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The coherent-dispersion spectrometer (CODES) is a new exoplanet detection instrument using the radial velocity (RV) method. This attempts mainly to improve environmental sensitivity and energy utilization by using an asymmetric, common-path Sagnac interferometer instead of a traditional Michelson interferometer. In order to verify its feasibility and to choose the appropriate key parameters to obtain the optimal performance, research on data processing for the design stage of the CODES is performed by systematic simulation and analysis. First, the instrument modelling is carried out for further data analysis according to the principle of the CODES, and the reliability of the model is verified by experiments. Second, the influence of key parameters on fringe visibility is analysed systematically, which provides a certain reference for the choice of the key parameters. Third, the RV inversion method for the CODES is proposed and optimized according to the related analysis results so as to promote RV inversion precision. Finally, the recommended values for the key parameters of the CODES are given. The experimental results show that the data processing error of RV inversion is less than 0.6 m s–1 within the recommended range of key parameters. This indicates that the scheme of the CODES is reasonable and feasible, and that the proposed data processing method is effective and well matched with the instrument design.