How to Use GMX
GMX is a decentralized perpetual exchange on Arbitrum and Avalanche. Trade with up to 50x leverage or earn real yield by providing liquidity via GLP.
Why Use GMX?
For Traders:- Up to 50x leverage
- Zero price impact trades
- Deep liquidity
- Real yield from trading fees
- 15-25% APY typical
- No impermanent loss
GMX vs Centralized Exchanges
| Feature | GMX | CEX |
|---|---|---|
| . . . . - | . . - | . . - |
| KYC | None | Required |
| Custody | Self | Exchange |
| Leverage | 50x | 100-125x |
| Fees | 0.1% open/close | 0.02-0.06% |
. -
Track your GMX positions with Fensory. Monitor trades and GLP yields.[Start Tracking →](https://www.fensory.com)
Step-by-Step Instructions
1
Bridge to Arbitrum
Use bridge.arbitrum.io or Across to move funds to Arbitrum.
Tips
- ✓GMX fees are much lower on Arbitrum
2
Connect to GMX
Go to app.gmx.io and connect your wallet.
Warnings
- ⚠Only use app.gmx.io
3
Trading: Open Position
Select Long or Short, choose asset, set size and leverage.
Warnings
- ⚠Start with low leverage (2-5x)
4
Trading: Set Stop Loss
Always set a stop loss to limit downside.
Tips
- ✓Use the order modal to set SL/TP
5
Earning: Buy GLP
Click Earn tab and buy GLP to earn trading fees.
Tips
- ✓GLP earns ~15-25% APY from fees
6
Stake esGMX
Stake any esGMX rewards for compounding or vest to GMX.
Tips
- ✓Vesting takes 1 year