Head to head
the arrow points to the better figure| GMX | Deribit | |
|---|---|---|
| Trading | ||
| — | BTC trade, $10k | $7.06 |
| — | BTC trade, $1M | $1,461 |
| — | BTC book depth | $46.5M |
| 0.060%/0.040% | Taker / maker▶ | 0.035%/0.015% |
| 100x | ◀Max leverage | 50x |
| Size | ||
| $68.6M | Volume 24h▶ | $12.68B |
| $62.5M | Volume, 7-day average▶ | $9.13B |
| $48.9Mlongs + shorts | Open interest | $1.33Bone side |
| $203.8M | TVL | — |
| Markets | ||
| 124 | Markets▶ | 144 |
| 8 | Stocks & RWA▶ | 42 |
| 1h | Funding paid every | 1h |
| L +0.0192% / S −0.0171% | BTC funding /8h | +0.0132% |
| +1.294% | BTC longs paid, 30d | +0.745% |
| Access | ||
| No ID | ◀KYC | Required |
| $GMX | Token | none yet |
| Not active | Airdrop | — |
Cost to trade BTC
| Size | GMX | Deribit |
|---|---|---|
| $1k | — | $0.717.1 bp |
| $10k | — | $7.067.1 bp |
| $100k | — | $78.347.8 bp |
| $1M | — | $1,46114.6 bp |
| $5M | — | $15,57631.2 bp |
BTC funding per day
pair pageSize
daily, last 90 daysVolume by asset class
last 90 daysOn both: 74
funding /8h · Net 7d at $10k| Asset | GMX | Deribit | Spread | Net 7d |
|---|---|---|---|---|
| BTC | L +0.0192% / S −0.0171% | +0.0196% | +0.0004% | — |
| ETH | L +0.0225% / S −0.0205% | 0.0000% | +0.0205% | — |
| SOL | L +0.0130% / S −0.0123% | 0.0000% | +0.0123% | — |
| LINK | L +0.0192% / S −0.0146% | 0.0000% | +0.0146% | — |
| SUI | L +0.0492% / S −0.0194% | 0.0000% | +0.0194% | — |
| XRP | L +0.0336% / S −0.0214% | +0.0102% | +0.0112% | — |
| ONDO | L +0.0430% / S −0.0145% | −0.0282% | +0.0427% | — |
| ZEC | L −0.0139% / S +0.0166% | 0.0000% | +0.0139% | — |
| ARB | L +0.0073% / S +0.0019% | 0.0000% | −0.0019% | — |
| DOGE | L +0.0196% / S −0.0117% | 0.0000% | +0.0117% | — |
| AVAX | L +0.0368% / S −0.0085% | +0.0354% | −0.0014% | — |
| HYPE | L +0.0121% / S −0.0097% | +0.0051% | +0.0046% | — |
| NEAR | L +0.0339% / S −0.0052% | +0.0230% | −0.0109% | — |
| ADA | L +0.0535% / S −0.0248% | 0.0000% | +0.0248% | — |
| VVV | L +0.0377% / S −0.0196% | −0.0108% | +0.0303% | — |
| TAO | L +0.0331% / S −0.0184% | 0.0000% | +0.0184% | — |
| AAVE | L +0.0310% / S −0.0149% | 0.0000% | +0.0149% | — |
| LIT | L −0.0044% / S +0.0273% | 0.0000% | +0.0044% | — |
| UNI | L +0.0246% / S −0.0250% | 0.0000% | +0.0250% | — |
| AERO | L +0.0326% / S −0.0013% | +0.1930% | +0.1604% | — |
Only on GMX: 28
NATGAS · XMR · GMX · CVX · XAUT.V2 · SYRUP · STX · CRO · ZRO · CAKE · CC · SPX · KAS · DOLO · AIXBT · MNT · SKY · AR · ORDI · OKB · ZORA · FLOKI · ANIME · MET · 0G · CHZ · LINEA · MOODENG
Only on Deribit: 68
EURC · PAXG · SOXL · CRCL · GOOGL · ANTHROPIC · MSTR · MU · BE · INTC · NVDA · MSFT · LITE · SNDK · OPENAI · CBRS · KORU · AAPL · TSLA · EWY · AMZN · NBIS · DRAM · META · COIN50 · SOXS · SNXX · SKHY · ETHFI · TSM · MRVL · AMD · ORCL · HOOD · DELL · PLTR · ARM · AVGO · MERL · CRWV · STRK · PNUT · PYTH · BILL · ETC · PONS · INX · BOME · W · CHIP · BONK · RESOLV · MOG · ALT · COMP · PRL · SAGA · OPG · NIGHT · TOWNS · and 8 more
Questions
Which has more markets, GMX or Deribit?
GMX lists 124 active markets and Deribit 144; 74 assets trade on both, 7 of them stocks, commodities or other real-world assets.
Does GMX or Deribit require KYC?
GMX: No ID. Deribit: ID, proof of address and a financial profile before any deposit; not for the US, Canada, Japan or retail UK clients.
Can you arbitrage funding between GMX and Deribit?
Not profitably right now: none of the 74 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, GMX or Deribit?
24-hour volume: GMX $68.6M, Deribit $12.68B. Open interest as each reports it: $48.9M and $1.33B. GMX reports open interest as the sum of its traders' longs and shorts; Deribit reports one side. For the same positions GMX's figure reads about twice as large. TVL: $203.8M and none published.