How to Set Up a GMX Referral Code and Earn Rebates

Not every GMX referral code offers the same discount, the widely advertised “10% off fees” is a tier that only qualifies once an affiliate hits real weekly trading volume thresholds, not a flat rate available to everyone.

This guide is part of TradeOnDEX’s GMX how-to series within Perpetual Futures.

Disclosure: TradeOnDEX may earn a commission from links to GMX on this page, at no extra cost to you. Full details at the end of this article.

How to apply a referral code as a trader

1. Click the Referrals menu and select Traders.
2. Connect your wallet.
3. Enter the referral code you want to use.
4. The fee discount applies automatically at the contract level from that point forward, you simply pay less on eligible fees, with no separate claim step.

The tier system most guides skip over

GMX referral codes aren’t uniform. There are three tiers:

• Tier 1: available to anyone who creates a code, offering a 5% fee discount to traders who use it.
• Tier 2: requires the affiliate to maintain at least 15 active weekly users and combined weekly volume above $5 million.
• Tier 3: requires at least 30 active weekly users and combined weekly volume above $25 million, unlocking a 10% discount for traders and 15% rebates for the affiliate.

This means for you, concretely: a code advertised as offering “10% off” only delivers that rate if the specific affiliate behind it has genuinely qualified for Tier 3, a smaller or newer affiliate’s code may only offer the base 5%.

How to create your own referral code

1. Go to the Referrals page and select Set Referral Code.
2. Choose a code using letters, numbers, and underscores.
3. Copy your referral link from the icon next to your new code.
4. Create the same code separately on each network you trade on (Arbitrum and Avalanche are tracked independently), a code set up on one network does not automatically earn rebates on the other.

Risk: what to actually check before trusting an advertised discount

A referral code’s advertised discount depends entirely on the affiliate’s current tier, which can change. An affiliate that qualified for Tier 3 last month isn’t guaranteed to maintain that volume indefinitely. Verify the actual discount your specific code applies once you connect, rather than assuming an advertised rate is locked in.

Referral codes are case-sensitive, so a code copied or typed incorrectly may simply fail to apply rather than warning you clearly, double-check the exact code before your first trade.

Codes must be set up per network, so an affiliate’s rebate-earning (and correspondingly, the discount they can offer) may only be active on the network where they specifically registered the code. Check that the network you’re trading on matches where the code was actually created.

A fee discount, however real, shouldn’t be the deciding factor in a trading decision. As with any fee-discount program covered throughout this series, a few percentage points off fees is meaningful over volume but small relative to the risk of a single leveraged position moving against you.

Referral tiers at a glance

Verify current thresholds and rates before relying on this table, since tier requirements are a platform parameter that can be adjusted.

See it for yourself

Connect your wallet and check the actual discount your intended referral code applies before your first trade. Don’t assume an advertised rate from a third-party roundup reflects that specific code’s current tier. You can review your options on the Referrals page.

Frequently asked questions

Does every GMX referral code offer a 10% discount?

No, 10% is only available through Tier 3 affiliate codes, which require the affiliate to meet real weekly volume and active-user thresholds; many codes only offer the base 5%.

Can I apply a referral code after I’ve already started trading?

Check current documentation, some referral programs, like Hyperliquid’s, require the code before your first trade; verify GMX’s specific rule before assuming it applies retroactively.

Do I need to set up my referral code on every network separately?

Yes, GMX tracks referral codes and rebates independently per network (Arbitrum, Avalanche, and others), so a code created on one doesn’t automatically work on another.

Can an affiliate’s tier change over time?

Yes, tier qualification depends on ongoing weekly volume and active-user counts, so an affiliate’s current discount tier isn’t guaranteed to stay the same indefinitely.

Affiliate disclosure

TradeOnDEX may earn a commission if you sign up or trade through a link on this page, at no extra cost to you. GMX’s own affiliate/referral terms are still being confirmed for this site, so links here are direct and untracked for now. This article is educational and is not financial advice. See our disclaimer for the full risk warning.