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keel
Ledger
65,294,247
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
12.60 USDC (shortened; full value 12.601617150002128430125 USDC)Limited by manipulation cost
Depth within 5%
buy13.50 USDC (shortened; full value 13.5026719213659956305404721342 USDC)sell101.13 USDC (shortened; full value 101.139620726804105804946237544710841884172267872684 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

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
7.92 USDC (shortened; full value 7.9252467594623798882277897753 USDC)
Highest
96.92 USDC (shortened; full value 96.9277045810015698420409243335 USDC)
2026-10-05T02:54:32Z — 2026-10-25T21:54:33ZOne scale across every line on this chart
2% from mid
22.82 USDC (shortened; full value 22.8235263812013654121158474179 USDC)
5% from mid
31.37 USDC (shortened; full value 31.3730948104460304852436880608 USDC)
10% from mid
95.78 USDC (shortened; full value 95.7867534837054690572667846732 USDC)
500 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
Price sources disagreenowPRICE_SOURCE_CONFLICT0 of 500
Extreme spreadnowSPREAD_EXTREME0 of 500
Nothing tradable within 2%ZERO_DEPTH_2PCT230 of 500

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
102.63 USDC (shortened; full value 102.634262166857230967593912011080019899955518285128 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.