Ask about GMX · freeTotal Value Locked$219.33m
TVL by Chain
Arbitrum$187.08m
Solana$23.06m
Avalanche$8.96m
MegaETH$231,313
Botanix$0
Key Metrics
Fees 30d$4.59m
Fees 30d by chain
Solana$3.29m
Arbitrum$1.22m
Avalanche$81,995
MegaETH$32.87
Fees 7d$1.15m
Solana$877,452
Arbitrum$252,964
Avalanche$16,545
MegaETH$3.14
Fees 24h$150,325
Solana$100,420
Arbitrum$47,644
Avalanche$2,258
MegaETH$2.88
Cumulative Fees$493.99m
Arbitrum$385.26m
Avalanche$82.82m
Solana$25.89m
MegaETH$18,406
Revenue 30d$3.74m
Revenue 30d by chain
Solana$3.26m
Arbitrum$447,015
Avalanche$30,043
MegaETH$12.13
Revenue 7d$965,174
Solana$868,680
Arbitrum$90,667
Avalanche$5,826
MegaETH$1.25
Revenue 24h$116,709
Solana$99,416
Arbitrum$16,526
Avalanche$766
MegaETH$1.14
Cumulative Revenue$163.65m
Arbitrum$126.4m
Avalanche$25.6m
Solana$11.64m
MegaETH$6,809
Holders Revenue 30d$3.46m
Holders Revenue 30d by chain
Solana$3.11m
Arbitrum$326,202
Avalanche$21,924
MegaETH$8.88
Holders Revenue 7d$931,110
Solana$860,691
Arbitrum$66,165
Avalanche$4,254
MegaETH$0.91
Holders Revenue 24h$112,033
Solana$99,416
Arbitrum$12,060
Avalanche$557
MegaETH$0.83
Cumulative Holders Revenue$141.35m
Arbitrum$110.94m
Avalanche$24.52m
Solana$5.88m
MegaETH$4,969
Incentives 1y$267,830
Incentives 30d$29,419
Incentives 7d$2,026
Incentives 24h$0
Cumulative Incentives$40.19m
Earnings (Annualized)$19.97m
Earnings 30d$3.71m
Earnings 7d$963,148
Earnings 24h$116,709
Cumulative Earnings$123.46m
DEX Volume 30d$52.11m
DEX Volume 30d by chain
Arbitrum$51.35m
Avalanche$761,065
MegaETH$168.23
DEX Volume 7d$16.15m
Arbitrum$16.01m
Avalanche$144,426
MegaETH$63.60
DEX Volume 24h$1.03m
Arbitrum$989,474
Avalanche$39,741
MegaETH$0.07
Cumulative DEX Volume$23.288b
Arbitrum$17.723b
Avalanche$5.378b
Solana$185.46m
Botanix$863,503
MegaETH$121,126
Perp Volume 30d$23.186b
Perp Volume 30d by chain
Solana$21.43b
Arbitrum$1.664b
Avalanche$92.52m
MegaETH$22,617
Perp Volume 7d$7.268b
Solana$6.919b
Arbitrum$332.43m
Avalanche$16.7m
MegaETH$1,170
Perp Volume 24h$640.68m
Solana$581.9m
Arbitrum$56.07m
Avalanche$2.71m
MegaETH$974
Cumulative Perp Volume$538.906b
Arbitrum$309.111b
Solana$200.274b
Avalanche$29.488b
MegaETH$26.8m
Botanix$6.04m
Open Interest$225.24m
Market Cap$80.96m
$GMX Price$7.57
Fully Diluted Valuation$80.96m
Outstanding FDV$100.3m
$GMX Volume 24h$4.6m
CEX Volume$1.88m
DEX Volume$2.81m(61.07% of total)
Staked$36.75m(45.4% of mcap)
Treasury$23.04m
Majors$9.18m
Stablecoins$8.46m
Own Tokens$2.25m
Others$3.16m
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 APY5.97%
User Activity
Active Addresses (24h)3,163
New Addresses (24h)0
Transactions (24h)4,241
Gas Used (24h)12.46 ETH
Gas Cost (24h)$1,065
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 10, 2026.
All-time high TVL: $710.76m on May 6, 2023. All-time low TVL: $9,834 on Sep 1, 2021.
Daily TVL, Oct 12, 2026 to Nov 10, 2026
| Date | TVL |
|---|---|
| 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 |
| 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 |
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 10, 2026 (latest) | $223.41m |
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) | $1.43m | $1.18m | $1.13m |
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 10, 2026, GMX has $219.33m in total value locked. TVL has decreased 9.4% 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 85.3%.
How much has GMX generated in fees and revenue?
Over the past 30 days, GMX generated $4.59m in fees. Of that, $3.74m was protocol revenue. Based on the trailing year, the annualized rate is $50.39m in fees and $20.24m in revenue.
What is the GMX token price and valuation?
GMX is currently trading at $7.57. Its circulating market capitalization is $80.96m, ranking it #418. Its fully diluted valuation is $80.96m. Supply currently stands at 10.7m circulating, 10.7m total supply, 13.25m maximum supply.
How has GMX performed recently?
GMX is down 10.3% over the past 7 days and down 9.1% over the past 30 days. Its all-time high is $91.07, reached on Apr 18, 2023. The token is currently 91.7% 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 $52.11m in DEX volume over the past 30 days.
Does GMX have a treasury?
GMX has a tracked treasury currently valued at $23.04m. Its holdings include $8.46m in stablecoins, $9.18m in major assets, $2.25m in its own tokens, $3.16m 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.