Skip to main content
Decentralized Finance
Back to Top DeFi Protocols
Top DeFi Protocols
Gains NetworkgTradeGNS

What is Gains Network? gTrade Perpetual DEX on Arbitrum Explained

Gains Network (gTrade) is a decentralised perpetual futures protocol on Arbitrum using synthetic assets and gToken liquidity pools — a long-running alternative to GMX and Hyperliquid.

Kaiser KhanJune 2026Reviewed by our editorial team

Quick answer

Gains Network (gTrade) is a decentralised perpetuals exchange on Arbitrum where traders open leveraged positions on crypto, forex, and commodities using USDC collateral. Liquidity comes from gToken pools (gDAI, gUSDC) that act as the counterparty. The GNS token governs the protocol. gTrade offers up to 150× leverage on some pairs with low fees, competing with GMX on Arbitrum.

Market context

DeFiLlama

Loading What is Gains Network? gTrade Perpetual DEX on Arbitrum Explained stats…

Related comparisons

Gains Network vs GMX (2026)

Gains Network operates gTrade — a decentralised perpetual futures platform on Arbitrum that uses synthetic pricing and gToken liquidity pools rather than a traditional order book. Traders deposit USDC and open leveraged long or short positions; gToken stakers act as the counterparty and earn a share of trading fees.

gTrade has been active since 2021 and supports crypto, forex, and commodity pairs with leverage up to 150× on select markets — among the highest in DeFi derivatives.

gTokens and liquidity

  • gDAI / gUSDC: Single-asset vaults that back trader PnL — stakers earn fees but bear trader profit risk
  • Synthetic execution: Trades execute against pool liquidity with oracle pricing
  • Low spread fees: Competitive fee structure versus CEX futures for major crypto pairs
  • GNS token: Used for governance, staking, and protocol fee distribution

Frequently Asked Questions

  • What is Gains Network? Gains Network is the team behind gTrade — a synthetic perpetuals DEX on Arbitrum.
  • gTrade vs GMX? gTrade uses synthetic assets and gToken pools; GMX uses GLP multi-asset pools. Both are Arbitrum-native perp DEXes.
  • What is GNS? GNS is the Gains Network governance and utility token.
  • Is gTrade non-custodial? Yes — funds remain in smart contracts; you connect a wallet to trade.

FAQ

Frequently asked questions

Data Sources

gTrade

Official Gains Network trading interface

Gains Docs

Protocol documentation

Gains on DeFiLlama

TVL and volume analytics

Gains NetworkgTradeGNSArbitrum PerpsPerpetual DEXSynthetic Assets

Related Research

News

Hyperliquid Dominates DeFi Perps in June 2026: Volume, HYPE, and the Order-Book Model

Hyperliquid continues to lead decentralised perpetual futures by volume in mid-2026 — processing more daily notional than GMX, dYdX, and Drift combined on many sessions. We analyse what is driving the shift to on-chain order books.

Kaiser KhanRead
Top DeFi Protocols

Lido vs Rocket Pool 2026: Which Liquid Staking Protocol Is Better?

Lido and Rocket Pool are the two most significant decentralised ETH liquid staking protocols. Both let you stake ETH without running a validator, but they differ in decentralisation, token liquidity, yield, and risk profile. Here is the definitive 2026 comparison.

Kaiser KhanRead
Top DeFi Protocols

Best DEXes 2026: Uniswap, Aerodrome, Jupiter, Curve & More Compared

The decentralised exchange landscape in 2026 spans dozens of protocols across multiple blockchains. This guide ranks the best DEXes by volume, liquidity depth, supported chains, and specific use cases — helping you choose the right platform for every swap.

Kaiser KhanRead