How are GMX V2 borrow fees calculated?

GMX V2 borrow fees run continuously based on pool utilization. Formula: position size × borrow fee rate per hour × hours held. At typical rates, a 10x ETH long held for 7 days accumulates roughly 0.84% in borrow costs — about $84 on a $10,000 position — before any market movement.

What is the funding rate on GMX V2?

The funding rate on GMX V2 is paid between long and short positions to balance open interest. When longs dominate, long positions pay a funding rate to shorts, and vice versa. This rate fluctuates with market conditions and is separate from the borrow fee.

How is liquidation price calculated on GMX V2?

GMX liquidation price accounts for position size, collateral, leverage, and accumulated borrow fees. Higher leverage means the liquidation price is closer to entry. Borrow fees reduce your effective collateral over time, gradually moving the liquidation price toward the market price.

GMX V2 Position Calculator

Position Setup

▲ LONG

▼ SHORT

Entry price ($)

Collateral ($)

Amount you deposit as margin

Leverage

5×

Position duration (days)

Funding rate (APR %)

Positive = longs pay shorts. Enter from app.gmx.io → Fees. Leave 0 if unknown.

⚡

Results appear here

Defaults are loaded — click Calculate to run.

Liq. price—

Break-even—

Opening fee—

Total fees—

How GMX V2 fees work

Opening fee
0.05–0.07% of position size. Charged when you open and when you close.

Borrow fee
~0.01%/hour on the borrowed portion (position − collateral). Varies with pool utilization.

Liquidation
Triggered when (collateral − fees) falls below 1% of position size (maintenance margin).

Liquidity Provider Yield — GLP & GM Pools

Estimate your yield as a liquidity provider. GLP (V1) = diversified basket. GM (V2) = market-specific isolated pools. APRs are reference estimates — verify at app.gmx.io.

GLP (V1)

GM Pools (V2)

Amount to deposit ($)

Estimated APR (%)

GLP V1 historical range: 10–35% APR (ETH fees + esGMX)

Duration

Estimated yield

—

Daily—

Weekly—

Monthly—

⚠ GLP risk: you earn fees from traders, but absorb their P&L. If traders collectively win, GLP value drops. 50% of fees paid in ETH, 50% in esGMX (vested over 1 year).

GLP basket composition (Arbitrum, reference)

Token	Target weight	Type	Exposure
ETH	~28%	Crypto	Directional
WBTC	~22%	Crypto	Directional
USDC	~33%	Stable	Neutral
USDT	~10%	Stable	Neutral
Others (ARB, LINK…)	~7%	Mixed	Directional

Pool	Est. APR	Long token	Short token	Risk
BTC/USD GM	~20%	WBTC	USDC	Medium
ETH/USD GM	~17%	WETH	USDC	Medium
ARB/USD GM	~12%	ARB	USDC	High
SOL/USD GM	~15%	SOL	USDC	Medium
AVAX/USD GM	~18%	AVAX	USDC	Medium
LINK/USD GM	~10%	LINK	USDC	High

What does your perp really cost?

GMX V2 position calculator — real borrow fees and break-even before you trade