GMX vs Extended
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
See the 10 differences
| Line | GMX | Extended |
|---|---|---|
| 30-day volume | Edge#07 · $22,518.0M | #09 · $7,288.0M |
| Trading fees | 0.04% to 0.06% per open or closeThere is no maker/taker split: the position fee is 0.04% when your trade reduces the imbalance between long and short open interest and 0.06% when it increases it, charged on open, close, increase and decrease. TradFi markets have their own rates (GOLD, SILVER and oil trade at 0.01%/0.02% during on-hours). Price impact, hourly borrow fees and swaps are billed on top. | Edge0.025% taker · 0% makerA flat schedule for perps and spot: 0.025% taker, 0% maker, with RWA markets discounted to 0.010% taker. Makers whose share of total maker volume reaches 0.5% receive a 0.002% rebate, rising to 0.010% above 5% market share; rebates are automatic and paid daily at 00:00 UTC. |
| New-user perk | 5% or 10% off opening and closing fees depending on the tier of the code you use | From TGE, 10% off trading fees for the first $25M of volume or 30 days from signup, whichever comes first |
| Max leverage | up to 100× | up to 100× |
| Perp markets | Edge132 | 100 |
| Identity check (KYC) | No KYC | No KYC |
| Custody | Non-custodial, wallet only | Non-custodial: funds stay in on-chain contracts on Arc |
| Settles on | Arbitrum (GMX V2 contracts) | Arc (Circle's L1) |
| Collateral | USDC, USDT, WETH | USDC, cirBTC, ETH |
| Where it runs | Web | Web |
| Chains | EVMArbitrum, Avalanche, MegaETH, Ethereum, Base, BNB Chain | EdgeEVMEthereum, Arbitrum, Base, Arc, Polygon, Avalanche, BNB Chain |
| Documented features | 4 of 10 | Edge6 of 10 |
| Order book | No | Yes |
| Cross margin | Not documented | Yes |
| Spot trading | Yes | Yes |
| Vaults / copy vaults | Yes | Yes |
| Copy trading | Not documented | Not documented |
| Stocks, gold or forex | Yes | Yes |
| Points program | No | No |
| API | Yes | Yes |
| Mobile app | Not documented | Not documented |
| Telegram bot | Not documented | Not documented |
Which one should you pick?
Pick GMX if
You want oracle pricing with no spread hunting, on Arbitrum, and you trade the lighter side of the market.
GMX prices trades against pooled liquidity and Chainlink oracles rather than a book, so its cost structure looks like a swap: an open/close fee that varies with the balance of open interest, plus borrow and price impact. It is the cheapest venue in the series for a trader who systematically takes the lighter side.
Read the GMX reviewSign up through this link: 5% or 10% off opening and closing fees depending on the tier of the code you use.
Affiliate link
Pick Extended if
Fee level is your deciding criterion and you want crypto and RWA markets on the same account.
The cheapest taker fee in the series at 0.025%, on a venue built by an ex-Revolut team that settles entirely on Arc, the L1 developed by Circle. Deposits are accepted from seven EVM chains in USDC, ETH or cirBTC, which removes the usual bridging detour.
Read the Extended reviewapp.extended.exchange
