Risk warning: leveraged derivatives on unregulated platforms — you can lose everything you deposit. Not investment advice.

GMX Referral Code (2026): The 5% Fee Discount Explained

Program terms verified against official GMX docs on 2026-07-17.

A GMX referral code gives you a discount on trading fees and pays the person who referred you a matching reward — funded out of GMX's own fee split, not an extra charge on your trade. Here's exactly what it covers, what it doesn't, and how the mechanics work.

What you get

Every GMX referral code starts at Tier 1: a 5% discount on your trading fees, and a 5% reward for whoever referred you. This tier is available to anyone immediately — no minimum volume, no referred-user count, no waiting period.

The discount applies only to the fees charged when you open and close a leverage position. It does not apply to borrow fees or funding fees — the costs that typically dominate the total bill on any position held for more than a few hours. A 5% cut on a one-time open/close fee is a modest saving next to what accumulates from holding a leveraged position over days or weeks. See our breakdown of GMX's full fee structure for why that distinction matters more than the headline percentage suggests.

How to activate

Codes are created on GMX's Referrals page, under the Affiliates tab, using letters, digits, and underscores. As a trader, you enter a code on the same Referrals page or follow a referral link. That relationship is recorded on-chain, with Arbitrum as GMX's primary chain — codes created there propagate to GMX's other supported chains via LayerZero. There's no separate account or signup: once a code is attached, the discount applies automatically to qualifying trades.

Referral links on this page are affiliate links — see our methodology for how we handle paid relationships and verify program terms.

How the program works on both sides

GMX's referral program is a fee split, not a separately funded bonus. At Tier 1, an affiliate earns 5% of the open and close fees generated by the traders they referred. Rewards accrue per market, paid in that market's own collateral token, and can be claimed at any time from the Referrals page.

Two higher tiers exist, and both require the affiliate to request the upgrade directly — via a DM to GMX's partners channel, not an automatic switch:

• Tier 2 — 10% discount / 10% reward, once an affiliate has 15+ active referred users and $5M+ in combined weekly volume.
• Tier 3 — 10% discount / 15% reward, once an affiliate has 30+ active referred users and $25M+ in weekly volume.

We don't have a live code yet, so there's no tier to report. Once one is active, this section will state which tier it's on plainly.

FAQ

Does using a referral code cost me anything?

No. The 5% is a discount off fees you'd pay regardless of whether you use a code — the affiliate's matching reward comes out of GMX's fee split, not an extra charge added to your trade.

Does the discount apply to borrow or funding fees?

No. GMX's documentation is explicit that the referral discount and reward apply only to opening and closing fees on leverage trades. Borrow fees and funding fees, which accrue continuously while a position is open, are unaffected either way.

Can I add a code to an account I already trade with?

The documentation describes entering a code on the Referrals page without restricting that action to new accounts. We haven't found language limiting it to first-time users, and we won't invent a restriction the docs don't state — check the live GMX Referrals page for your own account before assuming either way.

This page covers a specific fee-discount program, not trading advice. Read our risk disclosure before trading perpetuals with leverage.