Skip to content
keel
Ledger
65,278,933
Methodology
1.0.8-draft
Age
6s

AMM against USDC — what depth stands behind this price?

All assets

AMM / USDC

GARQ…BDOQ

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%
buy17.71 USDC (shortened; full value 17.718568522948808926413579615 USDC)sell55.61 USDC (shortened; full value 55.61058544267650923870120476240889423726805158161 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.

Lower at the end of the window than at its start

Lowest
15.60 USDC (shortened; full value 15.6059682200052790288493713477 USDC)
Highest
85.23 USDC (shortened; full value 85.2310643094148075205931360802 USDC)
2026-10-04T23:53:27Z — 2026-10-25T00:23:23ZOne scale across every line on this chart
2% from mid
15.60 USDC (shortened; full value 15.6069626436156164280131279868 USDC)
5% from mid
38.73 USDC (shortened; full value 38.7332673391470561733715755449 USDC)
10% from mid
76.55 USDC (shortened; full value 76.5547803564866108598747814875 USDC)
22 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
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Nothing tradable within 2%nowZERO_DEPTH_2PCT0 of 22
Price sources disagreePRICE_SOURCE_CONFLICTthroughout

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%0.002124 USDC (shortened; full value 0.002124999999999975 USDC)312.35 USDC (shortened; full value 312.3570551114663338670535066919 USDC)free to reach
+100%0.002833 USDC (shortened; full value 0.0028333333333333 USDC)646.82 USDC (shortened; full value 646.8244801696953865067619798794 USDC)55.41 USDC (shortened; full value 55.4130605 USDC)
+1,000%0.015583 USDC (shortened; full value 0.01558333333333315 USDC)3,448.74 USDC (shortened; full value 3448.7447003545754320305073051989 USDC)55.41 USDC (shortened; full value 55.4130605 USDC)
+10,000%0.143083 USDC (shortened; full value 0.14308333333333165 USDC)13,365.64 USDC (shortened; full value 13365.6498220236486686114104049097 USDC)55.41 USDC (shortened; full value 55.4130605 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