BitMEX vs CoinEx
CoinEx has been running since 2017, and it is one of the smaller venues that still lists coin-margined perpetuals the way BitMEX did. With BitMEX closing on 23 September 2026, that matters to inverse-perp traders. This is the honest, field-by-field breakdown, and I will say up front that we take no affiliate money from CoinEx, so the read below is on merit only.
The short version
CoinEx keeps both linear and inverse perps up to 100x, base fees of 0.030% / 0.050%, and a no-KYC tier good for roughly 10,000 USD a day in withdrawals. It is a solid mid-tier option that holds onto inverse contracts and a generous no-KYC ceiling. The catches are thin liquidity, a 2023 hack on its record, and both US and UK access blocked. For most people leaving BitMEX we still point to a higher-liquidity top pick first.
See our top pickStatus & Access
CoinEx is fully live while BitMEX counts down. The catch on access is geography: CoinEx blocks more markets than most, including both the US and the UK.
| Field | BitMEX | CoinEx |
|---|---|---|
| Operational status | Closing 23 Sep 2026, 04:00 UTC | Active |
| Founded | 2014 | 2017 |
| Registration / legal entity | HDR Global Trading Limited | COINEX TECHNOLOGY LIMITED (Seychelles) |
| US / UK / restricted | US restricted; UK unclear | US and UK restricted; Canada, EU, Switzerland + more |
| KYC levels & no-KYC limit | KYC required; no no-KYC tier | No-KYC to ~$10k/24h, $50k/30d; ID lifts limits |
| Account verification time | Not disclosed | Not disclosed |
Fees
BitMEX charged a flat 0.05% both sides. CoinEx undercuts that on the maker leg and matches it on taker, with only a small drop at the first VIP tier.
| Field | BitMEX | CoinEx |
|---|---|---|
| Futures maker / taker (base) | 0.05% / 0.05% | 0.030% / 0.050% |
| VIP 1 threshold | Not disclosed | Not disclosed |
| VIP 1 maker / taker | Not disclosed | 0.028% / 0.048% |
| Funding frequency | Not disclosed | Every 8 hours |
| Withdrawal fees (BTC/USDT/ETH) | Not disclosed | Not disclosed |
| Native-token discount | None (BMEX not a fee token) | Yes, CET pays lower fees |
| Hidden fees | Not disclosed | Not disclosed |
Products & Contracts
The point that keeps BitMEX loyalists interested: CoinEx runs both USDT-margined and inverse coin-margined perps, so the contract type survives the move.
| Field | BitMEX | CoinEx |
|---|---|---|
| Perpetual markets | Not disclosed | ~200 |
| Inverse / coin-margined perps | Yes (the pioneer) | Yes (linear and inverse) |
| Max leverage BTC / ETH | Up to 100x | 100x / 100x |
| Max leverage alts | Up to 100x | Up to 100x |
| Dated futures | Yes | No |
| Options | No | No |
| TradFi / commodity perps | Yes | No |
| Settlement currency | BTC, USDT + others | USDT and coin (BTC/ETH) |
Liquidity & Scale
This is where CoinEx is weakest for a serious perp trader. BitMEX volume has thinned as it winds down, but CoinEx futures volume sits far below the mid-tier leaders, so slippage on size is a real concern.
| Field | BitMEX | CoinEx |
|---|---|---|
| 24h futures volume | Thin (winding down) | ~$5M-$7M (CoinGecko) |
| Open interest | Not disclosed | ~$5M (CoinGecko) |
| Market rank | Not disclosed | Not disclosed |
| Order-book depth | Not disclosed | Not disclosed |
Margin & Risk
| Field | BitMEX | CoinEx |
|---|---|---|
| Margin modes | Not disclosed | Cross and isolated |
| Insurance / risk fund | Not disclosed | Not disclosed |
| ADL policy | Not disclosed | Not disclosed |
| Max position limits | Not disclosed | Not disclosed |
Security & Transparency
BitMEX has a genuinely clean record here: zero funds lost to hacks since 2014. CoinEx publishes monthly proof of reserves, which is good, but it carries a 2023 breach that you should weigh before funding an account.
| Field | BitMEX | CoinEx |
|---|---|---|
| Proof of Reserves | Yes (published) | Yes, monthly >100% (e.g. ~$528M Jun 2026) |
| Custody partner | Not disclosed | Not disclosed |
| Historical hacks | None since 2014 | 2023 hack: ~$31M-$70M lost |
| Bug bounty / audits | Not disclosed | Not disclosed |
| Cold storage % | Not disclosed | Not disclosed |
Trading Features
| Field | BitMEX | CoinEx |
|---|---|---|
| Copy trading | Not disclosed | Not disclosed |
| Bots / grid / DCA | Not disclosed | Not disclosed |
| API | Yes (well-regarded) | Not disclosed |
| Demo / paper trading | Testnet (historically) | Not disclosed |
| Advanced order types | Yes | Not disclosed |
| Mobile app rating | Not disclosed | Not disclosed |
User Experience & Support
| Field | BitMEX | CoinEx |
|---|---|---|
| UI / UX | Pro, advanced-trader oriented | Not disclosed |
| Support | Not disclosed | Not disclosed |
| Education / testnet | Testnet (historically) | Not disclosed |
| Referral / VIP program | Not disclosed | Not disclosed |
Deposits, Tokens & Migration
| Field | BitMEX | CoinEx |
|---|---|---|
| Min deposit / withdrawal | Not disclosed | Not disclosed |
| Deposit networks | Not disclosed | Not disclosed |
| Fiat on-ramps | Not disclosed | Not disclosed |
| Native token | BMEX | CET (fee discounts) |
| New-user bonus | n/a (closing) | Not disclosed |
Figures checked July 2026 from CoinEx's own materials and public data such as CoinGecko. "Not disclosed" means we could not verify a current figure, not that it is zero. We have no affiliate relationship with CoinEx, so nothing here is paid placement. Confirm live details on coinex.com.
Who should switch from BitMEX to CoinEx
CoinEx fits a specific trader: someone who wants to keep inverse coin-margined perps, values a high no-KYC withdrawal ceiling, and trades modest size where thin order books will not hurt them. On those points it delivers, and the CET token trims fees a little further. The honest caveats are that CoinEx liquidity is a fraction of the leaders, it was hacked in 2023 for tens of millions, and both US and UK traders are locked out. Check your own local law before you sign up anywhere; this is general information, not legal advice. If liquidity and a cleaner security record matter more to you, our top pick, Blofin, is where most BitMEX refugees should look first. For the widest altcoin menu see BitMEX vs MEXC, or for another no-KYC contender compare BitMEX vs XT. CoinEx still earns a spot on our full list of BitMEX alternatives, just not at the top.
Want a stronger option?
CoinEx works, but for liquidity, fees and a cleaner record we rate Blofin ahead of it for traders leaving BitMEX. Set an account up before you withdraw so there is no gap.
Open a Blofin account → See all 19 alternatives
The Blofin link is an affiliate link: if you open an account through it we may earn a commission at no extra cost to you. It never changes our ranking, and we take nothing from CoinEx. How we make money.
BitMEX vs CoinEx FAQ
Is CoinEx a good alternative to BitMEX?
For many traders, yes. You keep both linear and inverse perps up to 100x, get base fees of 0.030% / 0.050%, and a no-KYC tier good for roughly 10,000 USD a day. The trade-offs are thin liquidity, a 2023 hack on record, and both US and UK access blocked.
Does CoinEx require KYC?
Not to start. An unverified account can withdraw around 10,000 USD in 24 hours and 50,000 USD over 30 days. Completing ID verification lifts the daily limit substantially, up to about 1 million USD at higher tiers.
Does CoinEx have inverse perps like BitMEX?
Yes. CoinEx lists both USDT-margined and coin-margined (inverse) perpetuals, with funding settled roughly every 8 hours, so the BitMEX contract structure carries over.
Can US or UK traders use CoinEx?
No. CoinEx restricts the US and the UK, plus Canada, mainland China, Hong Kong, the EU, Switzerland and others. Check your own local rules first; this is not legal advice.
Last checked July 2026. Compare other options: Blofin (our top pick), MEXC (most altcoins), XT (another no-KYC venue), or the full list of BitMEX alternatives.