Variational vs Jupiter Perps
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
| Line | Variational | Jupiter Perps |
|---|---|---|
| 30-day volume | #P04 · $50,872.0MEdge | #P10 · $6,207.0M |
| Trading fees | 0% trading feesOmni charges no trading fee: the venue keeps the market-making spread instead. Deposits and withdrawals cost a flat $0.10 in USDC, and a forced liquidation is executed 0.5% away from the bid or ask.Edge | 0.06% per open or closeNo order book and no maker/taker split on the JLP markets (SOL, ETH, wBTC): a 0.06% base fee is charged on open and on close, plus a price-impact fee that grows with the clip and with the imbalance of open interest, an hourly borrow fee, and a swap fee of 10 bps (2 bps on stablecoins) when the input token has to be converted. Beta markets charge a taker or maker fee per order plus an hourly funding rate instead. |
| New-user perk | 1 point for every 10 points earnedEdge | None documented |
| Max leverage | Not documented | up to 250×Edge |
| Perp markets | 500Edge | 9 |
| Identity check | No KYC | No KYC |
| Custody | Non-custodial, EVM wallet, gasless deposits | Non-custodial, Solana wallet |
| Settles on | Arbitrum (Variational settlement pools) | Solana |
| Collateral | USDC | USDC, SOL, wETH, wBTC |
| Where it runs | Web | Web, iOS, Android |
| Chains | EVMArbitrum | SolanaSolana |
| Documented features | 4 of 10 | 6 of 10Edge |
| Order book | No | Not documented |
| Cross margin | Yes | Not documented |
| Spot trading | No | Yes |
| Vaults / copy vaults | Yes | Yes |
| Copy trading | Not documented | Not documented |
| Stocks, gold or forex | Yes | Yes |
| Points program | Yes | Yes |
| API | Not documented | Yes |
| Mobile app | Not documented | Yes |
| Telegram bot | No | No |
Which one should you pick?
Pick Variational if
You want one cross-margined account for crypto, equities, commodities and forex with no visible trading fee.
A zero-fee venue built on RFQ rather than an order book: the platform earns the spread it quotes, so your real cost is the price you accept, not a line on a fee schedule.
omni.variational.io
Pick Jupiter Perps if
You already live in the Jupiter ecosystem and want perps without leaving the app or the mobile client.
Perps are one tab inside the largest Solana app: three markets trade against the JLP pool, with leverage up to 250x, and six Beta markets add JUP, HYPE, ZEC and tokenised stocks. The 0.06% base fee is the highest of the series, and borrow fees keep accruing while a position is open.
jup.ag
