GMX fees and referral overview
Arbitrum, Avalanche · Pool / oracle · Last checked October 22, 2026
What is GMX?
GMX is a leading pool / oracle PERP DEX that started on Arbitrum. Instead of an order book, trades fill against GM liquidity pools at oracle prices, so there is no order book slippage, and you can trade traditional assets like stocks and commodities 24/7. The trade-off is borrow fees on positions you hold for a long time.
| Chain / settlement | Arbitrum, Avalanche |
|---|---|
| Trading model | Pool / oracle — Trades against GM and GLV liquidity pools, filled at oracle prices |
| Base fees | Maker 0.04% · Taker 0.06% (As a pool model, it charges open/close fees instead of maker/taker: 0.04% for trades that balance open interest, 0.06% for trades that add to the imbalance. Price impact, borrow fees and funding are extra) |
| Referral benefit | 5% off fees (Up to 10% depending on referrer tier) |
| Referral code | hub |
| Max leverage | Up to 100x |
| Markets | About 129 on Arbitrum |
| Collateral | The market's long and short tokens (ETH, BTC, USDC, USDT, etc.) |
| How to deposit | Trade straight from your Arbitrum or Avalanche wallet (GMX accounts also support deposits from Ethereum, Base and BNB) |
| Identity verification (KYC) | You connect a wallet, so there is no identity verification at sign-up |
| Token | GMX |
| Points / airdrop | No trader points |
| Trading volume | 24h about $1.6B (including GMTrade on Solana), 30d about $28.8B — CoinGecko, DefiLlama, 2026-10-22 |
Features
- No order book slippage thanks to oracle-price fills
- Up to 100x leverage
- 24/7 trading on traditional asset (TradFi) markets
- Earn yield by providing liquidity to GM and GLV pools
Things to watch
- July 2025 hack of the GMX v1 GLP (about $42M; v2 unaffected; funds returned after a bounty)
- Price impact and borrow fees add up on large or long-held positions
- Requires ETH for gas
How to get started on GMX
- Set up an EVM wallet (MetaMask, Rabby, etc.) and keep a little ETH on Arbitrum for gas.
- Trade straight from your Arbitrum or Avalanche wallet (GMX accounts also support deposits from Ethereum, Base and BNB)
- Click 'Sign up' on this page and connect your wallet. If you see a referral code field, paste hub.
- Once your deposit arrives, set low leverage and start trading with a stop-loss order.
Sources: Fees · Referral program · Overview
Compare with other PERP DEXs
| Exchange | Chain | Maker | Taker | Referral benefit |
|---|---|---|---|---|
| GMX | Arbitrum, Avalanche | 0.04% | 0.06% | 5% off · Up to 10% depending on referrer tier |
| Hyperliquid | Own L1 | 0.015% | 0.045% | 4% off · On your first $25M of volume |
| Lighter | Ethereum ZK rollup | 0% | 0% | 10% off · Weekly rebate on paid (Premium) account fees |
| Aster | Aster Chain | 0% | 0.04% | 5% off · Referral code fee rebate |
| RISEx | RISE Chain | 0.01% | 0.03% | Invite access · Gated mainnet, invite required |
GMX FAQ
What are GMX's fees?
GMX's base-tier perpetual futures fees are maker 0.04% and taker 0.06%. As a pool model, it charges open/close fees instead of maker/taker: 0.04% for trades that balance open interest, 0.06% for trades that add to the imbalance. Price impact, borrow fees and funding are extra. Sign up with a referral code and you get 5% off, bringing fees to maker 0.038% and taker 0.057%.
What is the GMX referral code benefit?
5% off fees (Up to 10% depending on referrer tier). Tier 1 codes give 5% off open/close fees; tier 2 and 3 codes give 10% off.
Does GMX require KYC (identity verification)?
You connect a wallet, so there is no identity verification at sign-up.
How do I deposit on GMX?
Trade straight from your Arbitrum or Avalanche wallet (GMX accounts also support deposits from Ethereum, Base and BNB).