Trade Phoenix Perpetuals
from your terminal.

Cinder is an open-source terminal trading client for Phoenix perpetuals on Solana. It renders live candles, a merged onchain spline + optional CLOB order book, market state, your positions, trader identities, and a trade panel, all inside a single TUI built on Ratatui.

Cinder runs locally and talks directly to the Solana chain, there is no hosted web frontend required for normal operation. It also has an extremely low CPU and memory footprint (typically < 10 MB of RAM) compared to a browser-based UI, with pure keyboard control for power-user workflows.

Local DeFi frontends such as Cinder protect you from multiple classes of exploits including DNS hijacks, BGP hijacks, and crypto wallet drainers. Cinder also prevents geoblocking restrictions that apply to browser-based frontends.

Localizations supported include English, Chinese, Spanish, and Russian.

Cinder signs transactions with a local Solana keypair. There are two common ways to set one up:

Generate a fresh keypair (recommended). Install the Agave toolkit (the official Solana CLI), then run:

This writes a new keypair to ~/.config/solana/id.json, which Cinder auto-detects on startup.

Use a dedicated trading keypair. We strongly recommend creating a separate keypair for Cinder rather than reusing your main wallet. Fund it with only what you intend to put at risk. You can point Cinder at any keypair file with PHX_WALLET_PATH or KEYPAIR_PATH.

Avoid importing your main wallet. Exporting a raw private key from Phantom or another wallet can expose every asset controlled by that wallet if the key is copied, stored, or handled unsafely. Cinder can use imported keypair files, but only do this if you understand the risks and are prepared to treat that key as sensitive secret material.

Phoenix is currently in private beta. Ellipsis has provided an invite code for Cinder users: COSMIC. You can also click this link to create a new account on Phoenix.

The COSMIC invite code includes a 10% discount on Phoenix protocol fees for the lifetime of your account. There's no obligation to use it, and Cinder behaves identically with or without a code attached, but if you don't already have one, this is the easiest way in.

Windows, macOS, and Linux. Pre-built binaries are published for Windows and Linux on the GitHub Releases page. macOS users can install via cargo install cosmic-cinder or build from source. Docker is available for fully sandboxed runs.

Cinder is fully cross-platform and will run on any operating system that supports the Rust toolchain. The default terminal sizes of Windows (120x30) and traditional Unix (80x24) are natively supported. Resource usage is intentionally tiny: typically under 10 MB of RAM and minimal CPU, even on older hardware.

Cinder is open-source software provided as-is. It signs transactions locally and submits them to the onchain Phoenix program; Cosmic Markets does not operate a frontend, broker, or matching engine in the path.

You're responsible for complying with the laws of your jurisdiction, including any rules around derivatives or perpetual futures. Cinder is not a regulated venue, and we don't provide financial, legal, or tax advice. Perpetuals trading carries substantial risk, including total loss of funds.

Cinder itself is free and MIT-licensed. You only pay standard Solana network fees and Phoenix protocol fees.

Disclosure: The referral code COSMIC gives new Phoenix users a 10% fee discount, and Cosmic Markets receives a portion of the protocol fees you generate while it's active. You are not required to use it, and Cinder works identically without it.

Cinder is non-custodial. Cinder signs transactions locally with a keypair you control. By default it auto-detects keypairs from standard Solana CLI locations, or you can point it at a file with PHX_WALLET_PATH / KEYPAIR_PATH. Your seed never leaves the machine.

Cinder is built for hands-on perp trading on Solana. Taking directional positions, hedging exposure, and executing whatever discretionary strategy you have in mind.

The terminal handles market, limit, and stop orders with on-screen confirmations. Real-time order book depth comes from onchain spline updates, with an optional L3 CLOB merge for finer resolution. You also get a live liquidation feed, deposit and withdrawal management, and a protocol-wide leaderboard of top open positions.

As of today, Cinder does not support automated trading strategies or trading bots. The scope of the project may expand in the future.

Cinder is fully functional out of the box using the default free Solana mainnet RPC. No paid RPC is required to use any feature.

That said, a dedicated paid RPC will give you lower latency, fewer rate limits, more reliable WebSocket subscriptions, and steadier transaction landing during high-volume periods. We've had good experience running against Helius and recommend them for anyone who wants a dedicated endpoint.

To configure, set RPC_URL (or SOLANA_RPC_URL) and the matching RPC_WS_URL for WebSocket subscriptions. Cinder also supports public-RPC fan-out for transactions, controlled by CINDER_FANOUT_PUBLIC_RPC, so submissions stay reliable when your primary RPC hiccups.

Open an issue on GitHub or drop into the Discord; we triage both. Pull requests welcome.