{"id":140,"slug":"2026-08-27-tokenized-stock-peg-by-session","day":"2026-08-27","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-08-27","headline":"The typical tokenized stock holds within 55 bps of its underlying while the US market is open, widening to 115 bps during premarket.","bullets":["premarket: typical symbol median 57 bps, 95th pct 115 bps (11 symbols, 3630 ticks)","afterhours: typical symbol median 30 bps, 95th pct 94 bps (11 symbols, 2640 ticks)","weekend: typical symbol median 34 bps, 95th pct 76 bps (11 symbols, 6336 ticks)","overnight: typical symbol median 57 bps, 95th pct 74 bps (11 symbols, 5280 ticks)","open: typical symbol median 21 bps, 95th pct 55 bps (11 symbols, 4290 ticks)","Figures are per-symbol percentiles aggregated across symbols, so one wide name cannot set the headline.","Outliers excluded from the typical figure: MSTRx (1066 bps during premarket); COINx (310 bps during weekend); MSTRx (552 bps during overnight).","Measured every 5 minutes against the real underlying trade price, not a quote midpoint."],"sample_n":22176,"payload":{"sessions":[{"session":"premarket","symbols":11,"ticks":3630,"typical_p95_bps":115.18000000000029,"typical_median_bps":56.8,"widest":{"symbol":"MSTRx","n":330,"p95_bps":1066.095,"median_bps":91.7}},{"session":"afterhours","symbols":11,"ticks":2640,"typical_p95_bps":93.63499999999995,"typical_median_bps":29.7,"widest":{"symbol":"MSTRx","n":240,"p95_bps":186.6,"median_bps":52.95}},{"session":"weekend","symbols":11,"ticks":6336,"typical_p95_bps":75.6,"typical_median_bps":33.95,"widest":{"symbol":"COINx","n":576,"p95_bps":310.325,"median_bps":78.6}},{"session":"overnight","symbols":11,"ticks":5280,"typical_p95_bps":74.4,"typical_median_bps":56.8,"widest":{"symbol":"MSTRx","n":480,"p95_bps":551.9449999999999,"median_bps":147.65}},{"session":"open","symbols":11,"ticks":4290,"typical_p95_bps":54.56499999999999,"typical_median_bps":21.35,"widest":{"symbol":"COINx","n":390,"p95_bps":92.07499999999997,"median_bps":49.349999999999994}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-08-27:\n\npremarket — typical 95th pct 115 bps (11 symbols)\nafterhours — typical 95th pct 94 bps (11 symbols)\nweekend — typical 95th pct 76 bps (11 symbols)\novernight — 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/2026-08-27-tokenized-stock-peg-by-session","created_ts":1787814002}