| FEATURE | GMX | PARADEX |
|---|---|---|
| Type | DEX | HYBRID |
| Taker Fee | 0.06% | 0% |
| Maker Fee | 0.04% | 0% |
| Max Leverage | 100x | 50x |
| Perp Pairs | 103 | 63 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.4 | 4.5 |
GMX vs Paradex: key differences
Opening and closing a $10,000 position with market orders costs $0 on Paradex and $12.00 on GMX at base-tier taker fees, a difference of $12.00 per round trip.
For limit orders, GMX charges makers 0.04%, while Paradex charges makers nothing.
GMX allows up to 100x leverage against 50x on Paradex. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
GMX lists 103 perpetual markets, Paradex lists 63.
GMX is the more liquid venue, with $83M in 24-hour volume against $6M on Paradex (about 14 times more). Deeper books mean less slippage on large orders.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDC, USDT, WETH, ETH +4 more on GMX and in USDC on Paradex.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| GMX | Paradex | |
|---|---|---|
| Taker round trip on $10,000 | $12.00 | $0 |
| Maker round trip on $10,000 | $8.00 | $0 |
| Best-tier taker fee | 0.054% | 0% |
| BTC max leverage | 100x | 50x |
| Margin modes | isolated | cross, isolated, portfolio |
| 24h volume | $83M | $6M |
| TVL | $246M | $32M |
| Custody | non-custodial | hybrid |
| Collateral | USDC, USDT, WETH, ETH +4 more | USDC |
| Deposit networks | Arbitrum, Avalanche, MegaETH +4 more | Ethereum, Starknet, Arbitrum +19 more |
| Minimum order | $2 | $10 |
| Order types | 6 | 11 |
| Options | No | Yes |
| Mobile app | No | Yes |
| Testnet or demo | No | Yes |
| Vaults or copy trading | No | Yes |
| Insurance fund | No | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 9 | 19 |
| Founded | 2021 | 2023 |
Choose GMX if
- You want higher leverage: up to 100x against 50x.
- You trade smaller or newer markets: 103 perpetual pairs against 63.
- You trade size and need liquidity: $83M in 24-hour volume against $6M.
- You want to post margin in more than one asset.
- You want a sign-up discount: 5% off fees through a referral link.
Choose Paradex if
- You mostly use market orders: 0% taker fee against 0.06% on GMX.
- You place limit orders: 0% maker fee against 0.04% on GMX.
- You trade options as well as perpetuals.
- You trade from a phone: Paradex has a mobile app.
GMX
PROS
- + Perpetual position fees of 0.04% for trades that improve the long/short balance and 0.06% otherwise; gold, silver, QQQ, and SPY markets charge 0.01% or 0.02% during market hours
- + Up to 100x leverage on BTC, ETH, gold, silver, and oil markets, and up to 50x on the QQQ and SPY index markets during trading hours
- + 103 perpetual markets on Arbitrum covering crypto assets, commodities (gold, silver, WTI, Brent, natural gas), and US indices (QQQ, SPY)
CONS
- − The Terms and Conditions bar U.S. Persons and residents of countries under US, UK, or EU sanctions, and prohibit using a VPN to get around the restriction
- − No native mobile app; mobile trading requires a wallet browser or WalletConnect
- − Staking rewards have been suspended since 4 March 2026: bought-back GMX stays in the Treasury until the GMX price reaches 90 USD
Paradex
PROS
- + Zero trading fees for retail orders (0% maker and 0% taker) on all 63 perpetual futures markets, on dated options, and on spot
- + Private trading: positions, orders, entries, exits, and PnL are encrypted and hidden from other traders, which limits liquidation sniping and front-running
- + 63 perpetual markets beyond crypto, including GOOGL, META, MSFT, and MSTR, the US100 and US500 indices, gold, silver, copper, and crude oil, plus about 6,700 options contracts on 11 underlyings
CONS
- − USDC is the only collateral asset. Spot balances in other tokens count toward account value but cannot be used as margin for perpetuals
- − Not available to US and Canadian persons, residents of US territories, or people in Cuba, Iran, North Korea, Syria, Crimea, Donetsk, Luhansk, and Sevastopol
- − Pro orders sent through the standard API are not free: 0.003% maker since July 3, 2026 and 0.045% taker at the base tier, with a 0.0175% floor after all discounts
Frequently Asked Questions
Is GMX or Paradex better?
Paradex has a higher rating (4.5 vs 4.4). Paradex offers lower fees (0% vs 0.06%). Choose GMX for higher leverage, and Paradex for lower fees.
What are the fees on GMX vs Paradex?
GMX charges 0.06% taker / 0.04% maker. Paradex charges 0% taker / 0% maker for perpetuals.
Which has higher leverage, GMX or Paradex?
GMX offers up to 100x, and Paradex offers up to 50x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do GMX and Paradex require KYC?
GMX does not require KYC. Paradex does not require KYC. Both restrict some jurisdictions (GMX lists 9; Paradex lists 19), so check the terms of service for your country before depositing.
Is GMX or Paradex safer?
GMX has been audited and has no insurance fund on record here, and custody is non-custodial. Paradex has been audited and runs an insurance fund, and custody is hybrid. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, GMX or Paradex?
GMX recorded $83M in 24-hour volume and Paradex recorded $6M, as of 2026-10-04. GMX lists 103 perpetual markets and Paradex lists 63.