GMX vs Axiom
GMX is pool-based, with a 0.04%-0.06% position fee on perps. Axiom charges 1% per spot trade. GMX requires no KYC, while Axiom may ask for identity checks.
Pool-based perpetuals priced by Chainlink oracles on Arbitrum, Avalanche, and MegaETH, with gold, oil, and index markets.
Browser trading terminal for new tokens: one-click buys and limit orders on Solana and seven other chains, wallet and X tracking, and a perps tab on Hyperliquid.
| Criterion | GMX | Axiom |
|---|---|---|
| Fee model | Pool-based | Per transaction |
| Base fee | 0.04%-0.06% position fee on perps | 1% per spot trade |
| KYC | No KYC | Checks may apply |
| Restricted countries | United States | Sanctions rules only |
| Leverage | Up to 100x, capped per market | Hyperliquid's caps, up to 40x |
| Markets | 100+ perpetual markets on Arbitrum, plus swaps | Tokens on Solana and seven other chains, perps on Hyperliquid |
How GMX and Axiom compare
Every fact links to the page it comes from.
| Criterion | GMX | Axiom |
|---|---|---|
| Fees | 0.04%-0.06%Position fee. Position changes on most crypto markets The position fee is charged on position size each time you open, close, increase, or partly close: 0.04% when the trade brings long and short open interest closer together and 0.06% when it widens the gap. Gold, silver, oil, and index markets have their own rates, which change with market hours. Price impact, borrowing, funding, and the keeper's network fee are separate, so the position fee on its own understates the cost of a trade. | 1%Trading fee. Spot trades on every chain, perps listed separately Every spot trade pays 1% to Axiom, on every supported chain, before cashback: the SOL rebate runs from 0.05% of trade value at the entry tier to 0.25% at the top, so the net fee is 0.95% to 0.75%, and a referral signup takes a further 10% off. Solana priority fees and bribes, or gas on the other chains, come on top. Perps on Hyperliquid pay 0.01% per transaction plus Hyperliquid's fee and funding. The Terms let fees change without notice and treat the quoted cost as an estimate. Docs: Axiom fees (cashback tiers)Docs: referral program (1% base fee, 10% discount)Docs: Solana fees (priority fee, bribe, MEV modes)Docs: perpetuals deposit (0.01% perps fee)Docs: staking (validator and axiSOL fees)Terms of Use: FeesDefiLlama fee adapter: the 1% taken at swap time on BNB Chain and Robinhood Chain |
| KYC | No KYC You connect a wallet (MetaMask, WalletConnect, Coinbase Wallet, and others) or log in with an email address, a social account, or a passkey, which creates an embedded wallet for you. Neither path includes an identity check. The Terms, last modified August 20, 2026, have no identity-verification clause and say GMX does not collect personal data. Buying crypto with a card inside the app goes through a third-party provider with its own rules, where available. | Checks may apply You sign up with an email code, a Google account, or a Phantom wallet, set a password, and are shown a recovery phrase. No identity document is asked for, and the wallet keys are yours to export. Buying SOL by debit card or Apple Pay through Coinbase inside the app needs no KYC up to $500 a week, according to Axiom's FAQ, while the MoonPay route verifies identity under MoonPay's rules. The Terms, dated February 26, 2026, reserve the right to run KYC and anti-money-laundering checks at Axiom's discretion, naming passports, driving licences, and utility bills as examples, and the Privacy Policy says wallet addresses are screened for illicit activity. Docs: signup (email, Google, or Phantom, and a recovery phrase)Docs: buy crypto (up to $500 without KYC)Docs: FAQs (Coinbase purchases, Turnkey wallet)Terms of Use: Know Your Customer and Anti-Money Laundering ChecksPrivacy Policy, section 1.1: wallet screeningMoonPay help center: how to verify your MoonPay account |
| Country restrictions | 1+ countries restricted The Terms, last modified August 20, 2026, require that you are not a U.S. Person and, citing the Commodity Exchange Act, say no U.S. Person may enter into perpetual contracts through the interface. They also exclude residents, nationals, and agents of any country embargoed or similarly sanctioned by the US, the UK, or the EU, without naming those countries, and anyone on a US, UK, EU, or UN sanctions list. You promise not to use a VPN or any other tool to get around the restrictions. | Sanctions rules only The Terms, dated February 26, 2026, name no country. They bar anyone on a US, EU, or UK sanctions list, anyone located in, resident in, or organized in a jurisdiction under comprehensive sanctions or designated as terrorist-supporting by the UN, EU, UK, or US, and anyone under 18, and they let Axiom restrict any person or region at its discretion. Using a VPN to get around a restriction is a breach. The previous Terms, dated February 26, 2025, named the United States, China, Singapore, and sixteen other countries and regions. The current version carries no such list. |
| Leverage | Up to 100x, capped per market The headline cap is 100x. Each market's own cap is derived from its collateral factors, rounded down to a 5x step, and falls as the pool's open interest grows, so thinner markets allow less. Gold, silver, WTI, and Brent allow 100x during market hours and 25x off-hours, QQQ and SPY 50x and 25x, natural gas 40x and 20x, and the SpaceX market 10x. Each position is margined on its own collateral, in a stablecoin or the market's own token, and you can add or withdraw collateral, including a deposit that triggers at a price you set. A position is liquidated when its remaining collateral falls below 0.25% to 1% of size, and the liquidation fee is 0.2% to 0.45% of size. | Hyperliquid's caps, up to 40x Perps run on Hyperliquid, so each market's maximum leverage is Hyperliquid's: a whole number up to a per-asset cap that tops out at 40x on BTC and steps down on large positions, under Hyperliquid's margin rules and hourly funding. Axiom's own perps page, last updated in April 2025, still says up to 50x, but the venue's current cap governs. Open positions show entry, mark, and liquidation prices and take-profit and stop-loss levels in Axiom's perps portfolio. |
| Markets | 100+ perpetual markets on Arbitrum, plus swaps The Oracle API listed 108 perpetual markets on Arbitrum on September 25, 2026: about 100 crypto assets and eight TradFi markets (gold, silver, WTI and Brent crude, natural gas, the QQQ and SPY index ETFs, and a SpaceX stock market), several with more than one pool to choose from. Avalanche had 12 markets and MegaETH 4. TradFi markets trade around the clock with tighter risk limits outside market hours. Spot swaps run through the same pools, with KyberSwap routing when it pays more. Order types: market, limit, stop market, TWAP in 2 to 30 parts, and take-profit and stop-loss, plus conditional margin deposits. Limit and trigger orders execute against the Chainlink oracle price when it reaches your level and do not rest in a book. | Tokens on Solana and seven other chains, perps on Hyperliquid Spot trading covers tokens on Solana, where the terminal started, with pump.fun launches, tokens nearing migration, and fresh Raydium pairs surfaced in Pulse, plus the other chains the app lists: BNB Chain (added October 23, 2025), Ethereum, Base, Robinhood Chain, Ink, Arc, and HyperEVM, as shown in the app's chain selector on September 26, 2026. Spot order types are market orders, limit orders, buy-on-migration and sell-on-migration snipes, and auto-strategies that place a buy and its limit orders in one click. The Perpetuals tab opens long or short positions on Hyperliquid's markets. |
| Depositing | Straight from a wallet on Arbitrum, Avalanche, or MegaETH There is no exchange balance to fund for direct trading: connect a wallet on Arbitrum, Avalanche, or MegaETH, and the tokens in it (USDC, USDT, ETH, BTC, and each pool's other collateral tokens) serve as margin. From Ethereum, Base, or BNB Chain you deposit USDC, USDT, or ETH into a GMX Account, a separate trading balance on Arbitrum that Stargate and LayerZero bridge for you. It is not available on Avalanche or MegaETH, and bridging is limited by Stargate's liquidity caps. The app's Receive flow can also buy crypto with a card, Apple Pay, or Google Pay through a third-party provider where available. Classic mode needs ETH or AVAX for gas, while Express mode lets you pay gas in USDC. | SOL to your wallet, or a card via Coinbase or MoonPay The Axiom wallet is created at signup, so funding it means sending SOL, or tokens on another supported chain, to the address the app shows. Inside the app, Buy opens Coinbase's checkout for a debit card or Apple Pay purchase of SOL, which Axiom's FAQ says needs no KYC up to $500 a week. Coinbase's own developer docs say its hosted guest checkout was discontinued on June 30, 2026, and Axiom's FAQ still shows the $500 figure. MoonPay has been a second route since October 2025, taking cards, bank transfers, Apple Pay, Google Pay, PayPal, and Venmo under MoonPay's identity checks. Perps collateral is separate: you convert SOL into USDC on Hyperliquid from the wallet menu, which takes about five minutes. Docs: signup (deposit SOL or buy through Coinbase)Docs: buy cryptoAxiom homepage FAQ: buying up to $500 a week without KYCCoinbase developer docs: hosted guest checkout discontinued June 30, 2026MoonPay newsroom: MoonPay is now live on AxiomDocs: perpetuals deposit (convert SOL to USDC on Hyperliquid) |
| Withdrawing | None from a wallet, bridged out of a GMX Account When you trade from your wallet there is nothing to withdraw: closing a position returns the collateral and any profit to the wallet, less the position fee, price impact, and the keeper's network fee. A GMX Account balance can be withdrawn as USDC, USDT, or ETH to Arbitrum, Ethereum, Base, or BNB Chain, whichever chain you deposited from. The docs do not publish the bridge cost, and transfers depend on Stargate liquidity. | Send from your own wallet, no Axiom fee published There is no withdrawal step. The Axiom wallet is yours, so leaving means sending SOL or tokens to any address and paying the network fee, or importing the recovery phrase into Phantom, Solflare, or Rabby, which Axiom's own signup guide recommends so you always have direct access. Axiom publishes no withdrawal fee of its own. Perps collateral comes back by converting USDC on Hyperliquid to USDC on Solana from the wallet menu, in about five minutes. The axiSOL staking pool charges 0.1% on withdrawals, and yield balances at Marginfi are advertised as instantly withdrawable. |
| Referral program | 5% or 10% off position fees A referral code takes 5% off opening and closing fees with a Tier 1 code and 10% with a Tier 2 or Tier 3 code, and the referrer earns 5% to 15% of those fees. Borrow and funding fees are not discounted. Without a code, GMX assigns an automatic 5% discount at $50M of lifetime volume on Arbitrum and 10% at $250M. A code stops paying its referrer after 12 months or $20,000 in rewards, but your discount carries on. No ChainScouter code is active. | 10% off trading fees Signing up through another user's link takes 10% off trading fees on every trade. The referrer earns 30% of Axiom's net fee on trades by the people they referred directly, 3% on the next level, and 2% on the level after that, on Solana, BNB Chain, and Ethereum trading, with some tokens excluded. Trading itself earns SOL cashback by tier and points toward a leaderboard. The Terms let Axiom change, pause, or withhold rewards before they are claimed. No ChainScouter code is active. |
| Platform | Web app, installable on phones The official interface is the web app at app.gmx.io, built as a progressive web app you can add to a phone's home screen. The docs list no native iOS or Android app. There are three trading modes. In Classic, your wallet signs every transaction. In Express, you sign messages and GMX's own relay submits them. Express with One-Click Trading adds a sub-account key, stored in your browser, that signs for you up to a limit you set. Developers get a public API, a TypeScript SDK, and published skills for AI agents. | Web app that installs on phones Axiom is a browser terminal at axiom.trade built for a desktop screen: a chart with the order box beside it, one-click and hotkey buys and sells, limit orders you can drag on the chart, the Pulse feed of new launches and migrations, a wallet tracker, an X account monitor, several wallets under one login, and a Perpetuals tab. You sign in with an email code, Google, or Phantom plus a password. The site ships a web manifest, so on a phone it installs to the home screen as an app. No native iOS or Android app is documented, and Axiom's site links to no app store listing. Support runs through a Discord ticket channel and the X account. |
Rates apply to the accounts and markets in each scope, before discounts. Network, funding, execution, and transfer costs are separate. A country missing from a restriction list is not confirmed eligible.
Questions about GMX and Axiom
Is GMX or Axiom cheaper?
Axiom's headline rate is for spot trades and GMX's for perps, so they do not line up. Network, funding, execution, and transfer costs are separate.
GMX: The position fee is 0.04% to 0.06%. The position fee is charged on position size each time you open, close, increase, or partly close: 0.04% when the trade brings long and short open interest closer together and 0.06% when it widens the gap. Gold, silver, oil, and index markets have their own rates, which change with market hours. Price impact, borrowing, funding, and the keeper's network fee are separate, so the position fee on its own understates the cost of a trade.
Axiom: The standard trading fee is 1% per trade. Every spot trade pays 1% to Axiom, on every supported chain, before cashback: the SOL rebate runs from 0.05% of trade value at the entry tier to 0.25% at the top, so the net fee is 0.95% to 0.75%, and a referral signup takes a further 10% off. Solana priority fees and bribes, or gas on the other chains, come on top. Perps on Hyperliquid pay 0.01% per transaction plus Hyperliquid's fee and funding. The Terms let fees change without notice and treat the quoted cost as an estimate.
Do GMX and Axiom require KYC?
GMX requires no KYC, while Axiom may ask for identity checks.
GMX: You connect a wallet (MetaMask, WalletConnect, Coinbase Wallet, and others) or log in with an email address, a social account, or a passkey, which creates an embedded wallet for you. Neither path includes an identity check. The Terms, last modified August 20, 2026, have no identity-verification clause and say GMX does not collect personal data. Buying crypto with a card inside the app goes through a third-party provider with its own rules, where available.
Axiom: You sign up with an email code, a Google account, or a Phantom wallet, set a password, and are shown a recovery phrase. No identity document is asked for, and the wallet keys are yours to export. Buying SOL by debit card or Apple Pay through Coinbase inside the app needs no KYC up to $500 a week, according to Axiom's FAQ, while the MoonPay route verifies identity under MoonPay's rules. The Terms, dated February 26, 2026, reserve the right to run KYC and anti-money-laundering checks at Axiom's discretion, naming passports, driving licences, and utility bills as examples, and the Privacy Policy says wallet addresses are screened for illicit activity.
Can I use GMX or Axiom in the US?
GMX names the US as restricted. Axiom does not name the US, which is not the same as confirmed eligibility.
GMX: The Terms, last modified August 20, 2026, require that you are not a U.S. Person and, citing the Commodity Exchange Act, say no U.S. Person may enter into perpetual contracts through the interface. They also exclude residents, nationals, and agents of any country embargoed or similarly sanctioned by the US, the UK, or the EU, without naming those countries, and anyone on a US, UK, EU, or UN sanctions list. You promise not to use a VPN or any other tool to get around the restrictions.
Axiom: The Terms, dated February 26, 2026, name no country. They bar anyone on a US, EU, or UK sanctions list, anyone located in, resident in, or organized in a jurisdiction under comprehensive sanctions or designated as terrorist-supporting by the UN, EU, UK, or US, and anyone under 18, and they let Axiom restrict any person or region at its discretion. Using a VPN to get around a restriction is a breach. The previous Terms, dated February 26, 2025, named the United States, China, Singapore, and sixteen other countries and regions. The current version carries no such list.
What leverage do GMX and Axiom offer?
GMX: The headline cap is 100x. Each market's own cap is derived from its collateral factors, rounded down to a 5x step, and falls as the pool's open interest grows, so thinner markets allow less. Gold, silver, WTI, and Brent allow 100x during market hours and 25x off-hours, QQQ and SPY 50x and 25x, natural gas 40x and 20x, and the SpaceX market 10x. Each position is margined on its own collateral, in a stablecoin or the market's own token, and you can add or withdraw collateral, including a deposit that triggers at a price you set. A position is liquidated when its remaining collateral falls below 0.25% to 1% of size, and the liquidation fee is 0.2% to 0.45% of size.
Axiom: Perps run on Hyperliquid, so each market's maximum leverage is Hyperliquid's: a whole number up to a per-asset cap that tops out at 40x on BTC and steps down on large positions, under Hyperliquid's margin rules and hourly funding. Axiom's own perps page, last updated in April 2025, still says up to 50x, but the venue's current cap governs. Open positions show entry, mark, and liquidation prices and take-profit and stop-loss levels in Axiom's perps portfolio.
What can I trade on GMX and Axiom?
GMX: The Oracle API listed 108 perpetual markets on Arbitrum on September 25, 2026: about 100 crypto assets and eight TradFi markets (gold, silver, WTI and Brent crude, natural gas, the QQQ and SPY index ETFs, and a SpaceX stock market), several with more than one pool to choose from. Avalanche had 12 markets and MegaETH 4. TradFi markets trade around the clock with tighter risk limits outside market hours. Spot swaps run through the same pools, with KyberSwap routing when it pays more. Order types: market, limit, stop market, TWAP in 2 to 30 parts, and take-profit and stop-loss, plus conditional margin deposits. Limit and trigger orders execute against the Chainlink oracle price when it reaches your level and do not rest in a book.
Axiom: Spot trading covers tokens on Solana, where the terminal started, with pump.fun launches, tokens nearing migration, and fresh Raydium pairs surfaced in Pulse, plus the other chains the app lists: BNB Chain (added October 23, 2025), Ethereum, Base, Robinhood Chain, Ink, Arc, and HyperEVM, as shown in the app's chain selector on September 26, 2026. Spot order types are market orders, limit orders, buy-on-migration and sell-on-migration snipes, and auto-strategies that place a buy and its limit orders in one click. The Perpetuals tab opens long or short positions on Hyperliquid's markets.
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