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keel
Ledger
65,294,426
Methodology
1.0.8-draft
Age
12s

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
12.60 USDC (shortened; full value 12.601617150002128430125 USDC)Limited by manipulation cost
Depth within 5%
buy40.69 USDC (shortened; full value 40.699572970070773743736383729 USDC)sell0 USDC
Cost to move +50%
50.40 USDC (shortened; full value 50.4064686000085137205 USDC)Reachable through the order book
Checks
3 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
0.00000220 USDC (shortened; full value 0.0000022069485452 USDC)
Highest
0.00000251 USDC (shortened; full value 0.0000025115235931 USDC)
2026-10-28T02:54:33Z — 2026-11-04T01:54:34Z
Mid price
0.00000220 USDC (shortened; full value 0.0000022069485452 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Nothing tradable within 2%nowZERO_DEPTH_2PCT167 of 168
Price sources disagreePRICE_SOURCE_CONFLICT1 of 168
Extreme spreadSPREAD_EXTREME1 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.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

12.60 USDC (shortened; full value 12.601617150002128430125 USDC)

Limited by manipulation cost

Liquidation term
40.80 USDC (shortened; full value 40.80935930568085714738382127229356822563198597345 USDC)

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

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

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