How to start trading on GMX

1. Create an account

1. GMX does not use a username or password; you trade from a crypto wallet. If you have no wallet, the docs suggest Rabby or an integrated wallet created in the GMX connect flow, which can be secured with a passkey (Face ID, Touch ID, Windows Hello or Android biometrics). source ↗
2. Press "Connect wallet" on the Trade page at app.gmx.io. Wallets that support WalletConnect can connect by scanning a QR code. source ↗

2. Deposit collateral

1. GMX markets run on Arbitrum, Avalanche and MegaETH. If your wallet is on one of these chains, you can trade directly with the tokens in your wallet, with no separate deposit step. source ↗
2. From Ethereum, Base or BNB Chain you can deposit into a GMX Account, a trading balance on Arbitrum. Supported deposits: USDC, USDT, ETH from Ethereum; USDC, ETH from Base; USDC, USDT from BNB Chain. Funds are bridged automatically via Stargate and LayerZero, and bridging is limited by Stargate liquidity caps. source ↗
3. Classic trading needs the network's gas token (ETH on Arbitrum and MegaETH, AVAX on Avalanche). With Express Trading, network fees can instead be paid in USDC, USDT or WETH on Arbitrum. source ↗

3. Open your first position

1. On the Trade page pick the market, choose Long or Short, and choose an order type: Market, Limit, or (under "More") Stop Market or TWAP. source ↗
2. At the top of the trade box choose the pool (for example BTC-USDC or BTC-USDT) and the collateral token. Click the leverage value to set leverage with a slider or a typed number; with Manual leverage on, setting leverage and margin calculates the position size. source ↗
3. You can add a basic Take-Profit/Stop-Loss in the trade box before opening. Expand "Execution details" to check the liquidation price, fees, network fee and allowed slippage before you submit. source ↗

4. Know how liquidation works

1. GMX has no order book: prices come from Chainlink Data Streams oracles. Long liquidations use the lower oracle price (minPrice) and short liquidations the higher one (maxPrice); the displayed mark price is the midpoint and is not used for triggering or execution. source ↗
2. A position is liquidated when collateral after losses and fees falls below the market minimum (0.25%–1% of size, with an absolute USD floor). Borrow and funding fees accrue over time and move the liquidation price closer. source ↗

5. Withdraw

1. To take money out of a position, click the edit button next to its collateral to withdraw collateral, or close the position with the "Market" or "TWAP" button; closing pays out to your wallet. source ↗
2. GMX Account funds can be withdrawn to any supported chain regardless of where you deposited (USDC, USDT, ETH to Arbitrum or Ethereum; USDC, ETH to Base; USDC, USDT to BNB Chain). Progress is shown under Transfer history in the account menu. source ↗
3. A same-chain withdrawal from the GMX Account needs ETH in your wallet for gas. A cross-chain withdrawal can fail if the bridge fee rises before it executes; your funds then stay in the GMX Account and you can try again. source ↗

6. Common mistakes

1. If you open a long with non-stablecoin collateral (for example ETH), your liquidation price can move as the collateral's price changes. source ↗
2. A Stop-Loss is not guaranteed to fill before liquidation; in a fast move liquidation can execute first. The docs advise keeping the stop well away from the liquidation price or using lower leverage. source ↗
3. Each trade is a request plus a keeper execution, so you pay a network fee that is overestimated up front; unused gas is refunded automatically. source ↗

Before you trade

Perpetual futures use leverage: a small price move against you can liquidate your collateral. Start with a small amount and low leverage, and read the venue’s current fee and margin pages, which can change after this guide was checked.