{"id":150,"slug":"2026-08-29-tokenized-stock-peg-by-session","day":"2026-08-29","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-08-29","headline":"The typical tokenized stock holds within 52 bps of its underlying while the US market is open, widening to 109 bps during premarket.","bullets":["premarket: typical symbol median 46 bps, 95th pct 109 bps (12 symbols, 3696 ticks)","overnight: typical symbol median 36 bps, 95th pct 75 bps (12 symbols, 5360 ticks)","weekend: typical symbol median 37 bps, 95th pct 72 bps (12 symbols, 6372 ticks)","afterhours: typical symbol median 25 bps, 95th pct 70 bps (12 symbols, 2688 ticks)","open: typical symbol median 21 bps, 95th pct 52 bps (12 symbols, 4368 ticks)","Figures are per-symbol percentiles aggregated across symbols, so one wide name cannot set the headline.","Outliers excluded from the typical figure: MSTRx (392 bps during premarket); MSTRx (329 bps during overnight); COINx (310 bps during weekend).","Measured every 5 minutes against the real underlying trade price, not a quote midpoint."],"sample_n":22484,"payload":{"sessions":[{"session":"premarket","symbols":12,"ticks":3696,"typical_p95_bps":109.175,"typical_median_bps":46.35,"widest":{"symbol":"MSTRx","n":330,"p95_bps":392.36000000000007,"median_bps":121.9}},{"session":"overnight","symbols":12,"ticks":5360,"typical_p95_bps":74.65,"typical_median_bps":35.7,"widest":{"symbol":"MSTRx","n":481,"p95_bps":328.9,"median_bps":79.8}},{"session":"weekend","symbols":12,"ticks":6372,"typical_p95_bps":72.2125,"typical_median_bps":36.825,"widest":{"symbol":"COINx","n":576,"p95_bps":310.325,"median_bps":78.6}},{"session":"afterhours","symbols":12,"ticks":2688,"typical_p95_bps":70.19999999999999,"typical_median_bps":24.7,"widest":{"symbol":"MSTRx","n":240,"p95_bps":144,"median_bps":43.5}},{"session":"open","symbols":12,"ticks":4368,"typical_p95_bps":51.562499999999964,"typical_median_bps":20.65,"widest":{"symbol":"COINx","n":390,"p95_bps":95.00999999999999,"median_bps":51.9}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-08-29:\n\npremarket — typical 95th pct 109 bps (12 symbols)\novernight — typical 95th pct 75 bps (12 symbols)\nweekend — typical 95th pct 72 bps (12 symbols)\nafterhours — typical 95th pct 70 bps (12 symbols)\n\nArbitrage holds the peg while the market is open. It widens when it shuts.\nhttps://data.ochinimus.app/r/2026-08-29-tokenized-stock-peg-by-session","created_ts":1787986801}