ARB vs GMX
Arbitrum and GMX scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
ARB scores 134 of 250 and ranks 42nd of 251. GMX scores 143 and ranks 28th. GMX leads by 9 points, which is inside the range where the individual variables matter more than the total. ARB takes 10 of the 25 variables, GMX takes 9, and 6 are level.
The framework rates ARB CAUTIOUS HOLD and GMX HOLD. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
5 variables separate them by 3 points or more. ARB is clear on Market Share (8 against 3). GMX is clear on Supply Inflation (8 against 4), Vesting Schedule (7 against 3) and Buyback and Burn (7 against 3).
Both score 3 or below on Real Staking Yield. A weakness both sides share is not a reason to prefer either. It is a reason to check whether the category itself carries the problem.
ARB is valued at $1.25B against $84.3M for GMX, a 14.8x difference. The smaller of the two scores higher on fundamentals, which is the disagreement worth understanding before either position is taken.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 3 | 5 | GMX +2 | |
| Revenue Trend | 5 | 5 | level | |
| P/S Multiple | 4 | 7 | GMX +3 | |
| Real Staking Yield | 2 | 1 | ARB +1 |
Supply
| Supply Inflation | 4 | 8 | GMX +4 | |
| Vesting Schedule | 3 | 7 | GMX +4 | |
| Circulating / FDV Ratio | 5 | 8 | GMX +3 | |
| Buyback and Burn | 3 | 7 | GMX +4 |
Ownership
| Smart Money Flows | 6 | 5 | ARB +1 | |
| Insider Selling | 4 | 8 | GMX +4 | |
| Holder Concentration | 5 | 5 | level |
Traction
| TVL Trend | 6 | 4 | ARB +2 | |
| Active Users | 7 | 5 | ARB +2 | |
| Developer Activity | 8 | 6 | ARB +2 | |
| Network Growth | 7 | 6 | ARB +1 |
Position
| Market Share | 8 | 3 | ARB +5 | |
| Competitive Moat | 5 | 5 | level | |
| Institutional Adoption | 6 | 5 | ARB +1 | |
| Exchange Depth | 7 | 7 | level | |
| Social Mindshare | 6 | 4 | ARB +2 |
Risk
| Regulatory Safety | 7 | 7 | level | |
| Catalyst Calendar | 6 | 8 | GMX +2 | |
| BTC Alpha Potential | 4 | 3 | ARB +1 | |
| Team Execution | 7 | 7 | level | |
| Treasury Runway | 6 | 7 | GMX +1 |
Bars read outward from the centre: ARB to the left, GMX to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| ARB | GMX | |
|---|---|---|
| Price | $0.1840 | $8.05 |
| Market cap | $1.25B | $84.3M |
| Circulating | 67.9% | 79% |
| Dilution to full supply | 1.47x | 1.27x |
| Off all-time high | -92.3% | -91.2% |
| To recover the high | 13x | 11.4x |
| Total value locked | $2.20B | $784.0M |
| Network | Arbitrum | Arbitrum |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
ARB · CAUTIOUS HOLD
BOLD dispute resolution upgrade; Stylus enabling Rust/C++ smart contracts expanding developer base
42% circulating with significant investor releases remaining; sequencer revenue not well-accrued to ARB token holders
GMX · HOLD
24/7 commodity perps (gold/silver/oil) live April 2026, $1.18B first-week volume, RWA expansion
Sub-3% perp DEX share vs HYPE 70%, $90 reward open at $6.80 price, revenue was 3x overstated
Common questions
- Is ARB or GMX the better investment?
- On this framework GMX scores higher: 143 against 134 of 250, and it is rated HOLD against CAUTIOUS HOLD. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and ARB still wins 10 of the 25 individual variables against GMX.
- What is the biggest difference between ARB and GMX?
- Market Share. ARB scores 8 of 10 there and GMX scores 3, a gap of 5 points on a single variable.
- Which is bigger, ARB or GMX?
- ARB is valued at $1.25B and GMX at $84.3M on the latest market snapshot.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.