Color Contrast Checker takes a text colour and a background colour and tells you the WCAG 2.1 contrast ratio and whether it passes at AA and AAA, for normal text, large text, and user-interface elements. It is the check accessibility audits run.
The calculation is done in the page. Nothing you enter is uploaded.
AA needs 4.5:1 for normal text and 3:1 for large text; AAA needs 7:1 and 4.5:1. Borders, icons, and focus rings need 3:1.
About 24px, or 19px and bold, and above.
It is compared as if fully opaque. Flatten it against the real background first for an exact figure.
No. Font weight, size, spacing, and the surrounding design matter too, but contrast is the measurable baseline.