{"id":460,"slug":"2026-10-30-tokenized-stock-peg-by-session","day":"2026-10-30","project":"pegwatch","title":"Tokenized stock peg quality by market session — week to 2026-10-30","headline":"The typical tokenized stock holds within 58 bps of its underlying while the US market is open, widening to 150 bps during premarket.","bullets":["premarket: typical symbol median 46 bps, 95th pct 150 bps (12 symbols, 3960 ticks)","overnight: typical symbol median 43 bps, 95th pct 108 bps (12 symbols, 5760 ticks)","afterhours: typical symbol median 38 bps, 95th pct 81 bps (12 symbols, 2880 ticks)","weekend: typical symbol median 24 bps, 95th pct 60 bps (12 symbols, 6912 ticks)","open: typical symbol median 34 bps, 95th pct 58 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: COINx (687 bps during overnight); COINx (426 bps during afterhours); MSTRx (322 bps during weekend).","Measured every 5 minutes against the real underlying trade price, not a quote midpoint."],"sample_n":24192,"payload":{"sessions":[{"session":"premarket","symbols":12,"ticks":3960,"typical_p95_bps":150,"typical_median_bps":45.675,"widest":{"symbol":"GOOGLx","n":330,"p95_bps":337.05,"median_bps":47.2}},{"session":"overnight","symbols":12,"ticks":5760,"typical_p95_bps":107.52749999999997,"typical_median_bps":43.45,"widest":{"symbol":"COINx","n":480,"p95_bps":686.79,"median_bps":114.3}},{"session":"afterhours","symbols":12,"ticks":2880,"typical_p95_bps":80.51249999999999,"typical_median_bps":38.45,"widest":{"symbol":"COINx","n":240,"p95_bps":426,"median_bps":72.6}},{"session":"weekend","symbols":12,"ticks":6912,"typical_p95_bps":59.75,"typical_median_bps":24.15,"widest":{"symbol":"MSTRx","n":576,"p95_bps":321.975,"median_bps":104.8}},{"session":"open","symbols":12,"ticks":4680,"typical_p95_bps":57.71249999999992,"typical_median_bps":33.55,"widest":{"symbol":"MSFTx","n":390,"p95_bps":83.6,"median_bps":59.8}}],"method":"per-symbol percentile, median across symbols"},"x_text":"Tokenized stock peg quality, week to 2026-10-30:\n\npremarket — typical 95th pct 150 bps (12 symbols)\novernight — typical 95th pct 108 bps (12 symbols)\nafterhours — typical 95th pct 81 bps (12 symbols)\nweekend — typical 95th pct 60 bps (12 symbols)\n\nArbitrage holds the peg while the market is open. It widens when it shuts.\nhttps://data.ochinimus.app/r/2026-10-30-tokenized-stock-peg-by-session","created_ts":1793343601}