  Spatial phase-referencing in dual-field optical interferometry is
reconsidered. Our analysis is based on the 2-sample variance of the
differential phase between target and reference star. We show that averaging
over time of the atmospheric effects depends on this 2-sample phase variance
(Allan variance) rather than on the true variance. The proper expression for
fringe smearing beyond the isoplanatic angle is derived. With simulations of
atmospheric effects, based on a Paranal turbulence model, we show how the
performances of a dual-field optical interferometer can be evaluated in a
diagram 'separation angle' versus 'magnitude of faint object'. In this diagram,
a domain with short exposure is found to be most useful for interferometry,
with about the same magnitude limits in the H and K bands. With star counts
from a Galaxy model, we evaluate the sky coverage for differential astrometry
and detection of exoplanets, i.e. likelihood of faint reference stars in the
vicinity of a bright target. With the 2mass survey, we evaluate sky coverage
for phase-referencing, i.e. avaibility of a bright enough star for main delay
tracking in the vicinity of any target direction.
