Aster vs Phemex: which costs less after the rebate?

Q: Which is cheaper, Aster or Phemex?

It depends on your monthly volume: Under $8M: Aster is cheaper · $380 vs $390 at $1M. $8M to $10.7M: Phemex is cheaper · $3,575 vs $3,800 at $10M. $10.7M to $18M: Aster is cheaper · $3,563 vs $3,830 at $10.7M. $18M to $214.3M: Phemex is cheaper · $14,625 vs $16,625 at $50M. $214.3M to $380M: Aster is cheaper · $46,821 vs $48,750 at $214.3M. From $380M up: Phemex is cheaper · $97,500 vs $109,250 at $500M.

Q: How are these numbers worked out?

Every order counted as a taker. At the fee tier your monthly volume reaches on each exchange's published ladder. Minus the rebate. Both ladders are on this page, read from each exchange's own fee page. Updated 19 Oct 2026.

It depends on your monthly volume:

Under $8M: Aster is cheaper · $380 vs $390 at $1M
$8M to $10.7M: Phemex is cheaper · $3,575 vs $3,800 at $10M
$10.7M to $18M: Aster is cheaper · $3,563 vs $3,830 at $10.7M
$18M to $214.3M: Phemex is cheaper · $14,625 vs $16,625 at $50M
$214.3M to $380M: Aster is cheaper · $46,821 vs $48,750 at $214.3M
From $380M up: Phemex is cheaper · $97,500 vs $109,250 at $500M

DerivativesEvery order a taker Updated 19 Oct 2026Numbers from each exchange's fee page

Cheaper under $8M · $10.7M to $18M · $214.3M to $380M Aster logo

Aster DEX No KYC

5% back · fee 0.04%

$380

net cost at $1M / month

Cheaper $8M to $10.7M · $18M to $214.3M · from $380M up Phemex logo

Phemex

35% back · fee 0.06%

$390

net cost at $1M / month

Your monthly volume$1M

$100K$1M$10M$100M$1B

Aster code · 5% back

sWvM44

Get 5% on Aster

Phemex code · 35% back

CVCTQ9

Get 35% on Phemex

Cheaper under $8M · $10.7M to $18M · $214.3M to $380M

Aster

saves $10 a month at $1M

Cheaper $8M to $10.7M · $18M to $214.3M · from $380M up

Phemex

saves $225 a month at $10M

Fee after rebate at $1M

Aster0.0380%

Phemex0.0390%

Saving at $1M

$10

a month on Aster · $120 a year

What every $1M you trade costs, after the rebate

The more you trade, the cheaper each exchange's fee tier gets. Where the lines cross, the cheaper exchange changes. Hover to price any volume.

Aster

Phemex

What you actually pay each month

Trading fees minus the rebate, at five monthly volumes. Green is the cheaper one.

Volume / month

Aster net

Phemex net

Difference

$100K

$38

$39

Aster saves $1

$1M

$380

$390

Aster saves $10

$10M

$3,800

$3,575

Phemex saves $225

$50M

$16,625

$14,625

Phemex saves $2,000

$500M

$109,250

$97,500

Phemex saves $11,750

Which one is for you

Choose Aster if

You trade under $8M a month: it costs you less after the rebate
You trade between $10.7M and $18M a month
You trade between $214.3M and $380M a month
You want the lower fee from your very first trade: 0.04% vs 0.06%
You want to trade without KYC (no ID verification)

Choose Phemex if

You trade between $8M and $10.7M a month: it costs you less after the rebate
You trade between $18M and $214.3M a month
You trade $380M a month or more

Side by side

Aster

Phemex

Rebate

35%

Entry taker fee

0.04%

0.06%

Fee after rebate

0.0380%

0.0390%

Net cost at $1M

$380

$390

Markets

Perpetuals, Spot

Payout

Auto, usually 24h

Code

sWvM44

CVCTQ9

KYC (ID verification)

Not required

Required

Aster

Aster figures here assume you hold the $ASTER each fee tier requires (500 for VIP 2, up to 2.5M for VIP 6); without it you stay on VIP 1, 0.04%, at any volume.
The amount per level is on the Aster page.

Phemex

Phemex grants the same tier on assets or on vePT as well as on volume.
These thresholds assume API trading stays under 20% of your volume; above that Phemex prices you on a separate Pro ladder, which is not modelled here.