Safely trade bilateral derivatives on any token
Safely trade bilateral
derivatives
futures
options
perps
derivatives
on
any
token
Safely trade bilateral derivatives on any underlying market
Built on Arbitrum.
Benefits
Mitigate counterparty risk
Face your counterparty directly instead of pooling risk on an exchange, where the entire platform may become insolvent. Protect against counterparty default with our configurable real-time margin and liquidation engine.
Trade unlisted & custom derivatives
Go long/short tokens before they are listed on a centralized exchange. Build custom futures and options—as long as there is a price feed for the underlying, you can trade it.
Modernize OTC flows
Centralize your OTC trading on Variational to access aggregated liquidity and fully automate clearing, settlement, risk management, and reporting.
Trade peer to peer.
Variational automates the rest.
Customizable
Source liquidity on futures, options, and other payoff structures for any token. Define your own liquidation rules and margin requirements.
Non-custodial
Collateral is securely locked in escrow contracts on-chain where it is observable and segregated. No third party, including Variational, has access to your assets.
Bilateral
Face your counterparty directly—no worrying about commingling risk with other users or exchange/ platform bankruptcy.
How It Works
RFQ platform
Access liquidity on thousands of derivatives markets and get the best price from a global network of market makers.
Bilateral settlement pools
Create bilateral settlement pools using escrow smart contracts with customizable margin rules.
Real-time liquidation
Set custom parameters per counterparty with our advanced portfolio margin engine. Variational monitors collateral and performs liquidations in real-time.
Automated settlement
Upon expiry, assets are allocated within the settlement pools according to realized profits. Excess collateral can be withdrawn at any time.
Portfolio management
Manage your portfolio and view consolidated risk metrics in one place.
Start Trading
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