Data & methodology
Definitions
How spreads, risk tiers and signals are calculated.
Spread#
formula
spread = TradFi borrow fee − INVARA vault fee (0%)The yearly advantage for a position of size S is S × spread.
Risk index#
| Tier | Rule |
|---|---|
| CRITICAL | Fee ≥ 50% or fewer than 10,000 shares available |
| HIGH | Fee ≥ 20% or fewer than 100,000 shares |
| MED | Fee ≥ 5% or fewer than 1,000,000 shares |
| LOW | Otherwise |