Skip to content
keel
Ledger
64,753,397
Methodology
1.0.8-draft
Age
6s

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

Price

The midpoint the engine read at each scan. It says what the market quotes, not what it can absorb.

Lower at the end of the window than at its start

Lowest
0.10098247 USDC (shortened; full value 0.1009824709371645 USDC)
Highest
0.18241457 USDC (shortened; full value 0.1824145778830333 USDC)
2026-09-11T17:48:23Z — 2026-10-02T10:09:27Z
Mid price
0.11713894 USDC (shortened; full value 0.1171389489959375 USDC)
498 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
Extreme spreadnowSPREAD_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICT283 of 498
Cheap next to real tradingnowMANIPULATION_RATIO_LOW141 of 498
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREME141 of 498
Supply is concentratednowHOLDER_CONCENTRATION_HIGH141 of 498
No genuine trade in 30 daysNO_GENUINE_TRADE_30D104 of 498
No genuine trade in 7 daysNO_GENUINE_TRADE_7D104 of 498
Nothing tradable within 2%ZERO_DEPTH_2PCT99 of 498

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.

Both price sources, not only the one that won, and the pair that set the band.

Price used
0.11339568 USDC (shortened; full value 0.1133956889696171 USDC)

AMM pool spot price, because the book and the pool disagree or the book is one-sided

AMM pool spot price
0.11339568 USDC (shortened; full value 0.1133956889696171 USDC)

The pool with the largest quote reserve, reported whichever source set the price

Book against pool
36.5323 % (shortened; full value 36.53239502031025275275309962 %)

Past the methodology threshold, the pool price is used and PRICE_SOURCE_CONFLICT fires

Spread
96.6910 % (shortened; full value 96.69106559190054373912005623 %)

Best ask minus best bid, over the mid