How to Use GMX
GMX is a decentralized perpetual exchange on Arbitrum and Avalanche. Trade with up to 50x leverage and zero price impact.
Why Use GMX?
For Traders:- Zero price impact trades
- Up to 50x leverage
- Deep liquidity from GLP
- Low fees (0.1% open/close)
- Oracle-based pricing
- No slippage on any size
- Guaranteed execution
GMX v1 vs v2
| Feature | GMX v1 | GMX v2 |
|---|---|---|
| . . . . - | . . . . | . . . . |
| Liquidity | GLP | GM pools |
| Assets | 8 | 40+ |
| Fees | 0.1% | Dynamic |
| IL Risk | GLP holders | GM LPs |
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Step-by-Step Instructions
1
Bridge to Arbitrum
Move ETH and/or stablecoins to Arbitrum for lower fees.
Tips
- ✓Use official bridge or Across
- ✓GMX is also on Avalanche
2
Connect to GMX
Visit app.gmx.io and connect your wallet. Select Arbitrum network.
Warnings
- ⚠Only use app.gmx.io
3
Deposit Collateral
No separate deposit needed. Trade directly from your wallet balance.
Tips
- ✓GMX uses wallet assets as collateral
- ✓Keep ETH for gas
4
Open a Position
Select Long or Short, choose asset, set size and leverage. Review liquidation price.
Tips
- ✓Zero price impact regardless of size
- ✓Start with low leverage (3-5x)
Warnings
- ⚠Higher leverage = closer liquidation
5
Set Stop Loss
Use the order panel to set stop loss and take profit levels.
Tips
- ✓Stops are guaranteed to execute
- ✓Set before price moves against you
6
Monitor Position
Track your position in the positions table. Watch PnL and liquidation distance.
Tips
- ✓Add collateral if getting close to liquidation
- ✓Check funding/borrow rates
7
Close and Withdraw
Close position to realize PnL. Profits go directly to wallet.
Tips
- ✓Partial closes allowed
- ✓Review final PnL before closing