GMX V2 Perps · Arbitrum

ETH-USDC

Overview

The GMX V2 Perps ETH-USDC pool on Arbitrum is a derivatives contract where users can trade perpetual swaps between Ethereum and USDC. The protocol generates yield by facilitating leveraged trading positions, charging fees on each transaction.

Total APY stands at 3.87%. There is no reward component in this setup. Over the past seven days, the APY has decreased by 1.08%, while over the last thirty days, it has fallen by 2.17%, placing the current rate above the 30-day mean of 3.72%.

TVL currently sits at $1.45M with no reported change in the past week. The primary risk here is impermanent loss exposure due to the multi-asset nature of the pool, which can occur if market conditions shift unfavorably between ETH and USDC pairs.

Composed 2026-05-20 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Impermanent loss

  This pool holds multiple assets, so price divergence between them can reduce your USD value below what holding the assets separately would yield.

• Yield variability

  Current APY is 3.76%; 30-day mean is 4.87%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 84% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.