Rakebk / Exchanges / BloFin vs Phemex
BloFin vs Phemex: which costs less after the rebate?
It depends on your monthly volume:
Under $8M: BloFin is cheaper · $360 vs $390 at $1M- $8M to $10M: about the same on both (under 1% apart)
- $10M to $85M: BloFin is cheaper · $6,000 vs $6,500 at $20M
From $85M up: Phemex is cheaper · $45,500 vs $48,000 at $200M
Cheaper under $8M · $10M to $85M
BloFin
40% back · fee 0.06%
$360
net cost at $1M / month
VS
Cheaper from $85M up
Phemex
35% back · fee 0.06%
$390
net cost at $1M / month
Your monthly volume$1M
$100K$1M$10M$100M$1B
BloFin code · 40% back
rakebk40
Phemex code · 35% back
CVCTQ9
Cheaper under $8M · $10M to $85MBloFin
BloFinsaves $30 a month at $1M
Cheaper from $85M upPhemex
Phemexsaves $2,500 a month at $200M
Fee after rebate at $1MBloFin0.0360%Phemex0.0390%
BloFin0.0360%Phemex0.0390%Saving at $1M
$30
a month on BloFin · $360 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.
BloFinPhemexWhat you actually pay each month
Trading fees minus the rebate, at five monthly volumes. Green is the cheaper one.
Volume / month
BloFin netPhemex netDifference
$100K
$36
$39
BloFin saves $3
$1M
$360
$390
BloFin saves $30
$10M
$3,000
$3,575
BloFin saves $575
$50M
$12,750
$14,625
BloFin saves $1,875
$500M
$105,000
$97,500
Phemex saves $7,500
Which one is for you
Choose BloFin if
- You trade under $8M a month: it costs you less after the rebate
- You trade between $10M and $85M a month
Choose Phemex if
- You trade $85M a month or more: it costs you less after the rebate
Side by side
BloFinPhemexRebate
40%
35%
Entry taker fee
0.06%
0.06%
Fee after rebate
0.0360%
0.0390%
Net cost at $1M
$360
$390
Markets
Perpetuals, Spot
Perpetuals, Spot
Payout
Auto, usually 24h
Auto, usually 24h
Code
rakebk40
CVCTQ9
BloFin
- BloFin sets one tier for every market, on the best of 30 day futures volume, 30 day spot volume or total assets, so you can sit higher than the volume alone suggests.
- If you do not trade by API, VIP 4 and VIP 5 come earlier than the thresholds shown.
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.
BloFin · Derivatives
Tier
30-day volume
Maker
Taker
Regular
$0
0.02%
0.06%
VIP 1
$10,000,000
0.006%
0.05%
VIP 2
$25,000,000
0.004%
0.045%
VIP 3
$50,000,000
0.002%
0.0425%
VIP 4
$200,000,000
0.001%
0.04%
VIP 5
$500,000,000
0%
0.035%
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, BloFin or Phemex?
It depends on your monthly volume:
- Under $8M: BloFin is cheaper · $360 vs $390 at $1M
- $8M to $10M: about the same on both (under 1% apart)
- $10M to $85M: BloFin is cheaper · $6,000 vs $6,500 at $20M
- From $85M up: Phemex is cheaper · $45,500 vs $48,000 at $200M
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.
- BloFin: 40% back on a 0.06% fee → you pay 0.0360%
- 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 23 Sep 2026
