Introduction

Arbitrum is one of Ethereum's most promising layer 2 solutions. It is a protocol that uses optimistic rollup technology to perform complex operations allowing the Ethereum network to be more scalable and efficient.

GMX is a perpetual, decentralized exchange project, and then successfully developed within the Arbitrum platform, completely changing operations on Arbitrum . One of the first perpetual contract exchanges on Arbitrum, GMX gained many users and then continued to expand to Avalanche. It provides traders with a complete set of tools for spot and long/short trading, with a strong focus on cost savings, no arbitrage, no financing fee and minimal settlement possibility [1].

GLP is the GMX Liquidity Provider token. GLP stakers receive 70% of the platform fees in ETH and esGMX. This is a token that incentivises users to deposit their assets as liquidity on the GMX exchange and in return they mint GLP. Once a user returns their GLP to redeem their tokens, the GLP will be burnt [2].

The intention of this dashboard is to provide the activity of GMX traders, not only in general terms over the past 3 months, but also during the past month and over the past 24 hours.

To carry out this approach, I have used the data obtained on Flipside Arbitrum fact_transactions table filtering by “swap” event type and I have filtered the rows by where contract_address = lower('0xabbc5f99639c9b6bcb58544ddf04efa6802f4064') and contract address in GMX contracts.

*Full list of contracts here: *

In this case, the metrics compared during the past 3 months/1 month/1 day have been the following:

• Daily swaps
• Daily active swappers
• Daily volume swapped in both directions
• Total fees
• Cumulative values for the aforementioned variables

Overview

Methods

Last 3 months

Last month

Last day

Number of swaps

Number of active users

Last 3 months

Last month

Last day

Trading volume

Last 3 months

Last month

Last day

Generated fees

Last 3 months

Last month

Last day

Key insights

• The GMX on Arbitrum is generated a lot of volume in swaps and in consequence, a lot of fees for the GMX stakers. For this reason, it seems that there are some news about the increase of the token over the past days/weeks [3].
• The general swapping activity seems to be increased since the start of the year, but recently decayed over the past days.
• The activity remained higher than previous year levels.
• The number of swaps and swappers remained constant over time
• During the past 3 months, almost 150k USD in fees has been generated.