Live risk data · By CoinNudge Research · Method reviewed 2026-09-09 · Guide updated 2026-09-12 · Live sources · Data observed at · Calculation stablecoin-peg-2.0 · Auto-refresh about every 300 seconds
Stablecoin peg and depeg monitor
Current answer: As of , using Coinbase, OKX, Binance and MEXC public stablecoin spot observations: 7 named stablecoins have current tracked observations. FDUSD is furthest from the $1 reference at -0.12% using 2 venue observations, including 0 direct-USD markets. This measures traded price, not reserves or guaranteed redemption.
Live sources
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Current source-backed snapshot
This page monitors available spot observations for USDT, USDC, FDUSD, DAI, USDS, PYUSD, RLUSD and TUSD across Coinbase, OKX, Binance and MEXC. It ranks assets by absolute distance from the one-dollar reference using one retained liquid observation per venue. Direct USD pairs are stronger evidence than stablecoin-quoted pairs, which are explicitly treated as cross-stablecoin proxies. A price deviation can reveal market stress, but this page does not audit reserves, guarantee redemption or prove that a peg has permanently failed.
Input documentation: Coinbase public spot products · OKX spot tickers · Binance spot ticker · MEXC spot ticker
Observation window: Latest available USD or liquid stable-quote observations with a 30-day local deviation maximum
Calculation cadence: Auto-refresh about every 300 seconds
Calculation version: stablecoin-peg-2.0
Download current dataset: JSON · CSV Raw values retain the dataset's published precision. Free fair-use limit: 60 requests per minute per IP, shared across all Research JSON and CSV endpoints.
| Stablecoin | Median price | Deviation | Venue range | Observed volume | Evidence | Status |
|---|---|---|---|---|---|---|
| FDUSD · 30d max absolute deviation 0.1400% · 14.8% partial history | $0.998750 | -0.1250% | $0.998700–$0.998800 | $6.40M | 2 venues · 0 direct USD · 1278 samples | near peg |
| USDT · 30d max absolute deviation 0.0460% · 14.8% partial history | $0.999620 | -0.0380% | $0.999600–$0.999640 | $106.79M | 2 venues · 2 direct USD · 1278 samples | near peg |
| TUSD · 30d max absolute deviation 0.1350% · 14.8% partial history | $0.999650 | -0.0350% | $0.999600–$0.999700 | $276.75K | 2 venues · 0 direct USD · 1278 samples | near peg |
| RLUSD · 30d max absolute deviation 0.0500% · 14.8% partial history | $1.000200 | +0.0200% | $1.000200–$1.000200 | $386.17K | 1 venue · 0 direct USD · 1278 samples | near peg |
| USDC · 30d max absolute deviation 0.0390% · 14.8% partial history | $1.000190 | +0.0190% | $1.000170–$1.000190 | $1.22B | 3 venues · 0 direct USD · 1278 samples | near peg |
| USDS · 30d max absolute deviation 0.0300% · 14.8% partial history | $0.999900 | -0.01000% | $0.999800–$1.000100 | $325.76K | 3 venues · 1 direct USD · 1278 samples | near peg |
| PYUSD · 30d max absolute deviation 0.0700% · 14.8% partial history | $0.999900 | -0.01000% | $0.999900–$0.999900 | $55,664.73 | 1 venue · 0 direct USD · 1278 samples | near peg |
Current source health
- stablecoin spot: live; last success 2026-09-13 15:40:51 UTC
A stable-quote pair is a cross-stablecoin price proxy, not an independent US-dollar redemption value. Single-venue deviations and low-volume pairs receive weaker evidence; reserve quality and redemption access are not measured here.
How to read this page
- Direct USD observations and stable-quoted proxies remain distinguishable.
- Cross-venue median reduces the effect of one transient bad print.
- Alert-level status requires 0.50% deviation plus evidence-quality conditions.
- The page measures traded price, not reserves or guaranteed redemption value.
What can this page tell you quickly?
- Best for
- Seeing whether a major stablecoin price deviation is isolated or visible across venues.
- Ranking
- Largest absolute median deviation from $1 first.
- Evidence
- Venue count, direct USD count, liquidity and high-low range.
- Do not infer
- A temporary deviation does not prove insolvency or permanent depeg.
What does the stablecoin monitor actually measure?
The monitor measures executable-market reference prices reported by named spot venues. It calculates one median price after retaining one liquid observation per venue, then shows the high-low range so a visitor can see whether venues agree.
A direct USDT-USD market compares USDT with dollars on that venue. A USDC-USDT market compares two stablecoins, so either side can contribute to the difference. CoinNudge labels that second case as a proxy rather than silently calling it a dollar price.
| Evidence | Strength | Boundary |
|---|---|---|
| Several direct USD venues | Stronger price confirmation | Still does not audit issuer reserves |
| Several stable-quote venues | Cross-market stress context | Quote asset may also deviate |
| One low-volume venue | Early observation only | Can be a local liquidity problem |
| Issuer redemption data | Not measured | Must be verified with the issuer |
When does a stablecoin deviation become alert-level?
CoinNudge marks an asset for watch at an absolute 0.25% median deviation. The stronger 0.50% label also requires observations from at least two venues or a direct USD market, reducing the chance that one thin stable-quoted pair creates a false alarm.
These are CoinNudge product thresholds, not universal definitions of depeg. The page preserves the actual deviation and evidence count so users and machines can evaluate the label rather than treating it as an unquestionable fact.
What should be checked after a stablecoin price alert?
Check whether the deviation is visible on multiple venues, whether direct USD markets agree, how much volume supports the observation and whether the range is widening. Then review issuer redemption status and official communications independently.
A premium above $1 can also be material. It may reflect demand for settlement assets or venue-specific scarcity, and should not automatically be treated as safer than a discount.
How should a stablecoin alert arrive in Telegram?
The message should name the asset, median price, deviation, participating venues, direct-USD evidence, liquidity and duration. It should say whether the observation is watch-level or alert-level and avoid claims about reserves that the market feed cannot support.
This design turns a raw price into an evidence checklist. CoinNudge does not move funds, redeem stablecoins or connect to a subscriber's exchange account.
How do I distinguish a direct dollar depeg from a stablecoin cross-pair move?
A direct USD quote and a USDT-quoted pair have different denominators. A token can move against USDT while its direct dollar price changes less, or the reverse.
This measures observed prices, not issuer reserves, redemption eligibility or solvency. Public monitoring does not imply a redemption guarantee.
- Record the quote currency and whether a direct USD reference is available.
- Compare aligned observations across named venues and inspect quote liquidity.
- Separate a brief local deviation from persistent multi-venue evidence before describing severity.
Verify: Coinbase public spot products · OKX spot tickers · Binance spot ticker · MEXC spot ticker
What is measured, and what is not?
| Measured claim | Evidence on this page | Boundary |
|---|---|---|
| A stablecoin trades away from the $1 reference in tracked markets. | Median current market observations and venue range. | This is not issuer redemption value. |
| The deviation is cross-venue or direct-USD confirmed. | Venue count and direct USD count. | It does not prove reserve impairment. |
| The current move exceeds a CoinNudge threshold. | 0.25% watch and 0.50% evidence-qualified alert levels. | Thresholds are product rules, not universal depeg definitions. |
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Market Events v1 connects recorded events and comparison rows with context, later outcomes and quality flags. Paid access provides customer API keys and daily JSON, CSV and Parquet files.
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Researcher and Research Desk currently include Market Events v1 only, for its specified pairs and published history. This page's full dataset is not automatically included. Other data families require coverage, date, field and source-use confirmation before purchase. Telegram Pro and data access are separate subscriptions.
Method and data boundary
CoinNudge retains the most liquid available observation per venue and stablecoin, then calculates the median price and its percentage distance from $1. Direct USD observations are counted separately. A 0.25% absolute deviation enters watch state; a 0.50% deviation requires at least two venues or one direct USD observation before alert-level. Five-minute local snapshots preserve a rolling 30-day maximum; history start, sample count, estimated coverage and full-versus-partial status are published so a short collection period is not described as a complete 30 days.
Stable-quoted pairs depend on the quote asset and are not independent dollars. Market price is different from issuer redemption value. Reserve composition, banking access, chain liquidity and redemption eligibility are outside this dataset.
Sources and verification
- Coinbase public spot productsAvailable direct USD and USDC-quoted spot prices.
- OKX spot tickersAvailable stablecoin spot observations.
- Binance spot tickerNamed USDT-quoted stablecoin markets.
- MEXC spot tickerNamed USDT-quoted stablecoin markets.
Frequently asked questions
Which stablecoins are monitored?
USDT, USDC, FDUSD, DAI, USDS, PYUSD, RLUSD and TUSD when a valid tracked market is available.
Is a USDC-USDT price a dollar price?
No. It is a cross-stablecoin proxy and the quote asset can also move.
What triggers alert-level status?
At least 0.50% median deviation plus two venues or one direct USD observation.
Does a discount prove the issuer is insolvent?
No. The page does not inspect reserves, liabilities or redemption access.
Why can a stablecoin be missing?
No fresh valid market may be available from the tracked venues.
How often does it update?
The materialized snapshot refreshes approximately every five minutes.
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