Independent resource — not affiliated with Offchain Labs or the Arbitrum Foundation.

Arbitrum Tax Software Compared

Based on L2 bridge handling, GMX support, and user feedback from forums.

CoinLedger

Best for Arbitrum

✓ Manual bridge merge tool — fix "Missing Cost Basis" warnings from bridge transactions
✓ Arbitrum DeFi support — Uniswap, Camelot, Aave transactions tracked
✓ Per-wallet cost basis — 2025 IRS requirement supported
− GMX perpetuals support limited

See pricing — use code CRYPTOTAX10 for 10% off.

Try CoinLedger →

Alternative: Koinly

✓ More total integrations (900+ platforms)
✓ Good if you're on multiple L2s beyond Arbitrum
− GMX token mislabeling reported (shows as GameX)
− Bridge transactions show incorrectly for some users

See pricing — free preview available.

Try Koinly →

No tool handles GMX perpetuals perfectly — manual review likely needed for complex trading.

Arbitrum Tax Issues to Know

ARB Airdrop

The March 2023 ARB airdrop was one of the largest ever (~$2B distributed). Taxable as ordinary income at fair market value when claimed. This becomes your cost basis for future sales.

Bridge Transactions

Bridging ETH to Arbitrum isn't taxable (you're moving, not disposing). But tax software often shows "Missing Cost Basis" — use CoinLedger's merge tool to fix this. Bridge fees are deductible.

GMX Trading

GMX perpetuals create complex tax scenarios with P&L, trading fees, and execution fees. Users report needing manual tagging. GMX staking rewards (esGMX, ETH rewards) are taxable income when received.

FAQ

Are Arbitrum bridge transactions taxable?

Generally no — bridging ETH from Ethereum to Arbitrum is moving assets, not disposing of them. However, bridge fees paid in ETH are deductible as transaction costs.

How is the ARB airdrop taxed?

The ARB airdrop is taxable as ordinary income at fair market value when claimed. This value becomes your cost basis. The March 2023 airdrop was valued at ~$1.20 per token at launch.

Are GMX perpetual trades taxable?

Yes. Each trade is a taxable event. Profits and losses are calculated based on your cost basis. Note: Most tax software has limited GMX perpetuals support — manual tracking may be needed.

Can I deduct failed transaction fees?

Yes. Gas fees for failed transactions on Arbitrum are deductible as transaction costs, even though the transaction didn't complete.

Sources

Last updated: February 2026