Phoenix Perps is a decentralized perpetual futures exchange on Solana. It lists perpetual markets on traditional assets such as stocks, commodities or FX alongside crypto.
Open interest$28.94M#26 of 91 · 0.2% share
Volume · 24h—not tracked by the source
Fees · 30d$287.19K+1.7% vs prior 30d
OI · 30d change+18.8%Daily average vs prior 30 days
United States, Canada, United Kingdom, Cuba, Iran, North Korea, Syria, Russia, Belarus, Crimea and non-government-controlled Donetsk, Luhansk, Kherson, Zaporizhzhia, other OFAC/UN/EU/UK-sanctioned territories source ↗also citizens of restricted territories regardless of location
Audits
Not verified yet
Incidents
None found in official sources
Points program
Not live source ↗no points program in docs; 'Flight Club' USDC rewards ran Jul 27-Aug 23 (fixed 4-week program)
Referral program
Yes. Benefit for the referred trader: “Referral codes apply a 10% discount on trading fees across perpetual markets for the duration of the $100M volume cap.” source ↗
From Phoenix Perps’s own documentation, terms, API or official posts, checked 08 Oct 2026. Terms change; confirm on the venue before trading. “Not verified yet” means we could not confirm it from an official source.
IS IT GROWING?
Phoenix Perps trend: Stable
0 metric(s) up, 0 down, 2 without a material change. The label counts metric directions; it is not a score and not investment advice.
Rank by open interest: #26 now · #26 30 days ago · #27 90 days ago (among venues reporting that day)
Metric
30 days
90 days
Coverage
Reading
Open interest
+18.8%
+339.5%
100%
30-day and 90-day moves disagree
User fees
+1.7%
+242.9%
100%
30-day and 90-day moves disagree
Trading volume
—
—
—
Not enough daily history yet
Thresholds: open interest ±25%, fees ±30%, volume ±40% over 30 days; the 90-day move must agree at half the threshold. Incentive campaigns can lift activity temporarily.
HISTORY
Activity over time
Open interest · daily
DefiLlama daily open interest · 180 days · 12 Apr 2026 – 08 Oct 2026
$28.94M
Gaps are not joined. The scale starts near the series minimum, not at zero.
User fees · daily
DefiLlama daily user fees, complete UTC days · 180 days · 11 Apr 2026 – 07 Oct 2026
$12.10K
Gaps are not joined. The scale starts near the series minimum, not at zero.
Phoenix Perp is a decentralized perpetual futures market on Solana that is fully on-chain, non-custodial, and crankless.
Phoenix Perps had $28.94M of open interest according to DefiLlama on 08 Oct 2026 · 12:17 UTC, ranking #26 of 91 perp DEXs we track by open interest. That is 0.2% of the combined open interest of the tracked venues.
How much do traders pay in fees on Phoenix Perps?
Traders paid $287.19K in fees over the last 30 days according to DefiLlama, +1.7% compared with the previous 30 days.
Is Phoenix Perps growing?
Our current reading is “Stable”. Average open interest over the last 30 days changed +18.8% versus the prior 30 days. The reading updates daily and requires sufficient history and a minimum base.
Does Phoenix Perps have a token?
We have not verified a tradable Phoenix Perps token. Beware of look-alike tokens using the name.
What are Phoenix Perps’s trading fees?
Taker 0.035% · maker 0.005% at the base tier, according to Phoenix Perps’s fee documentation. Higher-volume tiers and promotions can differ.
What is the maximum leverage on Phoenix Perps?
Up to 40× on some markets, according to Phoenix Perps’s documentation. Most markets allow less.
Does Phoenix Perps have a referral program?
Yes. Benefit for the referred trader: “Referral codes apply a 10% discount on trading fees across perpetual markets for the duration of the $100M volume cap.”.
DefiLlama oi history for listing “phoenix-perp”, fetched 08 Oct 2026 · 12:17 UTC, SHA-256 f468bbc9b2ee99bf…
DefiLlama fees history for listing “phoenix-perp”, fetched 08 Oct 2026 · 12:17 UTC, SHA-256 deb60de6f0f115a6…
Open interest and fees: DefiLlama, captured 08 Oct 2026 · 12:17 UTC. 24h volume: CoinGecko derivatives exchange data (rolling 24 hours, converted from BTC), captured 08 Oct 2026 · 12:16 UTC. Token prices and 30-day price change: CoinGecko, at the time shown on each venue page; a parent-project or chain token is labelled and is not evidence of a claim on exchange revenue. Changes compare the last 30 days with the previous 30 days (OI as a daily average, fees as a total) and need at least 95% daily coverage. A trend label needs the 30-day move to pass a threshold (OI ±25%, fees ±30%) on a minimum base (OI ≥ $5M, fees ≥ $100K per 30 days); with 90 days of history both horizons must agree. Venue-reported volume is not audited; ⚑ marks volume above 25× open interest. “—” means unavailable, never zero. Full method ↗
