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Keel
Ledger
64,492,650
Methodology
1.0.8-draft
Age
4s

AFR against USDC — what depth stands behind this price?

How has this moved over time?

WindowLast 24 hoursLast 7 daysLast 30 days
ResolutionHourlyDaily
SourceHorizonHubbleOffers impliedTrades implied

Price

Mid price
0.00057709 USDC (shortened; full value 0.0005770939105115 USDC)

Higher than at the start of the window

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.

2% from mid
60.25 USDC (shortened; full value 60.2519429576179334353252150293 USDC)
5% from mid
76.01 USDC (shortened; full value 76.0125241971484954638289195006 USDC)
10% from mid
101.78 USDC (shortened; full value 101.7878928243257337602877088964 USDC)

Higher than at the start of the window

Cost to move the price by half

One manipulation rung, at the delta the engine treats as critical. A reading it could not produce breaks the line rather than sitting at zero.

Manipulation cost, 0.5%
222.60 USDC (shortened; full value 222.60734940003 USDC)

Lower than at the start of the window

Collateral ceiling

Max safe collateral
2.60 USDC (shortened; full value 2.602794944550112683476254695487942451589336945507 USDC)

Lower than at the start of the window

2026-09-11T17:47:50Z — 2026-09-18T16:30:28Z

Which checks were firing

Whether a finding has been there all along or started recently. Only checks that fired at least once appear.

MANIPULATION_CHEAPthroughout
THIN_DEPTH_5PCTthroughout
PRICE_SOURCE_CONFLICT67 of 168
SPREAD_EXTREME46 of 168
ZERO_DEPTH_2PCT19 of 168

168 readings from horizon, with no gaps reported. One source per chart.

How much can this asset safely back?

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

Risk band

Critical

partial confidence

A band marked partial is a floor. At least one high-severity check could not be evaluated, so the real band can only be worse than the one shown, never better.

2.60 USDC (shortened; full value 2.602794944550112683476254695487942451589336945507 USDC)

Limited by liquidation depth

Liquidation termbinds
2.60 USDC (shortened; full value 2.602794944550112683476254695487942451589336945507 USDC)

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

Manipulation term
55.65 USDC (shortened; full value 55.6518373500075 USDC)

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

What volume can it absorb before the price moves?

Three rungs at 2, 5 and 10 per cent, in each direction. The buy side matters for oracle manipulation and the sell side for liquidation.
  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
60.25 USDC (shortened; full value 60.2519429576179334353252150293 USDC)
Sell side
0 USDC

5% from mid

Buy side
76.01 USDC (shortened; full value 76.0125241971484954638289195006 USDC)
Sell side
0 USDC

10% from mid

Buy side
101.78 USDC (shortened; full value 101.7878928243257337602877088964 USDC)
Sell side
5.20 USDC (shortened; full value 5.205589889100225366952509390975884903178673891014 USDC)

Bars share one scale. The venue split decomposes the buy side; the sell side is drawn as an outline because its composition is not reported.

What would it cost to move the price?

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
0.5%0.000865 USDC (shortened; full value 0.00086564086576725 USDC)512.45 USDC (shortened; full value 512.4544116238723194593587479761 USDC)222.60 USDC (shortened; full value 222.60734940003 USDC)
1%0.001154 USDC (shortened; full value 0.001154187821023 USDC)1,551.52 USDC (shortened; full value 1551.5246163695447997902669540045 USDC)1,059.15 USDC (shortened; full value 1059.15322740023992 USDC)
10%0.006348 USDC (shortened; full value 0.0063480330156265 USDC)20,602.90 USDC (shortened; full value 20602.9012769896992514919570881409 USDC)18,077.03 USDC (shortened; full value 18077.0300462036136187150426 USDC)
100%0.058286 USDC (shortened; full value 0.0582864849616615 USDC)93,745.62 USDC (shortened; full value 93745.6234225692744695701313895753 USDC)84,022.53 USDC (shortened; full value 84022.5362072054902987150426 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.

Who holds it, and is it genuinely traded?

Concentration and wash trading bound how much of the depth above is real.
Largest holder
not computed
Top ten holders
not computed
Concentration index
not computed

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

Of 30 day volume. A high share indicates suspected wash trading

Volume to supply, 30 day
not computed
Last genuine trade
not computed

No genuine trade was found in the window