Retained incident replay

DYDX liquidity is low relative to open interest

What happened

Two-sided depth within 1% is 4.35% of open interest.

Why it matters

This deterministic condition affected DYDX on native. It is evidence to review, not proof that a loss or manipulation occurred.

Lifecycle

• Status active; severity warning
• Detected 2026-07-30T10:11:43.905Z
• Current cycle 2026-09-20T05:03:13.389Z

Recommended action

Compare the current oracle, mark, liquidity, funding, exposure, coverage, and freshness before changing a position or operating decision.

Open DYDX market evidence

{
  "depth100BpsUsd": 74067.912035,
  "openInterestNotionalUsd": 1704234.2197999998,
  "adequacyPercent": 4.346111067039379,
  "thresholdPercent": 5
}