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keel
Ledger
65,277,136
Methodology
1.0.8-draft
Age
6s

FRED against USDC — what depth stands behind this price?

All assets

FRED / USDC

GCA7…ZLV6

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0.27 USDC (shortened; full value 0.2750000000000054737408 USDC)Limited by manipulation cost
Depth within 5%
buy20.52 USDC (shortened; full value 20.5286275592301082115392131173 USDC)sell20.92 USDC (shortened; full value 20.922484550164942212938065132542993808579868270237 USDC)
Cost to move +50%
1.10 USDC (shortened; full value 1.1000000000000218949632 USDC)Reachable through the order book
Checks
5 triggered3 not evaluated

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
0 USDC
Highest
42.60 USDC (shortened; full value 42.600947015285276499339933601 USDC)
2026-10-27T02:53:38Z — 2026-11-03T01:53:39ZOne scale across every line on this chart
2% from mid
8.27 USDC (shortened; full value 8.2735490266312546977413882531 USDC)
5% from mid
20.53 USDC (shortened; full value 20.5332449118881185209805623388 USDC)
10% from mid
40.58 USDC (shortened; full value 40.5831514411599942002006110892 USDC)
168 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICT162 of 168
Nothing tradable within 2%ZERO_DEPTH_2PCT6 of 168

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.

Volume each side can absorb before the price moves 2, 5 or 10 per cent. Buy side bears on oracle manipulation, sell side on liquidation.

  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
8.27 USDC (shortened; full value 8.2716885367888929233206363761 USDC)
Sell side
8.30 USDC (shortened; full value 8.3047735816534925663185228527433177420309203395 USDC)

5% from mid

Buy side
20.52 USDC (shortened; full value 20.5286275592301082115392131173 USDC)
Sell side
20.92 USDC (shortened; full value 20.922484550164942212938065132542993808579868270237 USDC)

10% from mid

Buy side
40.57 USDC (shortened; full value 40.5740254251317733582393265176 USDC)
Sell side
42.40 USDC (shortened; full value 42.403196046055531724757520693690915964750957701308 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.