Vibration characterization of rotating machinery is crucial for determining rotational and failure frequencies. Traditional contact measurement methods have limitations, while high-speed cameras offer a non-contact alternative for measuring target vibrations, spatial phase-based techniques have recently been widely used in detecting subtle vibrations and show good robustness to imaging noise. In this paper, a vision-based vibration extraction method for rotating machinery is proposed, aiming at extracting minor vibrations of bearings from them and further analyzing their fault frequencies. To address the challenge of separating a single fault frequency from the extracted compound faulty vibration signals, kurtosis is employed to analyze the inverse convolution period of multiple periodic components, and the MOMEDA filter length is optimized using the golden section algorithm. MOMEDA is then used to enhance each periodic pulse separately, and fault frequency is obtained through envelope spectrum demodulation. In the experimental part, a phase-based method is used to extract minor vibration displacements from rotor vibration video, which is subsequently compared with eddy current sensors in both time and frequency domains to verify the accuracy of the proposed method in extracting vibration displacements based on vision. Finally, vibration signals are extracted from the bearing compound fault video, and the single fault frequency characteristics of the bearing are successfully separated using the adaptive MOMEDA method, which provides an efficient and reliable method in the field of rotating machinery fault diagnosis.