GMX referral code PRO lowers the GMX position fee by 10%, so the 0.04% and 0.06% rates fall to 0.036% and 0.054% of position size. The docs say discounts do not apply to borrow fees or funding fees. The sources list no discount on swap fees, the network fee or price impact. Checked on 12 October 2026 against the GMX docs.

GMX charges a position fee when you open or change a position, and time-based fees while the position stays open. Some apply once per order. Others build up every second. The table gives each item, the rate or the rule that sets it, and the effect of code PRO.

The referral docs state the rule in one line: rewards and discounts do not apply to borrow fees or funding fees. For the full list of what code PRO covers, read the overview of what GMX referral code PRO gives you.

GMX sets the position fee from the open interest balance of the market. The fee is 0.04% or 0.06% of position size. GMX charges it when you open, close, increase or partially decrease a position.

The lower rate goes to trades that make the market more balanced. Suppose long open interest is larger than short open interest. A new short reduces the gap, so it pays 0.04%. A new long makes the gap larger, so it pays 0.06%.

The rate can change from one order to the next. Your side of the trade and the current balance decide it. The expected output in the interface already accounts for estimated fees and price impact.

Code PRO takes 10% off the GMX position fee. A 0.04% fee becomes 0.036%. A 0.06% fee becomes 0.054%. The cut applies at every step that carries a position fee: opening, closing, increasing and partially decreasing.

GMX deducts the discount from the position fee at execution. You have nothing to claim later. The sources promise no discount on orders that you placed before the code was active.

The code starts to work at the first order with a valid code. Opening the referral link stores PRO in the browser. GMX then writes the code to the contract with that first order. The step-by-step GMX referral guide shows each step, and how to confirm that PRO is active.

GMX position fees grow with position size, so the PRO saving grows with it too. Each row names the size and the rate that applies.

A round trip pays the position fee twice, once to open and once to close. Borrow and funding fees come on top of these figures, and the docs say discounts do not apply to them.

GMX TradFi markets use their own position fee rates, and those rates change with market hours. Each cell lists two rates, as the GMX docs print them.

On the metals and oil markets, the on-hours rates are well below the off-hours rates. The GMX docs keep a separate TradFi page with the per-market details.

GMX borrow fees are charged on open positions, and only the side with the larger open interest pays them. If longs exceed shorts, longs pay. If shorts exceed longs, shorts pay. The fee stops traders from reserving all pool liquidity with equal long and short positions at low cost.

The trade interface shows the current borrow rate as a percentage per hour of position size. The rate changes over time with pool utilization. The fee accrues every second, and GMX settles it when you modify or close the position.

Markets use one of three rate models: a kink model, a linear model with no kink, or a power model. The model is set per market and per side. GMX sends 63% of the borrow fee to the pool for liquidity providers and 37% to the protocol fee receiver.

The docs say discounts do not apply to the borrow fee.

GMX funding fees move between longs and shorts while a position is open, so they can be a cost or a credit. The funding rate is visible in the interface when you open or review a trade. The rate changes over time with the balance of longs and shorts.

GMX uses adaptive funding. The rate adjusts step by step, so a sudden change in open interest does not reverse the direction at once. The side that was larger before can keep receiving funding until the rate catches up.

Funding accrues every second. Settlement happens when a transaction touches the market, for example an order, a deposit or a withdrawal. The docs say discounts do not apply to funding fees.

If you receive positive funding, you claim it yourself. Use the "Claim" button in the "Claimable Funding" box on the Trade page. One claim transaction takes at most 20 entries, so a long list needs a second claim.

GMX swap fees depend on the market type and on whether your swap improves the pool balance. GMX charges every swap fee on the swap input amount. The sources list no PRO discount on swap fees.

Single-token pools, where the long and short token are the same, have no swap fees on any position operation.

GMX adds three more items to the cost of an order: the network fee, price impact and slippage. The sources list no PRO discount on any of them.

Network fee. Each GMX trade uses two transactions: your request and a keeper's execution. The network fee pays the gas for the keeper transaction. The interface charges a maximum fee as a buffer against gas spikes. After execution, the unused part comes back to your account. With Express Trading on, GMX adds a 10% buffer on top of your own setting.

Price impact. GMX charges no price impact when you open a position. Net price impact is applied when you close or decrease. Each market has a cap. The positive cap is 40 bps for most markets. The negative cap is 50 bps on major markets such as BTC, ETH and SOL, and higher on thinner markets. If negative impact on a decrease goes past the cap, the excess becomes a claimable rebate after five days.

Slippage. Slippage on GMX covers only the oracle price move between your request and execution. The default allowed slippage is 1%, the maximum is 5%, and the interface warns you above 2%. Slippage applies to market orders only.

GMX rewards trades that balance the market, so the side and timing of a trade change the bill. The steps below come from the GMX fees and referrals docs.

Limit orders and slippage are separate from price impact. A limit order sets a fixed acceptable price. Net price impact is a separate adjustment that still applies when you close or decrease.

GMX applies code PRO from your first order after you open the referral link. Connect your own wallet on the network you plan to use. GMX has no account, no email and no identity check. The code binds on each network separately, so apply the code on each network that you use.

For a short version of these facts, see the GMX referral code guide on Google Sites. Two slide guides cover the same code: GMX referral code PRO on Gamma and how to use the GMX referral code PRO on Gamma. If you also trade on other venues, compare Hyperliquid fees with code AWD and the Aster referral code 9D087C page.

No. The GMX docs say referral discounts do not apply to borrow fees or funding fees. PRO cuts the position fee.

No. GMX deducts the discount from the position fee when the order executes. You have nothing to claim for the trader discount.

On most markets, your trade made the long and short open interest gap larger. GMX charges 0.06% for that case. A trade that reduces the gap pays 0.04%.

No. Funding can be a cost or a credit, based on the long and short balance. You claim positive funding in the "Claimable Funding" box on the Trade page.

The max network fee includes fees for any take-profit or stop-loss orders. If those orders do not trigger and are canceled, GMX refunds their network fees in full.

No. GMX uses the oracle price at entry. Net price impact, positive or negative, is applied when you close or decrease the position.

GMX perpetual trading is high risk, and a leveraged position can lose the full collateral fast. Borrow and funding fees keep running while a position is open. A fee discount does not protect you from losses. This page gives general information and is not financial advice.

GMX fee rates and rules on this page come from these sources:

We may earn an affiliate reward from GMX when you trade with code PRO. GMX pays it from the position fee, and it does not raise your fees.