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Backpack vs Phemex
Compare rates, fees, access, and key features side by side.
Backpack
Quick takeBackpack offers exchange-based lending and Solana earning products with terms that depend on the asset. Its strongest feature is Auto-Lend, ...
Score3.9Our editors score every platform independently. Partnerships never influence the rating.
VS
Phemex
Quick takePhemex offers Flexible Savings and a separate lending pool where supplied assets earn interest from borrowers. Flexible Savings can be redee...
Score4.3
Trading costs and documented exchange features
Spot fee estimates use CIR’s tracked maker/taker data. Funding, spread, slippage and withdrawal charges are additional. Simple buys and recurring orders may use different pricing.
| Compare | Backpack | Phemex |
|---|---|---|
| $25 spot taker order | Not verified | $0.025 |
| $100 spot taker order | Not verified | $0.10 |
| $500 spot taker order | Not verified | $0.50 |
| Fee schedule | No verified spot schedule | Phemex spot |
“Not verified” means CIR has no current evidence for this comparison, not that the exchange lacks the feature.
Explore exchange rankings by use case →
General
Platform
Backpack
Phemex
Founded
Backpack2022
Phemex2019
Headquarters
BackpackTokyo, Japan
PhemexSingapore
Availability
BackpackWorldwide (lending unavailable in US, a few states restricted)
PhemexRestricted in the U.S., UK, Australia and other listed jurisdictions; Canadian restrictions include Ontario, Quebec, Alberta and Saskatchewan.
Fees & Financial
Bonus
Backpack
Phemex$20 bonus
Token
Backpack
Phemex
Compounding
BackpackYes
PhemexNo
Payouts
Backpack
Phemex
Fees
Backpack
Phemex
Lockup
BackpackUnbonding period applies
Phemex
Maker Fee
Backpack0.08
Phemex0.1
Taker Fee
Backpack0.1
Phemex0.1
Cryptocurrency Rates
BTC Rate
Backpack0.02%
Phemex1%
BTC Max
Backpack
Phemex3%
ETH Rate
Backpack0.13%
Phemex1.5%
ETH Max
Backpack
Phemex3%
Stablecoin Rate
Backpack
Phemex2%
Backpack
ReviewPros
- Auto-Lend can allocate supported idle balances without repeated manual subscriptions.
- SOL returns can include validator, block, and Jito MEV rewards.
- A balance threshold can keep part of an eligible asset outside Auto-Lend.
Cons
- Exchange lending is unavailable to U.S. customers and may have other regional limits.
- Lending rates change with pool demand and are not guaranteed.
- Backpack USD is an internal unit that cannot be withdrawn directly.
Phemex
ReviewPros
- Flexible Savings permits redemption without a lockups
- Auto-Transfer can allocate eligible idle balances automatically
Cons
- KYC is required
- Phemex does not serve U.S. customers
