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keel
Ledger
64,752,484
Methodology
1.0.8-draft
Age
6s

AFR against USDC — what depth stands behind this price?

All assets

AFR / USDC

GBX6…N54W

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
26.59 USDC (shortened; full value 26.595925983707962975099265609200323847801502887551 USDC)Limited by liquidation depth
Depth within 5%
buy55.20 USDC (shortened; full value 55.2074491385777023036217465395 USDC)sell23.30 USDC (shortened; full value 23.306281070070181638902373548379866938380350706034 USDC)
Cost to move +50%
615.21 USDC (shortened; full value 615.21492050003293712022968 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

History

Window
Resolution
Source

Buy-side depth

What an order can absorb before the price moves against a buyer. The rungs are nested, so one scale covers all three.

Higher at the end of the window than at its start

Lowest
0 USDC
Highest
311.07 USDC (shortened; full value 311.0703626291242682538416824584 USDC)
2026-09-11T23:47:49Z — 2026-10-02T10:38:22ZOne scale across every line on this chart
2% from mid
20.99 USDC (shortened; full value 20.9937219496029649112153418804 USDC)
5% from mid
38.07 USDC (shortened; full value 38.0744095849688987978516858724 USDC)
10% from mid
66.00 USDC (shortened; full value 66.0087232702387123302207388595 USDC)
22 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOW7 of 22
Extreme spreadSPREAD_EXTREME11 of 22
Price sources disagreePRICE_SOURCE_CONFLICT6 of 22
Nothing tradable within 2%ZERO_DEPTH_2PCT6 of 22

Not evaluated3

  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

26.59 USDC (shortened; full value 26.595925983707962975099265609200323847801502887551 USDC)

Limited by liquidation depth

Liquidation termbinds
26.59 USDC (shortened; full value 26.595925983707962975099265609200323847801502887551 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation term
153.80 USDC (shortened; full value 153.80373012500823428005742 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.