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Variational
Variational Omni quotes over 500 markets against a single liquidity provider, the OLP, and lists permissionlessly so new markets appear daily. Its range goes well beyond crypto into volatility indices, real-world assets, interest rate products and in-game items.
$824.03M
Open interest
$631.93M
24h volume
542
Live markets
2m ago
Last refresh
polled live
Mechanics
How it works
Traders take positions against the OLP rather than each other, so the pool absorbs any imbalance between long and short open interest. Funding is published as an annualised rate per market, with settlement intervals of one, four or eight hours.
Risk
What to watch
The OLP is the counterparty to every position, so its solvency is the venue's solvency. Permissionless listing means market quality varies enormously, and many of the exotic markets have very little depth. Note that our open interest for this venue is the sum of long and short position notional; Variational's own published figure is exactly twice that, so we read lower than their site and lower than DefiLlama.
Markets
What Variational lists
Deepest first.