Phemex, a user-first crypto exchange, has announced a major upgrade to its Retail Price Improvement (RPI) order system. By deepening strategic ties with top-tier institutional liquidity partners, the enhanced RPI ecosystem now delivers market-leading depth that significantly outperforms industry benchmarks.
Latest data from a comprehensive market audit conducted in late 2025 reveals that the RPI upgrade has triggered a massive surge in liquidity across Phemex’s core assets. Based on internal comparative research of public order book depth (±0.1% from mid-price) relative to top-tier exchange averages:
- BTCUSDT: Liquidity depth is now 2x the standard industry benchmark.
- ETHUSDT: Liquidity has reached a staggering 5x the average market liquidity.
- SOLUSDT: Liquidity has climbed to 5.5x compared to high-performance market standards.
- Top 12 Trading Pairs: Aggregate liquidity consistently tracks at 3x the baseline of top-tier exchange requirements.
RPI orders are specifically engineered as Maker orders for retail customers (non-API manual traders). This upgrade ensures a much denser order book and more aggressive pricing, narrowing spreads and providing “price improvement” that often exceeds the visible order book.
By ensuring that RPI orders interact exclusively with the retail maker liquidity — effectively bypassing high-frequency API algorithms — Phemex’s upgraded RPI has allowed the platform to maintain a competitive edge in liquidity across more than 210 trading pairs. This reinforces Phemex’s commitment to providing a transparent and high-performance environment where retail users can trade with the same precision and execution quality as institutional giants.
