Rakebk / Exchanges / BingX vs Phemex
BingX vs Phemex: which costs less after the rebate?
One answer at every volume:
At every volume: BingX is cheaper · $300 vs $390 at $1M
Cheaper at every volume
BingX
40% back · fee 0.05%
$300
net cost at $1M / month
VS
Never the cheaper one
Phemex
35% back · fee 0.06%
$390
net cost at $1M / month
Your monthly volume$1M
$100K$1M$10M$100M$1B
BingX code · 40% back
PTY3WGFW
Phemex code · 35% back
CVCTQ9
Cheaper at every volumeBingX
BingXsaves $90 a month at $1M
Cheaper at no volumePhemex
Phemexnever the cheaper one from $100K to $1B
Fee after rebate at $1MBingX0.0300%Phemex0.0390%
BingX0.0300%Phemex0.0390%Saving at $1M
$90
a month on BingX · $1,080 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.
BingXPhemexWhat you actually pay each month
Trading fees minus the rebate, at five monthly volumes. Green is the cheaper one.
Volume / month
BingX netPhemex netDifference
$100K
$30
$39
BingX saves $9
$1M
$300
$390
BingX saves $90
$10M
$2,400
$3,575
BingX saves $1,175
$50M
$10,500
$14,625
BingX saves $4,125
$500M
$75,000
$97,500
BingX saves $22,500
Which one is for you
Choose BingX if
- It costs you less after the rebate at every volume
- You want the lower fee from your very first trade: 0.05% vs 0.06%
Choose Phemex if
- You already have an account there
Side by side
BingXPhemexRebate
40%
35%
Entry taker fee
0.05%
0.06%
Fee after rebate
0.0300%
0.0390%
Net cost at $1M
$300
$390
Markets
Perpetuals, Spot
Perpetuals, Spot
Payout
Auto, usually 24h
Auto, usually 24h
Code
PTY3WGFW
CVCTQ9
BingX
- BingX sets one tier for every market, on the best of 30 day futures volume, 30 day spot volume or yesterday's assets, so you can sit higher than the volume alone suggests.
- Elite is a real tier between Regular and VIP 1.
- From VIP 4 up, API trading must stay under 20% of your volume.
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.
The two fee ladders
The evidence behind every figure above, as each exchange publishes it.
BingX · Derivatives
Tier
30-day volume
Maker
Taker
Regular
$0
0.02%
0.05%
Elite
$5,000,000
0.018%
0.045%
VIP 1
$10,000,000
0.014%
0.04%
VIP 2
$20,000,000
0.012%
0.0375%
VIP 3
$50,000,000
0.01%
0.035%
VIP 4
$100,000,000
0.008%
0.0315%
VIP 5
$200,000,000
0.006%
0.03%
Supreme VIP
$500,000,000
0%
0.025%
Phemex · Derivatives
Tier
30-day volume
Maker
Taker
VIP 0
$0
0.01%
0.06%
VIP 1
$8,000,000
0.008%
0.055%
VIP 2
$18,000,000
0.006%
0.05%
VIP 3
$45,000,000
0.004%
0.045%
VIP 4
$85,000,000
0.002%
0.0375%
VIP 5
$180,000,000
0.001%
0.035%
Star VIP
$380,000,000
0%
0.03%
Questions
Which is cheaper, BingX or Phemex?
One answer at every volume:
- At every volume: BingX is cheaper · $300 vs $390 at $1M
Why does the bigger rebate not always win?
A rebate is a share of the fee. A higher fee can hand back more dollars and still cost you more.
- BingX: 40% back on a 0.05% fee → you pay 0.0300%
- Phemex: 35% back on a 0.06% fee → you pay 0.0390%
- What you pay is the fee after the rebate, not the rebate %
Can I use both codes?
Yes.
- They are separate exchanges, so each account gets its own rebate
- Open each one through its own Rakebk link or code
- A code only works on a new account
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 30 Sep 2026
Go deeper
BingX code and fees40% back · full fee ladder · what it is worth
Phemex code and fees35% back · full fee ladder · what it is worth
