Trading overview
GMX is a decentralized exchange that lets you trade without a username or password. The platform uses oracle-based pricing sourced from aggregated exchange data, which reduces the risk of liquidations from temporary wicks. For details on how pricing works, see Pricing on GMX.
GMX V2 uses linear, USD-based PnL with flexible collateral, so your overall exposure can differ from a standard stablecoin-margined linear perp. For a practical explanation, see Are GMX perps linear or inverse?.
Adding a wallet
If you don't have a wallet yet, you can use Rabby.
Connecting and funding your wallet
After you have a wallet, connect it by pressing the "Connect wallet" button on the Trade page.
To fund your wallet with the required gas tokens, refer to your wallet onboarding experience, which offers options for buying, bridging, and on-ramping. If you don't have the required gas token for the network, you can still trade using Express Trading.
Multichain trading
GMX lets you trade from multiple blockchain networks. The method you use depends on which chain your wallet is connected to: direct wallet trading on chains where GMX markets are deployed, or the GMX Account for cross-chain access from other supported networks.
| Connected network | Wallet funds | GMX Account funds |
|---|---|---|
| Arbitrum | ✅ Arbitrum markets | ✅ Arbitrum markets |
| Avalanche | ✅ Avalanche markets | ❌ Not available |
| Botanix | ✅ Botanix markets | ❌ Not available |
| Other chains (Ethereum, Base, BNB) | ❌ No GMX markets | ✅ Arbitrum markets |
Direct wallet trading
GMX markets are deployed on Arbitrum, Avalanche, and Botanix. When your wallet is connected to any of these chains, you can trade directly using the funds in your wallet — no additional setup required.
GMX Account (multichain)
The GMX Account lets you trade on GMX from chains that don't have GMX markets deployed, such as Ethereum, Base, or BNB. You can also use it when connected to Arbitrum. Arbitrum is the only supported settlement chain — all trades through the GMX Account execute on Arbitrum markets.
Here's how it works:
- Your GMX Account balance lives on Arbitrum.
- Deposit from any supported source chain — funds are automatically bridged using Stargate (token transfers) and LayerZero (cross-chain messaging).
- Trade on Arbitrum markets using your GMX Account balance.
- Withdraw to any supported chain, regardless of where you originally deposited.
Think of the GMX Account as a trading wallet on Arbitrum that you can fund and withdraw to from anywhere.
The GMX Account is not available on Avalanche or Botanix. On these chains, only direct wallet trading is supported.
Supported deposits and withdrawals
The following chains and tokens are available for deposits into and withdrawals from your GMX Account on Arbitrum.
| Chain | Deposit tokens | Withdrawal tokens |
|---|---|---|
| Ethereum | USDC, USDT, ETH | USDC, USDT, ETH |
| Base | USDC, ETH | USDC, ETH |
| BNB | USDC, USDT | USDC, USDT |
Bridging for GMX Account deposits and withdrawals is limited by Stargate liquidity caps.
Express Trading and One-Click Trading
GMX provides different modes to suit trader preferences: Classic Trading, Express Trading, and Express + One-Click Trading. We recommend using Express or Express + One-Click, as they provide the best experience, and trading fees are the same on all modes.
| Mode | Signing method | RPC infrastructure | Gas payments |
|---|---|---|---|
| Classic Trading | On-chain: wallet signing popup for each trade | Uses your own wallet's RPC | ETH on Arbitrum, AVAX on Avalanche, BTC on Botanix |
| Express Trading | Off-chain: you sign messages locally; GMX broadcasts on-chain via Gelato Relay | GMX-sponsored premium RPCs (high reliability) | USDC or WETH on Arbitrum, USDC or WAVAX on Avalanche, PBTC on Botanix |
| Express + One-Click Trading | Off-chain: auto-signed with a locally stored sub-account key (no manual confirmations) | GMX-sponsored premium RPCs (high reliability) | USDC or WETH on Arbitrum, USDC or WAVAX on Avalanche, PBTC on Botanix |
Enabling One-Click Trading
One-Click Trading can be enabled through the settings menu in the top right of the interface. Enabling this feature lets you trade instantly without a wallet signing popup for each trade.
Safety features
- Funds from decreasing positions, closing positions, or swaps can only be sent back to your wallet.
- Trades executed without signing popups are limited by the maximum number you authorize. For instance, if you authorize 10 actions, after 10 trades, a wallet signing popup appears to re-authorize further trades.
Risks
- This feature uses a sub-account key stored locally in your browser. If your browser is compromised, the key could potentially leak, allowing trades to be executed.
- The previously authorized trade limit acts as a safeguard. Even if compromised, a malicious actor can only execute trades up to the authorized limit.
RPC URLs
GMX uses different RPC URLs for querying (reading data) and submitting transactions (writing data).
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Reading RPCs are set automatically by the GMX interface and selected from a curated list to ensure fast and reliable data loading.
-
Writing RPCs:
- Classic Trading: Set by your wallet.
- Express Trading and Express + One-Click Trading: Automatically set to GMX-sponsored premium RPCs (via Gelato) for superior reliability and speed.
If you're experiencing issues while trading in Classic Trading, consider switching to Express or Express + One-Click Trading through the settings menu. Alternatively, you can manually select another RPC URL via your wallet from options provided on Chainlist.