Skip to content
keel
Ledger
64,753,578
Methodology
1.0.8-draft
Age
7s

XAU against USDC — what depth stands behind this price?

All assets

XAU / USDC

GBCB…LXAU

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
12.60 USDC (shortened; full value 12.60857832499587723145 USDC)Limited by manipulation cost
Depth within 5%
buy67.46 USDC (shortened; full value 67.469565678716716478960010853 USDC)sell25.48 USDC (shortened; full value 25.48864258270117077919407445035630909628306510252 USDC)
Cost to move +50%
50.43 USDC (shortened; full value 50.4343132999835089258 USDC)Reachable through the order book
Checks
2 triggered3 not evaluated

Cost to move the price 50%

The stored series carries one manipulation rung, the +50% move. A reading the engine could not produce breaks the line rather than sitting at zero.

Higher at the end of the window than at its start

Lowest
0 USDC
Highest
570.89 USDC (shortened; full value 570.8945849999180464496 USDC)
2026-09-11T17:48:29Z — 2026-10-02T10:09:32Z
Cost to move +50%
50.43 USDC (shortened; full value 50.4340015000090766656 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Cheap next to real tradingMANIPULATION_RATIO_LOW193 of 498
Nothing tradable within 2%ZERO_DEPTH_2PCT125 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.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

12.60 USDC (shortened; full value 12.60857832499587723145 USDC)

Limited by manipulation cost

Liquidation term
20.82 USDC (shortened; full value 20.827294627400307482004051056671171092963689542124 USDC)

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

Manipulation termbinds
12.60 USDC (shortened; full value 12.60857832499587723145 USDC)

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