—
title: “GMX Funding Rates — Live Perpetual Futures Data (No Funding, Borrowing Rate)”
slug: “gmx-funding-rates”
author: “Funding Alerts Team”
date: 2026-07-02
template: exchange-pillar
target_keyword: “GMX funding rates”
secondary_keywords:
– “GMX perpetual”
– “GMX GLP”
schema_type: Article
—
# GMX Funding Rates — Live
GMX is a **decentralized perpetual exchange on Arbitrum and Avalanche**. It
uses a unique model: **no funding rate** (in the traditional sense). Instead,
positions pay a **borrowing rate** based on the size of the position vs the
liquidity pool.
[fa-exchange-live exchange=”gmx”]
## How GMX Is Different
Most perpetual exchanges (Binance, Bybit, Hyperliquid, dYdX) use a
**funding rate** mechanism. GMX does not.
GMX’s model:
– **Longs and shorts** are matched against a **liquidity pool** (GLP on
Arbitrum/Avalanche, GM on V2)
– **Borrowing fee** is paid by the trader to the pool
– **No longs-pay-shorts or shorts-pay-longs** — the pool absorbs the imbalance
– **Net PnL for the pool** is positive when the imbalance is balanced; can
be negative when one side dominates
This is why GMX is attractive for **delta-neutral yield farming**: you can
long spot + short GMX, capture the borrowing rate as a funding proxy, and
not worry about funding going negative.
## GMX Borrowing Rate (Funding Equivalent)
| Asset | Borrowing Rate (1h) | Annualized |
|——-|———————|————|
| (auto-populated) |
## How to Use GMX for Funding Rate Strategies
**Cash-and-Carry on GMX:**
1. Buy ETH on Binance
2. Bridge to Arbitrum
3. Short ETH perp on GMX
4. Pay borrowing rate instead of receiving funding
5. **Net effect**: still earns the spot-vs-perp spread
**GLP Yield:**
Instead of trading, deposit into GLP (the liquidity pool). You earn:
– Trading fees (variable, ~10-30% APR)
– Borrowing fees from leveraged positions
– EsGMX rewards (token-based, declining)
Risk: GLP holders take the **other side** of every trade, so a sharp
move against the pool can cause impermanent loss.
## GMX vs Other DEX Perps
| Feature | GMX | Hyperliquid | dYdX |
|———|—–|————-|——|
| Mechanism | Borrowing rate | Funding | Funding |
| Liquidity provider risk | Yes (LPs) | No | No |
| Slippage on large orders | Higher | Lower | Lowest |
| Best for | Yield farmers | Arbitrageurs | Traders |
## GMX FAQs
### Does GMX have funding rate?
No. GMX uses a **borrowing rate** model. The equivalent cost is paid
continuously and accrues into the position.
### Is GMX profitable for LPs?
GLP has returned 10-50% APR historically, but with significant tail risk
during market crashes.
## Other GMX Resources
– [GMX Official](https://gmx.io)
– [GLP APR Tracker](https://app.gmx.io)
– [Funding Rate Screener](/funding-rate-screener/)
### Related Pages
**Learn the basics:**
– [What Is Funding Rate in Crypto? Complete 2026 Guide](/what-is-funding-rate-crypto-guide/)
– [Top 5 Funding Rate Arbitrage Strategies](/top-funding-rate-arbitrage-strategies-2026/)
– [Hyperliquid vs dYdX vs GMX Comparison](/hyperliquid-vs-dydx-vs-gmx/)
**Track specific coins:**
– [Hyperliquid (HYPE) Funding Rate](/hyperliquid-hype-funding-rate/)
– [Sui (SUI) Funding Rate](/sui-funding-rate/)
– [Arbitrum (ARB) Funding Rate](/arbitrum-arb-funding-rate/)
– [Optimism (OP) Funding Rate](/optimism-op-funding-rate/)
– [Toncoin (TON) Funding Rate](/toncoin-ton-funding-rate/)
**Compare with other exchanges:**
– [Hyperliquid Funding Rates](/hyperliquid-funding-rates/)
– [dYdX Funding Rates](/dydx-funding-rates/)
– [Kraken Funding Rates](/kraken-funding-rates/)
– [KuCoin Funding Rates](/kucoin-funding-rates/)
—
## Disclaimer
GMX carries smart contract risk. Past returns do not guarantee future
results.
👉 See the live TON funding rate page for full cross-exchange data.