{"id":23,"slug":"2026-07-29-tokenized-stock-peg-by-session","day":"2026-07-29","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-07-29","headline":"The typical tokenized stock holds within 50 bps of its underlying while the US market is open, widening to 194 bps during premarket.","bullets":["premarket: typical symbol median 57 bps, 95th pct 194 bps (11 symbols, 3630 ticks)","overnight: typical symbol median 54 bps, 95th pct 153 bps (11 symbols, 5291 ticks)","weekend: typical symbol median 58 bps, 95th pct 121 bps (11 symbols, 6347 ticks)","afterhours: typical symbol median 30 bps, 95th pct 73 bps (11 symbols, 2640 ticks)","open: typical symbol median 26 bps, 95th pct 50 bps (11 symbols, 4290 ticks)","Figures are per-symbol percentiles aggregated across symbols, so one wide name cannot set the headline.","Measured every 5 minutes against the real underlying trade price, not a quote midpoint."],"sample_n":22198,"payload":{"sessions":[{"session":"premarket","symbols":11,"ticks":3630,"typical_p95_bps":193.9,"typical_median_bps":56.8,"widest":{"symbol":"CRCLx","n":330,"p95_bps":382.3,"median_bps":199.64999999999998}},{"session":"overnight","symbols":11,"ticks":5291,"typical_p95_bps":153.1,"typical_median_bps":53.7,"widest":{"symbol":"CRCLx","n":481,"p95_bps":383.9,"median_bps":113.4}},{"session":"weekend","symbols":11,"ticks":6347,"typical_p95_bps":121.3,"typical_median_bps":57.6,"widest":{"symbol":"MSTRx","n":577,"p95_bps":312.1,"median_bps":171.3}},{"session":"afterhours","symbols":11,"ticks":2640,"typical_p95_bps":72.63499999999995,"typical_median_bps":29.5,"widest":{"symbol":"MSTRx","n":240,"p95_bps":179.35499999999863,"median_bps":21.8}},{"session":"open","symbols":11,"ticks":4290,"typical_p95_bps":49.6,"typical_median_bps":26.35,"widest":{"symbol":"COINx","n":390,"p95_bps":91.94499999999991,"median_bps":46.75}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-07-29:\n\npremarket — typical 95th pct 194 bps (11 symbols)\novernight — typical 95th pct 153 bps (11 symbols)\nweekend — typical 95th pct 121 bps (11 symbols)\nafterhours — typical 95th pct 73 bps (11 symbols)\n\nArbitrage holds the peg while the market is open. It widens when it shuts.\nhttps://data.ochinimus.app/r/2026-07-29-tokenized-stock-peg-by-session","created_ts":1785308401}