Market Maker Performance Index
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Market maker performance, transparent. Rank and compare partners by depth, volume, spreads, KPI adherence, and uptime; and select the best quote with confidence.
Top Avg. 2% Depth
Auros Global
$935,978
Top ADV: Maker & Taker
Flowdesk
$1,262,314
Top Bid-Ask Spread
Top Uptime
Ampersan
10.00%
Forgd Market Maker Performance Index
# | Market Maker | Grade | Composite Score | Trading KPIs | Trust & Integration | Coverage & Capabilities | Uptime | Integration Level | |
|---|---|---|---|---|---|---|---|---|---|
1 | Amber Group | AAA | 9.50 | 9.60 | 9.80 | 9.70 | 7.40 | FULL | |
2 | GSR | AA | 9.30 | 9.50 | 9.00 | 9.50 | 7.60 | FULL | |
3 | Tophash Digital | AA | 9.30 | 10.00 | 8.00 | 9.25 | 8.30 | FULL | |
4 | Ampersan | AA | 9.20 | 9.60 | 8.00 | 8.50 | 10.00 | FULL | |
5 | Auros Global | AA | 9.10 | 8.90 | 9.00 | 9.50 | 8.30 | FULL | |
6 | Da Vinci Trading | AA | 9.00 | 9.20 | 8.40 | 8.50 | 8.70 | FULL | |
7 | G-20 Group | A | 8.90 | 9.10 | 8.25 | 9.00 | 7.80 | FULL | |
8 | Flowdesk | A | 8.80 | 8.50 | 8.50 | 8.75 | 8.50 | FULL | |
9 | Keyrock | A | 8.80 | 8.90 | 8.75 | 8.50 | 7.20 | FULL | |
10 | Selini Capital | A | 8.70 | 8.00 | 8.40 | 9.00 | 9.30 | FULL | |
11 | JPEG Trading | A | 8.30 | 8.70 | 6.00 | 8.00 | 8.80 | FULL | |
12 | Cicada | BBB | 8.10 | 7.20 | 8.00 | 8.00 | 9.60 | FULL | |
13 | CyantArb | BBB | 8.00 | 7.40 | 7.25 | 8.50 | 8.00 | FULL | |
14 | Gravity Team | BBB | 8.00 | 7.60 | 7.50 | 7.25 | 8.90 | FULL | |
15 | IMC Trading | BBB | 7.70 | 7.00 | 7.75 | 8.00 | 6.70 | FULL | |
16 | Presto Labs | BBB | 7.50 | 6.30 | 7.75 | 8.50 | 6.50 | FULL | |
17 | Arrakis Finance | BBB | 7.40 | 6.10 | 8.00 | 8.00 | 6.10 | FULL | |
18 | LO:TECH | BBB | 7.40 | 6.70 | 7.00 | 7.50 | 7.00 | FULL | |
19 | Prycto | BB | 7.10 | 6.50 | 6.00 | 7.50 | 6.30 | FULL | |
20 | Efficient Frontier | BB | 6.70 | 5.70 | 7.75 | 7.00 | 5.70 | FULL | |
21 | CKS Systems | BB | 6.60 | 5.90 | 6.00 | 6.50 | 5.90 | FULL | |
22 | Elk Crypto | BB | 6.50 | 5.40 | 6.00 | 7.00 | 5.40 | FULL | |
23 | Kairon Labs | BB | 6.40 | 5.20 | 6.00 | 7.50 | 5.20 | FULL | |
24 | XBTO | BB | 6.30 | 5.00 | 6.00 | 7.50 | 5.00 | FULL | |
25 | Manifold Trading | CCC | <5.00 | -- | 7.50 | 8.00 | -- | PARTIAL | |
26 | Portofino Technologies | CCC | <5.00 | -- | 6.00 | 8.00 | -- | PARTIAL | |
27 | Caladan | CCC | <5.00 | -- | 7.50 | 8.50 | -- | NONE | |
28 | Reform DAO | CCC | <5.00 | -- | 6.00 | 7.50 | -- | PARTIAL | |
29 | FalconX | CCC | <5.00 | -- | 5.00 | 9.00 | -- | PARTIAL | |
30 | Peanut.Trade | CCC | <5.00 | -- | 5.00 | 8.00 | -- | NONE | |
31 | AlphaTheta | CCC | <5.00 | -- | 7.50 | 7.00 | -- | NONE | |
32 | DWF Labs | CCC | <5.00 | -- | 7.50 | 7.00 | -- | NONE | |
33 | Galaxy | CCC | <5.00 | -- | 5.00 | 8.50 | -- | PARTIAL | |
34 | JST Digital | CCC | <5.00 | -- | 5.00 | 7.00 | -- | PARTIAL | |
35 | STS Digital | CCC | <5.00 | -- | 5.00 | 7.50 | -- | PARTIAL | |
36 | Pulsar | CCC | <5.00 | -- | 5.00 | 7.50 | -- | PARTIAL | |
37 | Alber Blanc | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
38 | Algoz | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
39 | Bitmaker | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
40 | Bluesky Capital | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
41 | CoinAlpha | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
42 | Dark Forest | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
43 | Kaiko Labs | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
44 | Koda Finance | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
45 | Kronos Research | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
46 | Oracles | CCC | <5.00 | -- | 7.50 | 5.00 | -- | NONE | |
47 | Skynet Trading | CCC | <5.00 | -- | 5.00 | 5.00 | -- | PARTIAL |
Rows per page
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Definitions
Metric | Definition |
|---|---|
Grade | A simplified letter rating that reflects a market maker's overall standing on the leaderboard. Grades are designed to make performance easier to interpret without relying solely on individual numerical scores. |
Composite Score | The weighted overall score used to rank market makers across the leaderboard. It reflects performance across trading KPIs, trust, coverage and capabilities, uptime, and integration level. |
Trading KPIs | Measures historical execution quality across 500+ tracked engagements. This includes liquidity depth, trading volume, spread performance, and adherence to agreed-upon trading obligations. |
Trust & Integration | Reflects Forgd's confidence in a market maker's observed performance. This is based on the number of tracked engagements and whether Forgd has identified potential trading abnormalities. |
Coverage & Capabilities | Evaluates the breadth of a market maker's exchange coverage, ecosystem reach, and broader service offering. This includes centralized and decentralized exchange connectivity, as well as services beyond standard liquidity provision. |
Uptime | Measures a market maker's consistency in meeting contractual obligations across tracked engagements. This typically includes maintaining required depth, spreads, and availability across supported venues. |
Integration Level | Reflects the degree of connectivity between the market maker and Forgd's data systems. Higher integration levels provide greater visibility into tracked engagements, RFQ participation, and ongoing performance. |
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