# Variational

> Track Variational's fees, revenue, TVL and active users with daily on-chain data. Compare Variational with other derivative exchanges. Updated daily.

Source: [Variational on Token Terminal](https://tokenterminal.com/explorer/projects/variational). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction).

- Token: VAR
- Sectors: Derivative exchanges
- Chains: arbitrum

## About

### What it is

Users request a quote and OLP, Variational's in-house market maker, is the sole counterparty on Omni; trades are priced, agreed, and booked off-chain, with the chain holding only USDC collateral. Each user is deployed a bilateral settlement pool by a factory contract, and every state-changing function is oracle-gated, so an off-chain operator drives settlement.

### Who uses it

Variational is an RFQ perpetuals venue on Arbitrum. Its consumer app, Omni, lets users trade perpetual futures against the protocol's own market maker, OLP.

### How it works

Omni charges zero explicit trading fees; the user's cost is the bid-ask spread OLP quotes. Variational's revenue is a share of that spread, swept from settlement pools into a protocol treasury wallet, with the remainder retained by OLP.

## Metrics

Token Terminal tracks these metrics for Variational daily. Each page has a chart with the full history.

- [Total value locked](https://tokenterminal.com/explorer/projects/variational/metrics/tvl)
- [Fees](https://tokenterminal.com/explorer/projects/variational/metrics/fees)
- [Supply-side fees](https://tokenterminal.com/explorer/projects/variational/metrics/fees-supply-side)
- [Revenue](https://tokenterminal.com/explorer/projects/variational/metrics/revenue)
- [Treasury](https://tokenterminal.com/explorer/projects/variational/metrics/treasury)
- [Treasury (net)](https://tokenterminal.com/explorer/projects/variational/metrics/treasury-net)
- [Active users (daily)](https://tokenterminal.com/explorer/projects/variational/metrics/user-dau)
- [Active users (weekly)](https://tokenterminal.com/explorer/projects/variational/metrics/user-wau)
- [Active users (monthly)](https://tokenterminal.com/explorer/projects/variational/metrics/user-mau)
- [Active addresses (daily)](https://tokenterminal.com/explorer/projects/variational/metrics/active-addresses-daily)
- [Active addresses (weekly)](https://tokenterminal.com/explorer/projects/variational/metrics/active-addresses-weekly)
- [Active addresses (monthly)](https://tokenterminal.com/explorer/projects/variational/metrics/active-addresses-monthly)
- [Core developers](https://tokenterminal.com/explorer/projects/variational/metrics/active-developers)
- [Code commits](https://tokenterminal.com/explorer/projects/variational/metrics/code-commits)
- [Transaction count (contracts)](https://tokenterminal.com/explorer/projects/variational/metrics/transaction-count-contracts)
- [Gas used](https://tokenterminal.com/explorer/projects/variational/metrics/gas-used)
- [Average fees per user (AFPU)](https://tokenterminal.com/explorer/projects/variational/metrics/afpu)
- [Average revenue per user (ARPU)](https://tokenterminal.com/explorer/projects/variational/metrics/arpu)
- [Take rate](https://tokenterminal.com/explorer/projects/variational/metrics/take-rate)

## Links

- [twitter](https://x.com/variational_io)
- [website](https://omni.variational.io/)
- [github](https://github.com/variational-research)