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Exit depth / cbETH/VCHF 77%

Market · Morpho Blue on Base · snapshot

cbETH / VCHF 77%

loss from $200k

Selling $200k of cbETH costs 27.5%, more than the 7.4% bonus: a single liquidation of that size loses money; it has to be split across blocks. Up to $25k the sale costs 2.1% and clearance stays positive.

borrowed
$161k
in this market; LLTV (liquidation loan-to-value) 77%
liquidation bonus
7.4%
fixed by the LLTV
clearing size
$25k
largest measured size with positive clearance
clearance at $1M
<-43 pp
bonus minus exit cost, all sources

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Exit cost against the bonus

Clearance by size

Exit cost against sale size, cbETH/VCHF, LLTV 77%Exit cost with all sources at $25k: 2.1%; $200k: 27.5%; $1M: >50%. Liquidation bonus 7.41%.0%10%20%30%40%50%$25k$200k$1Msize of the sale (USD, log scale)above the bonus: a single liquidation loses moneybonus 7.4%LLTV 77%on-chain only: >50%2.1%27.5%>50%
Exit cost against sale size, cbETH/VCHF, LLTV 77%Exit cost with all sources at $25k: 2.1%; $200k: 27.5%; $1M: >50%. Liquidation bonus 7.41%.0%10%20%30%40%50%$25k$200k$1Msize of the sale (USD, log scale)above the bonus: loss7.4%bonuson-chain only: >50%2.1%27.5%>50%

Source: KyberSwap Aggregator API, Morpho API · snapshot 2026-11-14 21:23 UTC

Solid line: best route, all sources including RFQ market makers (a square marks a loss). Dashed line, diamonds: on-chain pools only, drawn where it differs. Hatched: the sale costs more than the bonus. Three sizes are measured; the lines between them are a guide, not a measurement. A diamond on the top edge is off the scale; its value is written next to it.

Exit cost and clearance by sale size
SaleAll sourcesClearanceOn-chain onlyClearanceStatus
$25k2.1%+5.4 pp1.9%+5.5 ppclears
$200k27.5%-20.1 pp>50%<-43 pploss
$1M>50%<-43 pp>50%<-43 pploss

Clearance: bonus minus exit cost, in percentage points (pp). Positive - room for a liquidator; negative - a single liquidation of that size loses money and has to be split across blocks. Terms.

Venues

Where the sale goes

$25k
aero-cl 75%maverick-v2 25%
aero-cl 75% AMM pool · maverick-v2 25% AMM pool · RFQ share 0%
$200k
aero-cl 85%
aero-cl 85% AMM pool · kyberswap-limit-order-v2/aerodrome 8% RFQ maker · uniswapv3 7% AMM pool · RFQ share 8%
$1M
kyberswap-limit-order-v2/uniswap-v4 44%aero-cl 24%
kyberswap-limit-order-v2/uniswap-v4 44% RFQ maker · aero-cl 24% AMM pool · uniswapv3 8% AMM pool · aerodrome 8% AMM pool · curve 4% AMM pool · sharkswap-v2 4% AMM pool · aave-v3 4% AMM pool · alien-base-cl 4% AMM pool · RFQ share 44%
AMM poolRFQ market maker (pmm-N: numbered by the aggregator)market-maker pool or vault

Share of the collateral each venue takes on the route's first hops (out of cbETH); later hops, such as WETH into USDC, are not shown. pmm-N are RFQ (request for quote) market makers KyberSwap identifies only by number.

Collateral near liquidation

Positions close to liquidation

health factor below 1.1
$0
within 10% of liquidation
between 1.1 and 1.25
$214k
within 10-20% of liquidation
health factor below 1.25
$214k
within 20%, includes the 10% band

Collateral of the market's positions by health factor (Morpho API). It is spread over positions of different sizes; a large position is liquidated in parts across blocks, which this site does not measure.

Liquidations

This pair, last 30 days

cbETH/VCHF is not among the 10 pairs with the most liquidation bonus over the last 30 days. Liquidations.

For curators

Curate or supply this market?

A review measures cbETH/VCHF 77% at the sizes of your own positions, adds a 10% and a 20% fall in the price and shows the venue split. The first one is free and private to you.

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Cite

Cite or quote this market

Cite as: Underkeel, Clearance v2, cbETH/VCHF 77% on Morpho Blue, Base, snapshot 2026-11-14T21:23Z, data sha256 81b87af3. https://underkeel.xyz/markets/cbeth-vchf-77.html

Quote this: Underkeel (Clearance v2, snapshot 2026-11-14 21:23 UTC): selling $200k of cbETH into VCHF costs 27.5% against a 7.4% liquidation bonus on cbETH/VCHF 77% on Morpho, Base - clearance -20.1 pp; clearing size $25k. One liquidation in one transaction. https://underkeel.xyz/markets/cbeth-vchf-77.html

Raw data: data/exit-depth.json; how it is measured: Method; how to cite: Method.