Ask about GMX · freeTotal Value Locked$231.74m
TVL by Chain
Arbitrum$197.09m
Solana$25.1m
Avalanche$9.32m
MegaETH$235,755
Botanix$0
Key Metrics
Fees 30d$5.29m
Fees 30d by chain
Solana$4.03m
Arbitrum$1.17m
Avalanche$88,475
MegaETH$28
Fees 7d$911,777
Solana$536,484
Arbitrum$355,877
Avalanche$19,411
MegaETH$3.91
Fees 24h$29,876
Arbitrum$24,320
Solana$4,633
Avalanche$923
MegaETH$0
Cumulative Fees$492.61m
Arbitrum$384.95m
Avalanche$82.8m
Solana$24.84m
MegaETH$18,398
Revenue 30d$4.45m
Revenue 30d by chain
Solana$3.99m
Arbitrum$434,106
Avalanche$32,735
MegaETH$10.23
Revenue 7d$669,977
Solana$531,119
Arbitrum$131,676
Avalanche$7,182
MegaETH$1.45
Revenue 24h$13,927
Arbitrum$8,999
Solana$4,587
Avalanche$341
MegaETH$0
Cumulative Revenue$162.49m
Arbitrum$126.29m
Avalanche$25.6m
Solana$10.6m
MegaETH$6,806
Holders Revenue 30d$4.07m
Holders Revenue 30d by chain
Solana$3.72m
Arbitrum$316,782
Avalanche$23,887
MegaETH$7.52
Holders Revenue 7d$631,947
Solana$530,621
Arbitrum$96,086
Avalanche$5,240
MegaETH$1.07
Holders Revenue 24h$11,403
Arbitrum$6,567
Solana$4,587
Avalanche$249
MegaETH$0
Cumulative Holders Revenue$140.23m
Arbitrum$110.85m
Avalanche$24.52m
Solana$4.86m
MegaETH$4,966
Incentives 1y$272,796
Incentives 30d$47,950
Incentives 7d$23,162
Cumulative Incentives$40.19m
Earnings (Annualized)$19.06m
Earnings 30d$4.41m
Earnings 7d$646,815
Cumulative Earnings$122.31m
DEX Volume 30d$47.21m
DEX Volume 30d by chain
Arbitrum$46.26m
Avalanche$946,984
MegaETH$105.85
DEX Volume 7d$14.02m
Arbitrum$13.74m
Avalanche$285,715
MegaETH$0.39
DEX Volume 24h$922,735
Arbitrum$914,550
Avalanche$8,185
MegaETH$0
Cumulative DEX Volume$23.27b
Arbitrum$17.705b
Avalanche$5.378b
Solana$185.46m
Botanix$863,503
MegaETH$121,062
Perp Volume 30d$25.758b
Perp Volume 30d by chain
Solana$24.059b
Arbitrum$1.593b
Avalanche$105.76m
MegaETH$27,517
Perp Volume 7d$2.995b
Solana$2.452b
Arbitrum$520.83m
Avalanche$21.76m
MegaETH$7,264
Perp Volume 24h$54.8m
Arbitrum$37.69m
Solana$15.57m
Avalanche$1.53m
Cumulative Perp Volume$529.547b
Arbitrum$308.591b
Solana$191.457b
Avalanche$29.466b
MegaETH$26.82m
Botanix$6.04m
Open Interest$248.59m
Market Cap$85.64m
$GMX Price$8.01
Fully Diluted Valuation$85.64m
Outstanding FDV$106.13m
$GMX Volume 24h$1.49m
CEX Volume$1.02m
DEX Volume$546,312(36.7% of total)
Staked$38.87m(45.39% of mcap)
Treasury$25.36m
Majors$9.92m
Stablecoins$11.38m
Own Tokens$2.39m
Others$1.67m
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
Yields
Pools Tracked212
Average Supply APY6.27%
User Activity
Active Addresses (24h)1,342
New Addresses (24h)0
Transactions (24h)2,585
Gas Used (24h)2.63 ETH
Gas Cost (24h)$647
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
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 1, 2026.
All-time high TVL: $710.76m on May 6, 2023. All-time low TVL: $9,834 on Sep 1, 2021.
Daily TVL, Oct 3, 2026 to Nov 1, 2026
| Date | TVL |
|---|---|
| Oct 3, 2026 | $245.36m |
| Oct 4, 2026 | $246.03m |
| Oct 5, 2026 | $247.3m |
| Oct 6, 2026 | $245.8m |
| Oct 7, 2026 | $248.17m |
| Oct 8, 2026 | $242.18m |
| Oct 9, 2026 | $240.29m |
| Oct 10, 2026 | $241.3m |
| Oct 11, 2026 | $242.2m |
| Oct 12, 2026 | $244.41m |
| Oct 13, 2026 | $239.96m |
| Oct 14, 2026 | $243.51m |
| Oct 15, 2026 | $240.62m |
| 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 |
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 1, 2026 (latest) | $232.22m |
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) | $32,697 | $12,097 | $8,828 |
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 1, 2026, GMX has $231.74m in total value locked. TVL has decreased 4.4% 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%.
How much has GMX generated in fees and revenue?
Over the past 30 days, GMX generated $5.29m in fees. Of that, $4.45m was protocol revenue. Based on the trailing year, the annualized rate is $49.7m in fees and $19.33m in revenue.
What is the GMX token price and valuation?
GMX is currently trading at $8.01. Its circulating market capitalization is $85.65m, ranking it #425. Its fully diluted valuation is $85.65m. Supply currently stands at 10.69m circulating, 10.69m total supply, 13.25m maximum supply.
How has GMX performed recently?
GMX is down 3.3% over the past 7 days and up 1.8% over the past 30 days. Its all-time high is $91.07, reached on Apr 18, 2023. The token is currently 91.2% 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 $47.21m in DEX volume over the past 30 days.
Does GMX have a treasury?
GMX has a tracked treasury currently valued at $25.36m. Its holdings include $11.38m in stablecoins, $9.92m in major assets, $2.39m in its own tokens, $1.67m 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.