WEEX vs Phemex

Two derivatives terminals. The contract lists on WEEX and Phemex look alike, so details decide: fees, withdrawal networks and how the interface feels.

Puffit editorial · · about authorship and sources

Compared by the numbers

All of it is pulled from the platforms as they publish it. Volume is the one figure we skip — the counting rules differ so widely that a side-by-side would mislead rather than inform.

WEEXWEEX PhemexPhemex
USDT pairs1,601149
Futures contracts1,045129
Networks for USDT11—
Cheapest USDT withdrawal0.0150 OPTIMISM—
P2P currencies in our scanner89 currencies—

In short: the difference

What WEEX is: a derivatives terminal. On the market since 2018, jurisdiction: Singapore, its own WXT token.

What Phemex is: an exchange that lives on leverage. On the market since 2019, jurisdiction: Samoa.

What WEEX gives you

The terminal is strong on contracts, but WEEX has its own ground: A young venue that grew fast: seventeen hundred spot pairs and a thousand perpetuals, more than many long-established names. There is P2P in dozens of currencies, copy trading, savings and its own WXT token. The exchange is known for the user protection fund it holds publicly.

Strong sides: 1700 spot pairs and 1000 contracts, a broad P2P, a public protection fund.

What Phemex gives you

Next to a derivatives terminal, Phemex answers with something else: 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

  • Jurisdiction. WEEX sits in Singapore, Phemex in Samoa. It shapes both the checks you pass and what the venue has to disclose.
  • Native token. WXT on WEEX cuts fees and opens launches; Phemex has no such lever.
  • Strengths side by side. WEEX: 1700 spot pairs and 1000 contracts, a broad P2P, a public protection fund; Phemex: an even book, open data, the funding interval stated per contract.
  • Which job. WEEX is for anyone who needs a wide choice of pairs and a live P2P in their currency, while Phemex is as an additional venue in cross-exchange routes and funding.
  • Worth remembering. WEEX: eleven withdrawal networks — fewer than the largest venues. Phemex: a narrow listing next to the Asian venues.

Which one fits you

WEEX — for anyone who needs a wide choice of pairs and a live P2P in their currency.

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

What people ask most

WEEX: Is WEEX worth it for arbitrage? As a source of divergence, yes: the books are thinner than at large venues and prices stray from the market more often.

WEEX: Where is P2P on WEEX? At /buy-crypto, not /p2p — the expected link leads nowhere. Our rates and route sections pull WEEX ads automatically.

WEEX: Does WEEX have an official YouTube channel? We checked the link in the weex.com footer in September 2026: it leads to a channel holding no videos that does not belong to the exchange. So we link no video here, and suggest taking instructions from the help centre linked below.

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: Why do Phemex prices look strange in its API? They are served as scaled integers: 160700000 at a scale of eight is 1.607. The scale differs per market and lives in the product directory.

Phemex: How many pairs and contracts does Phemex have? Around a hundred and fifty USDT spot pairs and a hundred and twenty-three perpetuals. It is one of the smaller venues we cover.

Both at once

You do not have to pick one. Two accounts give you a fallback when the coin or network you need exists only on the other venue. Keeping both pays off on funding: the rate on the same pair diverges between venues, and that gap is exactly what a delta-neutral pair earns.

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. WEEX and Phemex can be compared on facts rather than promises.

What the numbers say

Only WEEX of the two reaches our P2P scanner, in 89 currencies. Spot breadth favours WEEX — 1,601 USDT pairs to 149, 10.7× more. Only WEEX gives a measurable USDT withdrawal: 0.0150 over OPTIMISM. Derivatives go to WEEX: 1,045 perpetuals against 129.

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

WEEX ↗Phemex ↗

Frequently asked

Phemex or WEEX — 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

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