Ask about GMX · freeTotal Value Locked$212.63m
TVL by Chain
Arbitrum$181.54m
Solana$22.51m
Avalanche$8.36m
MegaETH$231,016
Botanix$0
Key Metrics
Fees 30d$4.51m
Fees 30d by chain
Solana$3.1m
Arbitrum$1.32m
Avalanche$86,172
MegaETH$21.62
Fees 7d$851,915
Solana$483,161
Arbitrum$349,796
Avalanche$18,950
MegaETH$6.52
Fees 24h$128,104
Arbitrum$67,772
Solana$55,376
Avalanche$4,955
MegaETH$0.96
Cumulative Fees$494.6m
Arbitrum$385.51m
Avalanche$82.83m
Solana$26.24m
MegaETH$18,410
Revenue 30d$3.58m
Revenue 30d by chain
Solana$3.07m
Arbitrum$480,783
Avalanche$31,212
MegaETH$8.54
Revenue 7d$605,162
Solana$478,329
Arbitrum$120,473
Avalanche$6,358
MegaETH$2.94
Revenue 24h$80,622
Solana$54,822
Arbitrum$24,037
Avalanche$1,763
MegaETH$0.48
Cumulative Revenue$164.09m
Arbitrum$126.49m
Avalanche$25.61m
Solana$11.98m
MegaETH$6,811
Holders Revenue 30d$3.42m
Holders Revenue 30d by chain
Solana$3.04m
Arbitrum$350,845
Avalanche$22,782
MegaETH$6.26
Holders Revenue 7d$569,434
Solana$476,878
Arbitrum$87,913
Avalanche$4,643
MegaETH$2.16
Holders Revenue 24h$73,651
Solana$54,822
Arbitrum$17,542
Avalanche$1,287
MegaETH$0.35
Cumulative Holders Revenue$141.75m
Arbitrum$111m
Avalanche$24.52m
Solana$6.23m
MegaETH$4,970
Incentives 1y$261,966
Incentives 30d$32,999
Incentives 7d$5,222
Incentives 24h$0
Cumulative Incentives$40.19m
Earnings (Annualized)$20.3m
Earnings 30d$3.54m
Earnings 7d$599,940
Earnings 24h$80,622
Cumulative Earnings$123.89m
DEX Volume 30d$55.35m
DEX Volume 30d by chain
Arbitrum$54.59m
Avalanche$757,888
MegaETH$70.60
DEX Volume 7d$16.77m
Arbitrum$16.66m
Avalanche$110,457
MegaETH$8.21
DEX Volume 24h$3.21m
Arbitrum$3.2m
Avalanche$7,749
MegaETH$0.13
Cumulative DEX Volume$23.297b
Arbitrum$17.732b
Avalanche$5.378b
Solana$185.46m
Botanix$863,503
MegaETH$121,133
Perp Volume 30d$22.083b
Perp Volume 30d by chain
Solana$20.205b
Arbitrum$1.782b
Avalanche$95.79m
MegaETH$25,058
Perp Volume 7d$3.128b
Solana$2.677b
Arbitrum$435.19m
Avalanche$16.56m
MegaETH$8,158
Perp Volume 24h$295.9m
Solana$226.46m
Arbitrum$66.93m
Avalanche$2.51m
MegaETH$1,893
Cumulative Perp Volume$541.28b
Arbitrum$309.426b
Solana$202.323b
Avalanche$29.499b
MegaETH$26.81m
Botanix$6.04m
Open Interest$195.92m
Market Cap$79.25m
$GMX Price$7.39
Fully Diluted Valuation$79.25m
Outstanding FDV$97.86m
$GMX Volume 24h$3.48m
CEX Volume$1.93m
DEX Volume$1.72m(49.41% of total)
Staked$39.37m(49.67% of mcap)
Treasury$23.27m
Majors$8.35m
Stablecoins$8.7m
Own Tokens$2.23m
Others$4m
Protocol Information
GMX is a leading onchain exchange for perpetual and spot trading, offering deep liquidity, low fees, multi-chain support, and seamless one-click trading. Powered by isolated and multi-asset pools, the permissionless DEX enables anybody to provide liquidity and integrates with 80+ DeFi projects across Arbitrum, Avalanche, and Solana.
- GMX EVMDerivatives
- GMX SolanaDerivatives
- GMX V1 EVMDerivatives
- GMX V1 AMMDexs
- GMX AMMDexs
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
DEX Volume: Volume of all spot token swaps on the DEX
Perp Volume: Notional volume of all trades including leverage on the perp exchange
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Yields
Pools Tracked212
Average Supply APY6.58%
Largest Pools by TVL
GMArbitrum$53.03m
GMArbitrum$42.69m
GMArbitrum$11.78m
GMArbitrum$8.2m
GMArbitrum$7.98m
All pools above $1m (24)
- GM (Arbitrum)
- GM (Arbitrum)
- GM (Arbitrum)
- GM (Arbitrum)
- GM (Arbitrum)
- GM (Arbitrum)
- GM (Arbitrum)
- GM (Arbitrum)
- GM (Avalanche)
- GM (Arbitrum)
- GM (Arbitrum)
- GM (Arbitrum)
- USDC (Solana)
- GM (Arbitrum)
- USDC (Solana)
- USDC (Solana)
- USDC (Solana)
- USDC (Solana)
- USDC (Solana)
- USDC (Solana)
- USDC (Solana)
- USDC (Solana)
- GM (Arbitrum)
- GM (Arbitrum)
User Activity
Active Addresses (24h)4,983
New Addresses (24h)0
Transactions (24h)6,525
Gas Used (24h)24.74 ETH
Gas Cost (24h)$1,664
Hacks
Date: Sep 18, 2022
Protocol: GMX V1 EVM
Amount: $565,000
Classification: Market Manipulation
Technique: Stale Price Arbitrage
GMX V1's AVAX/USD perpetuals were drained via wash trades on CEXs that manipulated oracle-reported prices, allowing arbitrage at zero slippage.
Chains: Arbitrum
Language: Solidity
Target Type: DeFi Protocol
Date: Jul 9, 2025
Protocol: GMX V1 EVM
Amount: $42m
Classification: Reentrancy
Technique: Reentrancy
On July 9, 2025, GMX V1 perpetuals on Arbitrum suffered a $42M exploit through reentrancy in executeDecreaseOrder(). Attacker exploited the assumption that _account is an EOA, using a contract to reenter, manipulate short positions, inflate GLP price, and profit via redemptions; attacker returned funds July 12, keeping a $5M bounty.
Chains: Arbitrum
Language: Solidity
Target Type: DeFi Protocol
Returned Funds: $40m
GMX history
TVL is the default DefiLlama definition, which excludes Staking. Daily values are UTC snapshots from Sep 1, 2021 to Nov 14, 2026.
All-time high TVL: $710.76m on May 6, 2023. All-time low TVL: $9,834 on Sep 1, 2021.
Daily TVL, Oct 16, 2026 to Nov 14, 2026
| Date | TVL |
|---|---|
| Oct 16, 2026 | $241.66m |
| Oct 17, 2026 | $241.72m |
| Oct 18, 2026 | $241.97m |
| Oct 19, 2026 | $242.05m |
| Oct 20, 2026 | $240.9m |
| Oct 21, 2026 | $242.84m |
| Oct 22, 2026 | $244.72m |
| Oct 23, 2026 | $240.61m |
| Oct 24, 2026 | $238.98m |
| Oct 25, 2026 | $239.1m |
| Oct 26, 2026 | $237.63m |
| Oct 27, 2026 | $237.24m |
| Oct 28, 2026 | $237.91m |
| Oct 29, 2026 | $237.98m |
| Oct 30, 2026 | $229.97m |
| Oct 31, 2026 | $232m |
| Nov 1, 2026 | $232.22m |
| Nov 2, 2026 | $232.11m |
| Nov 3, 2026 | $229.77m |
| Nov 4, 2026 | $231.47m |
| Nov 5, 2026 | $235.31m |
| Nov 6, 2026 | $227.05m |
| Nov 7, 2026 | $226.6m |
| Nov 8, 2026 | $226.94m |
| Nov 9, 2026 | $222.9m |
| Nov 10, 2026 | $223.41m |
| Nov 11, 2026 | $221.14m |
| Nov 12, 2026 | $222.32m |
| Nov 13, 2026 | $219.7m |
| Nov 14, 2026 | $216.14m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $525.1m |
| Jan 31, 2025 | $534.99m |
| Feb 28, 2025 | $439.74m |
| Mar 31, 2025 | $390.61m |
| Apr 30, 2025 | $384.39m |
| May 31, 2025 | $461.25m |
| Jun 30, 2025 | $486.32m |
| Jul 31, 2025 | $479.87m |
| Aug 31, 2025 | $566.78m |
| Sep 30, 2025 | $513.89m |
| Oct 31, 2025 | $466.69m |
| Nov 30, 2025 | $387.41m |
| Dec 31, 2025 | $387.67m |
| Jan 31, 2026 | $368.1m |
| Feb 28, 2026 | $271.86m |
| Mar 31, 2026 | $276.41m |
| Apr 30, 2026 | $272.39m |
| May 31, 2026 | $237.7m |
| Jun 30, 2026 | $208.89m |
| Jul 31, 2026 | $213.65m |
| Aug 31, 2026 | $238.04m |
| Sep 30, 2026 | $240.02m |
| Oct 31, 2026 | $232m |
| Nov 14, 2026 (latest) | $216.14m |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $107.05m |
| Dec 31, 2022 | $463.02m |
| Dec 31, 2023 | $616.34m |
| Dec 31, 2024 | $525.1m |
| Dec 31, 2025 | $387.67m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $11.97m | $4.32m | $3.28m |
| Jan 2025 | $9.91m | $3.56m | $2.72m |
| Feb 2025 | $8.54m | $3.08m | $2.34m |
| Mar 2025 | $5.21m | $2.27m | $1.2m |
| Apr 2025 | $19.41m | $6.23m | $5.66m |
| May 2025 | $5.15m | $1.89m | $1.4m |
| Jun 2025 | $5.33m | $1.96m | $1.45m |
| Jul 2025 | $6.01m | $2.19m | $1.66m |
| Aug 2025 | $5.72m | $2.12m | $1.55m |
| Sep 2025 | $4.71m | $1.75m | $1.27m |
| Oct 2025 | $2.49m | $926,516 | $673,030 |
| Nov 2025 | $2.56m | $955,017 | $693,289 |
| Dec 2025 | $2.5m | $932,568 | $676,959 |
| Jan 2026 | $2.97m | $1.09m | $771,120 |
| Feb 2026 | $2.98m | $1.03m | $640,939 |
| Mar 2026 | $4.67m | $1.59m | $941,967 |
| Apr 2026 | $3.9m | $1.25m | $622,512 |
| May 2026 | $5.24m | $1.55m | $541,759 |
| Jun 2026 | $4.82m | $1.45m | $545,085 |
| Jul 2026 | $4.8m | $1.41m | $473,307 |
| Aug 2026 | $5m | $1.47m | $491,779 |
| Sep 2026 | $4.72m | $1.93m | $1.09m |
| Oct 2026 | $5.54m | $4.68m | $4.28m |
| Nov 2026 (to date) | $2.04m | $1.61m | $1.54m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/gmx
Frequently asked questions
What is GMX's TVL?
As of Nov 14, 2026, GMX has $212.63m in total value locked. TVL has decreased 11.6% over the past 30 days.
What chains does GMX operate on?
GMX operates on 5 chains: Avalanche, Arbitrum, MegaETH, Botanix, and Solana. Arbitrum holds the largest share at 85.4%.
How much has GMX generated in fees and revenue?
Over the past 30 days, GMX generated $4.51m in fees. Of that, $3.58m was protocol revenue. Based on the trailing year, the annualized rate is $50.71m in fees and $20.56m in revenue.
What is the GMX token price and valuation?
GMX is currently trading at $7.40. Its circulating market capitalization is $79.44m, ranking it #408. Its fully diluted valuation is $79.44m. Supply currently stands at 10.74m circulating, 10.74m total supply, 13.25m maximum supply.
How has GMX performed recently?
GMX is down 7.3% over the past 7 days and down 10.9% over the past 30 days. Its all-time high is $91.07, reached on Apr 18, 2023. The token is currently 91.9% below that level.
Which protocols are included in GMX?
GMX is a parent protocol whose tracked products include GMX EVM, GMX Solana, GMX V1 EVM, GMX V1 AMM, and GMX AMM.
How much trading volume does GMX process?
GMX processed $55.35m in DEX volume over the past 30 days.
Does GMX have a treasury?
GMX has a tracked treasury currently valued at $23.27m. Its holdings include $8.7m in stablecoins, $8.35m in major assets, $2.23m in its own tokens, $4m in other assets.
Has GMX ever been exploited?
GMX has 2 recorded security incidents. The most recent incident occurred on Jul 9, 2025 and involved $42m. It was classified as Reentrancy.