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keel
Ledger
64,752,496
Methodology
1.0.8-draft
Age
9s

USDT against USDC — what depth stands behind this price?

All assets

USDT / USDC

GCQT…TG6V

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0 USDCLimited by manipulation cost
Depth within 5%
buy10.81 USDC (shortened; full value 10.8141271335071388270995520521 USDC)sell11.02 USDC (shortened; full value 11.021604207174191047570352654319588884698007491053 USDC)
Cost to move +50%
0 USDCReachable at no cost: nothing stands in the way
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.

Higher at the end of the window than at its start

Lowest
4.35 USDC (shortened; full value 4.3547235961130356709934747989 USDC)
Highest
21.37 USDC (shortened; full value 21.3736971942990166458789480805 USDC)
2026-10-02T23:54:27Z — 2026-10-03T17:09:22ZOne scale across every line on this chart
2% from mid
4.35 USDC (shortened; full value 4.3573829369508734669708692161 USDC)
5% from mid
10.81 USDC (shortened; full value 10.8141271335071388270995520521 USDC)
10% from mid
21.37 USDC (shortened; full value 21.3736971942990166458789480805 USDC)
2 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.

Read cost together with reachability: a figure on an unreachable rung says how far the book goes, not what the move costs.

Cost to move the price by each delta, through all venues and through the order book alone, with whether the target is reachable at all.
MoveTarget priceCost, all venuesCost, order book only
+50%0.170093 USDC (shortened; full value 0.17009353345442565 USDC)98.41 USDC (shortened; full value 98.4171724427846780952158737104 USDC)free to reach
+100%0.226791 USDC (shortened; full value 0.2267913779392342 USDC)220.83 USDC (shortened; full value 220.8343065165904555197761709648 USDC)39.44 USDC (shortened; full value 39.44761972014738 USDC)
+1,000%1.247352 USDC (shortened; full value 1.2473525786657881 USDC)13,641.09 USDC (shortened; full value 13641.0958153050396834458316779505 USDC)12,626.63 USDC (shortened; full value 12626.63145816122679 USDC)
+10,000%11.452964 USDC (shortened; full value 11.4529645859313271 USDC)16,589.62 USDC (shortened; full value 16589.628095524940729485980141617 USDC)12,626.63 USDC (shortened; full value 12626.63145816122679 USDC)

Reachability on the all-venues ladder is unconditionally true whenever an active pool exists, because a constant product curve has no upper price bound. The order-book-only column is the one that answers whether a target is attainable, and it is the one Keel itself uses.

Highest price the book can reach
not computed

Absorbing every ask. Not computed when an active pool exists, because a constant product curve has no highest price

Cost to reach it
not computed

Every ask below that price. Catches an attack that lands between two rungs of the ladder