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keel
Ledger
64,750,147
Methodology
1.0.8-draft
Age
5s

ETH against USDC — what depth stands behind this price?

All assets

ETH / USDC

GBFX…SOCC

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
54.77 USDC (shortened; full value 54.772973761297034760161507959846064881838297314338 USDC)Limited by liquidation depth
Depth within 5%
buy0 USDCsell79.07 USDC (shortened; full value 79.07509820442156436593448321292613167441958370962 USDC)
Cost to move +50%
9,188.91 USDC (shortened; full value 9188.9195771 USDC)Reachable through the order book
Checks
6 triggered3 not evaluated

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.

Unchanged across the window

Lowest
0 USDC
Highest
4,970.11 USDC (shortened; full value 4970.1131303225899280242393184172 USDC)
2026-09-26T14:50:56Z — 2026-10-03T13:53:37ZOne scale across every line on this chart
2% from mid
0 USDC
5% from mid
0 USDC
10% from mid
8.17 USDC (shortened; full value 8.1715324166341820181368838795 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.
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Nothing tradable within 2%nowZERO_DEPTH_2PCT163 of 168
Cheap to move the pricenowMANIPULATION_CHEAP108 of 168
No genuine trade in 7 daysNO_GENUINE_TRADE_7D28 of 168
Price sources disagreePRICE_SOURCE_CONFLICT5 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.

54.77 USDC (shortened; full value 54.772973761297034760161507959846064881838297314338 USDC)

Limited by liquidation depth

Liquidation termbinds
54.77 USDC (shortened; full value 54.772973761297034760161507959846064881838297314338 USDC)

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

Manipulation term
2,297.22 USDC (shortened; full value 2297.229894275 USDC)

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