The relationship model of information embedding rate and visual perception threshold was constructed in this paper, then the Weber′ s law and image saliency theory was applied to study the influence of the information embedding rate on imperceptibility and saliency of anti-counterfeit. Among various host images with different characteristics, the hiding and extraction of anti-counterfeit logo was implemented in range (0, 0.50] with step 0.05. The imperceptibility which resulted from the hiding process can be evaluated by WSNR and CISI indexes. The Ti and Fi indexes were applied to analyze the outcome of extraction process. The latent image information embedding rate was negatively related to the imperceptibility while positively related to the saliency. During the hiding and extraction process of latent image, the bright image with complex texture acted best on both imperceptibility and saliency. The information embedding rate ranged from 0.18 to 0.41, indicating that the theoretical analysis was correct. The embedding rate was applicable to most grating anti-counterfeiting technology based on phase modulation.