GMX Review
Perpetual DEXes · Official site ↗
Multi-chain perp DEX with GLP liquidity pool — V2 concentrated
Best for: Users willing to take on market-maker risk for trading-fee-backed LP yield
Risk Assessment
Established multi-chain perp DEX with audited contracts. GLP holders bear tail risk during volatility.
Fees
| Swap | 0.1% |
| Margin Trading | 0.05% |
| Affiliate Discount | 5% via ref code (e.g. FOMO) |
Strengths
- ✓GLP pool provides LP yield from trading fees
- ✓Multi-chain presence (Arbitrum/Avalanche/Polygon)
- ✓Referral codes give 5% discount to traders
- ✓V2 introduces concentrated liquidity
Weaknesses & Risks
- !GLP holders face tail risk during extreme volatility
- !Lower volume than dYdX v4 / Hyperliquid
- !V2 complexity may slow adoption
GMX FAQ
What is GMX?
GMX is a perpetual dexes founded in 2021 on arbitrum, avalanche, polygon. Multi-chain perp DEX with GLP liquidity pool — V2 concentrated
What APY can I earn on GMX?
Current yields typically range from 8% to 30% APY, with a typical rate around 18%. APY varies with market conditions, utilization and token emissions — always verify live rates before depositing.
Is GMX safe?
DifiCalc risk grade: B+. Established multi-chain perp DEX with audited contracts. GLP holders bear tail risk during volatility. Audits: PeckShield, OpenZeppelin. As with all DeFi, smart-contract and market risk remains — never deposit more than you can afford to lose.
What fees does GMX charge?
Swap: 0.1%. Margin Trading: 0.05%. Affiliate Discount: 5% via ref code (e.g. FOMO).
Run the numbers yourself
Model a real GMX position with our free yield calculator — no signup.
Information last reviewed in 2026. APY figures are indicative ranges from protocol data and may differ from live rates. This page is for informational purposes only and is not financial advice.