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keel
Ledger
65,295,147
Methodology
1.0.8-draft
Age
5s

XAU against USDC — what depth stands behind this price?

All assets

XAU / USDC

GBCB…LXAU

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
1.71 USDC (shortened; full value 1.715687144234559790355823329712061054946711420925 USDC)Limited by liquidation depth
Depth within 5%
buy40.04 USDC (shortened; full value 40.0431689278772886028194242463 USDC)sell0 USDC
Cost to move +50%
50.40 USDC (shortened; full value 50.4064686000085137205 USDC)Reachable through the order book
Checks
4 triggered3 not evaluated

History

Window
Resolution
Source

Collateral ceiling

The most this asset could back at each reading: the lower of the liquidation and manipulation limits.

Unchanged across the window

Lowest
7.37 USDC (shortened; full value 7.371867207063193410372405059281874567107210240559 USDC)
Highest
12.60 USDC (shortened; full value 12.601617150002128430125 USDC)
2026-11-03T03:54:34Z — 2026-11-04T02:54:34Z
Max safe collateral
12.60 USDC (shortened; full value 12.601617150002128430125 USDC)
24 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Nothing tradable within 2%nowZERO_DEPTH_2PCT23 of 24
Extreme spreadnowSPREAD_EXTREME1 of 24
Price sources disagreePRICE_SOURCE_CONFLICT1 of 24

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.

1.71 USDC (shortened; full value 1.715687144234559790355823329712061054946711420925 USDC)

Limited by liquidation depth

Liquidation termbinds
1.71 USDC (shortened; full value 1.715687144234559790355823329712061054946711420925 USDC)

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

Manipulation term
12.60 USDC (shortened; full value 12.601617150002128430125 USDC)

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