Rakebk / Exchanges / OKX vs Phemex
OKX vs Phemex: which costs less after the rebate?
It depends on your monthly volume:
Under $10M: Phemex is cheaper · $390 vs $450 at $1M
$10M to $18M: OKX is cheaper · $3,240 vs $3,575 at $10M- $18M to $45M: about the same on both (under 1% apart)
- $45M to $50M: Phemex is cheaper · $13,163 vs $14,580 at $45M
- $50M to $85M: OKX is cheaper · $12,600 vs $14,625 at $50M
- From $85M up: Phemex is cheaper · $45,500 vs $48,600 at $200M
Cheaper $10M to $18M · $50M to $85M
OKX
10% back · fee 0.05%
$450
net cost at $1M / month
VS
Cheaper under $10M · $45M to $50M · from $85M up
Phemex
35% back · fee 0.06%
$390
net cost at $1M / month
Your monthly volume$1M
$100K$1M$10M$100M$1B
OKX code · 10% back
RAKEBK10
Phemex code · 35% back
CVCTQ9
Cheaper $10M to $18M · $50M to $85MOKX
OKXsaves $335 a month at $10M
Cheaper under $10M · $45M to $50M · from $85M upPhemex
Phemexsaves $60 a month at $1M
Fee after rebate at $1MOKX0.0450%Phemex0.0390%
OKX0.0450%Phemex0.0390%Saving at $1M
$60
a month on Phemex · $720 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.
OKXPhemexWhat you actually pay each month
Trading fees minus the rebate, at five monthly volumes. Green is the cheaper one.
Volume / month
OKX netPhemex netDifference
$100K
$45
$39
Phemex saves $6
$1M
$450
$390
Phemex saves $60
$10M
$3,240
$3,575
OKX saves $335
$50M
$12,600
$14,625
OKX saves $2,025
$500M
$121,500
$97,500
Phemex saves $24,000
Which one is for you
Choose OKX if
- You trade between $10M and $18M a month: it costs you less after the rebate
- You trade between $50M and $85M a month
- You want the lower fee from your very first trade: 0.05% vs 0.06%
Choose Phemex if
- You trade under $10M a month: it costs you less after the rebate
- You trade between $45M and $50M a month
- You trade $85M a month or more
Side by side
OKXPhemexRebate
10%
35%
Entry taker fee
0.05%
0.06%
Fee after rebate
0.0450%
0.0390%
Net cost at $1M
$450
$390
Markets
Perpetuals, Spot
Perpetuals, Spot
Payout
Auto, usually 24h
Auto, usually 24h
Code
RAKEBK10
CVCTQ9
OKX
- OKX grants the same tier on total assets as well as on 30 day futures volume, so a $100K balance alone reaches VIP 1.
- From VIP 7 up, the 10 most traded pairs are priced lower than the rest; the ladder above shows those top 10 pairs.
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.
OKX · Derivatives
Tier
30-day volume
Maker
Taker
Regular
$0
0.02%
0.05%
VIP 1
$5,000,000
0.016%
0.045%
VIP 2
$10,000,000
0.015%
0.036%
VIP 3
$50,000,000
0.01%
0.028%
VIP 4
$200,000,000
0.008%
0.027%
VIP 5
$600,000,000
0.005%
0.026%
VIP 6
$1,000,000,000
0%
0.025%
VIP 7
$1,500,000,000
-0.002%
0.02%
VIP 8
$2,000,000,000
-0.005%
0.02%
VIP 9
$20,000,000,000
-0.005%
0.015%
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, OKX or Phemex?
It depends on your monthly volume:
- Under $10M: Phemex is cheaper · $390 vs $450 at $1M
- $10M to $18M: OKX is cheaper · $3,240 vs $3,575 at $10M
- $18M to $45M: about the same on both (under 1% apart)
- $45M to $50M: Phemex is cheaper · $13,163 vs $14,580 at $45M
- $50M to $85M: OKX is cheaper · $12,600 vs $14,625 at $50M
- From $85M up: Phemex is cheaper · $45,500 vs $48,600 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.
- OKX: 10% back on a 0.05% fee → you pay 0.0450%
- 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
