Ask about GMX · freeTotal Value Locked$220.77m
TVL by Chain
Arbitrum$188.78m
Solana$22.87m
Avalanche$8.88m
MegaETH$232,707
Botanix$0
Key Metrics
Fees 30d$4.71m
Fees 30d by chain
Solana$3.39m
Arbitrum$1.24m
Avalanche$82,418
MegaETH$21.32
Fees 7d$922,606
Solana$635,516
Arbitrum$270,793
Avalanche$16,290
MegaETH$5.25
Fees 24h$217,835
Solana$168,167
Arbitrum$47,724
Avalanche$1,943
MegaETH$0.73
Cumulative Fees$494.33m
Arbitrum$385.36m
Avalanche$82.82m
Solana$26.13m
MegaETH$18,408
Revenue 30d$3.84m
Revenue 30d by chain
Solana$3.35m
Arbitrum$454,579
Avalanche$29,971
MegaETH$8.23
Revenue 7d$728,969
Solana$629,161
Arbitrum$94,302
Avalanche$5,504
MegaETH$2.29
Revenue 24h$183,253
Solana$166,485
Arbitrum$16,114
Avalanche$654
MegaETH$0.36
Cumulative Revenue$163.92m
Arbitrum$126.43m
Avalanche$25.61m
Solana$11.87m
MegaETH$6,810
Holders Revenue 30d$3.56m
Holders Revenue 30d by chain
Solana$3.2m
Arbitrum$331,724
Avalanche$21,874
MegaETH$6.04
Holders Revenue 7d$692,559
Solana$619,721
Arbitrum$68,819
Avalanche$4,019
MegaETH$1.68
Holders Revenue 24h$178,724
Solana$166,485
Arbitrum$11,759
Avalanche$480
MegaETH$0.27
Cumulative Holders Revenue$141.6m
Arbitrum$110.96m
Avalanche$24.52m
Solana$6.12m
MegaETH$4,969
Incentives 1y$266,769
Incentives 30d$29,388
Incentives 7d$2,018
Incentives 24h$0
Cumulative Incentives$40.19m
Earnings (Annualized)$20.18m
Earnings 30d$3.81m
Earnings 7d$726,951
Earnings 24h$183,253
Cumulative Earnings$123.73m
DEX Volume 30d$51.89m
DEX Volume 30d by chain
Arbitrum$51.12m
Avalanche$771,519
MegaETH$70.71
DEX Volume 7d$15.57m
Arbitrum$15.46m
Avalanche$116,986
MegaETH$70.08
DEX Volume 24h$1.02m
Arbitrum$999,360
Avalanche$18,464
MegaETH$0
Cumulative DEX Volume$23.291b
Arbitrum$17.726b
Avalanche$5.378b
Solana$185.46m
Botanix$863,503
MegaETH$121,133
Perp Volume 30d$24.058b
Perp Volume 30d by chain
Solana$22.24b
Arbitrum$1.723b
Avalanche$94.63m
MegaETH$24,637
Perp Volume 7d$4.725b
Solana$4.338b
Arbitrum$370.2m
Avalanche$16.68m
MegaETH$5,322
Perp Volume 24h$1.418b
Solana$1.334b
Arbitrum$80.6m
Avalanche$3.12m
MegaETH$1,377
Cumulative Perp Volume$540.648b
Arbitrum$309.265b
Solana$201.856b
Avalanche$29.494b
MegaETH$26.81m
Botanix$6.04m
Open Interest$223.88m
Market Cap$79.89m
$GMX Price$7.47
Fully Diluted Valuation$79.89m
Outstanding FDV$99m
$GMX Volume 24h$3.56m
CEX Volume$1.51m
DEX Volume$2.46m(69.12% of total)
Staked$36.4m(45.56% of mcap)
Treasury$22.72m
Majors$8.86m
Stablecoins$8.7m
Own Tokens$2.18m
Others$2.98m
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 APY4.98%
User Activity
Active Addresses (24h)4,267
New Addresses (24h)0
Transactions (24h)3,602
Gas Used (24h)18.39 ETH
Gas Cost (24h)$955
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 12, 2026.
All-time high TVL: $710.76m on May 6, 2023. All-time low TVL: $9,834 on Sep 1, 2021.
Daily TVL, Oct 14, 2026 to Nov 12, 2026
| Date | TVL |
|---|---|
| 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 |
| 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 |
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 12, 2026 (latest) | $222.32m |
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) | $1.79m | $1.45m | $1.39m |
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 12, 2026, GMX has $220.77m in total value locked. TVL has decreased 8% 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 85.5%.
How much has GMX generated in fees and revenue?
Over the past 30 days, GMX generated $4.71m in fees. Of that, $3.84m was protocol revenue. Based on the trailing year, the annualized rate is $50.58m in fees and $20.45m in revenue.
What is the GMX token price and valuation?
GMX is currently trading at $7.39. Its circulating market capitalization is $79.07m, ranking it #418. Its fully diluted valuation is $79.07m. Supply currently stands at 10.7m circulating, 10.7m total supply, 13.25m maximum supply.
How has GMX performed recently?
GMX is down 12.2% over the past 7 days and down 14% 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 $51.89m in DEX volume over the past 30 days.
Does GMX have a treasury?
GMX has a tracked treasury currently valued at $22.72m. Its holdings include $8.7m in stablecoins, $8.86m in major assets, $2.18m in its own tokens, $2.98m 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.