Variational Omni vs HTX
Variational Omni traded 1.9× HTX's 24-hour volume ($2.79B vs $1.50B).
Head to head
the arrow points to the better figure| Variational Omni | HTX | |
|---|---|---|
| Trading | ||
| $1.59 | ◀BTC trade, $10k | $12.01 |
| $263 | ◀BTC trade, $1M | $1,493 |
| — | BTC book depth | $13.0M |
| 0.000%/0.000% | ◀Taker / maker | 0.060%/0.020% |
| 50x | Max leverage▶ | 200x |
| Size | ||
| $2.79B | ◀Volume 24h | $1.50B |
| $2.65B | ◀Volume, 7-day average | $1.34B |
| $1.04Blongs + shorts | Open interest | $3.08Bone side |
| — | TVL | — |
| Markets | ||
| 560 | ◀Markets | 370 |
| 124 | Stocks & RWA▶ | 251 |
| 1h or 4h or 8h | Funding paid every | 1h or 4h or 8h |
| +0.0070% | BTC funding /8h | +0.0093% |
| — | BTC longs paid, 30d | +0.351% |
| Access | ||
| No ID | ◀KYC | Limited without ID |
| none yet | Token | $HTX |
| Active | Airdrop | — |
Cost to trade ETH
| Size | Variational Omni | HTX |
|---|---|---|
| $1k | $0.141.4 bp | $1.2012.0 bp |
| $10k | $1.371.4 bp | $12.0412.0 bp |
| $100k | $13.701.4 bp | $12212.2 bp |
| $1M | $6896.9 bp | $1,59916.0 bp |
| $5M | — | $10,54921.1 bp |
BTC funding per day
pair pageSize
daily, last 90 daysVolume by asset class
last 90 daysOn both: 184
funding /8h · Net 7d at $10k| Asset | Variational Omni | HTX | Spread | Net 7d |
|---|---|---|---|---|
| XAU | 0.0000% | +0.0026% | +0.0026% | +$58 |
| SPCX | +0.0457% | 0.0000% | +0.0457% | −$11 |
| SNDK | 0.0000% | 0.0000% | 0.0000% | −$24 |
| XAG | +0.0186% | 0.0000% | +0.0186% | −$9 |
| BZ | +0.0085% | 0.0000% | +0.0085% | −$43 |
| QQQ | +0.0084% | 0.0000% | +0.0084% | −$18 |
| MU | 0.0000% | 0.0000% | 0.0000% | −$37 |
| OPENAI | +0.0050% | +0.0050% | 0.0000% | +$236 |
| GOOGL | +0.0393% | +0.0005% | +0.0387% | −$19 |
| ANTHROPIC | +0.0050% | +0.0050% | 0.0000% | −$141 |
| AVGO | +0.0465% | +0.0110% | +0.0355% | −$22 |
| ORCL | +0.0059% | 0.0000% | +0.0059% | −$47 |
| NATGAS | +0.0895% | +0.0797% | +0.0098% | −$42 |
| NVDA | +0.0125% | +0.0104% | +0.0022% | −$19 |
| MRVL | 0.0000% | 0.0000% | 0.0000% | −$52 |
| META | 0.0000% | 0.0000% | 0.0000% | −$40 |
| MSFT | 0.0000% | 0.0000% | 0.0000% | −$36 |
| SKHY | −0.0572% | −0.0201% | +0.0371% | −$19 |
| SOXL | −0.0065% | 0.0000% | +0.0065% | −$20 |
| AAPL | 0.0000% | 0.0000% | 0.0000% | −$33 |
Only on Variational Omni: 367
SP500 · CL · LIGHTER · PUMPFUN · ZRO · AMZN · GRASS · MON · CRCL · AERO · VVV · HOOD · TSLA · INTC · MSTR · CRV · COIN · PLTR · CHIP · STX · SPX · VIRTUAL · POPCAT · JTO · S · CC · MORPHO · PENDLE · MINA · PHA · ZAMA · MNT · KSM · SKY · WLFI · SEI · METEORA · STRK · SYRUP · FET · LDO · INJ · GRVT · RENDER · POL · SOON · RUNE · THETA · EIGEN · IMX · MEGA · MANA · ATH · TWT · 2Z · CRO · ORCA · JASMY · ZEREBRO · EDGE · and 307 more
Only on HTX: 186
USOIL · SKHYNIX · SPX500 · SHIB · SPY · LIT · BTW · CRCLX · GRAM · MSTRX · TSLAX · NAS100 · 龙虾 · WIN · HOODX · 牛来 · INTCX · BTT · FLNC · PUMP · UNITREE · SAMSUNG · TUT · MINIMAX · ZHIPU · SKYAI · 币安人生 · PIPPIN · AMZNX · CXMT · WDC · BANK · PENG · ASTS · APR · COINX · GLW · SPCH · OURA · HK1810 · 哈基米 · TQQQ · KORU · USDJPY · SKDD · RDW · SNXX · SMIC · KUAISHOU · MUU · ACNSTOCK · EUR · AXTI · BYD · ASML · BILL · DOS · ZHONGJI · PLTRX · INTW · and 126 more
Questions
Is Variational Omni or HTX cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $1.59 on Variational Omni and $12.01 on HTX right now, taker fee and order-book slippage together, so Variational Omni is cheaper. Taker fees: 0% and 0.06%.
Which has more markets, Variational Omni or HTX?
Variational Omni lists 560 active markets and HTX 370; 184 assets trade on both, 102 of them stocks, commodities or other real-world assets.
Does Variational Omni or HTX require KYC?
Variational Omni: No ID; not for US or Canadian persons, Taiwan or sanctioned regions. HTX: No ID for accounts opened since 2026-03-30: futures up to 5x and no API trading; more leverage and the API need level-2 KYC.
Can you arbitrage funding between Variational Omni and HTX?
Yes: 3 of the assets on both paid more in funding over the last 7 days than a $10k round trip on both costs. The best was OPENAI, long on Variational Omni and short on HTX, with $236 left after costs.
Which is bigger, Variational Omni or HTX?
24-hour volume: Variational Omni $2.79B, HTX $1.50B. Open interest as each reports it: $1.04B and $3.08B. Variational Omni reports open interest as the sum of its traders' longs and shorts; HTX reports one side. For the same positions Variational Omni's figure reads about twice as large.
More comparisons
allVariational Omni vs HTX: which to use
Variational Omni vs HTX is a decentralized exchange against a centralized one. Variational Omni runs on Arbitrum, is traded from a self-custody wallet without ID, and charges 0 bp maker and 0 bp taker, with up to 50x. HTX holds your funds in an account, charges 2 bp maker and 6 bp taker, and offers up to 200x and a central limit order book. HTX lists more stock and commodity perps.
How each exchange is built
Variational Omni is a decentralized exchange (DEX) on Arbitrum. You trade from a self-custody wallet. It does not run a public order book. A market maker quotes each trade under request-for-quote (RFQ) matching.
HTX is a centralized exchange (CEX): you open an account with the company, and the account holds your funds. It matches orders on a central limit order book, and a limit order can rest there until it is filled.
For the trader this means two different workflows. On Variational Omni you trade from a wallet against a quote. On HTX you deposit into an account and place orders against a book.
Fees and what they mean
Variational Omni's base tier is 0 bp maker and 0 bp taker, per Variational's fee page. HTX's base tier is 2 bp maker (0.02%) and 6 bp taker (0.06%), per HTX's fee page.
A market order pays the taker fee to open and again to close. That is 0 bp per round trip on Variational Omni and 12 bp on HTX. A limit order that rests on the book pays the maker fee instead: 0 bp on Variational Omni and 2 bp on HTX.
The fee is only part of the cost. Slippage, the price you move by eating through the order book, grows with size. The cost table above adds the taker fee twice to the slippage we read from each exchange's live order book, at each size from $1k to $5M. Every exchange's trading cost is also compared on one page.
Markets and leverage
As of 1 October 2026 Variational Omni lists 557 active perps, 121 of them stocks, commodities, FX or other real-world assets. HTX lists 370, 251 of them real-world assets. Variational Omni has more markets in total. HTX has more real-world asset markets.
HTX allows up to 200x and Variational Omni up to 50x on their highest-leverage markets. Most markets on both allow less.
Both exchanges pay funding every 1 hour, 4 hours or 8 hours depending on the market. Check a market's interval before you hold it: an hourly market settles 24 times a day, an 8-hour market three times. The list further down this page shows the markets both exchanges have and each one's funding rate.
Who can use them
Variational Omni asks for no ID. It is closed to US and Canadian persons, Taiwan and sanctioned regions.
HTX limits trading without ID. Trading starts without ID, inside limits that verification lifts. Accounts opened since 2026-03-30 without ID can trade futures up to 5x and have no API trading. More leverage and the API need level-2 KYC.
Token and points
Variational Omni has no token yet. As of 19 September 2026 its points and airdrop program was "Active", and the airdrops page tracks programs and launches. The exchange runs no vault that arb.sh tracks. HTX's token is $HTX.
Reading the numbers on this page
Variational Omni publishes open interest as the sum of traders' longs and shorts, against a pool or dealer. That is about twice a one-side count. HTX publishes one side of open positions. The open interest row and chart above are therefore not a like-for-like comparison of size.
Neither exchange has a TVL row or chart. DefiLlama has no figure for Variational Omni, and centralized exchanges such as HTX publish none. Variational Omni also prices by request-for-quote, so it has no public book depth. Read its BTC depth row with that in mind. The pages for Variational Omni and HTX list each exchange's fees, markets and funding.
Which one fits you
- Pick Variational Omni if you want to trade from your own wallet without ID and outside the regions it closes.
- Pick Variational Omni if you trade with market orders: 0 bp taker against 6 bp.
- Pick Variational Omni if you want the larger count of perp markets, 557 against 370.
- Pick HTX if you want more stock, commodity and FX markets on one exchange, 251 against 121.
- Pick HTX if you need leverage above 50x, up to 200x.
- Pick HTX if you want a central limit order book you can rest limit orders on, or a token, $HTX.