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keel
Ledger
64,753,576
Methodology
1.0.8-draft
Age
8s

USDM against USDC — what depth stands behind this price?

All assets

USDM / USDC

GDHD…USDM

Risk band

Medium

partial confidence

A floor: the real band can only be worse.

Max safe collateral
1,504.69 USDC (shortened; full value 1504.693756467463945587803300513035207944576411974464 USDC)Limited by liquidation depth
Depth within 5%
buy471,084.09 USDC (shortened; full value 471084.0922278586224602143138808608 USDC)sell3,001.18 USDC (shortened; full value 3001.18365761788588108793812654209491568778713773233 USDC)
Cost to move +50%
471,077.06 USDC (shortened; full value 471077.06905271895662717570976 USDC)Reachable through the order book
Checks
1 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
1.93 USDC (shortened; full value 1.9353452524971245694809813099 USDC)
Highest
471,092.79 USDC (shortened; full value 471092.7901715449667816235945457426 USDC)
2026-09-11T23:48:22Z — 2026-10-02T10:09:22ZOne scale across every line on this chart
2% from mid
1.93 USDC (shortened; full value 1.9353452524971245694809813099 USDC)
5% from mid
471,083.52 USDC (shortened; full value 471083.521972205085897570770219134 USDC)
10% from mid
471,091.18 USDC (shortened; full value 471091.1883892824574285490782960446 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.
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Volume may be wash tradedWASH_TRADE_SUSPECTED1 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.

1,504.69 USDC (shortened; full value 1504.693756467463945587803300513035207944576411974464 USDC)

Limited by liquidation depth

Liquidation termbinds
1,504.69 USDC (shortened; full value 1504.693756467463945587803300513035207944576411974464 USDC)

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

Manipulation term
117,769.26 USDC (shortened; full value 117769.26726317973915679392744 USDC)

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