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keel
Ledger
64,751,044
Methodology
1.0.8-draft
Age
9s

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%
buy43.06 USDC (shortened; full value 43.0673697151849031132558702994 USDC)sell43.89 USDC (shortened; full value 43.89364924091355199990508510308703287705264483449 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
17.32 USDC (shortened; full value 17.3204605553718563787374056159 USDC)
Highest
86.36 USDC (shortened; full value 86.3638598048929497646361877825 USDC)
2026-10-02T15:53:27Z — 2026-10-03T15:08:27ZOne scale across every line on this chart
2% from mid
17.35 USDC (shortened; full value 17.3533212269015547823424941882 USDC)
5% from mid
43.06 USDC (shortened; full value 43.0673697151849031132558702994 USDC)
10% from mid
85.12 USDC (shortened; full value 85.1209633364791937474234616294 USDC)
25 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

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.

An averaging oracle makes an attacker outweigh genuine trading as well as move the book. A market with no genuine volume has no such defence.

Cost of a 50% move, order book only
55.41 USDC (shortened; full value 55.4130605 USDC)

The target is reachable through the order book

Genuine volume in the oracle window
0 USDC

Over the last 900 seconds (15 minutes), after the genuine-trade filter

Cost against genuine volume
not computed

Below 1, moving the price is cheaper than all genuine trading across the window. Not computed when there was no genuine volume or the target is unreachable

Total attack cost
55.41 USDC (shortened; full value 55.4130605 USDC)

The move, plus the genuine volume an averaging oracle forces an attacker to outweigh