\n| \n Best CEX market makers<\/a><\/p>\n<\/td>\n | \n Trading mainly on exchange order books<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Frequently asked questions<\/b><\/h2>\n1. Who are the best market makers for Arc tokens?<\/b><\/h2>\nIn TDMM’s ranking, the best market makers for Arc chain tokens in 2026 are TDMM, Wintermute, Keyrock, GSR, Flowdesk, Arrakis, B2C2, Kairon Labs, Auros and DWF Labs. TDMM ranks first for Arc tokens that start in an on-chain pool and later list on exchanges, because one provider covers both with one reference price. We found no public announcement of an Arc-specific market making mandate from any firm, so the ranking measures fit, not Arc experience.<\/p>\n 2. What is the best market maker for an Arc token launch?<\/b><\/h2>\nFor an Arc token under about $100 million that will trade in Uniswap-style pools and on centralised exchanges, TDMM is the best fit in this ranking. For a very large float on a tier-one venue, Wintermute and GSR bring the largest balance sheets, and Keyrock, Flowdesk and B2C2 suit issuers that need MiCA authorisation. Whoever you choose, write spread, depth and uptime per venue into the contract.<\/p>\n 3. Does Arc have an official market maker, and can I trade ARC?<\/b><\/h2>\nCircle has not named an official market maker for Arc. It names Cumberland, Dialectic, Galaxy, Gauntlet, Keyrock and Steakhouse Financial, with Bitwise, as supporting the ecosystem through vault strategies, risk oversight and USDC and EURC supply. ARC itself has no public market as of 9 October 2026. Circle minted 10 billion ARC and says the mint is not a commitment to launch it publicly, and none of the 203 pools TDMM measured trades a token named ARC. Treat any Arc pool that offers a token called ARC as unverified until Circle publishes an address.<\/p>\n 4. How liquid are Arc tokens today?<\/b><\/h2>\nMostly not liquid near the price. TDMM read 203 Arc pools on 9 October 2026 and found that 170 held less than $1 within 1% of the price, 11 were one-sided and only 22 had depth on both sides. Only 5 could take a $10,000 order both ways with under 1% price impact. Arc’s pools report $69.4 million of liquidity, but $1.62 million of it sits within 1% of the price.<\/p>\n 5. How do I check an Arc token’s real liquidity?<\/b><\/h2>\nDo not rely on reported liquidity or 24-hour volume. Read the pool’s active liquidity and ticks through an Arc RPC endpoint, calculate the dollars needed to move the price 1% in each direction, and simulate a $1,000 and a $10,000 order each way. Then check the token’s contract address against the list at docs.arc.io. Uniswap v4 pools may use hooks that change swap behaviour, so ask the issuer whether the pool has one.<\/p>\n 6. What spread and depth should a market maker guarantee for an Arc token that lists on an exchange?<\/b><\/h2>\nTDMM recommends the top quartile of your market cap tier, from its snapshot of 2,680 books on 9 October 2026. For a token worth $5 million to $25 million that is a spread of 14.0 basis points or tighter and $18,183 or more of two-sided depth within 2%. From $25 million to $100 million it is 9.6 basis points and $41,448, and from $100 million to $1 billion it is 4.8 basis points and $119,147. Add uptime of at least 95% per venue.<\/p>\n 7. How much does market making for an Arc token cost?<\/b><\/h2>\nNo neutral benchmark exists. Published retainer quotes run from $1,000 to $7,000 per trading pair per exchange per month plus a performance carry, and vendor guides put premium firms at $10,000 to $15,000 or more a month, plus the inventory the issuer supplies. Token loans with call options typically cover 1% to 5% of circulating supply, and at the 166% volatility TDMM measured for new listings the options in a standard loan can be worth about half the loan’s value. Binance’s March 2026 guidance tells projects to avoid profit-sharing and guaranteed-profit models.<\/p>\n 8. Does Arc’s USDC gas change how market making works?<\/b><\/h2>\nYes, in three ways. Inventory, quote asset and fees are one USDC balance with two decimal formats, so sizing code must handle both. Fees are low, with a design target of about $0.001 per ERC-20 transfer on testnet, so frequent range re-centring is affordable. And because USDC can be blocklisted, inventory wallets should be segregated and screened. Each point needs a clause in the mandate.<\/p>\n 9. Do I need a market maker if my Arc token only trades on Uniswap?<\/b><\/h2>\nYou need someone to manage the liquidity, even if you do not need an order-book quoter. On Arc, Uniswap v3 and v4 carry 93% of DEX volume, and an unmanaged range goes stale: 170 of the 203 pools TDMM measured have no depth near the price. A vault service, a full-service market maker or an active in-house range strategy can each do the job. What does not work is seeding a pool once and leaving it.<\/p>\n 10. What is the difference between a market maker and a liquidity provider on Arc?<\/b><\/h2>\nA liquidity provider is anyone who deposits tokens into a pool. A market maker is a liquidity provider with an obligation: it quotes both sides to an agreed spread, depth and uptime, manages inventory and risk across venues, keeps one reference price and reports what it delivered. Every market maker provides liquidity. Most liquidity providers are not market makers, and most Arc pools have the first without the second.<\/p>\n Glossary<\/b><\/h2>\nArc.<\/b> Circle’s EVM-compatible layer-one blockchain, which uses USDC as its gas token and launched on mainnet on 16 September 2026.<\/p>\n ARC.<\/b> The token Circle minted at Arc’s genesis, 10 billion in total. It has no public market as of 9 October 2026. A different token with the same ticker trades on Solana and is unrelated.<\/p>\n Basis point (bps).<\/b> One hundredth of one percent. A spread of 14.0 bps means the best offer sits 0.14% above the best bid.<\/p>\n CCTP and Gateway.<\/b> Circle’s systems for moving native USDC between chains without wrapped copies.<\/p>\n Concentrated liquidity.<\/b> A pool design, used by Uniswap v3 and v4, in which liquidity is placed within a chosen price range. It is far more capital-efficient than a full-range pool, but only while the range is actively managed.<\/p>\n Depth within 1%.<\/b> The dollar amount needed to move a market’s price by 1%, or the value of resting orders within 1% of the mid price.<\/p>\n Deterministic finality.<\/b> A property of a consensus system in which a confirmed block cannot be reorganised. Arc’s Malachite engine provides it.<\/p>\n Hook.<\/b> A contract attached to a Uniswap v4 pool that can change how swaps and liquidity behave. TDMM’s Arc measurement does not model hooks.<\/p>\n Lookalike token.<\/b> A token that copies the name or ticker of another asset but sits at a different contract address.<\/p>\n Market maker.<\/b> A firm that continuously quotes bids and offers for a token on one or more venues to an agreed standard, and reports what it delivered.<\/p>\n One-sided pool.<\/b> A pool that holds liquidity on only one side of the price, so it can be bought from but not sold into, or the reverse.<\/p>\n Price impact.<\/b> The difference between the average execution price of an order and the mid price before the order, usually expressed in basis points.<\/p>\n Proof of authority.<\/b> A consensus model in which a set of approved validators produce blocks. Arc uses it today and Circle is exploring a move to proof of stake in 2027.<\/p>\n Spread.<\/b> The gap between the best bid and the best offer, usually expressed in basis points of the mid price.<\/p>\n Tick.<\/b> A discrete price step in a Uniswap v3 or v4 pool. Liquidity is recorded by tick, which is what lets depth be read from the chain.<\/p>\n Two-sided depth.<\/b> Depth on both sides of the price, so that a pool or book can absorb both buys and sells.<\/p>\n Uptime.<\/b> The share of trading time in which a market maker’s quotes are live and within the agreed spread and depth.<\/p>\nSources<\/b><\/h3>\n\n- Circle, “Circle Launches Arc Mainnet, an Economic Operating System for the Internet”, press release, 16 September 2026 (validators, exchanges, ecosystem participants, ARC genesis mint, proof-of-stake exploration).<\/li>\n
- Arc, “Arc Mainnet Is Here: The Economic OS for the Internet Is Now Live”, arc.io\/blog, September 2026 (exchanges and protocols live at launch).<\/li>\n
- The Block, “Circle launches Arc mainnet with BlackRock and Visa among validators, mints 10 billion ARC tokens”, 16 September 2026.<\/li>\n
- Cointelegraph, report on Circle’s $222 million ARC presale, May 2026 (disclosed 11 May 2026 with Circle’s Q1 results; 740 million ARC at $0.30; private placement).<\/li>\n
- Arc documentation: docs.arc.io; contract addresses (docs.arc.io\/arc\/references\/contract-addresses); gas and fees (docs.arc.io\/arc\/references\/gas-and-fees); retrieved 9 October 2026.<\/li>\n
- DefiLlama: Arc chain TVL, protocol TVL, DEX volume and stablecoin supply APIs, retrieved 9 October 2026.<\/li>\n
- GeckoTerminal public API: pools on Arc (reserve_in_usd and 24-hour volume), retrieved 9 October 2026. Reported figures are claims made by the data provider and were not independently verified.<\/li>\n
- TDMM on-chain measurement of 203 Arc pools (Uniswap v3, Uniswap v4 and Archery v3) through a public Arc RPC endpoint, 9 October 2026: price, active liquidity and initialised ticks within 380 ticks of the price; swap simulation before fees; v4 hooks not modelled.<\/li>\n
- TDMM level-2 order book snapshot of 2,680 USDT spot pairs on Gate and MEXC, 06:32 to 06:33 UTC, 9 October 2026. Market capitalisation from Gate’s public data.<\/li>\n
- TDMM, “Top Crypto Market Makers in 2026”, 26 September 2026, and its sources 12 to 23, for the firm facts used in the reviews above.<\/li>\n
- TDMM, “How Market Making Works After a Token Listing”, 25 September 2026, for listing volatility and option valuation.<\/li>\n
- Binance, “Market Maker Red Flags and Guidelines for Crypto Projects and Users”, Binance blog, 25 March 2026.<\/li>\n
- Fabric Ventures, “Liquidity is the product”, 31 July 2025; Caladan, “Retainer vs Options” (price list of nine market makers, January 2024); OpenLiquid, “CEX Market Making Cost: What to Expect in 2026”, 2025 (vendor-published); WuBlockchain, “Inside the black box of market maker”, July 2026, as republished by TechFlow.<\/li>\n
- Wintermute: company website and liquidity page; “Wintermute launches U.S. broker-dealer”, 6 August 2026; Forbes, 20 September 2022, on the hack.<\/li>\n
- GSR: “GSR acquires Autonomous and Architech”, 17 March 2026; CoinDesk, 5 May 2026; The Block, 9 June 2026; gsr.io\/about.<\/li>\n
- Keyrock: keyrock.com; AMF register, Keyrock FR SAS, 12 June 2026.<\/li>\n
- Flowdesk: flowdesk.co; AMF register, Flowdesk Europe SAS, 25 June 2026; VARA licence announcement, August 2026.<\/li>\n
- B2C2: MiCA authorisation announcement, May 2026; B2C2 market making and liquidity provision page.<\/li>\n
- Arrakis Finance documentation; Circle Alliance Directory listing for Arrakis (partners.circle.com\/partner\/arrakis, last updated 6 February 2026).<\/li>\n
- Kairon Labs, Auros and DWF Labs company websites and releases; CoinDesk, 20 December 2022, on Auros’ provisional liquidation; CoinDesk, 9 May 2024, on the Wall Street Journal’s report about DWF Labs.<\/li>\n
- SEC press release 2024-169 and reporting on the March 2025 dismissal (Cumberland); The Block, 28 March 2025 (Galaxy and the New York Attorney General).<\/li>\n
- Uniswap documentation on v3 concentrated liquidity and v4 hooks.<\/li>\n
- TDMM, About TDMM<\/i>, and tdmm.io, for company figures and published integrations.<\/li>\n<\/ol>\n
Disclaimer<\/b><\/h3>\nThis article is published by TDMM (TradeDog Market Maker) for information and education. TDMM is a market maker and ranks itself in this article; readers should weigh the ranking with that in mind. It is not investment, legal or tax advice. It is not an offer of any service, and not a recommendation to buy, sell or hold any digital asset, including ARC, or to engage any firm named. TDMM is not a registered investment adviser, broker-dealer or asset manager, and nothing here is a promise or projection about the price, volume or liquidity of any token.<\/em>
\nStatements about other firms are based on information those firms publish and on reports by regulators and major media outlets, as available to TDMM on 26 September 2026 and, for Circle, Arc and the ARC presale, on 9 October 2026. They may be incomplete or out of date. “None found” means TDMM’s review located no enforcement action or major incident; it is not an assurance of any firm’s conduct or financial standing. Allegations referred to here are allegations, and the people and firms named are presumed innocent until proven guilty.<\/em>
\nAll TDMM figures are measurements of public market data taken at the times stated. The pool and order book data are single snapshots that change continuously and describe only the venues and chains sampled. TDMM did not model Uniswap v4 hooks, and pool depth is reconstructed from on-chain liquidity, so actual execution may differ. A token that shares a name or ticker with a listed asset is not thereby fraudulent. Cost examples and the ARC sale illustration are arithmetic on stated assumptions, not quotes or forecasts. Third-party figures are reproduced as published and have not been audited by TDMM. Arc is a new network whose parameters, fees and validator set may change. Exchange rules and regulation change often, so check them against current primary sources and qualified professional advice before making any decision. Digital assets are volatile, and you may lose the entire value of a position.<\/em><\/p>\nPublished by TDMM (TradeDog Market Maker) \u00b7 Reading time: 34 minutes \u00b7 Last updated: October 2026. Written By: Vaibhav Singh<\/a><\/i>
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