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keel
Ledger
64,753,398
Methodology
1.0.8-draft
Age
9s

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 12.6086921500010565411 USDC)Limited by manipulation cost
Depth within 5%
buy67.69 USDC (shortened; full value 67.6916104291611428086531270011 USDC)sell25.24 USDC (shortened; full value 25.244537310546419492741898319265589567926407733888 USDC)
Cost to move +50%
50.43 USDC (shortened; full value 50.4347686000042261644 USDC)Reachable through the order book
Checks
2 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
18.55 USDC (shortened; full value 18.5545050016665328666899504053 USDC)
Highest
83.78 USDC (shortened; full value 83.7804936371980072147085594256 USDC)
2026-10-02T23:54:32Z — 2026-10-03T18:24:32ZOne scale across every line on this chart
2% from mid
18.55 USDC (shortened; full value 18.5545050016665328666899504053 USDC)
5% from mid
68.69 USDC (shortened; full value 68.691095601805620708486182916 USDC)
10% from mid
83.78 USDC (shortened; full value 83.7804936371980072147085594256 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout

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 12.6086921500010565411 USDC)

Limited by manipulation cost

Liquidation term
20.69 USDC (shortened; full value 20.699045576355204232655546883141575189639045588233 USDC)

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

Manipulation termbinds
12.60 USDC (shortened; full value 12.6086921500010565411 USDC)

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