Operator Surface
Neutrality before volume.
Opportunity Ranking
This view is for triage. The operator should be able to see which pairs remain attractive after open cost, expected close cost, residual delta, and basis risk penalties.
| Pair | Entry | EV | Carry | Costs | Basis Risk | Rank |
|---|---|---|---|---|---|---|
TRUMP-PERP long grvt / short extended grvt long / extended short | +3.56 bps | +1110.89 bps | +1122.82 bps | fees +2.49 bps / +2.49 bps hedge +3.56 bps | 0.81 liq 10.0 / 10 weak leg $100.00k | 1118.21 |
BERA-PERP long grvt / short extended grvt long / extended short | +9.60 bps | +337.76 bps | +353.17 bps | fees +2.49 bps / +2.49 bps hedge +4.80 bps | 5.22 liq 10.0 / 10 weak leg $61.68k | 344.64 |
KAITO-PERP long grvt / short extended grvt long / extended short | +12.61 bps | +330.57 bps | +339.42 bps | fees +2.49 bps / +2.49 bps hedge +2.52 bps | 3.50 liq 10.0 / 10 weak leg $82.03k | 337.62 |
SEI-PERP long grvt / short extended grvt long / extended short | +7.21 bps | +292.18 bps | +301.77 bps | fees +2.49 bps / +2.49 bps hedge +1.80 bps | 3.74 liq 10.0 / 10 weak leg $100.00k | 299.20 |
XLM-PERP long grvt / short extended grvt long / extended short | +3.92 bps | +262.45 bps | +278.67 bps | fees +2.49 bps / +2.49 bps hedge +5.22 bps | 2.60 liq 10.0 / 10 weak leg $100.00k | 269.59 |
IP-PERP long grvt / short extended grvt long / extended short | +2.00 bps | +220.97 bps | +244.43 bps | fees +2.49 bps / +2.49 bps hedge +6.00 bps | 9.43 liq 10.0 / 10 weak leg $44.22k | 227.43 |
WLFI-PERP long grvt / short extended grvt long / extended short | +17.87 bps | +197.83 bps | +219.68 bps | fees +2.49 bps / +2.49 bps hedge +7.65 bps | 10.62 liq 10.0 / 10 weak leg $100.00k | 204.16 |
ZEC-PERP long grvt / short extended grvt long / extended short | -0.29 bps | +195.77 bps | +215.64 bps | fees +2.49 bps / +2.49 bps hedge +3.92 bps | 8.70 liq 10.0 / 10 weak leg $100.00k | 202.30 |
EIGEN-PERP long grvt / short extended grvt long / extended short | +18.38 bps | +193.07 bps | +216.13 bps | fees +2.49 bps / +2.49 bps hedge +6.12 bps | 13.81 liq 10.0 / 10 weak leg $25.86k | 199.14 |
STRK-PERP long grvt / short extended grvt long / extended short | +11.63 bps | +134.81 bps | +146.67 bps | fees +2.49 bps / +2.49 bps hedge +2.91 bps | 3.48 liq 10.0 / 10 weak leg $97.98k | 141.91 |
UNI-PERP long grvt / short extended grvt long / extended short | +1.91 bps | +124.78 bps | +140.03 bps | fees +2.49 bps / +2.49 bps hedge +4.46 bps | 2.24 liq 10.0 / 10 weak leg $100.00k | 131.96 |
LINK-PERP long grvt / short extended grvt long / extended short | +1.11 bps | +124.18 bps | +138.93 bps | fees +2.49 bps / +2.49 bps hedge +4.44 bps | 1.25 liq 10.0 / 10 weak leg $100.00k | 131.45 |
Execution Bridge
These are the candidates that already survived the first execution-aware gates. They are not live orders. They are the first explicit handoff from predicted rankings into the executed data plane.
Stage in paper: EV 292.18 bps, basis 3.74 bps, liquidity 10.00.
Stage in paper: EV 292.18 bps, basis 3.74 bps, liquidity 10.00.
Stage in paper: EV 330.57 bps, basis 3.50 bps, liquidity 10.00.
Stage in paper: EV 330.57 bps, basis 3.50 bps, liquidity 10.00.
Stage in paper: EV 1110.89 bps, basis 0.81 bps, liquidity 10.00. [challenger] Skipped paper entry at 2026-04-11T07:01:41.623337+00:00: maker fill realism below threshold. {'requested_quantity': '891.2600000000', 'estimated_filled_quantity': '0', 'fill_ratio': '0', 'status': 'unfilled', 'touched_snapshots': 0, 'time_to_first_fill_ms': None, 'time_to_complete_fill_ms': None}
Stage in paper: EV 1110.89 bps, basis 0.81 bps, liquidity 10.00. [champion] Skipped paper entry at 2026-04-11T07:01:40.856462+00:00: maker fill realism below threshold. {'requested_quantity': '891.2600000000', 'estimated_filled_quantity': '0', 'fill_ratio': '0', 'status': 'unfilled', 'touched_snapshots': 0, 'time_to_first_fill_ms': None, 'time_to_complete_fill_ms': None}
A positive raw spread is not enough. Ranking only matters if the path from observation to execution remains neutral after size, latency, and close assumptions.
These rows are simulation-only. No live order path is wired in this phase, by design.
Promotion from staged intent into paper-open lifecycle, plus forecast-vs-realized attribution, are the next pieces that make ranking defensible over time.