{"id":66,"slug":"2026-08-10-tokenized-stock-peg-by-session","day":"2026-08-10","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-08-10","headline":"The typical tokenized stock holds within 47 bps of its underlying while the US market is open, widening to 175 bps during premarket.","bullets":["premarket: typical symbol median 69 bps, 95th pct 175 bps (11 symbols, 3630 ticks)","overnight: typical symbol median 35 bps, 95th pct 91 bps (11 symbols, 5280 ticks)","weekend: typical symbol median 60 bps, 95th pct 80 bps (11 symbols, 6336 ticks)","afterhours: typical symbol median 19 bps, 95th pct 74 bps (11 symbols, 2640 ticks)","open: typical symbol median 21 bps, 95th pct 47 bps (11 symbols, 4301 ticks)","Figures are per-symbol percentiles aggregated across symbols, so one wide name cannot set the headline.","Outliers excluded from the typical figure: MSTRx (323 bps during weekend).","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":174.6,"typical_median_bps":68.6,"widest":{"symbol":"CRCLx","n":330,"p95_bps":494.08000000000004,"median_bps":70.8}},{"session":"overnight","symbols":11,"ticks":5280,"typical_p95_bps":91.4,"typical_median_bps":34.8,"widest":{"symbol":"CRCLx","n":480,"p95_bps":127.3,"median_bps":29.2}},{"session":"weekend","symbols":11,"ticks":6336,"typical_p95_bps":80.14999999999999,"typical_median_bps":60,"widest":{"symbol":"MSTRx","n":576,"p95_bps":323.1,"median_bps":169.1}},{"session":"afterhours","symbols":11,"ticks":2640,"typical_p95_bps":74.02,"typical_median_bps":18.6,"widest":{"symbol":"AMZNx","n":240,"p95_bps":160.3,"median_bps":10.1}},{"session":"open","symbols":11,"ticks":4301,"typical_p95_bps":47.349999999999994,"typical_median_bps":21.1,"widest":{"symbol":"COINx","n":391,"p95_bps":90.55000000000001,"median_bps":46}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-08-10:\n\npremarket — typical 95th pct 175 bps (11 symbols)\novernight — typical 95th pct 91 bps (11 symbols)\nweekend — typical 95th pct 80 bps (11 symbols)\nafterhours — typical 95th pct 74 bps (11 symbols)\n\nArbitrage holds the peg while the market is open. It widens when it shuts.\nhttps://data.ochinimus.app/r/2026-08-10-tokenized-stock-peg-by-session","created_ts":1786345201}