GMX is one of the most popular decentralized derivatives exchanges, where you can go long or short on tokens and also earn a share of the platform generated fees. However, competition is rising and there are at least 100+ perpetual exchanges, many with more trading pairs, lower fees, and lots of potential.
Whether you're looking for a DEX with lower fees, higher leverage, or more growth potential, here are different GMX alternatives to consider.
Best GMX Alternatives
From our Perp DEX comparison tool, these DEXs are competitive with GMX and may continue to grow in the future.
ApeX
Hyperliquid
MUX
dYdX
What Is GMX?
GMX is a decentralized exchange for perpetual trading on the Arbitrum and Avalanche network. Users can go long or short on cryptocurrencies with up to 50x leverage. You can also take a share in earning rewards from platform generated fees.
Currently, it has a TVL of $586 million according to DefiLlama, making it one of the most popular derivatives exchanges. However, there are over 100 competitors like dYdX ($361M TVL), MUX Protocol ($60M TVL), and Gains Network ($53M TVL).
Final Thoughts
While there are dozens of up and coming protocols, and many large ones I didn't mention, the options above are worth exploring. None of this is financial advice. Remember to do your own research and always stay safe.
And if any of these dapps are geo-blocking your location, consider investing in a VPN like Surfshark or NordVPN. It will protect your IP address and let you change your location to any country!