For any high-volume crypto trader seeking a massive welcome bonus, WhalePortal and Phemex‘s partnership (referral code: H2YHK) delivers an industry-leading offer, enabling new users to claim up to $30,000 in trading bonuses, far above the exchange’s usual promotional rates of $4,800. What makes this collaboration stand out even further is that, far from Phemex’s usual traditional programs, this exclusive WhalePortal referral does not require any KYC.
 

Overview of Phemex’s deposit & trade bonus
 

Phemex’s latest program rewards users for both depositing a significant amount and achieving a target trading volume. To elaborate, once an individual meets the deposit and trade requirements for a given tier, they receive the bonus as USDT credits in their account. 
 

These credits are non-withdrawable but can be used to trade (e.g. as margin or to cover fees). However, any profits earned via trading with the bonus can be kept and withdrawn.
 

The welcome bonus comes in tiered levels, meaning the amount one gets depends on how much they deposit and trade. Here’s a breakdown of the bonus tiers available through this partnership:

 

• $800 USDT Bonus – Deposit $20,000 and trade $300,000 (three hundred thousand USD in volume).
• $5,000 USDT Bonus – Deposit $100,000 and trade $30,000,000 (30 million USD in volume).
• $10,000 USDT Bonus – Deposit $150,000 and trade $60,000,000 (60 million USD in volume). 
• $15,000 USDT Bonus – Deposit $200,000 and trade $90,000,000 (90 million USD in volume).
• $20,000 USDT Bonus – Deposit $300,000 and trade $120,000,000 (120 million USD in volume).
• $30,000 USDT Bonus – Deposit $400,000 and trade $180,000,000 (180 million USD in volume).

 

It goes without saying that these tiers are mutually exclusive, meaning that an individual can only claim one bonus at a time (which is the highest tier fulfilled). Also, the rewards are non-stackable, i.e. a person can't get $800 as well as $5,000 if they hit the second tier (they instead only receive the latter). Lastly, all bonus amounts are credited in USDT.

 

Another point to remember is that each tier has two components, i.e. a deposit minimum and a trading volume target, and both must be met to unlock that tier’s bonus. For example, to get the $10k bonus, a person needs to deposit at least $150k and execute $60M worth of trades. 

 

If they deposit enough but don’t trade enough (or vice versa), the tier won’t unlock. In other words, the trader’s cumulative trading volume is counted. Typically, derivatives trades (futures/perpetual contracts) count towards this volume most effectively, since they allow larger position sizes (and Phemex offers up to 100× leverage on futures). Spot volumes count as well.

 

Only trades made after enrolling in the bonus program (with referral code applied) count.

 

How to claim Phemex’s bonus. A step-by-step guide
 

Earning this bonus might seem complex, but it’s straightforward if one breaks it down into five simple steps.  

Step 1: Sign up using WhalePortal’s Referral

A new Phemex account must be registered using WhalePortal’s affiliate link or referral code (H2YHK). 
 

Exclusive Advantage: Unlike Phemex’s standard welcome package, which usually requires identity verification, this WhalePortal referral does not require KYC to access the bonus. Traders can begin depositing and trading immediately, streamlining the onboarding process.
 

Step 2: Join the Bonus Promotion 

Once the account is created, users should log in and navigate to the “Rewards Hub” under the promotions menu. Because the WhalePortal referral code was used, the exclusive deposit-and-trade bonus offer will be visible immediately. 

 

 

Clicking “Join” or “Activate” ensures enrollment. After joining, deposit and trading requirements will be tracked, and progress toward the targeted tier can be monitored directly in the hub.

 

Step 3: Make the Required Deposit

At this stage, traders should decide which bonus tier to target and deposit the corresponding amount into their account. For example, to qualify for a $5,000 bonus, a deposit of $100,000 or more is required. Deposits can be made in USDT or other supported cryptocurrencies/fiat. 
 

Larger, fewer deposits are often recommended to clearly meet requirements.

It is important that the deposit amount remains in the account for the duration of the promotion and withdrawing funds prematurely can void eligibility. 

 

Step 4: Trade to Meet the Volume Target 

As highlighted earlier, the second requirement is achieving the designated trading volume. Traders can accumulate this volume through either spot or futures markets, though most high-volume participants prefer perpetual futures given the leverage available. Both buy and sell trades count toward cumulative volume. 

 

For instance, ten round-trip trades of $3M each would equal $30M in volume. Because costs add up at high turnover, traders should be mindful of fees and market conditions, focusing on efficiency (e.g., using limit orders when possible). Progress toward the bonus can be monitored in real time through the Rewards Hub.

 

Step 5: Claim the Bonus

Once the deposit and trading requirements are both met, Phemex will confirm eligibility and credit the corresponding bonus to the account. The bonus is applied automatically to the “Bonus” balance (in USDT) under the derivatives account.  

 

Phemex’s trading fees explained
 

Before traders start pushing millions in volume, it’s important to understand Phemex’s trading fee structure and how it affects their trading.  
 

(i) Spot Trading Fees: Phemex charges a flat 0.10% fee for both maker and taker orders on spot markets (for base tier users). This means whether one places a limit order that adds liquidity (maker) or executes a market order that takes liquidity (taker), they have to pay 0.1% of the trade value as a fee. For example, a $10,000 spot trade would incur a $10 fee. 
 

0.1% is in line with many top exchanges and can be reduced if a trader achieves VIP status or uses Phemex’s native token (PT) for discounts. 

(ii) Futures (Perpetual Contracts) Fees: Phemex’s derivatives fees are even lower. Maker orders on futures pay just 0.01%, and Taker orders pay 0.06% at the base level. In fact, makers receive such a low fee that it’s effectively near zero, and high-volume traders who become VIPs can eventually get maker fees down to 0%. 

 

Taker fees (0.06%) are also competitive (e.g., on $1,000,000 volume, a taker trade costs $600). Using limit orders that rest on the order book (maker) whenever possible can dramatically lower costs.

 

Fees can be further reduced as Phemex’s VIP program offers tiered fee discounts based on 30-day volume or holding Phemex Token for fee rebates. For instance, at the highest VIP tier, futures fees drop to 0% maker / 0.03% take. 
 

But even without VIP, 0.06% taker is below the industry average (as many exchanges charge ~0.075% or more). 
 

(iii) Other Fees: Depositing crypto on Phemex is free (no deposit fee), and withdrawal fees depend on the coin’s network fee (e.g., around 0.0005 BTC for Bitcoin). Lastly, by staking Phemex’s native PT token, individuals can get an additional 20% off spot trading fees and 10% off contract (futures) fees, on top of any VIP discounts.

 

 

Trading Fees Calculated
 

Achieving one’s trading volume targets incurs fees that can eat into the bonus being received. For each bonus tier, the trading fee is calculated as 0.06% of the required trading volume.  
 

As one can see below, for the smallest tier ($800 bonus for $300k volume), the bonus outweighs the fees, but for larger tiers the required fees grow dramatically, often far exceeding the bonus reward.

 

VIP discounts on trading fees
 

While the base taker fee on Phemex futures is 0.06%, the exchange also runs a VIP program for high-volume traders. As an individual’s 30-day trading volume (or average account balance) grows, their fee rate automatically drops. This can make a noticeable difference when chasing higher bonus tiers.
 

Here’s a simplified look at how taker fees decrease across levels:

 

• VIP 0 (default): 0.060%
• VIP 1: 0.055%
• VIP 2: 0.050%
• VIP 3: 0.045%
• VIP 4: 0.0375%
• VIP 5: 0.035%
• Star VIP: 0.030%
   

What this means in practice is that the same trading volume costs less at higher VIP levels. For example, at the $30,000 bonus tier (requiring $180 million in trades):

 

• At VIP 0 (0.06%), fees are about $108,000.
• At VIP 3 (0.045%), fees drop to $81,000.
• At Star VIP (0.03%), they fall further to $54,000.
   

Even with these discounts, the larger tiers still involve paying more in fees than the bonus reward itself. However, the gap becomes significantly smaller. In other words, the higher one’s VIP level, the more the bonus works like a partial fee rebate, softening the cost of trading at very high volumes.

How Phemex’s bonus stacks up against other exchanges

While many crypto exchanges offer welcome bonuses, WhalePortal’s Phemex offer is among the most generous. For reference sake, Bybit’s referral-bonus programs also allow up to around $30,000 USDT in rewards, but their top tiers require smaller volumes .
 

Another point of comparison is qualification as smaller bonuses are common elsewhere for modest deposits or first trades, but Phemex’s lower tiers (e.g. $20,000 deposit + $300,000 trade) offer good value even though they’re not “light.” 
 

Fees also matter and in this regard, Phemex’s futures maker/taker fees are among the lowest for high-volume traders, which means users keep more of the profits needed to reach your trading volume targets.

 

Conclusion

Viewed objectively, the WhalePortal × Phemex partnership represents one of the most substantial welcome bonuses currently available in the market, designed to attract serious traders prepared to commit significant capital. With up to $30,000 USDT in trading credits on offer, the program provides newcomers with a considerable starting bankroll from the very first day of trading.
 

For eligible participants, registering through WhalePortal, completing the outlined steps, and claiming the bonus opens the door to enhanced trading capacity and greater profit potential.  

 

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