Most modern computing systems rely on standard IEEE 754 hardware for Floating- Point (FP) operations. This approximate representation of real numbers is affected by round-off errors such as cancellation and absorption. The accumulation of these errors may lead to completely inaccurate results. One way to solve this problem is to increase the precision of the data in memory by using Variable-Precision (VP) formats. The VP formats existing in the State of the Art (SoA) are UNUM, Posit and the “IEEE-Like” category. The aim of this work is to compare VP FP formats, evaluating which of them minimizes both computational error and execution latency.