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Key Metrics

Perp Volume 30d$24.615b
Perp Volume 30d by chain

Arbitrum$24.615b

Perp Volume 7d$5.719b

Arbitrum$5.719b

Perp Volume 24h$893.67m

Arbitrum$893.67m

Cumulative Perp Volume$173.667b

Arbitrum$173.667b

Open Interest$1.273b

Total Raised$61.8m

Oct 23, 2024$10.3mRound: SeedInvestors: Bain Capital Crypto, Peak XV Partners, Coinbase Ventures, Hack VC, Dragonfly Capital, North Island Ventures

Jun 4, 2025$1.5mRound: Investors: Mirana Ventures, Caladan, Zoku Ventures

May 20, 2026$50mRound: Series AInvestors: Dragonfly Capital, Coinbase Ventures, Bain Capital Crypto

Protocol Information

Variational is a protocol that provides infrastructure for peer-to-peer trading, clearing, and settlement of perpetuals and generalized derivatives. The Variational Protocol enables safe and efficient bilateral trading of options, futures, perpetuals, exotics, and more. Multiple apps have been built on the Variational Protocol, including Omni for perpetuals trading and Pro for institutions to trade customizable OTC derivatives.

Category:Derivatives

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Variational and the Shift to Onchain Brokerage

Variational and the Shift to Onchain Brokerage

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Methodology

Perp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHub