The continuous measurement of ground deformations is an important contribution to the monitoring of volcanic areas. When the volcano is totally or partially submerged, the traditional geodetic methods cannot be applied and the measures of seafloor deformation are extremely difficult and expensive. This paper describes the installation of a continuous GPS station on an elastic beacon. The measurements were conducted in the Campi Flegrei Caldera (Gulf of Pozzuoli, Naples), whose vertical displacements are related to the bradyseismic phenomenon. Experimental observations show that it’s possible to monitor vertical displacement of seafloor with a resolution of a few centimeters, also taking into account for measurement errors (due to weather and sea conditions acting on the elastic beacon). This non expensive technique is relevant at Campi Flegrei area, because it extends the ground deformation monitoring at sea, contributing to a better modeling of the deformation field.