Phemex vs BloFin

Phemex vs BloFin: which to use

Phemex vs BloFin is a choice between a lower maker fee and looser limits without ID. Phemex charges 1 bp maker and 6 bp taker, and requires KYC before an account can trade or withdraw. BloFin charges 2 bp maker and 6 bp taker, lets you trade futures without ID with no leverage limit, and caps withdrawals at 20,000 USDT a day until you verify. BloFin lists 495 perp markets against 132 on Phemex, and both go up to 150x. Verification, maker fees and market count decide it for most traders.

How each exchange is built

Phemex and BloFin are both centralized exchanges (CEX): you open an account with the company, and the account holds your funds. Both match orders on a central limit order book. For the trader this means an account login on each, and an order book that sets the price you get.

Fees and what they mean

Phemex's base tier is 1 bp maker and 6 bp taker, per Phemex's fee page. BloFin's is 2 bp maker and 6 bp taker, per BloFin's fee page.

The taker rate is the same on both, so a market order costs 12 bp in fees per round trip on either exchange: 6 bp to open and 6 bp to close. A limit order that rests on the book and is filled later pays the maker fee instead, 1 bp on Phemex and 2 bp on BloFin. If you work mostly with limit orders, that gap applies on every fill.

Fees are only part of a trade's cost. Slippage, the price you move by eating through the order book, grows with size. The cost table above adds both at each size from $1k to $5M, and every exchange's trading cost is compared on one page.

Markets and leverage

As of 1 October 2026 BloFin lists 495 active perps, 115 of them stocks, commodities, FX or other real-world assets. Phemex lists 132, of which 67 are real-world assets. BloFin has more markets in total and more real-world markets. Phemex has a larger share of its list in real-world assets.

Both offer up to 150x on their highest-leverage markets; most markets allow less. Funding differs by interval. Phemex pays every 4 hours or 8 hours depending on the market. BloFin pays every 1 hour, 4 hours or 8 hours depending on the market. An hourly market settles 24 times a day, an 8-hour market three times, so check a market's interval before you hold a position. The list further down this page shows the markets both exchanges have and each one's funding rate.

Who can use them

Phemex requires KYC. Verification unlocks spot and futures trading, and an unverified account cannot withdraw at all.

BloFin limits an account without ID: trading starts without ID, inside limits that verification lifts. You can trade futures with no ID and no leverage limit, but withdrawals are capped at 20,000 USDT a day until you verify.

Reading the numbers on this page

Both exchanges publish open interest as one side of open positions, so the open interest row and chart above compare like with like. Neither publishes TVL, as is usual for a centralized exchange, so the page has no TVL row or chart for this pair.

The Head to head table above shows today's volume, funding and depth for each exchange. For funding on a single asset across many exchanges, see the funding matrix.

Which one fits you

• Pick Phemex if you trade with limit orders: 1 bp maker against 2 bp.
• Pick Phemex if you want your funding on a 4-hour or 8-hour schedule, with no hourly markets.
• Pick Phemex if you want a list where 67 of 132 perps are stocks, commodities, FX or other real-world assets.
• Pick BloFin if you want to start trading futures without ID, with no leverage limit.
• Pick BloFin if you want more markets: 495 perps, 115 of them real-world assets.
• Pick BloFin if you want markets with hourly funding, in addition to 4-hour and 8-hour ones.