Rewards Hub Key Takeaways
Copy Trading Transparency: While both Phemex and Bybit have robust copy trading, Phemex differentiates itself by providing highly transparent risk data including drawdown, leverage spikes, and consistency that prevent users from being misled by headline ROI.
Automation vs. Manual Execution: Phemex treats automation as a native workflow, integrating trading bots directly into its derivatives platform to reduce external API risks and friction. Bybit excels in manual execution with sophisticated order types but typically relies on external API connections for more advanced automation.
Accessible Fee Tiers: Phemex offers an aggressively tiered fee schedule that is often easier for high-volume traders to climb. For example, the 0% maker fee threshold on Phemex is reached at $380 million in monthly volume, whereas Bybit requires over $500 million for similar benefits.
Structured Growth for Beginners: Phemex is designed as a guided launchpad which links educational content directly to platform features like copy trading and native bots. Bybit is better suited for those who already think like a trader as it offers an environment that can be overwhelming for those without a derivatives background.
Crypto Copy Trading - Data Transparency
Both Phemex and Bybit boast a robust copy trading feature, in which novice and intermediate users can benefit from following expert strategies, while veteran traders can enjoy profit commissions from sharing their strategies. However, it’s important to realize that copy trading can be where most users get burned - not because the idea is bad, but because the “results” presented on many platforms can create a false sense of certainty. A leaderboard can look impressive while hiding the exact things a follower should care about such as drawdowns, leverage spikes, liquidation history, and survivorship bias.
Phemex: Real & Transparent Copy Trading as a Safety Feature
Phemex’s strongest copy-trading angle is not only that they are home to thousands of top traders. After all, many platforms claim that. Phemex can assert an even more convincing proposition - that their data is presented in a way that copy traders can easily avoid traps.
In a transparency-first copy trading environment, the goal is to make three things hard to fake:
What happened in terms of realized outcomes, not just floating PnL at a convenient moment
How it happened via a comprehensive risk profile showing leverage, drawdown, concentration, duration
Whether it’s repeatable to showcase consistency across market regimes and time windows
This real and transparent positioning from Phemex resolves the most common copy-trading failure experienced by users: following a trader based on a headline ROI that came from a narrow window, extreme leverage, or a strategy that behaves like a coin-flip until it doesn’t. The platform provides context about how profits were made (leverage, duration, concentration) and if those profits are consistently replicated over time. Because Phemex also emphasizes education via its Academy, new traders can better understand what metrics like win rate versus payoff ratio really mean.
Bybit: Copy Trading Communities with Murky ROI Presentation
By contrast, Bybit is often praised for its active trader community and copy‑trading breadth, yet it doesn’t emphasise data context in the same way. Bybit has strong copy trading visibility and a trader-heavy user base, which are real advantages. However, scale doesn’t automatically solve the transparency problem. Copy-trading leaderboards on any platform tend to favor what looks good over what is structurally sound. They can make it easy to follow the hottest trader but less experienced users might miss red flags if they aren’t used to reading beyond ROI. Without equal emphasis on risk metrics, followers may end up chasing performance that came from high leverage or short‑term volatility.
Copy Trading Function | Phemex | Bybit | What it means |
Core Model | Exchange-native Copy Trade (futures-focused) with a built-in trader list/leaderboard. | Copy Trading Classic: follow/copy top traders based on real-time PnL. | Both are designed for users to follow top traders. Phemex differentiates on execution design and reporting clarity |
Transparency | Phemex provides more granular breakdown: Total Profit, Realized Profit, Unrealized P/L, Profit Sharing are all displayed clearly. | Bybit provides detailed lead trader performance data and encourages reviewing lead trader portfolios. | Bybit has robust stats, but Phemex’s copy trading makes trader evaluation less ambiguous. |
Automation | Phemex explicitly pairs Copy Trade + Trading Bots as two parallel paths, with bot profile pages showing PnL/ROI/copier info. | Bybit has a broader product ecosystem, but the copy trading focuses on the copy feature set rather than a unified bot+copy concept. | Phemex organizes automation into a single decision surface so you can compare strategies consistently. |
Trader Discovery | Leaderboard-based discovery. Rankings determined by Realized P&L and ROI, updated frequently. | Bybit copy page highlights top traders globally with real-time PnL emphasis. | Both have discovery/leaderboards. Phemex features explicit ranking logic and frequent refresh to help users interpret what they’re seeing. |
Why Choose Phemex over Bybit for Copy Trading Crypto
If you’re picking one platform for copy trading specifically, Phemex should be the top choice because it prioritizes data transparency first and foremost as opposed to attention-grabbing yet misleading ROIs. The platform invites traders to question how ROI numbers on its leaderboard are achieved and whether the strategy matches their own risk tolerance. If copy trading safety is your top priority, Phemex’s data‑rich approach provides the most accurate context. While Bybit can absolutely host great traders, the question is if they make it easy for a beginner to see beyond the ROI headline. On Bybit, you may need to be an experienced trader to interpret the stats, which means the product can be powerful but not as inherently safe as can be.
Crypto Derivatives - Manual vs Automation Edge
Phemex: Setting up Trading Bots for Unleashed Automation
Derivatives trading is where both platforms shine, but their philosophies diverge. Phemex has built its identity around automation in addition to standard derivatives. The exchange integrates bots directly into the futures platform so you don’t need an external API or separate tool to run systematic strategies. Phemex’s Bot Marketplace lets you copy or customize strategies with as much as 100× leverage and track results in one place. This integration reduces friction because fewer things can go wrong when execution and margin management live on the same platform. Phemex also boasts an uptime of 99.999 %, emphasising that high availability is essential when automation is triggered by fast markets.
Bybit: A strong manual futures culture
Bybit, on the other hand, is known for its high‑performance manual trading experience. Its interface and tooling feel like they’re designed by and for derivatives traders who want to be at the controls. Manual order placement, sophisticated order types, and flexible charting attract traders who prefer to manage entries and exits themselves.
However, Bybit’s automation story doesn’t feel as integrated. Users who want to run bots typically connect external services via API keys. This approach can work well for technical users, but it introduces additional points of failure such as server uptime, API limits, and the complexities of managing a separate bot infrastructure. While Bybit offers grid and DCA bot features, they generally live as adjuncts rather than as core platform components. Users often feel like they’re acting as system integrators rather than simply as traders.
Why Choose Phemex over Bybit for Crypto Derivatives and Futures Trading
If your goal is automated derivatives, the core argument is simple: the more pieces you bolt on, the more fragile the system becomes. Choose Phemex if you want automation that lives where your risk lives (in your positions, margins, and stop losses). Crypto derivatives on Phemex require fewer moving parts to maintain and a shorter gap between idea to execution for new strategies. Moreover, Phemex offers a robust range of instruments: over 600 spot pairs and derivatives with up to 100× leverage. When you tie that depth to the automation edge, the platform effectively becomes an environment where both discretionary and systematic traders can coexist.
Crypto Exchange Fee Structures and Discounts
Phemex Fee Structure
Phemex keeps its fees straightforward for derivatives. Base futures fees start at 0.01 % maker and 0.06 % taker, as noted in Phemex’s official materials. From there, Phemex offers a VIP program that reduces costs as your 30‑day trading volume increases. For example, VIP tiers can drop taker fees from 0.06 % down to 0.05 % at $18 million futures volume and eventually to 0.03 % at the highest Star VIP tier. Maker fees likewise decline, eventually reaching 0 % at the top tiers.
Phemex’s spot trading fees are also simple at 0.1 % maker/taker for most pairs. For traders who operate systematic, maker‑heavy strategies, that 0.01 % baseline for futures plus the possibility of 0% at higher volumes can lead to meaningful monthly savings.
Bybit Fee Structure
Bybit offers competitive derivatives fees, though its schedule is typically a notch higher than Phemex at the entry level. The base for many perps sits around 0.02 % maker and 0.055-0.06% taker depending on contract type and market conditions. VIP tiers can reduce these fees, but the reductions are not always as aggressive as Phemex’s 0% maker levels. Bybit’s spot fees are usually 0.10 % for both takers and makers as well, with rebates on certain pairs if your 30‑day volume is high enough.
The practical impact? If you trade $10 million in futures a month using mostly limit (maker) orders, the difference between 0.01 % (Phemex) and 0.02 % (Bybit) is $1,000 saved per month. If you scale to $380 million and reach Phemex’s VIP tiers, that 0 % maker cost could save tens of thousands per year.
Why Choose Phemex over Bybit for Fees
When comparing fees, it’s more useful to model actual volumes. Here’s a scenario: Suppose you trade $8 million in futures per month and qualify for Phemex VIP 1. The Phemex taker fee drops to 0.055%, saving about $400 per month compared to the baseline 0.06 %. If you use mostly limit orders, the maker fee difference saves even more. On a $45 million monthly volume, Phemex VIP 3 costs fall to 0.05% taker resulting in savings relative to the default tier of several thousand dollars. These quantified savings show why percent differences matter less than dollar outcomes.
High volume traders can enjoy 0% maker fees on futures on both platforms, but they would need to rack up over $500 million in monthly volume on Bybit whereas only $380 million is required on Phemex. This means Phemex’s top VIP threshold is around only 75% of Bybit’s, making Phemex discounts easier to obtain. Bybit users should also consider other cost factors such as deposit or withdrawal fees, interest rates for leveraged products, and potential spread costs. While Bybit remains competitive, Phemex’s simple and aggressively tiered fee schedule is designed to appeal to high‑volume, systematic traders.
Assume $100,000,000 monthly derivatives notional volume. Fees below use published VIP0 rates unless stated otherwise:
Scenario | Phemex fee cost | Bybit fee cost | Difference |
Maker-heavy execution (100% maker) | 0.01% → $10,000 | 0.020% → $20,000 | Save $10,000 with Phemex (50% lower maker fee). |
Balanced execution (70% maker / 30% taker) | 0.7×0.01% + 0.3×0.06% = 0.025% → $25,000 | 0.7×0.020% + 0.3×0.055% = 0.0305% → $30,500 | Save $5,500 with Phemex (maker advantage outweighs taker gap). |
Taker-only execution (100% taker) | 0.06% → $60,000 | 0.055% → $55,000 | Bybit is $5,000 cheaper for pure taker flow at VIP0. |
VIP3 maker-heavy (100% maker) | VIP3 maker 0.004% → $4,000 | VIP3 maker 0.014% → $14,000 | Save $10,000 with Phemex at VIP3 for maker flow. |
Beginner Experience
Phemex: Great for Newcomers Who Want to be Traders
Phemex offers a more structured journey for beginners who aspire to become active traders. Its educational hub, the Phemex Academy, provides easy‑to‑follow tutorials on trading basics, crypto fundamentals, and step‑by‑step guides to using the platform. This educational content is closely tied to the platform’s various features. For example, after a user reads about copy trading, they can browse real strategies and see not just ROI, but drawdowns and risk metrics. Phemex’s copy trading and bot marketplace allow newcomers to “shadow trade” experienced traders in a relatively guided environment. Because the trading interface is well integrated with trading bots, beginners can start simple with spot or small futures trades and progress to automated strategies without leaving Phemex to seek external tools or resources.
Bybit: Good if You Already Think Like a Trader
Bybit is a powerful platform indeed, but it may feel more like a trading laboratory from day one. Its interface is tailored for users who either already understand derivatives or are willing to jump straight into the deep end. While Bybit does have educational resources, the onboarding experience is less integrated. Beginners might want to start on a simplified version and then switch to a more advanced layout. Many of Bybit’s features including advanced order types, manual futures, options can be overwhelming for someone without a trading background. For newcomers who aren’t yet sure they want to go all‑in on derivatives, Bybit’s learning curve can feel steep.
Why Beginners Choose Phemex over Bybit
If your goal is to grow from novice to competent trader, Phemex’s learning pathway and integrated tools provide a smoother transition. You can start by consuming educational content, test the waters with copy trading or small spot trades, and gradually build up to using built‑in bots. That progression is designed so you don’t have to constantly jump between platforms or feel out of your depth too soon. Bybit might be better for those who already have some trading experience or are comfortable learning in a more self-directed, high‑velocity environment. At the end of the day, a newcomer who wants a guided ramp into the complexities of crypto trading will likely find Phemex to be the friendlier launchpad.
FAQ
Is Phemex or Bybit better for futures trading? Phemex often becomes the smarter choice when futures trading is paired with automation and system execution.
Which is better for automated trading? Phemex believes in the idea that automation should live inside the trading environment rather than in a stitched-together external gateway. Users will likely find Phemex’s one-stop automation platform to be easier to navigate.
What are the best platforms for crypto copy trading? If your priority is copy trading safety and reliability, Phemex is the better choice because it emphasizes transparent performance data and risk context. If your priority is breadth and a trader-heavy ecosystem, Bybit may be compelling but this may be reserved for already experienced traders who can adequately evaluate metrics beyond ROI.
Are low fees the main reason to choose an exchange? Fees matter, but not alone. For active traders, real cost also includes spreads, slippage, and operational friction. Always compare using realistic volume scenarios, not just percentages.
Is copy trading safe? Copy trading can be useful especially for novice to intermediate traders, but it’s not risk-free. You should always evaluate factors like drawdowns, leverage behavior, and consistency across time and not just ROI. Phemex’s copy trading interface provides clearer context on these risk factors.
Who Should Use Phemex vs Bybit?
If you want copy trading with better data transparency so that you can better assess which strategies to follow with clearer risk context, consider Phemex.
If you want automation to feel native with trading bots integrated into a crypto derivatives platform without needing to build an external bot stack, consider Phemex.
If you’re a beginner who wants a structured growth path toward becoming a systematic trader, consider Phemex.
If you prioritize a platform culture built around hands-on futures trading, and you’re comfortable managing strategies yourself, consider Bybit.
Phemex vs Bybit - The Bottom Line
Choose Phemex if you want a platform built for copy‑trading transparency, integrated automation, aggressively tiered fees for futures, battle‑tested trust and security, and a supportive ramp for newcomers. If you prefer a powerful manual derivatives platform with a deep trader community and you’re comfortable managing your own learning curve, then Bybit can be a suitable choice as well. Always conduct your own due diligence and remember that no exchange eliminates risk entirely.
