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Phantom vs Backpack Exchange
Backpack Exchange and Phantom compared on the facts each tool states on its own site. Backpack Exchange: Exchange combining US stock brokerage, crypto spot and perps, lending and a self-custody wallet under one account. Phantom: Self-custodial crypto wallet and trading app covering tokens, prediction markets, perps, a Updated 12 Oct 2026.
Side by side
| Feature | Phantom | Backpack Exchange |
|---|---|---|
| FeesDiffers | In-wallet swap fee of 0.85% on select pairs plus the network fee; Ledger supported, Trezor and Tangem not supported● | Wallet states no fee on swaps and bridges; network fees still apply● |
| Custody | Your wallet signs● | Your wallet signs |
| Audited | Yes● | — |
| Hardware wallet support | Yes● | Yes● |
| Fee per trade | 0.85%● | — |
Which to pick
- Pick Backpack if swap cost matters: it states no fee on swaps and bridges, only network fees.
- Pick Phantom if you want Ledger support, which it states in detail (Trezor and Tangem are not supported). The in-wallet swap fee is 0.85% on select pairs.
- Same on both: non-custodial with hardware wallet support.
Compiled from each tool's own website and docs. Values link to their sources in the table above. Anything a site does not state is left out rather than guessed.
What each tool is
- Backpack Exchange: Exchange combining US stock brokerage, crypto spot and perps, lending and a self-custody wallet under one account.
- Phantom: Self-custodial crypto wallet and trading app covering tokens, prediction markets, perps, a desktop Terminal and a Visa card.
Where they differ
- Fees: Backpack Exchange is Wallet states no fee on swaps and bridges; network fees still apply. Phantom is In-wallet swap fee of 0.85% on select pairs plus the network fee; Ledger supported, Trezor and Tangem not supported.
Stated for only one tool
- Audit report: Phantom is https://github.com/phantom/audit-reports. Backpack Exchange's own site does not state this.
- Audited: Phantom is yes. Backpack Exchange's own site does not state this.
- Fee per trade: Phantom is 0.85%. Backpack Exchange's own site does not state this.
- Simulation before send: Phantom is yes. Backpack Exchange's own site does not state this.
Questions people ask
What is the difference between Backpack Exchange and Phantom?
Fees: Backpack Exchange is Wallet states no fee on swaps and bridges; network fees still apply. Phantom is In-wallet swap fee of 0.85% on select pairs plus the network fee; Ledger supported, Trezor and Tangem not supported.