Phantom
Key Metrics
Fees (Annualized)$123.47m
Fees 30d$10.12m
Fees 7d$2.2m
Fees 24h$230,753
Cumulative Fees$510.5m
Revenue (Annualized)$123.47m
Revenue 30d$10.12m
Revenue 7d$2.2m
Revenue 24h$230,753
Cumulative Revenue$510.5m
Perp Volume 30d$3.816b
Perp Volume 7d$763.77m
Perp Volume 24h$37.63m
Cumulative Perp Volume$23.667b
Total Raised$268m
Jul 14, 2021$9mRound: Series AInvestors: AllianceDAO, a16z, Garry Tan, Jump Capital, Robert Leshner, Variant Fund
Jan 31, 2022$109mRound: Series BInvestors: Paradigm, a16z, Variant Fund, Solana Ventures, Jump CryptoSource: https://twitter.com/phantom/status/1488172975744454656?s=20&t=AL2Htl3blX-PudEM_cSAgg
Jan 16, 2025$150mRound: Series CInvestors: Sequoia Capital, Paradigm, a16z crypto, Variant FundSource: https://x.com/phantom/status/1880018917068009527
Methodology
Fees:
Phantom Wallet: All fees paid by users for swapping, bridging in Phantom wallet.View code on GitHubPhantom Perps: trading fees paid by users for perps in Phantom wallet.View code on GitHub
Revenue:
Phantom Wallet: Fees collected by Phantom.View code on GitHubPhantom Perps: Builder Code Fees collected by Phantom from Hyperliquid Perps as Frontend Fees.View code on GitHub
Perp Volume: Notional volume of all trades in the protocol, includes leverage
Income Statement for Phantom
| Q4 2025* | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | |
|---|---|---|---|---|---|---|---|---|
| Fees | $33.04m | $63.12m | $51.33m | $173.85m | $135.08m | $35.13m | $18.95m | $76 |
| Revenue | $33.04m | $63.12m | $51.33m | $173.85m | $135.08m | $35.13m | $18.95m | $76 |
| Earnings | $33.04m | $63.12m | $51.33m | $173.85m | $135.08m | $35.13m | $18.95m | $76 |