DoubleZero has added Phoenix perpetual futures market data to DoubleZero Edge. Trading firms can now use one connection for real-time perps data from Phoenix, Hyperliquid, and Kalshi.
The announcement makes Phoenix, built by Ellipsis Labs, the third perpetuals venue on Edge and the platform’s first decoded Solana market data feed. The Phoenix integration includes top-of-book, trades, and market-by-price data across all Phoenix perps markets.
Firms no longer need to receive raw Solana data and reconstruct the Phoenix book themselves. Edge ingests Solana shreds from its multicast network, decodes Phoenix’s onchain program state, and delivers a structured order book in a format comparable to the Hyperliquid and Kalshi data firms already use.
DoubleZero’s early benchmarks indicate that the Phoenix Solana perps book reaches traders more than 750 milliseconds faster through Edge.
Why Phoenix Matters for Solana Perps
Phoenix is Solana’s native perpetual futures exchange, one of the ecosystem’s most performance-sensitive markets. Market makers, arbitrage desks, algorithmic strategies, and automated agents rely on frequent updates to order books, trades, and prices as liquidity changes.
The launch reduces the infrastructure work required for firms to access multiple venues because they do not have to rebuild their data pipelines whenever Edge adds a market.
“Solana is home to incredibly fast markets, but you can only trade as fast as the market’s data actually reaches you,” Austin Federa, co-founder of DoubleZero, said in the announcement. “DoubleZero Edge is built to keep adding new venues into their stream without making firms rebuild their entire stack each time.”
The feed comes as Phoenix’s reported trading activity has grown. Citing Blockworks data, DoubleZero reported that Phoenix perpetuals volume reached $776.7 million in Q2 2026 and roughly $2.0 billion in Q3 to date, bringing cumulative perpetuals volume above $2.9 billion.
At that volume, market data distribution has become relevant to institutional trading infrastructure, particularly for firms comparing Solana-native perps liquidity with other crypto and prediction-market venues.
From Raw Solana Shreds to Structured Market Data
The technical change is the move from raw blockchain data to decoded, venue-specific market data.
Before the launch, Solana data on Edge was a stream of raw blockchain information. Infrastructure teams could use it, but subscribers had to parse the data, interpret the program state, and assemble the order book before using it for trading.
Edge now handles that decoding for Phoenix. It consumes Solana shreds, decodes the onchain market state, and distributes a finished market-by-price order book for Phoenix perps markets.
Trading firms generally need standardized, low-latency market objects rather than raw data fragments. They can plug a structured book into systems that already process other venue data, while raw chain data often requires Solana-specific engineering.
Market makers and automated strategies gain consistency as well as speed. Because the Phoenix feed resembles Edge’s Hyperliquid and Kalshi feeds, firms can monitor several venues through one distribution layer, compare pricing, and deploy strategies without maintaining a separate ingestion stack for each market.
Edge Expands Its Multi-Venue Model
DoubleZero Edge is a low-latency market data distribution platform for machine-speed consumers. The Phoenix launch follows Kalshi crypto perpetual futures in August and Hyperliquid perps earlier in September.
DoubleZero is building Edge as a venue-neutral data layer rather than a single-market product. Once connected, a firm can consume new venue feeds as Edge adds them instead of establishing and maintaining a separate connection for each data source.
Phoenix places a Solana-native perps venue beside Hyperliquid and Kalshi in the same institutional data stream. The venues differ in liquidity, market design, and user base, but the feed puts Phoenix in front of firms seeking fast, normalized, machine-readable data from several trading venues.
The integration also gives AI trading systems and agent-based workflows direct access to order book and trade data without requiring them to interpret lower-level blockchain output. DoubleZero identified automated AI trading systems as potential subscribers.
A Market-Structure Step for Solana DeFi
The Phoenix integration changes how professional trading systems access and consume Phoenix market data. It does not alter the matching engine or create liquidity.
Data distribution affects participation in fast markets. Firms may avoid a venue when its order book is hard to consume, slow to reach their systems, or expensive to integrate, even as liquidity grows. A decoded, low-latency feed reduces that barrier by packaging Solana-native perps data like the standardized market data firms use elsewhere.
Phoenix also gives Edge another use case on Solana. In addition to carrying raw blockchain data, the platform now turns onchain state into structured trading data for a specific application.
The Phoenix feed is available through DoubleZero Edge, and firms can subscribe on DoubleZero’s Phoenix page. Phoenix now has a more direct route into institutional trading systems, while Solana perps gain infrastructure that makes onchain markets easier to trade at machine speed.
