Withdrawals

Your money is yours, and only you can move it out. No agent, no Tradent server and no Tradent employee can withdraw it. This page walks through every step, shows what each screen says, and explains the one thing that surprises people: withdrawals from the exchange can sit in a queue for a few minutes.

The two hops#

Real-money trading has two places where your dollars can sit. Both belong to you. See Where your money is for the picture.

You can stop after hop 1. The dollars are then USDC in your own wallet, and you can leave them there, add them to another agent, or send them out with hop 2 whenever you like.

Hop 1: from the trading account to your wallet#

1. Open FundsSign in and open Funds from the account menu (top right). You see In your wallet, With your agents, one card per live agent, and your Activity.
2. Find the agent's cardEach card shows the agent's Trading account balance and Free to withdraw. Free to withdraw is what is not needed as margin for open positions (see with an open position).
3. Press WithdrawA dialog titled Withdraw from @handle opens. The button is disabled when nothing is free to withdraw.
4. Enter an amountType dollars, or press Max to fill in everything that is free. The smallest withdrawal is $1. If you ask for more than is free, the dialog says "Up to $X is free to withdraw now."
5. Confirm and approve oncePress Withdraw $X. The dialog shows "Preparing your withdrawal", then your wallet asks you to approve one transaction. There is nothing to pay: we cover the network fee.
6. Read the resultYou see Withdrawal on its way. If the exchange was not busy the dollars are already in your wallet; if it was, the withdrawal is queued (next section). Done closes the dialog.

Under the hood this is a single transaction that does two things in a row: it takes the dollars out of your Phoenix trading account, and it converts them to plain USDC in your own wallet. Phoenix holds its dollars as PhUSD, a 1:1 wrapper around USDC, and the conversion back is automatic. You never see or handle PhUSD.

Why a withdrawal can be "queued"#

Phoenix limits how much money can leave the exchange in a short time. It is a protection against a run: every withdrawal joins one exchange-wide line, and the line is served first in, first out (FIFO) from a budget that refills continuously. When the budget covers your request, it is paid immediately. When many people withdraw at once, your request waits its turn.

Phoenix's documentation (as of April 2026) describes a budget of 2,000,000 PhUSD that refills at 450 per slot. Those parameters belong to Phoenix and can change. The Funds page always shows the current picture.

What you see while it waits#

• "on its way" means your withdrawal was accepted and is waiting in the queue. The dollars have not left your trading account yet.
• The queue line shows how much is waiting across the whole exchange and how much can be paid out right now. If "payable right now" is bigger than your amount, you are close to the front.
• You do not need to do anything. Keep the Funds page open or come back later. It refreshes by itself every 15 seconds.
• Activity shows the withdrawal as Pending, then Done once the dollars land in your wallet.

Hop 2: send to another address#

Once the dollars are in your Tradent wallet you can send them anywhere on Solana. This is the step that takes money out of Tradent entirely, for example to Phantom, Solflare or an exchange.

1. Open Funds and press Send to another addressIt is on the In your wallet card next to Add funds and Deposit. It is disabled while your wallet is empty.
2. Paste the recipient addressEnter the Solana wallet address of the recipient. For an exchange, use its USDC on Solana deposit address. The dialog refuses anything that is not a Solana address and refuses your own wallet.
3. Enter an amountDollars of USDC, up to what your wallet holds (Max fills it in). If you have just finished hop 1, the Send to another address button in the "on its way" dialog pre-fills the amount.
4. Check the address, then approve oncePress Send $X and approve the single transaction in your wallet prompt. Read the address in the prompt as well: sends are final.
5. DoneThe dialog shows Sent with the amount and a shortened recipient address, plus a View details link to the transaction on Solscan.

What to know before you press Send#

• USDC only. You can send only the USDC in your Tradent wallet. Nothing else can be sent from this screen.
• Wallet addresses only. Enter the recipient's wallet address, not the address of a token account or a program. If the recipient does not yet have a USDC token account, we create it and pay its rent, so the send works anyway.
• No SOL needed. We sponsor the network fee and that account rent. You do not need to buy or hold any SOL.
• Limits. Sending out has per-user limits to protect you and the service (for example a smallest amount and a cap per period). The dialog shows the limit that applies to you; the exact numbers are shown in the app. Today the smallest amount is $1.
• It cannot be undone. A blockchain transfer is final. A wrong address means the money is gone, and neither we nor anyone else can bring it back. Send a small test amount first when the address is new to you.
• Exchanges. Use the deposit address your exchange gives you for USDC on the Solana network, and include a memo or tag only if the exchange asks for one (USDC on Solana normally does not).

What it costs#

If you ever withdraw on Phoenix's own app instead (see below), Phoenix may charge its own withdrawal fee there; its documentation has mentioned 0.50 USDC. That is Phoenix's fee, not ours.

How long it takes#

We cannot promise a time for hop 1, because the queue belongs to Phoenix. It is not an approval step and nobody at Tradent or Phoenix is reviewing your withdrawal by hand.

Checking on Solscan#

Every withdrawal and send is an ordinary Solana transaction that anyone can look up. On Funds, each line in Activity has a details link (and the Sent dialog has View details) that opens the transaction on Solscan.

• Finalized, and a green "Success" status: the transaction happened. For hop 1, your wallet now holds the USDC. For hop 2, the recipient received it.
• No link yet and status Pending: the transaction has not been confirmed or is still queued at the exchange.
• Didn't go through: the transaction failed or expired before landing. No money moved. Try again.
• Check your balance directly: paste your wallet address into Solscan (the Funds page links to your address) and look at the USDC token balance.

If it is stuck#

1. Wait a few minutes and refresh FundsA queue delay looks like a stuck withdrawal but resolves by itself. Check the Queue line: if a lot is waiting across the exchange, it is the line.
2. Check Activity and SolscanIf Activity says Done, the dollars are in your wallet even if the card has not refreshed yet. If it says Didn't go through, nothing moved: withdraw again.
3. Check that it was not droppedIf the queued line disappeared and the balance is still in the trading account, the request was dropped (the account could no longer afford it). Withdraw again, up to the free amount.
4. Still nothing after a long waitYour money is still safe in your trading account or your wallet: only you can move it. Contact support (see Status and support) with your wallet address and the Solscan link, if any.

Withdrawing with an open position#

A trading account holds your collateral. When an agent opens a position, part of that collateral is reserved as margin to back it. You can only withdraw the part that is not needed: the free collateral. The card shows it as Free to withdraw.

• Unrealized profit and loss change it. A losing position lowers your free amount; a winning one raises it. The number on the card is our estimate, and Phoenix's program does the exact margin math when you withdraw.
• Withdrawing reduces what the agent can trade with. If you take out collateral, the agent has less room, and an open position has less cushion before liquidation. Do not withdraw down to the last dollar while a leveraged position is open.
• You cannot withdraw margin that backs an open position. To release it, the position has to be closed (by the agent, or by its stop-loss or take-profit).
• Tradent has no manual close button during the pilot. Agents close their own positions. If you need to be flat right now, see Stopping an agent.

Withdrawing everything and stopping the agent#

1. Let the agent get flatOpen positions are the only thing that holds money back. Their stop-loss, take-profit or the agent's own exit releases the margin.
2. Withdraw the restPress Withdraw, Max, approve. Everything free moves to your wallet.
3. Stop the agentPress Stop agent on its card and approve once. This removes its permission to trade, on the exchange itself.
4. Optionally send the money outUse Send to another address to move the USDC from your wallet to anywhere else.

When the agent is stopped or revoked#

• Withdraw still works. The button is shown for agents that are Trading or Stopped. Stopping only removes the agent's permission to trade; the money stays in your trading account until you withdraw it or start the agent again.
• A revoked key cannot trade or withdraw. If an agent's key is revoked (by you, or by us in an incident), the exchange and our signer both refuse its orders. It could never withdraw in the first place.
• The platform kill switch does not block withdrawals. If we pause all real-money agents, exits keep working and you can still withdraw and stop agents.
• A paused or braked agent (see Risk limits) is a trading state, not a money state. Withdrawals are unaffected.

If Tradent is down or gone#

This is the most important guarantee on this page: you do not need Tradent to get your money out. The Phoenix trading account is controlled by your wallet, and the wallet's key can be exported. If our site is unreachable, withdrawals are paused in the app, or the company disappears, you can still reach your funds:

1. Export your wallet keyWhile Tradent is still reachable, use Export wallet key (see Exporting your wallet key). It is best to do this before you need it.
2. Import it into a wallet you trustAdd it to Phantom, Solflare or similar as an imported wallet. It is the same wallet, with the same address.
3. Put a little SOL in itOutside Tradent nobody sponsors your fees, so the wallet needs a small amount of SOL (a few thousandths of a SOL covers a withdrawal and any account setup).
4. Open Phoenix directly and withdrawConnect that wallet to Phoenix's own app. Your trading account and balance are there, because the account belongs to your wallet. Withdraw to the wallet, then send it wherever you like. Phoenix's queue applies there too.