Variational Launches Swap Markets for Gold and Nasdaq 100

Arbitrum-based derivatives protocol Variational has launched its swap trading markets, featuring Gold (XAU) and the Nasdaq 100 Index (US100). Similar to perpetual futures, these swaps provide exposure to underlying assets but utilize USD lending rates for holding costs rather than volatile funding rates. Long positions currently pay an annualized 4% to 6%, while short positions receive 2% to 3%. The platform currently charges zero trading fees. The initial open interest limit is set at $10 million per market, with plans to increase this to over $50 million