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keel
Ledger
65,278,045
Methodology
1.0.8-draft
Age
6s

USDM against USDC — what depth stands behind this price?

All assets

USDM / USDC

GDHD…USDM

Risk band

Medium

partial confidence

A floor: the real band can only be worse.

Max safe collateral
7.20 USDC (shortened; full value 7.203950909036090075311675869282465046001975494291 USDC)Limited by liquidation depth
Depth within 5%
buy471,095.12 USDC (shortened; full value 471095.1291211258830089776991720301 USDC)sell6.17 USDC (shortened; full value 6.177617492735416186845882898376197930162396111513 USDC)
Cost to move +50%
471,085.41 USDC (shortened; full value 471085.41365044629694821810576 USDC)Reachable through the order book
Checks
1 triggered3 not evaluated

History

Window
Resolution
Source

Price

The midpoint the engine read at each scan. It says what the market quotes, not what it can absorb.

Lower at the end of the window than at its start

Lowest
0.95433729 USDC (shortened; full value 0.9543372991060802 USDC)
Highest
0.95916565 USDC (shortened; full value 0.95916565162180665 USDC)
2026-11-02T03:54:24Z — 2026-11-03T03:09:24Z
Mid price
0.95646055 USDC (shortened; full value 0.9564605509371421 USDC)
25 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.
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Price sources disagreePRICE_SOURCE_CONFLICT2 of 25
Extreme spreadSPREAD_EXTREME2 of 25

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.

7.20 USDC (shortened; full value 7.203950909036090075311675869282465046001975494291 USDC)

Limited by liquidation depth

Liquidation termbinds
7.20 USDC (shortened; full value 7.203950909036090075311675869282465046001975494291 USDC)

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

Manipulation term
117,771.35 USDC (shortened; full value 117771.35341261157423705452644 USDC)

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