If you're trading on GMX, you should activate a referral code before your first trade. The code PRO gives you a 10% discount on position fees — the maximum discount available on the platform.
Sign up here: https://app.gmx.io/#/trade/?ref=PRO
Here's everything you need to know about the GMX referral system, how the discount actually works, and why most articles about this topic get the numbers wrong.
How to Activate the Code
Takes about 30 seconds:
- Go to app.gmx.io
- Connect your wallet (MetaMask, Rabby, Coinbase Wallet, etc.)
- Enter PRO in the referral code field
- Confirm the on-chain transaction
Done. The discount applies automatically to every trade from that point on. It's permanent — tied to your wallet address on that network.
One thing to note: you need to register the code separately on each chain. If you trade on both Arbitrum and Avalanche, enter it on both.
What You Actually Get (And Why Other Articles Are Wrong)
You'll find tons of articles claiming GMX referral codes give "20% off." That's not accurate. GMX uses a tier system, and the discount depends on the affiliate tier behind the code.
Here's the breakdown straight from the official GMX docs:
| Tier | Trader Discount | Affiliate Reward |
|---|---|---|
| Tier 1 | 5% | 5% |
| Tier 2 | 10% | 10% |
| Tier 3 | 10% | 15% |
Anyone can create a Tier 1 code. Tier 2 requires 15+ weekly active users and $5M+ weekly volume. Tier 3 needs 30+ users and $25M+.
The code PRO is Tier 2, so you get the full 10% discount — the maximum a trader can receive on GMX.
The discount applies to position fees only (the fee you pay when opening and closing leveraged trades). It doesn't cover borrowing fees or funding fees.
How Much Does It Save You?
GMX V2 charges around 0.05%–0.07% per position open/close. With a 10% discount:
| Position Size | Fee (0.07%) | With 10% Off | Saved |
|---|---|---|---|
| $10,000 | $7.00 | $6.30 | $0.70 |
| $50,000 | $35.00 | $31.50 | $3.50 |
| $100,000 | $70.00 | $63.00 | $7.00 |
These apply on both open and close, so double it for a round-trip. If you're trading $100K positions a few times per day, you're saving $40-50+ daily just from the referral code.
Quick GMX Overview (If You're New)
GMX is a decentralized perpetual futures exchange. Some key numbers as of 2026:
- $345B+ lifetime trading volume
- 735,000+ users
- 100x max leverage (V2)
- 100+ perp and spot markets
- $260M+ TVL in liquidity pools
- Zero KYC — connect wallet, start trading
- Non-custodial — your funds stay in your wallet
It runs on Arbitrum, Avalanche, Solana, Base, BNB Chain, and Ethereum through the GMX Multichain rollout (powered by LayerZero). So you can trade from basically any major EVM chain without manually bridging.
GMX uses Chainlink oracles for price feeds instead of an order book. This means no scam wicks, no price manipulation from single-exchange flash crashes. Your liquidation price is based on aggregated oracle data from multiple sources.
GMX Fees vs Other Platforms
| Platform | Taker Fee | Maker Fee | Gas Fees | Custody |
|---|---|---|---|---|
| GMX V2 | 0.05-0.07% | 0.05-0.07% | ~$0.01 (Arbitrum) | Non-custodial |
| Binance | 0.10% | 0.10% | N/A | Centralized |
| Bybit | 0.055% | 0.02% | N/A | Centralized |
| Hyperliquid | 0.045% | 0.015% rebate | None | Non-custodial |
| dYdX | 0.05% | 0.02% | None | Non-custodial |
GMX's fees are competitive, and with the 10% referral discount they drop even lower. The main advantage over CEXs is custody — your funds never leave your wallet.
Things to Know Before Trading
Enter the code before your first trade. You can't add a referral code retroactively. The first code you register is permanent.
Trade on Arbitrum for cheapest gas. Gas fees on Arbitrum are typically under $0.01 per transaction.
Use limit orders when possible. This helps you control entry price and avoid paying unnecessary gas during volatile periods.
Provide liquidity if you're not actively trading. GM and GLV pools let you earn a share of all trading fees paid by traders. Rewards are in ETH, USDC, or AVAX — real yield, not token emissions.
GMX Express (1-click trading) lets you trade with gas abstraction. Fees are paid in USDC/USDT/ETH instead of native gas tokens.
FAQ
Does the code expire?
No. It's permanently linked to your wallet.
Can I change my code later?
No. First code is final.
Does the discount apply to all fees?
Only position fees (open/close). Not borrowing or funding fees.
Is the discount automatic?
Yes. On V2, it's deducted at trade execution. Nothing to claim.
Do I need KYC?
No. Wallet connection only.
Links
- Activate code: app.gmx.io/#/referrals — enter PRO
- Trade: app.gmx.io
- Docs: docs.gmx.io
- Analytics: stats.gmx.io
If you have questions about GMX or the referral system, drop a comment. Happy trading.
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