Venues / GMX

GMX alternatives: cheaper and similar options (Oct 2026)

Why look beyond GMX

• Holding costs include hourly borrow fees, priced from 45-55%/yr below 75% utilization on typical markets.
• GMX V1's GLP pool lost about $42 million to an exploit in July 2025 before funds were returned.
• Thin markets can carry negative price impact caps of up to 10%.
• Every trade pays a keeper network fee on top of the position fee.

Cheaper than GMX

Lighter 0%, Paradex 0%, Ostium 0.06%, Aster 0.08%, Pacifica 0.08%, Hyperliquid 0.09%, Avantis 0.09%, edgeX 0.09% — against GMX at 0.12% per round trip. Platform fee only; spreads and network fees are extra.

The alternatives

1. Lighter

   Perp DEXSelf-custody

   Ethereum · 0% round trip · US: not available

   Non-US, non-UK retail perps traders who want zero trading fees and can accept slower taker execution than paid accounts.

   + The default Standard account charges 0% maker and 0% taker on perps and spot.

   Open Lighter — 10% off fees

2. Paradex

   Perp DEXSelf-custody

   Paradex · 0% round trip · US: not available

   Non-US traders who place orders manually through a web UI and want zero-fee perps plus options from one margin account.

   + Retail orders pay 0% maker and 0% taker on perps, spot and options.

   Open Paradex

3. Ostium

   Perp DEXSelf-custody

   Arbitrum · 0.06% round trip · US: not available

   Traders who want onchain leveraged exposure to stocks, forex, commodities and indices from a self-custodied wallet, outside the US.

   + Covers 75 pairs across stocks, ETFs, commodities, indices, forex and crypto, which most crypto perp venues do not list.

   Open Ostium

4. Aster

   Perp DEXSelf-custody

   Aster Chain · BNB Chain · Arbitrum · 0.08% round trip · US: not available

   Non-US, non-UK traders who want zero maker fees on order-book perps, very high leverage modes, or privacy-shielded orders.

   + Maker fees are 0% at every VIP tier on order-book perps since February 2026.

   Open Aster

5. Pacifica

   Perp DEXSelf-custody

   Solana · 0.08% round trip · US: not available

   Solana perp traders who want a published volume ladder, 50x leverage on majors and exposure to RWA and pre-IPO markets, and who are outside the United States.

   + Fee schedule is published with eight tiers and a 0% maker fee at the VIP tiers.

   Open Pacifica

6. Hyperliquid

   Perp DEXSelf-custody

   Hyperliquid · 0.09% round trip · US: not available

   Perps traders outside the US who want onchain order-book trading from their own wallet, with fees that drop by volume and HYPE staking.

   + Base perps fees are 0.045% taker / 0.015% maker, falling to 0.024% / 0% at the top volume tier.

   Open Hyperliquid — 4% off fees · GMX vs Hyperliquid

7. Avantis

   Perp DEXSelf-custody

   Base · 0.09% round trip · US: unverified

   Traders who want crypto, forex, commodities and US or Korean equity exposure from one USDC balance on Base.

   + Zero maker and taker commission on real-world asset markets while in growth mode.

   Open Avantis

8. edgeX

   Perp DEXSelf-custody

   Ethereum · 0.09% round trip · US: not available

   Non-US, non-Canadian perps traders who want an Ethereum-settled order book with stock and forex perps and an email login option.

   + Settles to Ethereum, with V1 built on the StarkEx ZK-rollup engine and V2 anchoring state roots to Ethereum L1.

   Open edgeX

Cost compared