Updated 2026-10-19 13:30 KST · every pair read every 5 minutes, GRVT and Binance in the same minute · numbers are the cost of a $10k market order walked against the live book (buy and sell averaged), in bps, fees excluded; a snapshot that cannot fill inside ±10% of mid counts as 1,000 bps. "Now" = median of the last 55 readings (24h). Target = the GRVT cost that counts as OK: 1.3× Binance + one tick (min 1 bp) — fitted on the pairs the market maker has already fixed, which landed at 1.0–1.5× Binance plus up to a tick. Over = GRVT − Target. Then → now graphic per pair: ○ then, ● now, ▌ target (now should sit left of it), · Binance now. 24h chart: GRVT ■ / Binance ■ per run. Live view: dashboard.
How the target is set(click to hide)
Target = 1.3 × Binance cost + max(1 bp, one GRVT tick). GRVT is OK when its $10k cost is at or below this.
Why 1.3×? The pairs the market maker has already fixed landed at 1.0–1.5× Binance (median 1.30×). The target is the level already achieved, not a guess.
Why + one tick? On low-priced coins (ADA, TRUMP…) one price step is 4–5 bps, so quoting one tick wider than Binance shows up as a few bps the market maker cannot remove. That tick is allowed (agreed with Ampersand). On fine-tick coins the floor is 1 bp.
Why not 2× any more? 2× loosens the target as Binance gets more expensive (Binance 20 → GRVT 40 still OK), which is too generous.
Binance
Target, fine-tick coin
Target, 4.5 bp-tick coin (e.g. ADA)
Old rule 2×
1 bps
2.3
5.8
2
3 bps
4.9
8.4
6
5 bps
7.5
11.0
10
10 bps
14.0
17.5
20
20 bps
27.0
30.5
40
Pairs the market maker fixed: when sent ○ → now ●
16 pairs. Most started above the old 2× line and are now at or below the target line; shaded area = OK.
All crypto pairs now (24h median)
● within target · ○ within target only because of a large tick (its own target sits above the line) · ● over target. Hover a dot for the numbers; ↑ = off the chart.
1 · Requested from the market maker — 16 fixed · 2 improved · 5 were already OK · 2 not fixed
Fixed = now at or below target with every snapshot filled. Improved = Over at least halved since sent, not yet at target. Was already OK = at target when sent and still is. Not fixed first.
Pair
Sent
When sent → now, vs target ($10k cost, bps)
Over
Above target 24h · max
Chart 24h
Verdict
H
10/13
no fill
89% · max 34
Not fixed
CLRWA
9/30
+1
100% · max 3
Not fixed
MEGA
10/13
+1
64% · max 32
Improved
HOODRWA
9/24
+0
49% · max 7
Improved
INTCRWA
9/24
-0
29% · max 4
Fixed
COPPERRWA
9/30
-0
65% · max 4
Fixed
CRCLRWA
9/30
-0
16% · max 3
Fixed
MSTRRWA
9/30
-0
24% · max 3
Fixed
ASTER
9/30
-0
24% · max 5
Fixed
COINRWA
9/30
-1
11% · max 5
Fixed
EWJRWA
9/24
-1
35% · max 61
Fixed
OP
9/24
-1
13% · max 8
Fixed
ARB
9/24
-2
2% · max 5
Fixed
ENA
9/24
-2
0% · max 3
Fixed
STRK
9/24
-2
0% · max 7
Fixed
LDO
9/30
-2
5% · max 18
Fixed
KBONK
9/24
-3
0% · max 10
Fixed
JUP
9/30
-3
0% · max 9
Fixed
BERA
9/30
-5
5% · max 21
Fixed
BARD
10/13
-7
7% · max 38
Fixed
TRUMP
10/13
-2
2% · max 10
Was already OK
ADA
10/13
-2
4% · max 9
Was already OK
XPTRWA
9/24
-2
0% · max 5
Was already OK
FARTCOIN
9/30
-3
0% · max 15
Was already OK
XPDRWA
9/24
-4
0% · max 8
Was already OK
2 · Not yet requested — in order of urgency (101 pairs over target)
Score = min(Over, 50) × log10(1 + GRVT 24h volume / $100k): how far over target, weighted by how much actually trades. Highlighted rows are over target; then pairs within target; then pairs with no Binance twin. "Sep 22" = the first all-pairs reading when this effort started.
#
Pair
GRVT 24h vol
Sep 22 → now, vs target ($10k cost, bps)
Over
Above target 24h · max
Score
Chart 24h
Note
1
PAYPRWA
$512k
+49
98% · max 94
38.7
2
BASED
$245k
+115
84% · max 336
26.9
low volume
3
VRWA
$175k
no fill
96% · max 15
22.0
low volume
4
LLYRWA
$140k
no fill
78% · max 11
19.0
low volume
5
CRMRWA
$134k
no fill
95% · max 24
18.4
low volume
6
KODEX200RWA
$131k
no fill
98% · max 113
18.2
low volume
7
LGELECTRONICSRWA
$131k
no fill
91% · max 64
18.2
low volume
8
HANMIRWA
$131k
no fill
100% · max no fill
18.1
low volume
9
NAVERRWA
$127k
no fill
87% · max 38
17.8
low volume
10
SAMSUNGEMRWA
$127k
no fill
100% · max no fill
17.8
low volume
11
GSRWA
$125k
no fill
89% · max 17
17.6
low volume
12
ASMLRWA
$124k
no fill
62% · max 10
17.5
low volume
13
ANTHROPICRWA
$103k
no fill
84% · max 6
15.4
low volume
14
FLNCRWA
$96k
+166
100% · max 242
14.7
low volume
15
HDRWA
$94k
no fill
100% · max 23
14.4
low volume
16
BBXRWA
$125k
+40
100% · max 82
14.0
low volume
17
QNTXRWA
$133k
+37
100% · max 86
13.5
low volume
18
NVORWA
$137k
+34
100% · max 76
12.6
low volume
19
ONDSRWA
$128k
+34
100% · max 70
12.2
low volume
20
KSTRRWA
$146k
+25
96% · max 65
9.9
low volume
21
USARRWA
$224k
+16
96% · max 63
8.2
low volume
22
EWZRWA
$120k
+23
98% · max 65
8.0
low volume
23
UBERRWA
$203k
+17
100% · max 43
8.0
low volume
24
URNMRWA
$134k
+21
96% · max 80
7.8
low volume
25
NOWRWA
$129k
+20
98% · max 37
7.1
low volume
26
UVXYRWA
$128k
+20
96% · max 84
7.1
low volume
27
SMCIRWA
$119k
+18
100% · max 68
6.2
low volume
28
ASTSRWA
$127k
+17
98% · max 63
5.9
low volume
29
XLERWA
$128k
+15
100% · max 53
5.3
low volume
30
AXTIRWA
$138k
+11
100% · max 35
4.1
low volume
31
CSCORWA
$148k
+10
100% · max 41
4.1
low volume
32
BXRWA
$132k
+11
96% · max 39
3.9
low volume
33
EWTRWA
$126k
+11
93% · max 47
3.9
low volume
34
MINIMAXRWA
$130k
+9
93% · max 44
3.4
low volume
35
GLWRWA
$143k
+9
100% · max 32
3.3
low volume
36
CRDORWA
$127k
+9
91% · max 31
3.1
low volume
37
MOODENG
$363k
+4
96% · max 28
2.9
38
CBRSRWA
$159k
+7
100% · max 21
2.8
low volume
39
RKLBRWA
$148k
+7
96% · max 30
2.8
low volume
40
DISRWA
$89k
+10
98% · max 38
2.7
low volume
41
MORPHO
$105k
+8
100% · max 23
2.3
low volume
42
POPCAT
$357k
+3
76% · max 30
2.3
43
COHRRWA
$127k
+6
95% · max 24
2.3
low volume
44
WMTRWA
$151k
+6
98% · max 23
2.3
low volume
45
CRWDRWA
$134k
+6
95% · max 26
2.2
low volume
46
W
$344k
+3
93% · max 25
2.1
47
HYUNDAIRWA
$152k
+5
87% · max 30
2.1
low volume
48
AMATRWA
$134k
+6
91% · max 17
2.1
low volume
49
NFLXRWA
$113k
+6
98% · max 22
2.0
low volume
50
IRENRWA
$136k
+5
96% · max 40
1.9
low volume
51
SOXLRWA
$231k
+3
100% · max 15
1.8
low volume
52
PENDLE
$313k
+3
80% · max 21
1.8
53
AAOIRWA
$126k
+5
93% · max 26
1.7
low volume
54
MRNARWA
$124k
+5
89% · max 25
1.6
low volume
55
SAHARA
$340k
+2
87% · max 22
1.5
56
CC
$423k
+2
76% · max 25
1.4
57
BABARWA
$216k
+3
96% · max 15
1.4
low volume
58
CRWVRWA
$167k
+3
93% · max 22
1.3
low volume
59
MRVLRWA
$196k
+3
96% · max 11
1.3
low volume
60
ARMRWA
$127k
+4
93% · max 21
1.2
low volume
61
NOKRWA
$120k
+4
73% · max 51
1.2
low volume
62
WDCRWA
$128k
+3
89% · max 18
1.2
low volume
63
ORCLRWA
$152k
+3
96% · max 12
1.2
low volume
64
IWMRWA
$117k
+3
100% · max 21
1.2
low volume
65
QCOMRWA
$140k
+3
87% · max 16
1.0
low volume
66
IBMRWA
$126k
+3
84% · max 18
1.0
low volume
67
LTC
$1.8M
+1
65% · max 7
0.9
68
TAO
$671k
+1
89% · max 5
0.9
69
AVGORWA
$257k
+2
96% · max 9
0.8
low volume
70
AMZNRWA
$535k
+1
85% · max 5
0.7
71
PENGU
$1.5M
+1
78% · max 9
0.7
72
BMNRRWA
$126k
+2
80% · max 28
0.7
low volume
73
XLM
$465k
+1
78% · max 7
0.6
74
NBISRWA
$114k
+2
91% · max 15
0.6
low volume
75
STXXRWA
$124k
+2
65% · max 24
0.6
low volume
76
MSFTRWA
$372k
+1
87% · max 6
0.5
77
BZRWA
$294k
+1
100% · max 5
0.5
low volume
78
LINK
$2.5M
+0
71% · max 6
0.5
79
BERWA
$125k
+1
80% · max 16
0.5
low volume
80
XMR
$658k
+1
73% · max 10
0.5
81
SQQQRWA
$132k
+1
91% · max 12
0.5
low volume
82
NVDARWA
$444k
+1
95% · max 5
0.4
83
AAPLRWA
$366k
+1
93% · max 3
0.4
84
GOOGLRWA
$453k
+1
91% · max 4
0.4
85
ZEC
$412k
+1
75% · max 4
0.4
86
TQQQRWA
$138k
+1
71% · max 9
0.3
low volume
87
METARWA
$496k
+0
76% · max 4
0.3
88
SKHYRWA
$113k
+1
82% · max 7
0.3
low volume
89
LITERWA
$216k
+1
69% · max 7
0.3
low volume
90
DELLRWA
$113k
+1
75% · max 10
0.2
low volume
91
SKHYNIXRWA
$208k
+0
93% · max 4
0.2
low volume
92
XAGRWA
$1.9M
+0
58% · max 6
0.2
93
KPEPE
$2.5M
+0
60% · max 6
0.1
94
TSMRWA
$342k
+0
64% · max 9
0.1
95
SNDKRWA
$199k
+0
65% · max 9
0.1
low volume
96
AMDRWA
$81k
+0
67% · max 6
0.1
low volume
97
JPMRWA
$89k
+0
53% · max 20
0.1
low volume
98
TSLARWA
$3.1M
+0
53% · max 4
0.1
99
NATGASRWA
$220k
+0
51% · max 12
0.0
low volume
100
SPYRWA
$388k
+0
93% · max 2
0.0
101
BCH
$0k
+1
84% · max 6
0.0
low volume
102
HBAR
$365k
-0
53% · max 5
–
✓ within target
103
PLTRRWA
$404k
-0
44% · max 7
–
✓ within target
104
SAMSUNGRWA
$134k
-0
47% · max 5
–
✓ within target
105
UNI
$1.8M
-0
45% · max 5
–
✓ within target
106
MURWA
$326k
-0
40% · max 3
–
✓ within target
107
WLD
$712k
-0
47% · max 6
–
✓ within target
108
EWYRWA
$479k
-0
24% · max 3
–
✓ within target
109
PAXG
$2.2M
-0
25% · max 3
–
✓ within target
110
XAUT
$138k
-0
38% · max 3
–
✓ within target
111
DRAMRWA
$170k
-0
44% · max 13
–
✓ within target
112
DOT
$366k
-0
24% · max 6
–
✓ within target
113
DOGE
$3.5M
-0
31% · max 4
–
✓ within target
114
NEAR
$340k
-0
38% · max 8
–
✓ within target
115
AVAX
$694k
-0
15% · max 4
–
✓ within target
116
FIL
$320k
-0
13% · max 4
–
✓ within target
117
ONDO
$299k
-0
15% · max 6
–
✓ within target
118
SUI
$6.8M
-1
13% · max 4
–
✓ within target
119
KSHIB
$844k
-1
9% · max 5
–
✓ within target
120
STRCRWA
$118k
-1
31% · max 7
–
✓ within target
121
QQQRWA
$208k
-1
9% · max 2
–
✓ within target
122
KAIA
$338k
-1
45% · max 25
–
✓ within target
123
AAVE
$3.7M
-1
7% · max 4
–
✓ within target
124
WLFI
$1.0M
-1
13% · max 6
–
✓ within target
125
XRP
$38.9M
-1
0% · max 1
–
✓ within target
126
LINEA
$407k
-1
47% · max 30
–
✓ within target
127
ETH
$69.1M
-1
0% · max 0
–
✓ within target
128
BTC
$147.5M
-1
0% · max 0
–
✓ within target
129
XAURWA
$3.4M
-1
2% · max 1
–
✓ within target
130
BNB
$26.7M
-1
5% · max 1
–
✓ within target
131
OPENAIRWA
$107k
-1
91% · max 5
–
✓ within target
132
HYPE
$40.0M
-1
4% · max 2
–
✓ within target
133
SOL
$31.9M
-1
0% · max 1
–
✓ within target
134
POL
$2.6M
-1
11% · max 10
–
✓ within target
135
XPL
$97k
-1
13% · max 11
–
✓ within target
136
LA
$365k
-1
33% · max 17
–
✓ within target
137
SEI
$337k
-1
7% · max 9
–
✓ within target
138
PROVE
$406k
-1
22% · max 27
–
✓ within target
139
ZEN
$351k
-1
16% · max 15
–
✓ within target
140
ICP
$354k
-2
0% · max 9
–
✓ within target
141
LIT
$1.9M
-2
18% · max 14
–
✓ within target
142
CRV
$422k
-2
7% · max 11
–
✓ within target
143
VIRTUAL
$720k
-2
0% · max 7
–
✓ within target
144
GIGGLE
$375k
-2
5% · max 19
–
✓ within target
145
MON
$423k
-2
16% · max 24
–
✓ within target
146
AXS
$618k
-2
0% · max 9
–
✓ within target
147
KAITO
$1.9M
-2
15% · max 21
–
✓ within target
148
WIF
$344k
-2
0% · max 12
–
✓ within target
149
EIGEN
$336k
-2
0% · max 14
–
✓ within target
150
ZK
$1.8M
-3
9% · max 16
–
✓ within target
151
CFX
$1.1M
-3
0% · max 11
–
✓ within target
152
ATOM
$1.9M
-3
0% · max 12
–
✓ within target
153
RIVER
$409k
-3
9% · max 30
–
✓ within target
154
PUMP
$9.5M
-4
0% · max 3
–
✓ within target
155
GRVT
$116k
-5
9% · max 34
–
✓ within target
156
KORURWA
$135k
-5
9% · max 28
–
✓ within target
157
AVNT
$833k
-10
0% · max 23
–
✓ within target
158
BRKBRWA
$170k
-301
67% · max 14
–
✓ within target
159
SPACEXRWA
$131k
–
–
–
no Binance pair
Runs on record: 56 (latest 2026-10-19T04:30:38Z). Sent list = mm_sent.json; "when sent" values come from the all-pairs reading taken the day each batch was sent. Source: coding/GRVT/liquidity_board.