Key Metrics
Fees (Annualized)$54,557.17
Cumulative Fees$302.59m
Arbitrum$230.62m
Avalanche$71.97m
Revenue (Annualized)$17,471.79
Cumulative Revenue$90.78m
Arbitrum$69.19m
Avalanche$21.59m
Holders Revenue (Annualized)$15,763.87
Cumulative Holders Revenue$90.78m
Arbitrum$69.18m
Avalanche$21.59m
Cumulative Perp Volume$146.143b
Cumulative Perp Volume by chain
Arbitrum$124.18b
Avalanche$21.963b
Staked$49.55m
$GMX Liquidity$13.64m
Uniswap V3$13.44m
Camelot V3$204,754
Protocol Information
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations) and asset rebalancing.
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Fees from open/close position (0.1%), swap (0.2% to 0.8%), mint and burn (based on tokens balance in the pool) and borrow fee ((assets borrowed)/(total assets in pool)*0.01%)View code on GitHubRevenue: Revenue is 30% of all collected fees, which goes to GMX stakersView code on GitHubHolders Revenue: 30% of all collected fees goes to GMX stakersView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubUser Activity
Active Addresses (24h)0
New Addresses (24h)0
Transactions (24h)0
Gas Used (24h)0 AVAX
Gas Cost (24h)$0
Hacks
Date: Sep 18, 2022
Amount: $565,000
Classification: Market Manipulation
Technique: Stale Price Arbitrage
Chains: Arbitrum
Language: Solidity
Target Type: DeFi Protocol
Date: Jul 9, 2025
Amount: $42m
Classification: Reentrancy
Technique: Reentrancy
Chains: Arbitrum
Language: Solidity
Target Type: DeFi Protocol
Returned Funds: $40m
Competitors
Frequently Asked Questions
What is GMX V1 Perps?
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations) and asset rebalancing.
What is GMX V1 Perps' TVL?
GMX V1 Perps currently has $3.22m in total value locked. TVL has increased 13.3% over the past 30 days.
What chains does GMX V1 Perps operate on?
GMX V1 Perps operates on 2 chains: Avalanche and Arbitrum. Avalanche holds the largest share at 59.7%.
How does GMX V1 Perps' TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, GMX V1 Perps ranks #38 by TVL. The category holds $2.052b across 419 protocols, and GMX V1 Perps accounts for 0.2% of that total. Other leading protocols include GMX V2 Perps, MUX Perps, Contango V2, ApeX Pro, Jarvis Network, Voltz, Aboard Exchange, Vertex Perps, RubyDex, and FutureSwap.
Has GMX V1 Perps ever been exploited?
GMX V1 Perps has 2 recorded security incidents. The most recent incident occurred on Jul 9, 2025 and involved $42m. It was classified as Reentrancy.
