Ask about GMX · freeTotal Value Locked$232.45m
TVL by Chain
Arbitrum$197.71m
Solana$25.22m
Avalanche$9.29m
MegaETH$234,301
Botanix$0
Key Metrics
Fees 30d$5.29m
Fees 30d by chain
Solana$4.02m
Arbitrum$1.17m
Avalanche$88,443
MegaETH$28
Fees 7d$907,147
Solana$531,851
Arbitrum$355,912
Avalanche$19,379
MegaETH$3.91
Fees 24h$25,246
Arbitrum$24,355
Avalanche$891
MegaETH$0
Cumulative Fees$492.6m
Arbitrum$384.95m
Avalanche$82.8m
Solana$24.84m
MegaETH$18,398
Revenue 30d$4.45m
Revenue 30d by chain
Solana$3.98m
Arbitrum$434,119
Avalanche$32,724
MegaETH$10.23
Revenue 7d$665,392
Solana$526,532
Arbitrum$131,689
Avalanche$7,171
MegaETH$1.45
Revenue 24h$9,342
Arbitrum$9,012
Avalanche$330
MegaETH$0
Cumulative Revenue$162.49m
Arbitrum$126.29m
Avalanche$25.6m
Solana$10.59m
MegaETH$6,806
Holders Revenue 30d$4.06m
Holders Revenue 30d by chain
Solana$3.72m
Arbitrum$316,791
Avalanche$23,879
MegaETH$7.52
Holders Revenue 7d$627,361
Solana$526,034
Arbitrum$96,095
Avalanche$5,232
MegaETH$1.07
Holders Revenue 24h$6,817
Arbitrum$6,576
Avalanche$241
MegaETH$0
Cumulative Holders Revenue$140.23m
Arbitrum$110.85m
Avalanche$24.52m
Solana$4.85m
MegaETH$4,966
Incentives 1y$272,900
Incentives 30d$47,958
Incentives 7d$23,162
Incentives 24h$23,144
Cumulative Incentives$40.19m
Earnings (Annualized)$19.06m
Earnings 30d$4.4m
Earnings 7d$642,230
Earnings 24h-$13,802
Cumulative Earnings$122.3m
DEX Volume 30d$46.29m
DEX Volume 30d by chain
Arbitrum$45.35m
Avalanche$938,799
MegaETH$105.85
DEX Volume 7d$13.1m
Arbitrum$12.82m
Avalanche$277,530
MegaETH$0.39
DEX Volume 24h$3.45m
Arbitrum$3.35m
Avalanche$104,034
MegaETH$0
Cumulative DEX Volume$23.269b
Arbitrum$17.705b
Avalanche$5.378b
Solana$185.46m
Botanix$863,503
MegaETH$121,062
Perp Volume 30d$25.703b
Perp Volume 30d by chain
Solana$24.044b
Arbitrum$1.555b
Avalanche$104.23m
MegaETH$27,517
Perp Volume 7d$2.94b
Solana$2.436b
Arbitrum$483.13m
Avalanche$20.22m
MegaETH$7,264
Perp Volume 24h$947.19m
Solana$826.57m
Arbitrum$114.92m
Avalanche$5.7m
MegaETH$160
Cumulative Perp Volume$529.492b
Arbitrum$308.553b
Solana$191.442b
Avalanche$29.465b
MegaETH$26.82m
Botanix$6.04m
Open Interest$248.58m
Market Cap$88.35m
$GMX Price$8.26
Fully Diluted Valuation$88.35m
Outstanding FDV$109.45m
$GMX Volume 24h$1.96m
CEX Volume$1.33m
DEX Volume$714,842(36.55% of total)
Staked$40.16m(45.46% of mcap)
Treasury$25.37m
Majors$9.89m
Stablecoins$11.39m
Own Tokens$2.41m
Others$1.68m
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 Tracked211
Average Supply APY6.45%
User Activity
Active Addresses (24h)4,832
New Addresses (24h)0
Transactions (24h)6,540
Gas Used (24h)13.89 ETH
Gas Cost (24h)$2,098
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 Oct 31, 2026.
All-time high TVL: $710.76m on May 6, 2023. All-time low TVL: $9,834 on Sep 1, 2021.
Daily TVL, Oct 2, 2026 to Oct 31, 2026
| Date | TVL |
|---|---|
| Oct 2, 2026 | $242.3m |
| 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 | $232.45m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $662.4m |
| 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 | $232.45m |
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, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $10.62m | $3.81m | $2.92m |
| 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 | $5.53m | $4.68m | $4.28m |
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 Oct 31, 2026, GMX has $232.45m in total value locked. TVL has decreased 3.2% 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 85.1%.
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 $49.69m in fees and $19.33m in revenue.
What is the GMX token price and valuation?
GMX is currently trading at $8.28. Its circulating market capitalization is $88.51m, ranking it #417. Its fully diluted valuation is $88.51m. Supply currently stands at 10.69m circulating, 10.69m total supply, 13.25m maximum supply.
How has GMX performed recently?
GMX is down 0.2% over the past 7 days and up 4.7% over the past 30 days. Its all-time high is $91.07, reached on Apr 18, 2023. The token is currently 90.9% 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 $46.29m in DEX volume over the past 30 days.
Does GMX have a treasury?
GMX has a tracked treasury currently valued at $25.37m. Its holdings include $11.39m in stablecoins, $9.89m in major assets, $2.41m in its own tokens, $1.68m 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.