{"id":145,"slug":"2026-08-28-tokenized-stock-peg-by-session","day":"2026-08-28","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-08-28","headline":"The typical tokenized stock holds within 54 bps of its underlying while the US market is open, widening to 102 bps during premarket.","bullets":["premarket: typical symbol median 52 bps, 95th pct 102 bps (11 symbols, 3630 ticks)","weekend: typical symbol median 34 bps, 95th pct 76 bps (11 symbols, 6336 ticks)","overnight: typical symbol median 51 bps, 95th pct 74 bps (11 symbols, 5291 ticks)","afterhours: typical symbol median 30 bps, 95th pct 73 bps (11 symbols, 2640 ticks)","open: typical symbol median 21 bps, 95th pct 54 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 (1008 bps during premarket); COINx (310 bps during weekend); MSTRx (346 bps during overnight).","Measured every 5 minutes against the real underlying trade price, not a quote midpoint."],"sample_n":22196,"payload":{"sessions":[{"session":"premarket","symbols":11,"ticks":3630,"typical_p95_bps":102.1,"typical_median_bps":52.1,"widest":{"symbol":"MSTRx","n":330,"p95_bps":1008.195,"median_bps":111.6}},{"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":5291,"typical_p95_bps":74.4,"typical_median_bps":51.3,"widest":{"symbol":"MSTRx","n":481,"p95_bps":346,"median_bps":105.8}},{"session":"afterhours","symbols":11,"ticks":2640,"typical_p95_bps":72.6,"typical_median_bps":29.7,"widest":{"symbol":"MSTRx","n":240,"p95_bps":186.6,"median_bps":56.5}},{"session":"open","symbols":11,"ticks":4290,"typical_p95_bps":53.68499999999997,"typical_median_bps":20.9,"widest":{"symbol":"COINx","n":390,"p95_bps":92.07499999999997,"median_bps":50.9}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-08-28:\n\npremarket — typical 95th pct 102 bps (11 symbols)\nweekend — typical 95th pct 76 bps (11 symbols)\novernight — typical 95th pct 74 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/2026-08-28-tokenized-stock-peg-by-session","created_ts":1787900401}