Is GMX or Phoenix cheaper?

GMX has the lower taker fee (6 bps vs n/a). Funding rates also affect total cost, so check both before trading.

Which has higher leverage, GMX or Phoenix?

GMX offers more, up to 100x, versus 25x. Higher leverage means higher liquidation risk.

Which is bigger, GMX or Phoenix?

GMX has more listed 24h volume ($175M), which usually means deeper liquidity and less slippage.

Wiki › GMX vs Phoenix

GMX vs Phoenix: which perp DEX is better?

A side-by-side comparison of GMX and Phoenix on fees, leverage, volume, chain and token.

	GMX	Phoenix
24h volume	$175M	$45M
Maker fee	4 bps	n/a
Taker fee	6 bps	n/a
Max leverage	100x	25x
Model	Pool	Orderbook
Chain	Arbitrum	Solana
Token	$GMX	No token
Assets	Crypto	Crypto, Commodities, Stocks

Trade GMX ↗Trade Phoenix ↗

GMX vs Phoenix: which should you choose?

If your priority is cost, GMX wins on taker fees (6 bps). For maximum leverage, GMX goes up to 100x. For depth and liquidity, GMX trades the most volume of the two.

GMX runs a pool on Arbitrum, while Phoenix runs a orderbook on Solana. Read the full profiles: GMX and Phoenix.

FAQ

Is GMX or Phoenix cheaper?: GMX has the lower taker fee (6 bps vs n/a). Funding rates also affect total cost, so check both before trading.
Which has higher leverage, GMX or Phoenix?: GMX offers more, up to 100x, versus 25x. Higher leverage means higher liquidation risk.
Which is bigger, GMX or Phoenix?: GMX has more listed 24h volume ($175M), which usually means deeper liquidity and less slippage.

More comparisons

GMX vs Hyperliquid GMX vs Aster GMX vs Lighter GMX vs Jupiter GMX vs edgeX All venues

Not financial advice. Volume figures are compiled from each venue's public data on our live rankings and may lag; fees, leverage and token status are curated and can change. Always verify on the exchange before trading. Perpetual futures are high risk and leverage can liquidate your position.