Variational Omni vs MEXC
MEXC traded 4.1× Variational Omni's 24-hour volume ($11.53B vs $2.80B).
Head to head
the arrow points to the better figure| Variational Omni | MEXC | |
|---|---|---|
| Trading | ||
| $1.53 | ◀BTC trade, $10k | $4.01 |
| $566 | BTC trade, $1M▶ | $410 |
| — | BTC book depth | $56.7M |
| 0.000%/0.000% | ◀Taker / maker | 0.020%/0.000% |
| 50x | Max leverage▶ | 1000x |
| Size | ||
| $2.80B | Volume 24h▶ | $11.53B |
| $2.65B | Volume, 7-day average▶ | $10.47B |
| $1.04Blongs + shorts | Open interest | $14.58Bone side |
| — | TVL | — |
| Markets | ||
| 560 | Markets▶ | 1219 |
| 124 | ◀Stocks & RWA | 93 |
| 1h or 4h or 8h | Funding paid every | 1h or 4h or 8h or 24h |
| +0.0077% | BTC funding /8h | +0.0042% |
| — | BTC longs paid, 30d | +0.447% |
| Access | ||
| No ID | ◀KYC | Required |
| none yet | Token | $MX |
| Active | Airdrop | — |
Cost to trade BTC
| Size | Variational Omni | MEXC |
|---|---|---|
| $1k | $0.151.5 bp | $0.404.0 bp |
| $10k | $1.531.5 bp | $4.014.0 bp |
| $100k | $15.701.6 bp | $40.124.0 bp |
| $1M | $5665.7 bp | $4104.1 bp |
| $5M | — | $2,3304.7 bp |
HYPE funding per day
pair pageSize
daily, last 30 daysVolume by asset class
last 30 daysOn both: 431
funding /8h · Net 7d at $10k| Asset | Variational Omni | MEXC | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0077% | +0.0042% | +0.0035% | +$2 |
| ETH | +0.0082% | +0.0045% | +0.0037% | +$2 |
| SOL | +0.0100% | +0.0087% | +0.0013% | $0 |
| ZEC | +0.0100% | +0.0100% | 0.0000% | −$13 |
| HYPE | +0.0100% | +0.0048% | +0.0052% | +$5 |
| XAUT | +0.0097% | +0.0100% | +0.0003% | −$11 |
| NEAR | −0.0109% | +0.0054% | +0.0163% | −$13 |
| PAXG | +0.0100% | +0.0100% | 0.0000% | −$14 |
| ENA | +0.0100% | +0.0100% | 0.0000% | −$17 |
| PUMPFUN | +0.0100% | +0.0100% | 0.0000% | −$46 |
| XRP | +0.0100% | +0.0100% | 0.0000% | +$1 |
| LTC | −0.0116% | −0.0080% | +0.0036% | +$6 |
| BNB | −0.0019% | 0.0000% | +0.0019% | −$7 |
| AAVE | −0.0068% | +0.0027% | +0.0095% | −$4 |
| XMR | +0.0100% | +0.0100% | 0.0000% | −$30 |
| UNI | −0.0034% | +0.0055% | +0.0089% | −$11 |
| ZRO | −0.0062% | +0.0100% | +0.0162% | −$37 |
| XPL | +0.0100% | +0.0100% | 0.0000% | −$55 |
| WLD | +0.0049% | −0.0131% | +0.0180% | −$19 |
| LINK | +0.0040% | +0.0013% | +0.0027% | −$21 |
Only on Variational Omni: 120
SP500 · QQQ · CL · BZ · LIGHTER · SPCX · GOOGL · SNDK · MU · AMZN · NBIS · META · MON · AAPL · CRCL · HOOD · SKHY · INTC · ORCL · MSFT · MSTR · AMD · TSM · COIN · STRC · BABA · PLTR · NATGAS · MRVL · AVGO · UBER · BRKB · LLY · METEORA · CRWV · CBRS · SOON · TTWO · BBX · LITE · IREN · NFLX · ARM · QCOM · MRNA · CRDO · COST · HIMS · RKLB · NVO · DELL · IBM · BMNR · HPE · HD · USAR · STXX · SENTIENT · FWDI · AAOI · and 60 more
Only on MEXC: 664
SNDKSTOCK · UKOIL · SPX500 · USOIL · SPCXSTOCK · SKHYNIXSTOCK · CRCLSTOCK · RBLXSTOCK · MUSTOCK · GBP · CAD · TRUMPOFFICIAL · NAS100 · QNTSTOCK · BTW · SHIB · MSTRSTOCK · USDC · GRAM · MSFTSTOCK · SPY · CHF · FILECOIN · GOOGLSTOCK · JPY · WDCSTOCK · AMDSTOCK · COINBASE · AAPLSTOCK · KORU · FF · SKHYSTOCK · ORCLSTOCK · US30 · PI · TRUTH · INFQSTOCK · LUNC · COSTSTOCK · BRKBSTOCK · OL · ZKSYNC · QQQSTOCK · ALLO · SKUU · PLAY · MASTOCK · ALUMINUM · TRY · LIT · AUD · RIF · RGTISTOCK · TSEMSTOCK · AMZU · INTCSTOCK · VRTXSTOCK · ISRGSTOCK · EVAA · SAMSUNGSTOCK · and 604 more
Questions
Is Variational Omni or MEXC cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $1.53 on Variational Omni and $4.01 on MEXC right now, taker fee and order-book slippage together, so Variational Omni is cheaper. Taker fees: 0% and 0.02%.
Which has more markets, Variational Omni or MEXC?
Variational Omni lists 560 active markets and MEXC 1219; 431 assets trade on both, 25 of them stocks, commodities or other real-world assets.
Does Variational Omni or MEXC require KYC?
Variational Omni: No ID; not for US or Canadian persons, Taiwan or sanctioned regions. MEXC: KYC before trading since Feb 2026; unverified accounts see market data only.
Can you arbitrage funding between Variational Omni and MEXC?
Yes: 14 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 ARK, long on Variational Omni and short on MEXC, with $575 left after costs.
Which is bigger, Variational Omni or MEXC?
24-hour volume: Variational Omni $2.80B, MEXC $11.53B. Open interest as each reports it: $1.04B and $14.58B. Variational Omni reports open interest as the sum of its traders' longs and shorts; MEXC reports one side. For the same positions Variational Omni's figure reads about twice as large.
More comparisons
allVariational Omni vs MEXC: which to use
Variational Omni vs MEXC is a decentralized exchange against a centralized one. On Variational Omni you trade from a self-custody wallet without ID, at 0 bp maker and 0 bp taker, with up to 50x. MEXC requires KYC before trading, holds your funds in an account, and charges 1 bp maker and 4 bp taker, with up to 1000x. As of 1 October 2026 MEXC lists 1202 perp markets against 557 on Variational Omni. Custody, ID and fee structure are the main differences: Variational Omni suits wallet-based trading at zero base fees, MEXC suits traders who want an order book, a larger market list and higher leverage.
How each exchange is built
Variational Omni is a decentralized exchange (DEX) that runs on Arbitrum. You trade from a self-custody wallet. It has no public order book: a market maker quotes each trade, a model called request-for-quote.
MEXC 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.
For the trader this changes two things. On Variational Omni your funds stay in your wallet, and the price of a trade is the quote you receive. On MEXC your funds sit in the account and you can read the book and rest orders on it.
Fees and what they mean
Variational Omni's base tier is 0 bp maker and 0 bp taker, per Variational's fee documentation. MEXC's base tier is 1 bp maker and 4 bp taker, read from MEXC's API. MEXC has no fee page to link.
A market order pays the taker fee on entry and again on exit. That is 0 bp per round trip on Variational Omni and 8 bp on MEXC. A limit order that rests on the book pays the maker fee instead: 1 bp on MEXC. Variational Omni has no public book to rest an order on, since a market maker quotes each trade.
The fee is only part of a trade's cost. Slippage is the price moved by eating through the order book, and it 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. You can also compare trading cost across every exchange.
Markets and leverage
As of 1 October 2026 Variational Omni has 557 active perp markets, 121 of them stocks, commodities, FX or other real-world assets. MEXC has 1202, 93 of them real-world assets. The real-world asset perps page lists these markets across exchanges.
Variational Omni offers up to 50x on its highest-leverage market and MEXC up to 1000x. Most markets on both allow less.
Funding is the periodic payment between longs and shorts, and a positive rate means longs pay shorts. Variational Omni pays every 1h, 4h or 8h depending on the market. MEXC pays every 1h, 4h, 8h or 24h. An hourly market settles 24 times a day, an 8-hour market three times, and a 24-hour market once. Check a market's interval before you hold it. The list further down this page shows the markets both exchanges have, with each one's funding rate and the Net 7d figure.
Who can use them
Variational Omni asks for no ID. It is not for US or Canadian persons, Taiwan or sanctioned regions. MEXC requires KYC before trading, in force since February 2026. Unverified accounts see market data only.
Token and points
Variational Omni has no token yet and no vault run by the exchange that arb.sh tracks. As of 19 September 2026 its points and airdrop program status was Active. You can follow it on the airdrops page. MEXC's token is $MX.
Reading the numbers on this page
Open interest is counted differently. Variational Omni publishes the sum of traders' longs and shorts, against a pool or dealer. That is about twice a one-side count. MEXC publishes one side of open positions. For the same positions Variational Omni's figure reads about twice as large, so the open interest row and chart above are not a like-for-like comparison of size.
TVL is missing on both. DefiLlama has no figure for Variational Omni, and centralized exchanges such as MEXC publish none, so the TVL row and chart have nothing to show.
Which one fits you
- Pick Variational Omni if you want to keep funds in your own wallet and trade without ID.
- Pick Variational Omni if you trade with market orders and want a 0 bp taker fee against 4 bp.
- Pick Variational Omni if you want to follow a points program, which had Active status as of 19 September 2026.
- Pick MEXC if you prefer an exchange account and accept KYC before trading.
- Pick MEXC if you want a central limit order book where a limit order rests and pays 1 bp maker.
- Pick MEXC if you need more than 50x, or a longer market list: 1202 perps against 557 as of 1 October 2026.