{"id":170,"slug":"2026-09-02-tokenized-stock-peg-by-session","day":"2026-09-02","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-09-02","headline":"The typical tokenized stock holds within 52 bps of its underlying while the US market is open, widening to 140 bps during premarket.","bullets":["premarket: typical symbol median 40 bps, 95th pct 140 bps (12 symbols, 3828 ticks)","weekend: typical symbol median 60 bps, 95th pct 87 bps (12 symbols, 6912 ticks)","afterhours: typical symbol median 23 bps, 95th pct 79 bps (12 symbols, 2784 ticks)","overnight: typical symbol median 31 bps, 95th pct 78 bps (12 symbols, 5624 ticks)","open: typical symbol median 23 bps, 95th pct 52 bps (12 symbols, 4524 ticks)","Figures are per-symbol percentiles aggregated across symbols, so one wide name cannot set the headline.","Outliers excluded from the typical figure: MSTRx (378 bps during weekend).","Measured every 5 minutes against the real underlying trade price, not a quote midpoint."],"sample_n":23672,"payload":{"sessions":[{"session":"premarket","symbols":12,"ticks":3828,"typical_p95_bps":140.26500000000004,"typical_median_bps":39.7,"widest":{"symbol":"MSTRx","n":330,"p95_bps":392.36000000000007,"median_bps":218.2}},{"session":"weekend","symbols":12,"ticks":6912,"typical_p95_bps":86.5625,"typical_median_bps":60.45,"widest":{"symbol":"MSTRx","n":576,"p95_bps":378.25,"median_bps":131.6}},{"session":"afterhours","symbols":12,"ticks":2784,"typical_p95_bps":79.35999999999994,"typical_median_bps":23.35,"widest":{"symbol":"MSTRx","n":240,"p95_bps":144,"median_bps":35.3}},{"session":"overnight","symbols":12,"ticks":5624,"typical_p95_bps":78.25,"typical_median_bps":30.75,"widest":{"symbol":"MSTRx","n":484,"p95_bps":201.1,"median_bps":80.44999999999999}},{"session":"open","symbols":12,"ticks":4524,"typical_p95_bps":51.905,"typical_median_bps":23.275,"widest":{"symbol":"COINx","n":390,"p95_bps":90.81999999999998,"median_bps":50.55}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-09-02:\n\npremarket — typical 95th pct 140 bps (12 symbols)\nweekend — typical 95th pct 87 bps (12 symbols)\nafterhours — typical 95th pct 79 bps (12 symbols)\novernight — typical 95th pct 78 bps (12 symbols)\n\nArbitrage holds the peg while the market is open. It widens when it shuts.\nhttps://data.ochinimus.app/r/2026-09-02-tokenized-stock-peg-by-session","created_ts":1788332401}