V
Variational Implied OLP Exposure & OI Imbalance
Variational intends to use 100% of treasury-directed revenue for VAR buy-and-burn after TGE. perpdex.io uses positive daily treasury USDC balance changes as an experimental reference, without treating balance changes as confirmed revenue or executed buybacks.
DERIVED EXPOSURE
OI Imbalance & Implied OLP Exposure
Derive directional imbalance from official Long/Short OI. Implied OLP Exposure is not a verified external position.
SNAPSHOT TIMINGDifferences in on-chain snapshot timing may cause minor data discrepancies.
On-chain verifiedOfficial APIDerivedExperimentalOLP core ledgerPublication stateBACKFILLING
Official Total OIOfficial API
$2.09BVariational public statsGross Implied OLP ExposureDerived
$419.25MNot an observed external hedgeCore OLP VaultOn-chain
$21.01MVerifiable USDCVault / Gross ExposureExperimental
5.01%Context only; not a solvency ratioLargest Market ImbalanceDerived
100%STXXImplied Exposure vs Official OI
Implied directional exposure is not an observed external hedge position
Top Exposure Markets
Ranked by abs(Long OI - Short OI)
| Ticker | Long OI | Short OI | Net Users | Implied OLP | Imbalance | Funding p.a. |
|---|---|---|---|---|---|---|
| ETHEthereum | $102.29M | $54.41M | +$47.89M | -$47.89M | 30.56% | 10352.02% p.a. |
| XAUSSwap on Gold Spot | $42.72M | $6.44M | +$36.29M | -$36.29M | 73.82% | N/A |
| ZECZcash | $34.72M | $3.75M | +$30.97M | -$30.97M | 80.51% | 9100.44% p.a. |
| HYPEHyperliquid | $27.44M | $8.52M | +$18.92M | -$18.92M | 52.63% | 11990.25% p.a. |
| US100SSwap on US Non-Financial 100 | $46.58M | $32.65M | +$13.93M | -$13.93M | 17.58% | N/A |
| US500SSwap on US 500 | $29.41M | $17.16M | +$12.25M | -$12.25M | 26.31% | N/A |
| BTCBitcoin | $108.79M | $96.73M | +$12.07M | -$12.07M | 5.87% | 9090.8% p.a. |
| NEARNEAR Protocol | $12.33M | $699.1K | +$11.63M | -$11.63M | 89.26% | -38795.08% p.a. |
| XAUTTether Gold | $19.71M | $8.63M | +$11.08M | -$11.08M | 39.08% | 14566.79% p.a. |
| SOLSolana | $22.58M | $11.71M | +$10.87M | -$10.87M | 31.71% | -2146.97% p.a. |
| XAUGold | $18.8M | $29.19M | -$10.38M | +$10.38M | 21.64% | 8611.52% p.a. |
| USOILPSwap on WTI Crude Oil | $8.29M | $721.96K | +$7.56M | -$7.56M | 83.97% | N/A |
| QQQInvesco QQQ Trust, Series 1 | $12.11M | $4.94M | +$7.16M | -$7.16M | 42.02% | 6440.24% p.a. |
| XAGSSwap on Silver Spot | $9.54M | $2.4M | +$7.14M | -$7.14M | 59.79% | N/A |
| PUMPFUNPump.fun | $6.29M | $399.14K | +$5.89M | -$5.89M | 88.07% | 23980.5% p.a. |
| LIGHTERLighter | $6.96M | $1.22M | +$5.74M | -$5.74M | 70.25% | 23980.5% p.a. |
| AAVEAave | $5.72M | $95.92K | +$5.63M | -$5.63M | 96.7% | 791.36% p.a. |
| GOOGLAlphabet Inc. | $5.89M | $470.1K | +$5.42M | -$5.42M | 85.21% | 24455.62% p.a. |
| PAXGPAX Gold | $3.02M | $8.37M | -$5.36M | +$5.36M | 47.02% | 23980.5% p.a. |
| LTCLitecoin | $4.61M | $319.79K | +$4.29M | -$4.29M | 87.01% | -211.88% p.a. |
| ENAEthena | $4.54M | $351.75K | +$4.19M | -$4.19M | 85.62% | 23980.5% p.a. |
| BZBrent Oil | $3.78M | $7.81M | -$4.03M | +$4.03M | 34.79% | -54010.22% p.a. |
| WLDWorldcoin | $3.36M | $153.74K | +$3.21M | -$3.21M | 91.26% | 11990.25% p.a. |
| UNIUniswap | $3.69M | $496.06K | +$3.2M | -$3.2M | 76.31% | -5636.95% p.a. |
| CLWTI Crude Oil | $8.37M | $5.42M | +$2.95M | -$2.95M | 21.41% | 0% p.a. |
| XRPXRP | $4.2M | $1.25M | +$2.94M | -$2.94M | 54.05% | 11990.25% p.a. |
| LINKChainlink | $3M | $72.13K | +$2.93M | -$2.93M | 95.31% | -3501.59% p.a. |
| TAOBittensor | $3.13M | $218.61K | +$2.91M | -$2.91M | 86.94% | 23980.28% p.a. |
| SNDKSandisk Corporation | $3.46M | $682.1K | +$2.78M | -$2.78M | 67.1% | 0% p.a. |
| NVDANVIDIA Corporation | $4.34M | $1.64M | +$2.7M | -$2.7M | 45.04% | 18125.1% p.a. |
| GRASSGrass | $2.76M | $76.41K | +$2.68M | -$2.68M | 94.61% | 23980.5% p.a. |
| US500State Street SPDR S&P 500 ETF Trust | $12.18M | $9.53M | +$2.65M | -$2.65M | 12.2% | 7068.99% p.a. |
| MUMicron Technology, Inc. | $3.32M | $713.33K | +$2.61M | -$2.61M | 64.62% | 18347.82% p.a. |
| ADACardano | $288.73K | $2.72M | -$2.43M | +$2.43M | 80.83% | 3740.08% p.a. |
| AVAXAvalanche | $2.51M | $97.37K | +$2.42M | -$2.42M | 92.54% | -7278.79% p.a. |
| ZROLayerZero | $2.92M | $537.54K | +$2.39M | -$2.39M | 68.94% | 23980.5% p.a. |
| XAGSilver | $4.89M | $2.51M | +$2.38M | -$2.38M | 32.21% | 38340.33% p.a. |
| BNBBNB | $3.66M | $1.41M | +$2.25M | -$2.25M | 44.3% | -10331.98% p.a. |
| XMRMonero | $3.27M | $1.13M | +$2.15M | -$2.15M | 48.83% | 11990.25% p.a. |
| METAMeta Platforms, Inc. | $2.31M | $265.8K | +$2.04M | -$2.04M | 79.33% | 7195.68% p.a. |
| ASTERAster | $2.43M | $391.94K | +$2.04M | -$2.04M | 72.24% | -7389.06% p.a. |
| AEROAerodrome Finance | $2.14M | $128.15K | +$2.01M | -$2.01M | 88.7% | -49034.1% p.a. |
| VVVVenice Token | $2M | $16.22K | +$1.99M | -$1.99M | 98.39% | 23980.5% p.a. |
| TWISSwap on Taiwan Index | $3.46M | $1.52M | +$1.94M | -$1.94M | 38.89% | N/A |
| NBISNebius Group N.V. | $2.12M | $298.3K | +$1.82M | -$1.82M | 75.32% | 17334.4% p.a. |
| AMZNAmazon.com, Inc. | $2.34M | $568.91K | +$1.77M | -$1.77M | 60.82% | 31171.37% p.a. |
| MONMonad | $2.04M | $294.14K | +$1.74M | -$1.74M | 74.74% | 11990.25% p.a. |
| HOODRobinhood Markets, Inc. | $1.71M | $63.28K | +$1.65M | -$1.65M | 92.88% | 25943.62% p.a. |
| ANTHROPICAnthropic | $1.96M | $539.99K | +$1.42M | -$1.42M | 56.76% | 5995.13% p.a. |
| SPCXSPAC and New Issue ETF | $2.3M | $3.68M | -$1.38M | +$1.38M | 23% | 8104.53% p.a. |