LBank
PhemexIn short: the difference
What LBank is: the place where new coins show up first. On the market since 2015, jurisdiction: British Virgin Islands, its own LBK token.
What Phemex is: an exchange with a strong futures side. On the market since 2019, jurisdiction: Samoa.
What LBank gives you
Next to a derivatives terminal, LBank answers with something else: One of the elder Asian venues, running since 2015. Eight hundred and thirty perpetuals and a broad P2P across dozens of currencies — stronger than many of its contemporaries on both counts. There is savings, staking and its own LBK token. The exchange is known for early listings: new coins land here before the majors.
Strong sides: 830 perpetuals, a broad P2P, early listings, running since 2015.
What Phemex gives you
Early listings are not the only argument; Phemex answers with its own: 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
- Age. LBank has run since 2015, Phemex since 2019 — a gap of 4 years. It guarantees nothing on its own, but the older venue has been through more market cycles.
- Jurisdiction. LBank sits in British Virgin Islands, Phemex in Samoa. It shapes both the checks you pass and what the venue has to disclose.
- Native token. LBK on LBank cuts fees and opens launches; Phemex has no such lever.
- Strengths side by side. LBank: 830 perpetuals, a broad P2P, early listings, running since 2015; Phemex: an even book, open data, the funding interval stated per contract.
- Which job. LBank is for funding, P2P and finding fresh coins, while Phemex is as an additional venue in cross-exchange routes and funding.
- Worth remembering. LBank: we do not show it in cross-exchange spot arbitrage: it serves its book one pair per request. Phemex: a narrow listing next to the Asian venues.
Which one fits you
LBank — for funding, P2P and finding fresh coins.
Phemex — as an additional venue in cross-exchange routes and funding.
What people ask most
LBank: Why look at LBank when the large exchanges exist? For early listings of small coins, which often appear here first. The trade-off is a thin book, so entering with size is risky.
LBank: How do I fund an LBank account? Through the deposit section of your account: pick the coin and network and send to the address shown. Some coins have several networks, each with its own address — sending on the wrong one means losing the funds.
LBank: Why can’t I withdraw coins bought on P2P right away? The exchange holds them for twenty-four hours after the order completes, protecting against payment reversal. The clock starts when the order closes. For arbitrage that is decisive: the spread will be gone within a day.
Phemex: What is the funding interval on Phemex? Eight hours on most contracts, and the exchange states it per contract, so there is no guessing. Our funding section annualises from the real interval.
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: Does Phemex have its own token? No, it has no exchange token.
Both at once
Most people end up keeping both: one for daily trades, the other for what the first one lacks. The coin is bought where it already trades, moved across and shorted with a contract on the other — that locks the price while the transfer runs.
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. LBank and Phemex can be compared on facts rather than promises.
What the numbers say
The futures list runs longer on LBank: 833, against 123. Our scanner reads P2P on LBank only — 89 currencies.
Snapshot from 30 September 2026; on the page the figures refresh on every visit.
