VOL. I · NO. 04 ·
2026
UTC --:--:--
perpsindex.
§ A field guide

Time is the variable that decides whether a displayed number is a fact or a fantasy.

01 / 03

The track record

Every signal the screener has fired, resolved by first touch: a 20% take profit or a 10% stop loss, whichever lands first. No cherry-picking, no quiet deletions. Wins and losses are both shown, each return printed next to the drawdown it took to get there. Most tools show you the winners. This one shows you the ledger.

Sourced direct from
VariationalHyperliquid
Watch our system's track record live →
FIG. A · the perpetual, dissected
An exploded engraving of a perpetual futures contract drawn as a dissected clockwork instrument, parts labeled by analogy
§i New on Variational

Recently Added to Omni.Variational

Variational is listing tokenized markets the other venues do not have yet. As its rollout deepens it will be the only venue on some of them.

Asset Added Variational dreamcash Felix Exchange HyENA Hyperliquid Ventuals Markets by Kinetiq Paragon tradeXYZ
QCOM
Equities · Qualcomm
Jun 9, 2026
+0.0018%
$676.3K
· · · · · · ·
MU
Equities · Micron
Jun 9, 2026
+0.0044%
$303.7K
· · · ·
+0.0006%
$183.3K
·
+0.0062%
$198.2M
EWJ
ETFs · iShares Japan
Jun 8, 2026
0.0000%
$46.6K
· · · · · ·
+0.0006%
$896.4K
EWY
ETFs · iShares South Korea
Jun 8, 2026
0.0000%
$120.1K
+0.0006%
$799.0K
· · · · ·
+0.0006%
$6.7M
TSM
Equities · TSMC
Jun 8, 2026
0.0000%
$154.0K
· · · · · ·
+0.0006%
$8.0M
INTC
Equities · Intel
Jun 5, 2026
0.0000%
$226.3K
+0.0006%
$1.8M
· · · · ·
−0.0014%
$56.0M
QQQ
ETFs · Invesco QQQ
Jun 5, 2026
+0.0047%
$2.4M
· · · · · · ·
SOXL
ETFs · Semis Bull 3x
Jun 5, 2026
+0.0077%
$427.9K
· · · · · · ·
SPX
Indices · S&P 500
Jun 5, 2026
0.0000%
$4.4M
+0.0006%
$12.3M
−0.0004%
$544.8K
· ·
−0.0005%
$1.8M
·
−0.0033%
$708.6M
TSLA
Equities · Tesla
Jun 5, 2026
0.0000%
$790.0K
+0.0006%
$1.1M
+0.0008%
$178.8K
· ·
+0.0006%
$68.9K
·
+0.0001%
$29.3M
QNTX
Equities · Pre-IPO · Quantinuum
Jun 4, 2026
0.0000%
$30.3K
· · · · · · ·
ANTHROPIC
Equities · Pre-IPO · Anthropic
Jun 2, 2026
+0.0006%
$581.9K
· · ·
+0.0070%
$8.8M
· · ·
§ii Recent reading

Dispatches

All articles →
Mechanics

The Funding Rate With No Order Book

A mechanic-level walk through Omni's funding rate. The premium is measured from the Omni Liquidity Provider's own RFQ quotes rather than an order book, the samples are recency weighted, and the funding window is borrowed from whichever centralized exchange the asset trades on. Each of those choices changes how you should read the number before you put on a fade.

12 min · Jun 8, 2026
Mechanics

When the House Is Your Only Counterparty

Omni runs every trade against the Omni Liquidity Provider. That arrangement segregates your collateral, keeps it from ever being shipped to a centralized exchange, and gives you an unusually humane liquidation engine. It also leaves one residual risk that the marketing will never mention, around OLP solvency and bad debt. A clear-eyed accounting of what protects you and what does not.

12 min · Jun 8, 2026
DEX Coverage

Trading the Whole Economy on One Pile of USDC

A coverage piece on Omni's real-world-asset and pre-IPO perpetual markets. How one cross-margined USDC account can span crypto, commodities, equities, indices, and pre-IPO names, why the listing engine makes that possible, and the four honest nuances that crypto-native traders consistently underestimate when they start trading gold and oil and private companies as perps.

12 min · Jun 8, 2026
Mechanics

One Counterparty, Five Hundred Markets

Variational's Omni lists perpetuals on hundreds of long-tail and small-cap markets that order-book venues will not carry. The reason is structural, not reckless. A single vertically integrated market maker, the OLP, is the sole counterparty to every trade. Here is how the model works and which risks it moves onto the trader.

11 min · May 27, 2026