{"id":375,"slug":"2026-10-13-tokenized-stock-peg-by-session","day":"2026-10-13","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-10-13","headline":"The typical tokenized stock holds within 51 bps of its underlying while the US market is open, widening to 175 bps during premarket.","bullets":["premarket: typical symbol median 64 bps, 95th pct 175 bps (12 symbols, 3972 ticks)","overnight: typical symbol median 47 bps, 95th pct 92 bps (12 symbols, 5760 ticks)","weekend: typical symbol median 42 bps, 95th pct 67 bps (12 symbols, 6912 ticks)","afterhours: typical symbol median 33 bps, 95th pct 55 bps (12 symbols, 2880 ticks)","open: typical symbol median 24 bps, 95th pct 51 bps (12 symbols, 4680 ticks)","Figures are per-symbol percentiles aggregated across symbols, so one wide name cannot set the headline.","Outliers excluded from the typical figure: CRCLx (239 bps during weekend).","Measured every 5 minutes against the real underlying trade price, not a quote midpoint."],"sample_n":24204,"payload":{"sessions":[{"session":"premarket","symbols":12,"ticks":3972,"typical_p95_bps":174.92499999999998,"typical_median_bps":63.75,"widest":{"symbol":"CRCLx","n":331,"p95_bps":378.5,"median_bps":153.7}},{"session":"overnight","symbols":12,"ticks":5760,"typical_p95_bps":91.955,"typical_median_bps":46.55,"widest":{"symbol":"CRCLx","n":480,"p95_bps":272.74999999999994,"median_bps":121.85}},{"session":"weekend","symbols":12,"ticks":6912,"typical_p95_bps":66.6,"typical_median_bps":42.1,"widest":{"symbol":"CRCLx","n":576,"p95_bps":238.7,"median_bps":148.5}},{"session":"afterhours","symbols":12,"ticks":2880,"typical_p95_bps":54.8,"typical_median_bps":33.05,"widest":{"symbol":"MSTRx","n":240,"p95_bps":92.6749999999995,"median_bps":33.7}},{"session":"open","symbols":12,"ticks":4680,"typical_p95_bps":51.36499999999998,"typical_median_bps":23.975,"widest":{"symbol":"COINx","n":390,"p95_bps":90.81,"median_bps":48.4}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-10-13:\n\npremarket — typical 95th pct 175 bps (12 symbols)\novernight — typical 95th pct 92 bps (12 symbols)\nweekend — typical 95th pct 67 bps (12 symbols)\nafterhours — typical 95th pct 55 bps (12 symbols)\n\nArbitrage holds the peg while the market is open. It widens when it shuts.\nhttps://data.ochinimus.app/r/2026-10-13-tokenized-stock-peg-by-session","created_ts":1791874802}