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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

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
2.44 USDC (shortened; full value 2.4457449306153553820987146565 USDC)
Highest
471,107.64 USDC (shortened; full value 471107.6415538992657480339567584244 USDC)
2026-10-04T23:54:22Z — 2026-10-24T23:09:23ZOne scale across every line on this chart
2% from mid
2.44 USDC (shortened; full value 2.4457449306153553820987146565 USDC)
5% from mid
7.08 USDC (shortened; full value 7.0825006839009294126868640686 USDC)
10% from mid
471,096.73 USDC (shortened; full value 471096.7397898111836500653542830768 USDC)
21 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

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.

An averaging oracle makes an attacker outweigh genuine trading as well as move the book. A market with no genuine volume has no such defence.

Cost of a 50% move, order book only
471,085.41 USDC (shortened; full value 471085.41365044629694821810576 USDC)

The target is reachable through the order book

Genuine volume in the oracle window
0 USDC

Over the last 900 seconds (15 minutes), after the genuine-trade filter

Cost against genuine volume
not computed

Below 1, moving the price is cheaper than all genuine trading across the window. Not computed when there was no genuine volume or the target is unreachable

Total attack cost
471,085.41 USDC (shortened; full value 471085.41365044629694821810576 USDC)

The move, plus the genuine volume an averaging oracle forces an attacker to outweigh