GMX launches QQQ/USD and SPY/USD perps
GMX has listed QQQ/USD and SPY/USD perpetuals, the first wave of its broader TradFi expansion, now available for 24/7 trading of the Invesco QQQ Trust and SPDR S&P 500 ETF even outside US market hours. The markets are backed by the GLV [WETH-USDC] liquidity vault on Arbitrum and priced by low-latency Chainlink Data Streams.
- Up to 50x leverage during trading hours, 25x off-hours; the session switch changes risk parameters, not access
- Fees of 1 or 2 bps on-hours and 4 or 6 bps off-hours, depending on open-interest balance
- Users can go long or short QQQ and SPY
GMX frames these listings as Wave 1 of its TradFi expansion, signaling more traditional-asset markets to come.
Sources
- 24/7 QQQ/USD and SPY/USD Perps are Now Available on GMXgmxio.substack.com ↗
- Up to 50x leverage during trading hours, and 25x off-hours. The session switch alters the risk parameters, not your permissionless access. Fees: 1 or 2 bps on-hours / 4 or 6 bps off-hours (based on the OI balance). Long or short QQQ and SPY: https://t.co/hgICg7eAtN 2/2 Replying to their earlier post: Live on GMX: QQQ/USD and SPY/USD perps, wave 1 of the TradFi expansion. 24/7 trading of the Invesco QQQ Trust and SPDR S&P 500 ETF, even outside US market hours. Backed by the GLV: [WETH-USDC] l…x.com ↗
- Live on GMX: QQQ/USD and SPY/USD perps, wave 1 of the TradFi expansion. 24/7 trading of the Invesco QQQ Trust and SPDR S&P 500 ETF, even outside US market hours. Backed by the GLV: [WETH-USDC] liquidity vault on @Arbitrum; priced by low-latency @Chainlink Data Streams. 1/2 ⬇️ https://t.co/OEOOMijCEPx.com ↗
GMX
The GMX is a decentralized exchange protocol that deployed on two EVM chains, Arbitrum and Avalanche. The utiitty and governance token for its Arbitrum ecosystem is GMX, which generates 13% APR for the users. On the other hand, the token for the Avalanche ecosystem is GLP, which gives around 21% APR. GMX also has an API for developers to tap into its infrastructure.
