HKEXCx

Terms

What is posted on chain right now, signed by the Kerb attester inside the contract guardrails.

Regime

Reference closed

The underlying market is closed, so no new reference price is arriving.

Credit Mark

48.701131

band 48.2141 to 49.4576

Carry LTV

50.00%

The ceiling a position can be drawn to and still be safe to hold through the next weakening.

Session Max LTV

55.00%

Only available while the session holds, and only with the cure covenant attached.

Debt ceiling

10,603.19

In USDG, the total debt this asset may support.

Executable depth at 1%

14,137.59

The notional that can be sold into the real pools for at most 1% impact, in USDG.

Usable for new risk

yes

Posted 2026-09-20 22:55 UTC, 2m 58s ago. transaction

Input bundle

0x79f1afbe…60f6e724

The keccak256 of the canonical inputs, posted with the report. Recompute it with kerb verify.

Executable depth

Simulated by walking the real pool tick by tick, in the direction of a sale, from the pool state Kerb observed. Not an aggregator estimate.

Aggregate depth

14,137.59 at 1%

C(0.5%) 6,780.47 · C(3%) 39,654.60 · fragmentation factor 1 applied across eligible venues.

Cross-check

unavailable

okx-dex: no aggregator quotes in the bundle

Executable depth is on rung 2 for this asset: the tick-walk stands on its own until the aggregator answers again.

How the Credit Mark was made

The conservative minimum of the reference median and the pool price, after the dispersion guard and the regime haircut. Every component names its sources.

Reference

49.457623

Sources used: yahoo:chart:0388.HK, yahoo:chart:HKD=X

Pool

49.486879

Time-weighted average over 900s along 0x293A…7Ed4

Dispersion

0.059%

Within the guard.

Regime haircut

1.530%

Credit Mark

48.701131

Band 48.214120 to 49.457623. USDG is treated as 1 USD; the USDG peg is observed separately and reported

Next transitions

Resolved from the Kerb calendar, kerb-calendar@0.1.0 (2025-12-01..2027-12-31). The onchain KerbClock is equivalence-tested against this same resolver.

Session now

CLOSED

XHKG · Asia/Hong_Kong · since 2026-09-18 08:10 UTC

Next transition

pre open

2026-09-21 01:00 UTC · in 2h 01m

Next weakening

lunch break

2026-09-21 04:00 UTC

The deadline a Session Max position must cure by.

Last Call window

closed

2026-09-21 03:30 UTC to 2026-09-21 04:00 UTC · 30m 00s long

Terms history

Every post Kerb has made for this asset, newest first, each one a transaction.

Scroll the table sideways for capacity and the transaction.