What depth stands behind this price?

AQUA against USDC · GBNZIL…67AQUA

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.

Low
Medium — this asset
High
Critical

Mediumpartial 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.

6,527.21 USDC (shortened; full value 6527.214746275087100988983645 USDC)

Limited by manipulation cost

Liquidation term: 10,313.70 USDC (shortened; full value 10313.701572595000530258177256446056872051565670396602 USDC)
Sell-side depth at the liquidation delta, times the haircut.
Manipulation termbinds: 6,527.21 USDC (shortened; full value 6527.214746275087100988983645 USDC)
Order-book-only manipulation cost at the critical delta, times the safety margin.

These bands come from thresholds that were chosen, not calibrated

The thresholds were chosen based on the magnitude of the Blend incident of February 2026 and on conservative judgement, not calibrated against a set of incidents. Every flag is reported separately so that consumers can apply their own thresholds.

Every threshold, as the engine serves it

Where this number comes from

Source: GET /asset/{assetId}/depth → maxSafeCollateral, maxSafeCollateralLiquidation, maxSafeCollateralManipulation
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What this computation could not do

maxReachablePrice and costToMaxReachablePrice are null because an active pool is present: under a constant product curve the price tends to infinity as the base reserve tends to zero, so every target is reachable and a highest price has no meaning

Served by the engine with this response and shown as written.

Where does the price come from?

Two venues can disagree. Both readings are shown, not only the one that won.

Mid price: 0.00033996 USDC (shortened; full value 0.0003399612077401 USDC)
Source: order book mid
Spread: 1.1994 % (shortened; full value 1.19942641306219539246626216 %)
Undefined unless the price came from a two-sided book
Pool spot price: 0.00034079 USDC (shortened; full value 0.0003407969193763 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: 0.2452 % (shortened; full value 0.2452227671921020879464347 %)
Null means there is no pool to diverge from, not that the sources agree

Where this number comes from

Source: GET /asset/{assetId}/depth → midPrice, priceSource, spreadPct, poolSpotPrice, priceDivergencePct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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

17,005.25 USDC

Sell side

5,321.25 USDC

5% from mid

Buy side

21,693.41 USDC

Sell side

18,210.26 USDC

10% from mid

Buy side

25,772.66 USDC

Sell side

20,627.40 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.

Where this number comes from

Source: GET /asset/{assetId}/depth → depth[]
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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.
Move	Target price	Cost, all venues	Cost, order book only
0.5%	0.000509 USDC (shortened; full value 0.00050994181161015 USDC)	30,294.04 USDC (shortened; full value 30294.0493585348854807462702660388 USDC)	26,108.85 USDC (shortened; full value 26108.85898510034840395593458 USDC)
1%	0.000679 USDC (shortened; full value 0.0006799224154802 USDC)	34,646.88 USDC (shortened; full value 34646.8805316798492421558480561159 USDC)	26,914.02 USDC (shortened; full value 26914.02119870040086395593458 USDC)
10%	0.003739 USDC (shortened; full value 0.0037395732851411 USDC)	248,617.18 USDC (shortened; full value 248617.1813762193305938933315654315 USDC)	205,262.99 USDC (shortened; full value 205262.99998290369157739029563 USDC)
100%	0.034336 USDC (shortened; full value 0.0343360819817501 USDC)	926,457.29 USDC (shortened; full value 926457.2991789430329507609356273565 USDC)	757,027.69 USDC (shortened; full value 757027.69685252791988739029563 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.

How far the book actually goes

Furthest price the book reaches: not computed
Null by structure, not by failure: an active pool means every target is reachable and a highest price has no meaning
Cost to walk it that far: not computed
Null for the same reason as the price above

Against genuine volume

Not reported for this asset. Without it there is no comparison between the cost of an attack and the genuine trading it would have to hide inside.

Where this number comes from

Source: GET /asset/{assetId}/depth → manipulationCostCombined[], manipulationCostOrderbookOnly[], oracleResistance
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

Which checks fired, and which could not run?

An unevaluated check is not a check that came back clear. The two never share a treatment.

Triggered(1)

THIN_DEPTH_5PCT

Could not be evaluated(6)

MANIPULATION_RATIO_LOW
NO_GENUINE_TRADE_30D
HOLDER_CONCENTRATION_EXTREME
NO_GENUINE_TRADE_7D
HOLDER_CONCENTRATION_HIGH
WASH_TRADE_SUSPECTED

Where this number comes from

Source: GET /asset/{assetId}/depth → flags[], unevaluatedFlags[], bandConfidence
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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

Where this number comes from

Source: GET /asset/{assetId}/depth → holderTop1Pct, holderTop10Pct, holderHhi, volumeToSupply, lastGenuineTrade, tradesExcludedPct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

How has this moved over time?

A single reading cannot separate a thin asset from one that just got thin. This is a stored series, not the historical replay that health reports as unavailable — those are different endpoints.

WindowLast 24 hours Last 7 days Last 30 days

ResolutionHourly Daily

SourceHorizon Hubble Offers implied Trades implied

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

Band at each reading

Medium: 162 of 162

Which checks were firing

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

THIN_DEPTH_5PCT

throughout

Price

Lowest: 0.00033000 USDC (shortened; full value 0.00033000409494325 USDC)
Highest: 0.00034785 USDC (shortened; full value 0.00034785058161275 USDC)

2026-09-11T17:47:50Z — 2026-09-18T10:45:18Z

Mid price: 0.00033996 USDC (shortened; full value 0.0003399612077401 USDC)

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, and the lines darken as the rung widens.

Lowest: 147.32 USDC (shortened; full value 147.3254281489828115722893129184 USDC)
Highest: 30,515.00 USDC (shortened; full value 30515.0012378694281323142594396689 USDC)

2026-09-11T17:47:50Z — 2026-09-18T10:45:18ZOne scale across every line on this chart

2% from mid: 17,005.25 USDC (shortened; full value 17005.2577874010802019639777279704 USDC)
5% from mid: 21,693.41 USDC (shortened; full value 21693.414082603647273332824597695 USDC)
10% from mid: 25,772.65 USDC (shortened; full value 25772.6578048664365146266638202162 USDC)

Cost to move the price by half

The series carries one manipulation rung, at the half per cent delta the engine treats as critical. A reading the engine could not produce breaks the line rather than sitting at zero.

Lowest: 11,431.65 USDC (shortened; full value 11431.65777650057054338367867 USDC)
Highest: 33,697.82 USDC (shortened; full value 33697.82354839993994948065082 USDC)

2026-09-11T17:47:50Z — 2026-09-18T10:45:18Z

Manipulation cost, 0.5%: 25,297.42 USDC (shortened; full value 25297.42341369988263549878159 USDC)

Collateral ceiling

Lowest: 2,857.91 USDC (shortened; full value 2857.9144441251426358459196675 USDC)
Highest: 8,424.45 USDC (shortened; full value 8424.455887099984987370162705 USDC)

2026-09-11T17:47:50Z — 2026-09-18T10:45:18Z

Max safe collateral: 6,324.35 USDC (shortened; full value 6324.3558534249706588746953975 USDC)

Where this number comes from

Source: GET /asset/{assetId}/history → points[], gaps[], dataSource
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What was this computed from?

Ledger: 64,488,690
Closed at 2026-09-18T11:00:28Z
Computed at: 2026-09-18T11:00:34.898415Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against