Gate vs Phemex

Gate collects new coins, Phemex collects leverage and contracts. Different jobs, usually done on different venues.

Puffit editorial · · about authorship and sources

Compared by the numbers

These figures come from the venues themselves. Volume is missing on purpose: every exchange counts it its own way, and on a few the top of the book is tokenised equities. The bottom row counts the P2P currencies our scanner reaches, not everything the venue lists.

GateGate PhemexPhemex
USDT pairs2,038149
Futures contracts1,070129
Networks for USDT26—
Cheapest USDT withdrawal0.0500 ARBITRUM—
P2P currencies in our scanner72 currencies—

In short: the difference

First in the pair, Gate, is the place where new coins show up first. On the market since 2013, jurisdiction: Panama, its own GT token.

Second in the pair, Phemex, is a derivatives terminal. On the market since 2019, jurisdiction: Samoa.

What Gate gives you

The terminal is strong on contracts, but Gate has its own ground: One of the oldest venues, running since 2013, and first in our coverage for withdrawal networks: twenty-four for USDT alone. Two thousand spot pairs and a thousand perpetuals. There is P2P, savings and staking, Startup launches, copy trading, bots and its own GT token with fee discounts.

Strong sides: 24 USDT withdrawal networks, more than anyone, 2000 spot pairs, running since 2013.

What Phemex gives you

Against an early-listing venue, Phemex plays a different game: A derivatives venue founded by people from bank trading desks. A hundred and fifty spot pairs and a hundred and twenty perpetuals, each with its own funding rate. There is savings, copy trading and trading bots. The book is even and the data is served openly, which makes its prices sound to compare with other venues.

Strong sides: an even book, open data, the funding interval stated per contract.

What decides it

  • Age. Gate has run since 2013, Phemex since 2019 — a gap of 6 years. It guarantees nothing on its own, but the older venue has been through more market cycles.
  • Jurisdiction. Gate sits in Panama, Phemex in Samoa. It shapes both the checks you pass and what the venue has to disclose.
  • Native token. GT on Gate cuts fees and opens launches; Phemex has no such lever.
  • Strengths side by side. Gate: 24 USDT withdrawal networks, more than anyone, 2000 spot pairs, running since 2013; Phemex: an even book, open data, the funding interval stated per contract.
  • Which job. Gate is for anyone who values freedom of choice when moving coins between chains, while Phemex is as an additional venue in cross-exchange routes and funding.
  • Worth remembering. Gate: the interface is dense with sections: finding the right one takes a while. Phemex: a narrow listing next to the Asian venues.

Which one fits you

Gate — for anyone who values freedom of choice when moving coins between chains.

Phemex — as an additional venue in cross-exchange routes and funding.

What people ask most

Gate: What does the GT token give me? A fee discount and access to exchange programmes, including early sales.

Gate: Are there many coins? One of the widest listings on the market, comparable to MEXC. As there, breadth calls for caution: check a pair's volume before trading.

Phemex: Why is Phemex absent from your transfers section? It publishes the network list but not withdrawal fees — its directory has no field about cost at all. Showing networks without the price of moving is pointless.

Phemex: Does Phemex have its own token? No, it has no exchange token.

Both at once

Keeping both costs less than it seems: signing up is free, and a choice of two quotes usually beats one. The coin is bought where it already trades, moved across and shorted with a contract on the other — that locks the price while the transfer runs.

Live numbers

The figures above do not come from marketing pages: we compute them from the same market snapshots as the rest of the site. Gate and Phemex can be compared on facts rather than promises.

What the numbers say

Only Gate gives a measurable USDT withdrawal: 0.0500 over ARBITRUM. Counting spot pairs, Gate comes out ahead by 13.7×: 2,038 USDT pairs against 149. The futures list runs longer on Gate: 1,070, against 129. P2P data comes from Gate only — 72 currencies.

Snapshot from 31 October 2026; on the page the figures refresh on every visit.

Gate ↗Phemex ↗

Frequently asked

Phemex or Gate — which should you pick?
It is the same choice whichever way round you write it. The comparison above is built on what can be measured: fees, pair counts, withdrawal chains and funding routes. Look less at which venue is "better" in general and more at which of those matters to you.

Other comparisons and walkthroughs

MEXC or GateThe two exchanges with the widest coin selection. A look at how they differ when both listings are enormous.KuCoin or GateBoth live off coins the top three do not carry. A look at how they differ from each other.Binance vs GateGate catches new listings first; Binance lets you fill a large order without slippage. That is the whole fork.Binance vs PhemexAn all-rounder against a terminal: Binance has the deeper book and wider service set, Phemex the smoother contract trading.Bybit vs GateYou go to Gate for new listings and to Bybit for leverage. Picking one is rarely necessary — people keep both.Bybit vs PhemexBybit and Phemex play the same game. The difference shows up in transfer costs and in where a position is calmer to hold.OKX vs GateFor a rare coin go to Gate; for bots and earn go to OKX. They overlap less than it looks.OKX vs PhemexPhemex is built for contracts; OKX also covers earn, bots and launches. It comes down to what you need more often.How to trade on GateRunning since 2013, with twenty-four networks for USDT withdrawals — more than any other venue in our review.How to trade on PhemexA derivatives venue founded by bank derivatives traders: a fast engine, a tidy listing and an exact funding interval per contract.