How liquidity is and is not used

Pool depth, a scan’s depth, and a small sell probe are different measurements and stay different.

What is measured

The column is reported DEX liquidity on the row. The scan may carry another figure from another time. A sell-route check, when present, is the impact of a stated size on a stated route. Bonk’s $50 probe is the worked example of a number that must not be scaled up in the reader’s head.

Exclusions

Centralised order books are excluded because they are not in the file. A blank is excluded from ‘zero liquidity’ claims. Wash volume is not separated because the file does not label it.

Freshness

The file is rebuilt about every 30 minutes. A page shows the file’s generated time. The prose of a research article is not rewritten on that cadence. A permission change is a review trigger. A price tick is not.