A phase-sensitive optical time-domain reflectometry (∅-OTDR) implements distributed acoustic sensing (DAS) due to its ability for high sensitivity vibration measurement. Phase information of acoustic vibration events can be acquired by interrogation of the vibration-induced phase change between coherent Rayleigh scattering light from two points of the sensing fiber. And DAS can be realized when applying phase generated carrier (PGC) algorithm to the whole sensing fiber while the sensing fiber is transformed into a series of virtual sensing channels. Minimum detectable vibration of a ∅-OTDR is limited by phase noise level. In this paper, nonuniform distribution of phase noise of virtual sensing channels in a ∅-OTDR is investigated theoretically and experimentally. Correspondence between the intensity of Rayleigh scattering light and interference fading as well as polarization fading is analyzed considering inner interference of coherent Rayleigh light scattered from a multitude of scatters within pulse duration, and intensity noise related to the intensity of Rayleigh scattering light can be converted to phase noise while measuring vibration-induced phase change. Experiments are performed and the results confirm the predictions of the theoretical analysis. This study is essential for acquiring insight into nonuniformity of phase noise in DAS based on a ∅-OTDR, and would put forward some feasible methods to eliminate the effect of interference fading and polarization fading and optimize the minimum detectable vibration of a ∅-OTDR.