VOL. I · NO. 04 ·
2026
UTC --:--:--
perpsindex.
← RWA / GAS / Variational vs Felix Exchange
GAS · · ·Mark $1

Variational->GAS<-Felix Exchange

aligning snapshots…
Spread over time Variational rate − Felix Exchange rate, normalized to 1h
1d 7d 30d 90d
Current spread
−0.0931 %
Variational − Felix Exchange
24h change
·
from yesterday
7d average
·
rolling mean
30d average
+0.0015%
rolling mean
Capturable
Staggered
Aligned in 2h 50m
※ Editor's note

The spread between Variational (4h window) and Felix Exchange (1h window) is structurally unstable because the two venues fire on different clocks. The displayed spread will rarely be the realized spread. Alignment, not magnitude, is the question you should be asking. Read the article →