Phemex Blog
Phemex Crypto Blog: Learn the latest news, updates, and industry insights on bitcoin futures, bitcoin trading, crypto derivatives exchange, and related blockchain technology.
Nicolas Tang
Nicolas is the current head of English content and PR specialist at Phemex. He purchased his first Bitcoin back in 2013 and has been a crypto enthusiast ever since. Nicolas possesses a diverse background as writer and researcher in finance, political sciences, and now crypto. He believes digital assets are the future of currencies and is firmly committed to helping others learn more on the subject.
  • Ether Fever – Trade ETH to Win from $20,000 Prize Pool 

    Phemex users, are you ready for another trading competition? This time you can win from a $20,000 pool by trading Ethereum! Rank in the top 10 by trading volume to win big. Make sure you’re registered on Phemex, then join Ether Fever through the event page. Dates There are three stages total. You can find the timeline below.   Registration Stage: Sept. 29 at 8:00 UTC  –  Oct. 1 at 8:00 UTC Competition Stage: Oct. 1 at 8:00 UTC – Oct. 15 at 8:00 UTC Prize Distribution Stage: Oct. 15 at 8:00 UTC – Oct. 22 at 8:00 UTC Prize…

  • How do I use the Crypto Converter?

    The Phemex Crypto Converter allows you to instantly convert your Crypto into USD, to be used for the USD Contract Trading Account. To learn more, please read “What is the Crypto Converter?” Besides the main Crypto Converter Page, we have also integrated the Convert function into other areas of our platform. For your convenience, there are three ways to convert between your Crypto and USD. Crypto Converter Page Log in to Phemex.com and hover your mouse over the Products option in the header of the page. From the drop-down menu, click on Convert. On the Crypto Converter page, from the…

  • What is the Crypto Converter?

    The Crypto Converter is a new Phemex function that allows you to easily and instantly convert crypto in your spot wallets into USD and vice versa. Please note, this is different than the USD that is stored within our Buy Crypto/OTC Trading. To learn more about OTC, please read “What is the Phemex OTC service?” and “How do I use the Phemex OTC Service?” The USD obtained through our Crypto Converter cannot be withdrawn. Instead, it is used for the  USD Contract Trading Account. Funding this account allows you to trade all of our USD-Margined Linear Perpetual Contracts with up…

  • How do Market Orders Fill?

    To learn more about Market Orders, please read What are Market orders? A long/buy market order will be filled at the best or lowest ask price in the order book. A short/sell market order will be filled at the best or highest bid price in the order book.   To help clarify how market orders fill, we will use our ADAUSD order book as an example. The contract size for this pair is 20 ADA. We can tell from the order book that the best ask price (Sell) is $2.6590 and the best bid price (Buy) is 2.6589. The second-best…

  • How are Trading Fees Calculated?

    All traders are classified either as Market Makers or Market Takers. A market taker, or someone that takes liquidity from our order book, is charged a 0.075% fee. A market maker, or someone that adds liquidity to our order book, is rewarded a 0.025% rebate. These fees apply to contract trading, for a full list of all fees and conditions, including spot trading, please visit: https://phemex.com/fees-conditions Market Taker Orders Contract trading Market Orders, Conditional Market Orders, Stop Loss Orders, and Take Profit Orders are Market Taker orders that will always be subject to the 0.075% fee. Market Maker Orders Contract…

  • How do I download Phemex Account Statements/Reports?

    To assist you with your tax filing purposes, Phemex offers an easy and convenient way to generate multiple types of reports for your transactions and investments. Deposits Report Log in to Phemex.com and click on Assets on the top right corner of the page. Click on the Deposit option on the left-side menu of the page. Scroll down and click on the View All option for the Recent History section. Click on the Generate Deposits Report option. In the new window that appears, select your desired Period and Symbol(s) for the report. Click the Generate button. The status of your…

  • How is Liquidation Triggered for Cross Margin Positions?

    Prerequisite: To get a complete understanding of how the Liquidation process works for a Cross Margin position, please read the following articles before proceeding. “What is Cross and Isolated Margin?” “What are Initial and Maintenance Margins?” “What is Liquidation?” Margin In the context of trading perpetual contracts on Phemex, “Margin” refers to the usage of user funds for different purposes. Every position a user opens will involve the following: Initial Margin (IM): the initial funds allocated to open the position. Maintenance Margin (MM): the minimum amount of funds that must remain within a user’s Trading Account to keep the position…

  • How do I Adjust the Margin on My Position?

    Phemex provides two types of margin options (What is Cross and Isolated Margin?). The procedures to adjust margin will vary depending on the type of position. Isolated Margin Position Assuming that leverage remains the same, adding margin to a position will help increase the distance to liquidation price (What is Liquidation?). Adding Margin To add margin to an isolated margin position, perform the following steps: Log in to Phemex.com and access the Contract Trading page. From your Open Positions tab, click the target symbol you wish to adjust. In the Leverage Module on the left side of the page, make…

  • Why is the fill price different from the liquidation price? (Bankruptcy Price)

    Phemex employs a fair price marking mechanism. This method is also commonly used by many other crypto exchanges to prevent malicious activities or low market liquidity. This is why Phemex uses the mark price instead of the last traded price to avoid liquidations due to low liquidity or manipulation. There are two types of margin related to an open position. The Initial Margin is the amount or percentage of your funds that you must allocate to open a position. The Maintenance Margin is the amount of funds you must maintain in your account in order to keep your positions open….

  • What can I do if I made an incorrect deposit?

    There are many ways in which a deposit can be performed incorrectly. Depending on the situation, we may still be able to retrieve your funds. Please review the following scenarios and follow the instructions to begin the process of retrieval. Missing or incorrect tag/memo A destination tag/memo is a unique digital code that must be included as additional information to help identify transactions. Not all cryptocurrency deposits require a memo. Those that do (XRP, EOS, etc.) will clearly state so. The correct memo code will be displayed on the deposit page with a quick copy button and a QR code…