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keel
Ledger
64,751,767
Methodology
1.0.8-draft
Age
6s

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
53.14 USDC (shortened; full value 53.143296551458975057524090980463185657669774536692 USDC)Limited by liquidation depth
Depth within 5%
buy0 USDCsell75.81 USDC (shortened; full value 75.815526717994450735288844111033362346231757950868 USDC)
Cost to move +50%
9,196.72 USDC (shortened; full value 9196.7252771 USDC)Reachable through the order book
Checks
6 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
11,467.19 USDC (shortened; full value 11467.1909773217288620450149428542 USDC)
2026-09-11T23:48:00Z — 2026-10-02T10:38:37ZOne scale across every line on this chart
2% from mid
12.37 USDC (shortened; full value 12.3782046822238687478840298868 USDC)
5% from mid
30.72 USDC (shortened; full value 30.7201549772010374765489892429 USDC)
10% from mid
4,952.32 USDC (shortened; full value 4952.3291737550170229323819551987 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.
Extreme spreadnowSPREAD_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Nothing tradable within 2%nowZERO_DEPTH_2PCT17 of 22
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREME7 of 22
Supply is concentratednowHOLDER_CONCENTRATION_HIGH7 of 22
Cheap to move the pricenowMANIPULATION_CHEAP4 of 22
Price sources disagreePRICE_SOURCE_CONFLICT5 of 22
No genuine trade in 7 daysNO_GENUINE_TRADE_7D2 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.

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
9,196.72 USDC (shortened; full value 9196.7252771 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
9,196.72 USDC (shortened; full value 9196.7252771 USDC)

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