How to Use GMX Perpetuals
GMX is a decentralized perpetual futures exchange on Arbitrum and Avalanche. Trade BTC, ETH, and other assets with up to 50x leverage directly from your wallet.
What are Perpetuals?
Perpetual futures (perps) are derivatives that let you trade with leverage. Unlike traditional futures, they have no expiry date.
Key Concepts:- Long: Profit when price goes up
- Short: Profit when price goes down
- Leverage: Multiply exposure (and risk)
- Liquidation: Position closed if losses exceed margin
GMX Features
| Feature | Description |
|---|---|
| . . . . - | . . . . . . - |
| Leverage | Up to 50x |
| Assets | BTC, ETH, AVAX, etc. |
| Fees | 0.1% open/close |
| Funding | Dynamic rates |
. -
Track your perp positions with Fensory. Monitor P&L and liquidation risk.[Start Tracking →](https://www.fensory.com)
Step-by-Step Instructions
Bridge to Arbitrum
GMX is on Arbitrum and Avalanche. Bridge assets using Across or official bridge.
Tips
- ✓Arbitrum has more GMX liquidity
- ✓Need ETH for gas, USDC/ETH for trading
Go to GMX
Visit app.gmx.io and connect your wallet. Select Arbitrum network.
Warnings
- ⚠Only use app.gmx.io
- ⚠Verify URL carefully
Choose Market
Select the asset to trade (BTC, ETH, etc.) in the Trade panel.
Tips
- ✓Start with major assets
- ✓Check available liquidity
Set Position Size
Enter collateral amount and select leverage. Review liquidation price.
Tips
- ✓Keep liquidation price far from current price
Warnings
- ⚠Higher leverage = higher liquidation risk
- ⚠Start with 2-5x max
Open Position
Click Long or Short. Review details and confirm transaction.
Tips
- ✓Market orders fill instantly
- ✓Limit orders wait for price
Manage Position
Monitor position in the Positions panel. Add collateral or close as needed.
Tips
- ✓Set stop-loss for risk management
- ✓Close before liquidation
Close Position
Click Close on your position. Profits/losses settle in your chosen asset.
Tips
- ✓Partial closes are supported
- ✓Check fees before closing