{"id":54,"slug":"2026-08-07-tokenized-stock-peg-by-session","day":"2026-08-07","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-08-07","headline":"The typical tokenized stock holds within 48 bps of its underlying while the US market is open, widening to 251 bps during premarket.","bullets":["premarket: typical symbol median 69 bps, 95th pct 251 bps (11 symbols, 3630 ticks)","overnight: typical symbol median 35 bps, 95th pct 134 bps (11 symbols, 5280 ticks)","weekend: typical symbol median 54 bps, 95th pct 130 bps (11 symbols, 6336 ticks)","afterhours: typical symbol median 28 bps, 95th pct 63 bps (11 symbols, 2640 ticks)","open: typical symbol median 22 bps, 95th pct 48 bps (11 symbols, 4301 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":22188,"payload":{"sessions":[{"session":"premarket","symbols":11,"ticks":3630,"typical_p95_bps":250.9,"typical_median_bps":68.5,"widest":{"symbol":"CRCLx","n":330,"p95_bps":494.08000000000004,"median_bps":66.4}},{"session":"overnight","symbols":11,"ticks":5280,"typical_p95_bps":134.2,"typical_median_bps":34.8,"widest":{"symbol":"METAx","n":480,"p95_bps":174.6,"median_bps":28.7}},{"session":"weekend","symbols":11,"ticks":6336,"typical_p95_bps":129.9,"typical_median_bps":53.9,"widest":{"symbol":"CRCLx","n":576,"p95_bps":273.5,"median_bps":128.7}},{"session":"afterhours","symbols":11,"ticks":2640,"typical_p95_bps":62.5,"typical_median_bps":28.299999999999997,"widest":{"symbol":"AMZNx","n":240,"p95_bps":160.3,"median_bps":9.7}},{"session":"open","symbols":11,"ticks":4301,"typical_p95_bps":48.25,"typical_median_bps":22,"widest":{"symbol":"COINx","n":391,"p95_bps":94.6,"median_bps":49.6}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-08-07:\n\npremarket — typical 95th pct 251 bps (11 symbols)\novernight — typical 95th pct 134 bps (11 symbols)\nweekend — typical 95th pct 130 bps (11 symbols)\nafterhours — typical 95th pct 63 bps (11 symbols)\n\nArbitrage holds the peg while the market is open. It widens when it shuts.\nhttps://data.ochinimus.app/r/2026-08-07-tokenized-stock-peg-by-session","created_ts":1786086001}