GMX
Decentralized spot and perpetual exchange on Arbitrum, Avalanche and MegaETH that trades against liquidity pools.
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GMX key facts
| Category | Derivatives exchange |
|---|---|
| Chains | Arbitrum, Avalanche, MegaETH |
| Platforms | Web, API |
| Custody | Non-custodial |
| Fees | 0.04% or 0.06% of position size to open or close |
| Chains | Arbitrum, Avalanche, MegaETH |
| Security audits | Guardian (primary) and other firms, reports on GitHub |
What is GMX?
GMX is a decentralized spot and perpetual exchange on Arbitrum, Avalanche and MegaETH with up to 100x leverage. Trades fill against GM and GLV liquidity pools at Chainlink oracle prices, not an order book. The position fee is 0.04% or 0.06% of size, depending on whether the trade balances long and short open interest.
GMX usage
From DefiLlama (TVL) (fees users paid), updated Sep 26, 2026.
GMX pros and cons
- Position fee of 0.04% when a trade reduces open-interest imbalance
- Oracle pricing avoids liquidations on brief spread spikes
- Liquidity providers earn 63% of fees on Arbitrum and Avalanche
- 0.06% position fee when a trade adds to the imbalance
- Borrowing and funding fees add to holding costs
- Price impact applies on large orders
GMX FAQ
What is GMX?
GMX is a decentralized spot and perpetual exchange on Arbitrum, Avalanche and MegaETH with up to 100x leverage. Trades fill against GM and GLV liquidity pools at Chainlink oracle prices, not an order book. The position fee is 0.04% or 0.06% of size, depending on whether the trade balances long and short open interest.
How much value is locked in GMX?
$244.6M according to DefiLlama on Sep 26, 2026. It is deployed on 5 chains: Arbitrum, Avalanche, MegaETH, Botanix, Solana.
How much does GMX cost?
0.04% or 0.06% of position size to open or close, according to GMX’s own page (checked Sep 26, 2026).
How much do users pay GMX in fees?
$4.4M over the last 30 days, according to DefiLlama on Sep 26, 2026.
Does GMX hold my funds?
No. GMX is non-custodial: you keep your funds in your own wallet and sign each transaction.
Sources
How this page works
Sources: GMX: official site, GMX: Docs, Fees, GMX: Docs. Data as of Sep 26, 2026.
Not affiliated with any project listed. Educational content, not financial advice.