| FEATURE | VERANTA | GMX |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.045% | 0.06% |
| Maker Fee | 0.001% | 0.04% |
| Max Leverage | 500x | 100x |
| Perp Pairs | 148 | 103 |
| Spot Trading | No | Yes |
| KYC Required | No | No |
| Rating | 3.5 | 4.4 |
Veranta vs GMX: key differences
Opening and closing a $10,000 position with market orders costs $9.00 on Veranta and $12.00 on GMX at base-tier taker fees, a difference of $3.00 per round trip.
For limit orders, Veranta charges makers 0.001%, while GMX charges makers 0.04%.
Veranta allows up to 500x leverage against 100x on GMX. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
Veranta lists 148 perpetual markets, GMX lists 103.
GMX also has spot trading; Veranta is perpetuals only.
GMX is the more liquid venue, with $83M in 24-hour volume against $50M on Veranta. Deeper books mean less slippage on large orders.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDC on Veranta and in USDC, USDT, WETH, ETH +4 more on GMX.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Veranta | GMX | |
|---|---|---|
| Taker round trip on $10,000 | $9.00 | $12.00 |
| Maker round trip on $10,000 | $0.20 | $8.00 |
| Best-tier taker fee | 0.0315% | 0.054% |
| BTC max leverage | 500x | 100x |
| Margin modes | isolated | isolated |
| 24h volume | $50M | $83M |
| TVL | $11M | $246M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC | USDC, USDT, WETH, ETH +4 more |
| Deposit networks | Base, Ethereum | Arbitrum, Avalanche, MegaETH +4 more |
| Minimum order | $100 | $2 |
| Order types | 8 | 6 |
| Options | No | No |
| Mobile app | No | No |
| Testnet or demo | No | No |
| Vaults or copy trading | No | No |
| Insurance fund | No | No |
| Audited | Yes | Yes |
| Restricted jurisdictions | 6 | 9 |
| Founded | 2023 | 2021 |
Choose Veranta if
- You mostly use market orders: 0.045% taker fee against 0.06% on GMX.
- You place limit orders: 0.001% maker fee against 0.04% on GMX.
- You want higher leverage: up to 500x against 100x.
- You trade smaller or newer markets: 148 perpetual pairs against 103.
Choose GMX if
- You trade size and need liquidity: $83M in 24-hour volume against $50M.
- You want spot and perpetuals in one account.
- You want to post margin in more than one asset.
Veranta
PROS
- + Zero maker and taker fees on forex, commodities, indices and equities while those markets are in growth mode (spread and funding still apply)
- + Crypto fees of 0.045% taker and 0.001% maker per side, where maker means a trade that reduces open-interest skew
- + Upside Perps on BTC, ETH, SOL, XRP and HYPE: no opening, closing or borrow fees, and traders keep 75% to 95% of profit on winning trades
CONS
- − Deployed on Base only, and USDC is the only accepted collateral
- − Fixed-fee leverage on crypto majors is capped at 50x and altcoins at 40x; higher crypto leverage requires Upside Perps, which take 5% to 25% of profit
- − Profit on a single position is capped at 2500% of collateral on most markets, and positions are liquidated at an 85% loss
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
Frequently Asked Questions
Is Veranta or GMX better?
GMX has a higher rating (4.4 vs 3.5). Veranta offers lower fees (0.045% vs 0.06%). Choose Veranta for lower fees, and GMX for its features.
What are the fees on Veranta vs GMX?
Veranta charges 0.045% taker / 0.001% maker. GMX charges 0.06% taker / 0.04% maker for perpetuals.
Which has higher leverage, Veranta or GMX?
Veranta offers up to 500x, and GMX offers up to 100x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Veranta and GMX require KYC?
Veranta does not require KYC. GMX does not require KYC. Both restrict some jurisdictions (Veranta lists 6; GMX lists 9), so check the terms of service for your country before depositing.
Is Veranta or GMX safer?
Veranta has been audited and has no insurance fund on record here, and custody is non-custodial. GMX has been audited and has no insurance fund on record here, and custody is non-custodial. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, Veranta or GMX?
Veranta recorded $50M in 24-hour volume and GMX recorded $83M, as of 2026-10-04. Veranta lists 148 perpetual markets and GMX lists 103.