GMX vs Veranta
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
| Line | GMX | Veranta |
|---|---|---|
| 30-day volume | #P07 · $22,518.0MEdge | #P11 · $3,194.0M |
| 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.Edge | 0.045% taker · 0.001% makerNo order book: the venue prices against its vault and rewards the side that balances open interest. Opening or closing on the lighter side costs 0.001%, on the heavier side 0.045%, charged on notional at both ends. Forex, commodities, indices and equities trade with zero commission while those markets are in growth mode, and Upside Perps skip upfront fees to take a share of profits instead. Funding and borrow are charged while the position is open. |
| New-user perk | 5% or 10% off opening and closing fees depending on the tier of the code you useEdge | None documented |
| Max leverage | up to 100× | up to 500×Edge |
| Perp markets | 132Edge | 100 |
| Identity check | No KYC | No KYC |
| Custody | Non-custodial, wallet only | Non-custodial, gasless one-click trading from your wallet |
| Settles on | Arbitrum (GMX V2 contracts) | Base (Avantis/Veranta contracts) |
| Collateral | USDC, USDT, WETH | USDC |
| Where it runs | Web | Web |
| Chains | EVMArbitrum, Avalanche, MegaETH, Ethereum, Base, BNB ChainEdge | EVMBase |
| Documented features | 4 of 10Edge | 3 of 10 |
| Order book | No | No |
| Cross margin | Not documented | Not documented |
| Spot trading | Yes | No |
| Vaults / copy vaults | Yes | Yes |
| Copy trading | Not documented | Not documented |
| Stocks, gold or forex | Yes | Yes |
| Points program | No | Not documented |
| API | Yes | Yes |
| Mobile app | Not documented | Not documented |
| Telegram bot | Not documented | No |
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.
app.gmx.io
Pick Veranta if
You want one account for FX, equities, commodities and crypto, and you are willing to trade the balancing side to pay almost nothing.
Avantis became Veranta, and the model stayed the same: an AMM-style venue where your fee depends on which side of the market you take, from 0.001% when you balance open interest to 0.045% when you add to it. Leverage reaches 500x on FX majors and 250x on blue-chip crypto through Upside Perps.
veranta.xyz
