optional smart account upgrade (EIP-7702) that Phantom asks you to approve, and gasless sends are not supported there (Phantom help centre, 2026). On Solana, Phantom says the swap must be worth at least $0.30, the token you receive must be verified, and gasless does not work with a manual priority fee or tip or with exact-output swaps. Gasless transactions include a flat submission fee deducted from your token (Phantom help centre, 2026). We could not confirm the size of that flat fee from Phantom's own pages.

Cross-chain swaps

If you pick tokens on two different networks, for example SOL to ETH on Base, Phantom runs a cross-chain swap through a bridge provider. These take longer, include a bridge fee and may need at least $2. Details in our Phantom bridge guide.

Swap safely

• Check the token. Scam tokens copy names and logos. Confirm the contract address from the project's official channel, and treat unknown tokens sent to you as bait. See memecoin safety.
• A price is not an exit. Phantom warns that a displayed price does not guarantee you can sell at that value, especially for illiquid tokens or ones the creator can freeze.
• Do not resubmit. If a swap looks stuck, check its status in your activity history and on a block explorer first. Phantom's advice is not to submit the swap again.
• Keep SOL for fees. Swapping all your SOL away leaves nothing to pay future fees.

Common swap errors

• No quote: low liquidity or an amount below the minimum. Wait and request a new quote.
• Simulation failed: try a smaller amount or adjust slippage.
• Error 0x1771: on Solana this usually means slippage was exceeded or liquidity is too thin. Retry with a smaller amount or check the token.
• Insufficient funds for fees: add the native token of that network. See not enough SOL.

More fixes in Phantom transaction failed.

Frequently asked questions