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What the GMX pools paid

2026-11-03 – 2026-11-09 · Arbitrum · 69 pools with at least $100K of liquidity

Liquidity$168.82M-1.6% on the week
Volume$326.09M-25.0% on the week
Fees paid$150.3K-22.9% on the week
Fee yield4.6%realised, annualised

The capital in the pools turned over 0.28 times a day. The net liquidity flow from 2026-11-03 to 2026-11-09 (00:00 UTC), cleaned of the price move, was -$742.1K.

Who paid the most: net for liquidity providers

Ranked by what the pool kept: its fees plus its result against traders over the same seven days (realised plus the change in unrealised). A minus under “Against traders” means the traders won from the pool. A pool whose result against traders is not known comes last and is marked “—”, not taken as zero.

PoolFeesAgainst tradersNetNet APRFee APRTurnoverLiquidityPhase
XPL/USD [BTC-USDC]$720+$2.5K+$3.2K+145.7%32.7%1.29×$114.9Kliquidity draining
TRUMP/USD [WETH-USDC]$431+$1.9K+$2.3K+115.7%21.4%1.00×$104.9Ktoo little data
GMX/USD [GMX-USDC]$458+$2.3K+$2.8K+77.7%12.8%0.20×$187.3Kcooling
SOL/USD [SOL-SOL]$188+$2.1K+$2.2K+65.8%5.5%0.11×$177.5Ktoo little data
kPEPE/USD [WETH-USDC]$578+$770+$1.3K+60.5%26.0%1.46×$116.2Kliquidity draining
XRP/USD [USDG-USDG]$3.5K+$1.2K+$4.7K+58.5%43.2%2.84×$418.3Ktoo little data
LTC/USD [WETH-USDC]$669+$441+$1.1K+56.5%34.1%0.78×$102.4Ktoo little data
QQQ/USD [WETH-USDC]$551+$663+$1.2K+56.1%25.4%0.84×$112.8Ktoo little data
ONDO/USD [WETH-USDC]$2.8K+$986+$3.8K+47.2%34.8%0.03×$414.9Kcooling
ADA/USD [BTC-USDC]$967+$1.7K+$2.7K+44.0%16.0%0.31×$314.2Kstable

Where the liquidity went

PoolFlowChangeVolume vs the week beforePhase
ZEC/USD [USDG-USDG]$851.9K+103.2%+35%too little data
NEAR/USD [USDG-USDG]$764.1K+54.6%+13%too little data
XRP/USD [USDG-USDG]$473.7K+186.4%+865%too little data
ETH/USD [WETH-WETH]$314.3K+2.3%+75%stable
ETH/USD [USDG-USDG]$189.3K+6.5%-10%stable
SOL/USD [USDG-USDG]-$1.23M-94.2%-95%too little data
BTC/USD [BTC-USDC]-$1.02M-1.8%+43%stable
BTC/USD [USDG-USDG]-$580.8K-9.4%+23%too little data
BTC/USD [BTC-BTC]-$401.5K-4.0%-43%stable
SILVER/USD [WETH-USDC]-$372.8K-73.9%-65%stable

Phase changes this week

What we said a month ago, and before

Every pool is classified again as of 16 past days, a week apart — from 2026-06-28 to 2026-10-11 — using only what was known then, and measured against its fee yield over the following 30 days, without its result against traders. One observation is one pool as of one day: 1116 observations of 103 distinct pools. The windows of neighbouring days overlap, so the observations are not independent. The test is relative: did the pool beat the median of all pools.

Phase thenObservationsDistinct poolsBeat the medianMedian fee yieldWeakest … strongest
promising432667%11.4%3.7% … 54.3%
accelerating422367%11.5%1.8% … 64.2%
stable3245759%9.0%0.3% … 56.8%
cooling983961%8.3%0.4% … 35.9%
activity collapsing422757%7.0%0.7% … 30.4%
liquidity draining693180%15.0%4.1% … 57.3%
too little data4987734%5.3%0.0% … 2834.8%