Variational vs Fomo

Variational

Omni, Variational's trading app, charges no maker or taker fee on any market or trade size. Every trade fills at a price quoted by OLP, Variational's own market maker, so the cost of a trade is the spread in that quote, which the order form shows for your size. Deposits and withdrawals cost a flat 0.1 USDC each, and a liquidation closes the position 0.5% past the quote.

Fomo

Spot trades cost 0.50% each on every network. On Solana the cheapest route adds a small-order ladder below 190 USDC and other routes charge at least 0.95 USDC, so the same order can cost different amounts at different moments. On the other chains you also pay the network fee shown in the quote. Tokens the app marks as low fee cost 0.05%. The perps mode charges 0.05% of position size per trade on top of Hyperliquid's fee and funding. Every fee is shown before you confirm, and the Terms let Fomo change fees at any time.

Variational

You connect an EVM wallet (Rabby, MetaMask, or anything on WalletConnect), enter an access code while Omni is in private beta, accept the Terms, and sign in with a gasless signature. No identity check is asked for to trade, deposit, or withdraw. KYC applies only to some payouts: referral rewards of $4,000 or more from the on-chain trader campaign, and trading competition prizes. The app checks your location by IP and shows a restricted-region notice to visitors from restricted countries.

Fomo

You sign up with an Apple ID, a Google account, or an email code, and Fomo creates a Solana wallet and an EVM wallet for you through Privy. There is no identity check to open the account, to trade, or to withdraw to a crypto wallet, and the private keys can be exported from Settings at any time. The one ID step is the first withdrawal to a US bank account, which needs a government ID through Spritz, Fomo's payment partner. The Terms, dated August 17, 2026, reserve the right to require KYC for the perps mode, and the card and Apple Pay providers apply their own rules.

Variational

The Restricted Persons policy, last updated April 20, 2026, bars the US and its territories (Puerto Rico, Guam, the US Virgin Islands, the Northern Mariana Islands, and the US Minor Outlying Islands), Canada, Taiwan, Cuba, Iran, North Korea, Sudan, Syria, Micronesia, the Marshall Islands, Palau, and the Crimea, Donetsk, Luhansk, and Sevastopol regions of Ukraine. It also bars US and Canadian persons wherever they live, and the Terms, last updated September 11, 2026, extend the ban to citizens of a restricted country as well as residents. The app applies the list by IP address, and the Terms forbid using a VPN to disguise your location.

Fomo

The Terms, dated August 17, 2026, bar residents, citizens, and anyone located in Cuba, the Democratic Republic of Congo, Iran, Libya, Myanmar, North Korea, Sudan, Venezuela, and Yemen, plus the Crimea, Donetsk, and Luhansk regions, any other country embargoed or sanctioned by the US, the UK, or the EU, and any jurisdiction where crypto trading is prohibited. Perps are not offered to US persons, a definition that includes US citizens living abroad, and Robinhood's stock and ETF tokens are also closed to residents of Canada, the UK, and Switzerland. Spot trading has no US exclusion. You must be 18, and using a VPN to get around any of this breaches the Terms.

Variational

Every crypto perpetual allows up to 50x. Perpetuals on stocks, ETFs, commodities, indexes, and pre-IPO companies cap at 20x, and swaps at 10x, with cocoa at 5x. The markets page shows each market's cap. Maintenance margin is half the initial margin at the leverage you pick, so lowering leverage on an open position can move its liquidation price closer. Positions are cross-margined unless you switch a market to isolated, and swaps are isolated only until they trade around the clock.

Fomo

Leverage is picked in whole numbers up to a cap set per asset: 40x on BTC, 25x on ETH, 20x on SOL, and 10x on most altcoins. The caps for stock, index, and commodity perps are not published. Every position is isolated, so a liquidation costs only that position's margin, and you can add or remove margin on an open position. Collateral is USDC in a separate perps balance, moved in from the token balance (5 USDC minimum in, 2 USDC out), and the smallest position is 15 USDC notional. Liquidation, stop-loss, and take-profit all trigger on Hyperliquid's mark price, not the chart price. A triggered order fills as a market order with a 10% slippage allowance, and funding is paid or received every hour. The Terms warn that the protocol can auto-deleverage profitable positions and that non-crypto markets may lack an insurance fund.

Variational

Omni's public API listed 568 markets on October 12, 2026: 434 crypto perpetuals, 120 perpetuals on stocks, ETFs, commodities, indexes, and the pre-IPO names Anthropic and OpenAI, and 14 swaps. Swaps track gold, silver, oil, gasoline, copper, cocoa, US and Asian equity indexes, the VIX, and the dollar index, with financing tied to traditional rates, and they trade market hours and close on weekends. Perps trade around the clock. There is no order book: market orders fill at the quote, limit orders fill in full once the quote crosses your price, and trigger orders fire on the mark price. Take-profit and stop-loss orders fire on the mark or the quoted price, your choice. Limit orders do not fill partially yet, and open orders expire after 120 days.

Fomo

Spot covers tokens on Solana, Base, BNB Chain, Monad, Ethereum, Robinhood Chain, and Arc, bought from one USDC balance with no bridging. The app labels each token verified, unverified, or with a warning, and Robinhood Chain carries Robinhood's US stock and ETF tokens, which are OTC derivatives issued by Robinhood Europe UAB rather than shares. Perps, launched June 11, 2026, cover everything listed on Hyperliquid and trade.xyz: crypto such as BTC, ETH, SOL, and HYPE, US stocks such as NVDA and GOOGL, the S&P 500, Nasdaq 100, Kospi 200, and Nikkei 225, oil, gold, silver, copper, and natural gas, and pre-IPO markets including SpaceX. Perps positions open with market orders and can carry stop-loss and take-profit triggers and a limit close, and spot trades are instant buys and sells at the quoted price.

Variational

Collateral is USDC on Arbitrum One, deposited from the wallet you signed up with. The docs name no other route: funds on another chain have to be bridged to Arbitrum first, or withdrawn there from an exchange. Deposits are gasless, so you need no ETH, and each one costs a flat 0.1 USDC. Your USDC sits in an on-chain settlement pool between you and OLP, kept separate from every other trader's pool.

Fomo

The Deposit screen offers four routes, and not every account sees all of them. A bank-issued debit card funds the USDC cash balance within a few minutes. The card screen refuses prepaid and virtual cards, Apple Cash, and Cash App, Venmo, PayPal, and Zelle cards, and card deposits are not offered in every country. Apple Pay works two ways: on the card screen it pays with a debit card saved in Apple Wallet and funds the cash balance, with a weekly limit and a cap on total transactions on some accounts, and Buy with Apple Pay purchases a single token directly through Crossmint, capped at 2,500 dollars a day. Under Exchanges and apps, Pay with Coinbase draws on a Coinbase account, and some accounts can also pay through Cash App. Crypto deposits take USDC on Solana, Base, BNB Chain, Monad, or Ethereum, and USDG on Robinhood Chain, which converts into the Solana USDC balance. The smallest deposit that credits is 15 USDC on Ethereum and 0.50 on Base, BNB Chain, Monad, and Robinhood Chain, with no minimum on Solana. The help center publishes no card fee. On the web you fund with crypto, and the web launch post says card and Apple Pay deposits are done in the mobile app.

Variational

Withdrawals send USDC on Arbitrum back to the wallet connected to your account, the only destination allowed. They are gasless and cost a flat 0.1 USDC. With positions open, you can withdraw only the balance above your margin requirement.

Fomo

You withdraw USDC from the cash balance to any wallet or exchange address on Solana, Base, BNB Chain, Monad, Ethereum, or Arc, or USDG on Robinhood Chain, choosing the network to match the destination. The help center lists no withdrawal fee for these. Bank withdrawals go through Spritz and reach US bank accounts only, after a one-time ID check: the minimum is 5 dollars, a regular transfer takes 1 to 3 business days, and a same-day Faster option, for requests between 9 AM and 5 PM Eastern on a business day, carries an extra fee that is not published. Anything other than USDC leaves only by exporting the private key into another wallet, positions under 2 USDC (5 on Ethereum) cannot be sold in the app, and perps collateral has to move back to the token balance first.

Variational

Variational has no token yet. It says $VAR launches in Q4 2026 with 32% of supply airdropped to points holders in proportion to their points, all of it unlocked at launch. Points are earned by trading on Omni and go out weekly until the launch. No date, token price, or points-to-token rate has been published. An account needs at least 1 point and must sign the $VAR terms to receive tokens, and the Terms let Variational change or withhold points at its discretion. Variational says it will use all revenue sent to its treasury to buy back and burn $VAR.

Fomo

Fomo has no token and no points program, and has never airdropped a token of its own. In November 2025 eligible power users could claim MON in the app when Monad launched, with the amount and rules unpublished. Fomo's help center and Terms say nothing about a token, and neither do its funding announcements.

Variational

During the private beta, an existing trader's referral code is the access code a new account needs. A referral link carries the code in the address, and the app picks it up for the access-code step after you connect a wallet. The referrer earns 5% of the spread their referrals pay, in USDC, and 1 point for every 10 points their referrals earn. Traders unlock a first referral code at $1M in volume and one more slot for each $1M after that, and the app rejects invalid or expired codes. A campaign running since August 12, 2026 also gives points to 10,000 listed on-chain trader addresses that sign up with a code and reach volume milestones.

Fomo

Signing up through another user's link, fomo.family/r/ followed by their username, takes 10% off trading fees, so the standard 0.50% rate becomes 0.45% on every trade. The code goes in on the signup screen and there is no field to add it later, though support can attach a code that was missed at signup. The help center describes the discount against the spot rate and does not say whether it applies to perps. The referrer receives 25% of the referred user's trading fees on Solana and the EVM networks, paid into their cash balance. Creators can apply to a separate affiliate program with Silver, Gold, and Platinum tiers whose rates are not published. The Terms ban self-referral and let Fomo claw back rewards.

Variational

Omni runs in the browser at omni.variational.io and is built for mobile browsers too. Variational publishes no native app and says none is needed: on a phone you can add Omni to the home screen as a web app, then link it to a signed-in desktop session with a QR code instead of connecting a wallet on the phone. A read-only API serves market data, and the trading API is not available yet.

Fomo

Fomo is an iOS app (rated 18+ on the App Store, developer FOMO Labs Inc.), an Android app on Google Play, and, since April 29, 2026, a web app at fomo.family that shares the same account, balance, positions, and follows. You sign in with an Apple ID, a Google account, or an email code. On phones, an optional Face ID or fingerprint check, turned on in Settings, guards withdrawals and key exports and can also lock the app. The app is built around a live feed of other users' trades and theses, a leaderboard ranked by realized and unrealized PnL, alerts when traders you follow buy or sell, and TradingView charts. There is no copy trading. Spot trades are instant buys and sells at the quoted price, and the help center documents no limit orders and no API. Perps trade from the same account with one-click orders, stop-loss and take-profit levels, and a limit close.