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keel
Ledger
64,750,145
Methodology
1.0.8-draft
Age
4s

AMM against USDC — what depth stands behind this price?

All assets

AMM / USDC

GARQ…BDOQ

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
13.85 USDC (shortened; full value 13.853265125 USDC)Limited by manipulation cost
Depth within 5%
buy43.05 USDC (shortened; full value 43.0586629940742179807459641995 USDC)sell43.88 USDC (shortened; full value 43.884775474881443398958676450795249156609186827884 USDC)
Cost to move +50%
55.41 USDC (shortened; full value 55.4130605 USDC)Reachable through the order book
Checks
7 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.

Lower at the end of the window than at its start

Lowest
17.25 USDC (shortened; full value 17.2593850370039306272103351185 USDC)
Highest
86.81 USDC (shortened; full value 86.8187351480544183886390179166 USDC)
2026-09-26T14:50:41Z — 2026-10-03T13:53:27ZOne scale across every line on this chart
2% from mid
17.34 USDC (shortened; full value 17.3452823466886782607356646057 USDC)
5% from mid
43.04 USDC (shortened; full value 43.0474188699433980624852672525 USDC)
10% from mid
85.08 USDC (shortened; full value 85.0815312750933982322471633206 USDC)
168 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
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICTthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
No genuine trade in 30 daysNO_GENUINE_TRADE_30D82 of 168
No genuine trade in 7 daysNO_GENUINE_TRADE_7D82 of 168

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.

13.85 USDC (shortened; full value 13.853265125 USDC)

Limited by manipulation cost

Liquidation term
44.47 USDC (shortened; full value 44.470214171668669227326651074866793097767269123528 USDC)

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

Manipulation termbinds
13.85 USDC (shortened; full value 13.853265125 USDC)

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