Starting March 15, 2026, COD3X will sunset GMX V2 as an integrated perpetual trading venue. All agent execution, position management, and data feeds for GMX V2 will be removed from the platform. Hyperliquid becomes our sole perpetuals venue.
This isn't a cost-cutting measure. It's a focus decision. After months of running both venues in production, Hyperliquid outperforms GMX V2 on every metric that matters for autonomous agent execution — and our users overwhelmingly prefer it.
Why Now#
We integrated GMX V2 in late 2024 to give agents a multi-venue perpetuals capability. The thesis was straightforward: more venues means better execution through competition. Agents could compare funding rates, spreads, and liquidity depth across Hyperliquid and GMX V2, then route to the optimal venue per trade.
In practice, the routing almost always picked Hyperliquid. The vast majority of perpetual volume routed through Hyperliquid, with GMX V2 capturing only a small fraction of flow. When one venue dominates that decisively, the other isn't providing competitive execution — it's adding maintenance overhead.
The Performance Gap#
Hyperliquid's advantages over GMX V2 aren't marginal. They're structural.
Execution Speed#
Hyperliquid operates its own L1 with sub-second block times optimized for trading. Order placement to confirmation is near-instant. GMX V2 runs on Arbitrum with block times of 250ms plus oracle price update latency, resulting in noticeably slower execution.
For autonomous agents making dozens of decisions per hour, this difference compounds. Faster execution means tighter entries, better fill prices, and the ability to react to market moves before slower venues even process the order.
Spread and Slippage#
Hyperliquid's central limit order book (CLOB) model produces consistently tighter spreads than GMX V2's oracle-priced pool model. The difference is meaningful on every trade and compounds across the hundreds of executions an active agent makes per week.
Limit orders alone are a game-changer for agents. GMX V2 only supports market orders against oracle prices. Hyperliquid gives agents the full order book — limits, stop-limits, post-only, reduce-only — the same tools professional market makers use.
Funding Rate Dynamics#
Hyperliquid's funding rates are more responsive and generally more favorable. The CLOB model prices funding through natural supply/demand, while GMX V2 uses a formula-driven approach that can create persistent premiums or discounts that don't reflect actual market conditions.
Agents running carry or basis strategies — earning yield from funding rate differentials — perform meaningfully better on Hyperliquid because the rates are more efficient and arbitrage opportunities resolve faster.
Liquidity Depth#
For major pairs (ETH, BTC, SOL), Hyperliquid's order book depth exceeds GMX V2's pool capacity. Larger positions move the price less on Hyperliquid than the equivalent order on GMX V2. For institutional-sized positions, the difference is even more pronounced.
What Users Told Us#
Usage data tells one story. Direct user feedback tells the same one.
Since launching GMX V2 support, we tracked which venue users manually selected when overriding agent routing. The overwhelming majority set Hyperliquid as their default or exclusive perpetuals venue. Only a small minority preferred GMX V2 — and those users cited familiarity with the interface and existing positions, not better execution.
When we talked to power users about potentially sunsetting GMX V2, the response was clear. The most common sentiment: "I didn't know GMX was still connected."
What This Means for Your Agents#
If Your Agents Already Use Hyperliquid#
Nothing changes. Your agents continue operating exactly as they do today. You may notice slightly faster route resolution since the router no longer evaluates GMX V2 as a candidate venue.
If Your Agents Use GMX V2#
Before March 15, 2026:
- Close existing GMX V2 positions — agents will automatically prefer Hyperliquid for new positions starting immediately
- Update any hardcoded venue preferences — if you've manually locked agents to GMX V2, switch to Hyperliquid or remove the preference to use automatic routing
- Review strategy parameters — Hyperliquid's tighter spreads and limit order support may allow you to tighten stop-losses and take-profits
After March 15, 2026:
- GMX V2 tools will be removed from the agent toolkit
- Any remaining GMX V2 positions will need to be closed manually through the GMX interface
- Agent configurations referencing GMX V2 will automatically fall back to Hyperliquid
Engineering Focus#
Maintaining two perpetual venue integrations doubles the surface area for bugs, edge cases, and maintenance. Every GMX V2 contract upgrade requires testing, every oracle change needs validation, and every new feature needs to work across both venues.
By consolidating on Hyperliquid, the engineering team can:
- Ship perpetuals features faster — one venue to implement, test, and deploy against
- Build deeper Hyperliquid integration — advanced order types, vault strategies, and HLP liquidity provision
- Reduce agent complexity — simpler routing logic, fewer failure modes, faster debugging
The engineering hours we reclaim from GMX V2 maintenance go directly into Hyperliquid-specific features that our users have been requesting: multi-leg strategies, portfolio margining, and sub-account management.
Not the End of Multi-Venue#
Sunsetting GMX V2 doesn't mean COD3X is permanently single-venue for perpetuals. It means we're choosing depth over breadth at this stage. If another venue emerges that competes with Hyperliquid on execution quality — or if a future GMX version fundamentally changes the architecture — we'll evaluate integration.
The multi-chain routing layer we built supports adding venues without rebuilding the system. The bar for inclusion is performance parity with Hyperliquid, not just existence.
Timeline#
If you have questions or need help migrating positions, reach out in the COD3X Discord or through the in-app support chat.
Better performance, stronger gravity, clear user preference. Hyperliquid is where perpetuals belong on COD3X.
