Phemex
Phemex is a centralized exchange. Reports $691M in 24-hour trading volume across all pairs. Its domain ranks #17,741 on Tranco — the one signal an exchange cannot type about itself. CoinGecko's own trust grade is 7/10.
Wash-suspect: high reported volume against thin traffic or a low CoinGecko trust score. The site ranks this venue below every clean venue.
| Custody | Custodial |
|---|---|
| KYC | Required |
| Region | Samoa |
| Since | 2019 |
| Website | phemex.com |
| 24-hour volume | $691M |
| Tranco web rank | #17,741 |
| Proof of reserves | Published |
| Reliability ratio (liquidity / Tranco) | 5.6× — volume scored at 1/5.6 (1× = the top-ten norm) |
| Liquidity size (thinner side of the book, ten largest markets, within 2% of mid) | $2M across 9 markets |
| Liquidity / volume | liquidity within 2% of mid is 3.2% of daily volume on its top-10 markets; 0% of that volume sits beyond the book (worst NEAR/USDT at 0.36%, floor 0.13%) — within range · at or above the top-ten norm |
| Data access | Public order book, read directly, covering the ±0.1% band |
| Order-book depth (BTC, 0.1% of mid) | $539,507 within 0.1% of mid |
Figures from the 28 October 2026 build snapshot. Open the live view for the current rankings.
What the ranking counts
Volume is a claim about a past that left no artifact. An order book is a claim about the present the exchange has to have standing there when you look. Tranco web rank is the one number nobody can type: it counts resolvers in the wild, not anything the venue reports. That is why the ranking uses web rank as the anchor and treats a deep book as a permission to keep a position, not a reason to promote one.
Pairs from our own build snapshot (0)
No curated markets are recorded for Phemex on this build. The exchange's own site is the primary place to browse its pair list; the ranking gathers markets by ASSET, so this section fills in as coins Phemex trades appear in the top-N snapshot.