What depth stands behind this price?

USDZ against USDC · GAKTLP…5U6XPR

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
High
Critical — this asset

Criticalpartial 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.

1,117.70 USDC (shortened; full value 1117.706073899497074639240015 USDC)

Limited by manipulation cost

Liquidation term: 2,538.19 USDC (shortened; full value 2538.191296881451359136725665635044149464390868835948 USDC)
Sell-side depth at the liquidation delta, times the haircut.
Manipulation termbinds: 1,117.70 USDC (shortened; full value 1117.706073899497074639240015 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: 1.00000280 USDC (shortened; full value 1.0000028046828275 USDC)
Source: order book mid
Spread: 0.2195 % (shortened; full value 0.21956047180259513746344802 %)
Undefined unless the price came from a two-sided book
Pool spot price: 1.00117016 USDC (shortened; full value 1.0011701616247994 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: 0.1165 % (shortened; full value 0.11659925422441635864948356 %)
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

3,640.57 USDC

Sell side

4,333.03 USDC

5% from mid

Buy side

4,907.77 USDC

Sell side

4,608.10 USDC

10% from mid

Buy side

5,344.76 USDC

Sell side

5,076.38 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%	1.500004 USDC (shortened; full value 1.50000420702424125 USDC)	8,533.09 USDC (shortened; full value 8533.0909937679180429766925901731 USDC)	4,470.82 USDC (shortened; full value 4470.82429559798829855696006 USDC)
1%	2.000005 USDC (shortened; full value 2.000005609365655 USDC)	11,966.65 USDC (shortened; full value 11966.6548213925417146695300513936 USDC)	4,470.82 USDC (shortened; full value 4470.82429559798829855696006 USDC)
10%	11.000030 USDC (shortened; full value 11.0000308515111025 USDC)	46,442.27 USDC (shortened; full value 46442.2736892326913587892796111206 USDC)	4,470.82 USDC (shortened; full value 4470.82429559798829855696006 USDC)
100%	101.000283 USDC (shortened; full value 101.0002832729655775 USDC)	168,462.67 USDC (shortened; full value 168462.6791455435701883886153489136 USDC)	4,470.82 USDC (shortened; full value 4470.82429559798829855696006 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(2)

MANIPULATION_CHEAP
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

Critical: 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.

MANIPULATION_CHEAP

throughout

THIN_DEPTH_5PCT

throughout

Price

Lowest: 0.99998807 USDC (shortened; full value 0.99998807757571975 USDC)
Highest: 1.00150863 USDC (shortened; full value 1.00150863598980185 USDC)

2026-09-11T17:48:23Z — 2026-09-18T10:45:48Z

Mid price: 1.00000280 USDC (shortened; full value 1.0000028046828275 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: 3,614.92 USDC (shortened; full value 3614.9242908971300599393299583444 USDC)
Highest: 6,043.53 USDC (shortened; full value 6043.5399387185738146004622969249 USDC)

2026-09-11T17:48:23Z — 2026-09-18T10:45:48ZOne scale across every line on this chart

2% from mid: 3,640.57 USDC (shortened; full value 3640.5734420248090378625207565056 USDC)
5% from mid: 4,907.77 USDC (shortened; full value 4907.775720960930977734517865962 USDC)
10% from mid: 5,344.76 USDC (shortened; full value 5344.7670433574595304947344078575 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: 3,778.65 USDC (shortened; full value 3778.65604674969213955689098 USDC)
Highest: 5,165.73 USDC (shortened; full value 5165.732897783813844697589 USDC)

2026-09-11T17:48:23Z — 2026-09-18T10:45:48Z

Manipulation cost, 0.5%: 4,470.82 USDC (shortened; full value 4470.82429559798829855696006 USDC)

Collateral ceiling

Lowest: 944.66 USDC (shortened; full value 944.664011687423034889222745 USDC)
Highest: 1,291.43 USDC (shortened; full value 1291.43322444595346117439725 USDC)

2026-09-11T17:48:23Z — 2026-09-18T10:45:48Z

Max safe collateral: 1,117.70 USDC (shortened; full value 1117.706073899497074639240015 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: 64,488,696
Closed at 2026-09-18T11:00:58Z
Computed at: 2026-09-18T11:01:07.017858Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against