Phemex Futures for Beginners: What to Know

Phemex is another exchange validated for Multi Arbitrage’s automated trading, and one of the first to be integrated. If you plan to use it with a bot, these are the points that help most.

Preparing the account

1. Go to the official website through the referral link and create the account with email or phone.
2. Turn on 2FA and the anti-phishing code before depositing.
3. Complete identity verification (KYC) if Phemex requires it for futures and withdrawals.
4. Transfer USDT to the account’s futures wallet (sometimes you need to move it from the spot balance).
5. Enable the margin mode you want (isolated or cross) and check the position mode.
6. Create the API key without withdrawals, add it to the system and run the order test.

What is specific to Phemex

• Position mode: Phemex offers different position modes. In one of them (merged), buys and sells offset each other on the same coin. This matters because the bot needs to know how to open and close positions.
• Conditional orders: the stops and targets of the insurance orders use conditional orders triggered by mark price, which are stored on the exchange. See mark price and liquidation.
• Order list: when there is no active conditional order, the API response may come back different from what you expect. The system already handles this.
• Minimum size and price steps: each coin has its own minimum size and increments.

Multi Arbitrage handles these details, but knowing them helps you understand what you see on the exchange’s screen.

Security precautions

Create the key with read and trade access only (guide), use IP restriction if available and keep 2FA turned on.

Opening an account through the referral

If you would like to open the account through our link, use Open a Phemex account. The terms are set by the exchange. Then add the key on the dashboard and start with a small trade to validate the process.

Common mistakes

• Not checking the position mode before trading.
• Forgetting to save the API secret when creating the key.
• Expecting the same behavior as another exchange: each one has its own rules.
• Using a very small coin with no volume.

The first week

Make only a few trades, note the result of each one (funding rate, fees, spread) and compare it with what the dashboard records. Understanding these differences avoids surprises when you increase the amount.

Frequently asked questions

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Multi Arbitrage TeamInformational content about crypto arbitrage and futures. Not investment advice.