Head to head
the arrow points to the better figure| Variational Omni | N1 | |
|---|---|---|
| Trading | ||
| $1.00 | ◀BTC trade, $10k | $11.93 |
| $453 | BTC trade, $1M | — |
| — | BTC book depth | $388K |
| 0.000%/0.000% | ◀Taker / maker | 0.035%/0.010% |
| 50x | Max leverage≈ | 50x |
| Size | ||
| $2.76B | ◀Volume 24h | $2.6M |
| $2.02B | ◀Volume, 7-day average | $2.5M |
| $837.5Mlongs + shorts | Open interest | $854Kone side |
| — | TVL | — |
| Markets | ||
| 587 | ◀Markets | 40 |
| 157 | ◀Stocks & RWA | 0 |
| 1h or 4h or 8h | Funding paid every | 1h |
| +0.0100% | BTC funding /8h | +0.0064% |
| +0.711% | BTC longs paid, 30d | +0.505% |
| Access | ||
| No ID | KYC | No ID |
| none yet | Token | none yet |
| Active | Airdrop | — |
Cost to trade BTC
| Size | Variational Omni | N1 |
|---|---|---|
| $1k | $0.101.0 bp | $1.0610.6 bp |
| $10k | $1.001.0 bp | $11.9311.9 bp |
| $100k | $10.001.0 bp | $24824.8 bp |
| $1M | $4534.5 bp | — |
| $5M | — | — |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 39
funding /8h · Net 7d at $10k| Asset | Variational Omni | N1 | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0100% | +0.0064% | +0.0036% | +$1 |
| ETH | +0.0100% | +0.0064% | +0.0036% | −$9 |
| HYPE | +0.0100% | +0.0208% | +0.0108% | +$1 |
| SOL | +0.0100% | +0.0096% | +0.0004% | −$48 |
| BNB | +0.0100% | +0.0040% | — | — |
| JUP | +0.0100% | 0.0000% | — | — |
| S | +0.0100% | +0.0736% | — | — |
| LIT | +0.0100% | −0.0680% | — | — |
| VVV | +0.0100% | +0.0360% | — | — |
| NEAR | +0.0100% | +0.0120% | — | — |
| AAVE | +0.0029% | −0.0040% | — | — |
| PAXG | +0.0100% | +0.0256% | — | — |
| ZEC | +0.0100% | +0.0208% | — | — |
| MORPHO | +0.0100% | −0.0176% | — | — |
| SUI | +0.0099% | −0.0200% | — | — |
| PUMP | −0.0129% | −0.0080% | — | — |
| XRP | +0.0100% | +0.0112% | — | — |
| ARB | −0.0033% | −0.0224% | — | — |
| ASTER | +0.0100% | +0.0088% | — | — |
| ENA | +0.0100% | −0.0136% | — | — |
Only on Variational Omni: 531
XAU · XAUT · QQQ · SP500 · CL · GOOGL · BZ · XAG · NVDA · ANTHROPIC · SOXL · SPCX · SNDK · ADA · MU · META · LTC · MSTR · AAPL · STRC · INTC · COPPER · AMZN · SOXS · LINK · AVAX · NBIS · EWY · MSFT · DRAM · CRCL · GRASS · SKHY · NATGAS · TSLA · COIN · ICP · CRWV · TRUMP · HOOD · AMD · ORCL · CRV · BRKB · OPENAI · PONS · PLTR · ATOM · HBAR · DOT · STRK · QNT · LLY · TRX · IRYS · ETHFI · SKY · NOW · XPD · TSM · and 471 more
Only on N1: 1
Questions
Is Variational Omni or N1 cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $1.00 on Variational Omni and $11.93 on N1 right now, taker fee and order-book slippage together, so Variational Omni is cheaper. Taker fees: 0% and 0.035%.
Which has more markets, Variational Omni or N1?
Variational Omni lists 587 active markets and N1 40; 39 assets trade on both.
Does Variational Omni or N1 require KYC?
Variational Omni: No ID; not for US or Canadian persons, Taiwan or sanctioned regions. N1: No ID; closed to residents and citizens of the US, Canada, Russia and sanctioned countries.
Can you arbitrage funding between Variational Omni and N1?
Yes: 2 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 BTC, long on N1 and short on Variational Omni, with $1 left after costs.
Which is bigger, Variational Omni or N1?
24-hour volume: Variational Omni $2.76B, N1 $2.6M. Open interest as each reports it: $837.5M and $854K. Variational Omni reports open interest as the sum of its traders' longs and shorts; N1 reports one side. For the same positions Variational Omni's figure reads about twice as large.