An exercise apparatus is disclosed herein, including a frame, a rotating assembly, two supporting rods, two swing arms, two links, and two pedals. The front ends of the supporting rods are connected respectively to two connecting points of the rotating assembly, and the rear end of each supporting rod moves back and forth along a corresponding track. The front ends of the links are connected respectively at two swing ends of the swing arms. Each pedal is mounted at the rear end of a corresponding link and pivotally coupled to a corresponding supporting member. The distance between the bottom of a circular path of the connecting points and the tracks is smaller than 10 cm. The length of the supporting rod is smaller than two times diameter of the circular path. The longitudinal horizontal distance between the front edge of the closed path and the rear edge of the circular path is smaller than 20 cm. The rear ends of the supporting rods are located between the front ends and rear ends of the pedals.