GMX DEX profile
Editorial record: June 1, 2026
Type
hybrid
Swap Fee
0.25%
Trading Pairs
30+
Source status
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Risk Disclaimer
Cryptocurrency trading and investing involve a substantial risk of loss. Prices can change significantly in a short period, and you can lose some or all of your invested capital. This page gives information and does not give financial, investment, or legal advice. Check current provider terms and assess your risk before you make a financial decision. InsideCryptoReview can earn a commission from an affiliate link. A provider cannot approve or change our editorial copy. Past performance does not guarantee future results. Invest only an amount that you can afford to lose.
Editorial desk producing public-source crypto product research. Pages identify their evidence and limitations; hands-on testing is claimed only when dated evidence is shown.
Last Updated: June 1, 2026
Our MethodologyOverview
GMX is a decentralized perpetual futures exchange that uses pooled liquidity and oracle-based pricing. The protocol supports leveraged crypto markets and has a governance token. Oracle configuration, liquidity, funding, and leverage can affect a trade result. Review the current contracts and risk disclosures before trading.
Profile summary
Decentralized perpetual exchange with up to 100x leverage
Fees & Costs
| Swap Fee | 0.25% |
| Protocol Fee | 0.1% |
| Gas Estimate | $0.50-2 |
Security & Audits
| Audits | ABDK Consulting, Quantstamp, Guardian Audits |
| Open Source | ✓ Yes |
| Bug Bounty | ✓ $1,000,000 |
Features
Supported Chains
| Limit Orders | ✓ Yes |
| Perpetuals | ✓ Yes |
| Cross-Chain | ✗ No |
| Lending | ✗ No |
| Farming | ✓ Yes |
| Staking | ✓ Yes |
Pros & Cons of GMX
Pros of GMX
- ✓Zero price impact trades through Chainlink oracles
- ✓Up to 100x leverage on major cryptocurrencies
- ✓30% of platform fees shared with GMX stakers
- ✓Very low fees on Arbitrum (typically under $2)
- ✓Battle-tested since 2021 with three audits and $1M bug bounty
Cons of GMX
- ✗Limited to only 2 chains (Arbitrum and Avalanche)
- ✗Fewer trading pairs compared to spot DEXs
- ✗GLP holders take on counterparty risk from leveraged traders
GLP (GMX Liquidity Provider) is the liquidity pool token representing a basket of assets used for swaps and leverage trading. GLP consists of ~50% stablecoins (USDC, USDT, DAI) and ~50% volatile assets (ETH, BTC, etc.). When you mint GLP, you deposit assets and receive GLP tokens. GLP holders earn 70% of all platform fees and act as the counterparty to leveraged traders - earning when traders lose and vice versa.
GMX uses Chainlink price feeds for supported assets. Trade size does not create an AMM-curve price impact when sufficient pool liquidity is available. A trade can be limited or rejected when available liquidity is insufficient.
GLP holders face counterparty risk: when leveraged traders profit, those gains come from the GLP pool. In a strong trending market where many traders are profitable, GLP can underperform. GLP also has exposure to the underlying assets (BTC, ETH, etc.), so you face price risk. Historically, fees earned have exceeded trader profits over long periods, but past performance doesn't guarantee future results.
GMX contracts are audited by ABDK Consulting, Quantstamp, and Guardian Audits, with a $1M bug bounty. The protocol has operated since 2021 without major exploits. However, leveraged trading itself is inherently risky. Positions can be liquidated if the market moves against you. Use stop-losses, start with low leverage, and never risk more than you can afford to lose.
dYdX, Hyperliquid, and Gains Network use different perpetual-trading models. Compare market availability, execution, margin rules, and fees at trade time. Uniswap and Camelot are separate options for spot swaps on Arbitrum.
GMX offer details
Check current terms, eligibility, and availability before you use an offer.
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When to skip GMX
Skip GMX if you cannot verify its contracts, network costs, and asset liquidity before you trade.
Sources & References
Market Data
Security
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Risk Disclaimer
Cryptocurrency trading and investing involve a substantial risk of loss. Prices can change significantly in a short period, and you can lose some or all of your invested capital. This page gives information and does not give financial, investment, or legal advice. Check current provider terms and assess your risk before you make a financial decision. InsideCryptoReview can earn a commission from an affiliate link. A provider cannot approve or change our editorial copy. Past performance does not guarantee future results. Invest only an amount that you can afford to lose.
