Tokenized stock basis

How far each xStock token trades from the share it is backed by

Tokenized stock basis

How far each xStock token trades from the ordinary share it is backed by.

A Backed.fi xStock is a token that should be worth exactly one ordinary share. On Solana it is priced by an AMM pool; the share is priced by the market it actually trades on. The difference between the two is the basis, and it is what the spot leg of a delta-neutral xStock position really costs: the perps quote off the ordinary share (marks sit 0.10–0.15% from it), so buying the token at a 1% discount is a rebate if the gap closes before you exit and a loss if it widens. Negative = the token trades below the share. Live xStocks funding →

Tickers with samples172over 90 days
Readable pools29deep enough to trust
Median gap0.66%among those

Basis by ticker

150 shown · deepest pools first
29 of 150 readable
TickerBasis now90d shapeAvgRangePoolSamplesQuote
SPYSPY
-0.42%
+0.06%-2.2% … +3.8%$3.9M6336live
NVDNVDA
-0.82%
+0.49%-2.2% … +10.1%$3.1M6336live
SPCSPCX
-1.69%
+0.31%-7.6% … +6.0%$2.5M6129live
QQQQQQ
-0.24%
+0.09%-1.6% … +2.4%$1.8M6336live
CRCCRCL
-0.92%
+0.50%-3.7% … +9.9%$1.6M6129live
TSLTSLA
-1.06%
+0.03%-2.5% … +4.2%$1.4M6336live
-0.63%
-0.13%-4.0% … +4.1%$890K6336live
MSTMSTR
-0.34%
+0.71%-4.3% … +15.8%$810K6336live
GLDGLD
-0.54%
-0.24%-8.1% … +7.8%$775K6129live
MSFMSFT
-0.43%
+0.24%-2.8% … +6.1%$753K6336live
AAPAAPL
+0.15%
+0.09%-2.2% … +4.1%$711K6336live
METMETA
-0.39%
+0.20%-3.0% … +6.0%$574K6336live
COICOIN
-1.13%
+0.15%-4.3% … +7.3%$512K6336live
GMEGME
-0.28%
+0.04%-3.2% … +17.5%$495K6129live
MCDMCD
-1.04%
-0.12%-5.5% … +13.1%$388K6129live
AMZAMZN
-0.17%
-0.08%-2.8% … +1.8%$235K6336live
PLTPLTR
+0.15%
+0.25%-4.7% … +15.0%$211K6128live
HOOHOOD
-0.97%
+0.49%-4.5% … +10.2%$172K6336live
STRSTRC
-0.40%
+0.05%-1.6% … +2.8%$154K6129live
-0.27%
-0.11%-2.0% … +3.0%$128K6129live
KOKO
+0.04%
-0.28%-4.9% … +17.7%$98K6129live
AVGAVGO
-1.10%
+0.34%-6.9% … +5.0%$88K6336live
TQQTQQQ
-0.66%
+0.58%-10.8% … +9.4%$47K6130live
INTINTC
-1.86%
+0.20%-6.1% … +7.4%$38K6129live
TSMTSM
-1.49%
-0.91%-15.4% … +19.9%$37K4835live
DFDDFDV
+1.52%
+0.00%-12.0% … +20.0%$25K5945live
XOMXOM
-1.08%
-1.07%-5.6% … +3.1%$18K6124live
AMDAMD
-1.24%
-0.13%-17.8% … +18.4%$14K6124live
VIDVIDA
-1.28%
+0.00%-19.2% … +19.9%$12K4050live
UNHUNH
-1.75%
-0.34%-3.6% … +3.5%$8K6119thin pool
SNDSNDK
-2.47%
-0.60%-16.0% … +19.9%$7K5469thin pool
WMTWMT
+1.25%
+0.35%-12.3% … +10.2%$7K6124thin pool
BMNBMNR
-0.35%
+1.76%-19.9% … +19.8%$6K5892thin pool
LLYLLY
+0.35%
-0.33%-6.0% … +4.0%$6K6124thin pool
NFLNFLX
-0.22%
+0.41%-11.2% … +17.3%$5K6121thin pool
+9.16%
-0.47%-19.3% … +17.7%$4K5951thin pool
PEPPEP
-0.70%
-0.19%-3.5% … +3.2%$4K5990thin pool
RIORIOT
-0.26%
+1.88%-16.7% … +19.9%$4K5413thin pool
CVXCVX
+2.31%
-0.39%-4.7% … +4.7%$3K6054thin pool
ORCORCL
-0.03%
+0.54%-5.3% … +7.9%$3K6123thin pool
SKHSKHY
-0.21%
+4.22%-13.3% … +17.2%$2K5885thin pool
PGPG
-1.92%
+0.18%-2.1% … +2.8%$2K5764thin pool
IBMIBM
+13.76%
-3.46%-19.8% … +19.9%$2K5190thin pool
AZNAZN
+5.67%
-0.34%-4.3% … +7.5%$2K5902thin pool
NVONVO
-3.20%
-0.15%-13.4% … +18.7%$2K5928thin pool
MRVMRVL
-0.45%
+0.29%-10.1% … +13.4%$1K6098thin pool
VTIVTI
-0.16%
+1.46%-9.7% … +20.0%$9494915thin pool
JPMJPM
-1.09%
+0.65%-5.3% … +17.3%$9456105thin pool
PFEPFE
-6.75%
-1.62%-13.0% … +8.4%$9435400thin pool
LINLIN
-2.97%
-1.76%-11.4% … +5.1%$9164942thin pool
MUMU
+0.62%
-0.22%-13.2% … +18.7%$7776022thin pool
BACBAC
-1.22%
+4.04%-16.8% … +17.3%$7614961thin pool
UBEUBER
+2.95%
-0.65%-6.6% … +12.7%$7525221thin pool
AMBAMBR
-6.50%
+2.25%-19.8% … +20.0%$5504902thin pool
SLVSLV
+1.12%
+1.03%-4.8% … +19.7%$5332962thin pool
ABTABT
-2.78%
+0.03%-4.2% … +4.2%$4396336thin pool
VV
-1.05%
-0.57%-11.8% … +14.0%$4275989thin pool
CSCCSCO
+5.13%
+3.69%-4.2% … +10.0%$3065252thin pool
MAMA
-1.07%
+1.07%-3.1% … +16.5%$2784384thin pool
XOPXOP
-11.67%
-2.44%-16.0% … +1.1%$223905thin pool
HONHON
-3.43%
+5.21%-4.2% … +18.1%$2053417thin pool
GSGS
-0.70%
+0.46%-6.4% … +11.2%$1672378thin pool
IWMIWM
+6.16%
+1.13%-4.5% … +7.4%$1524205thin pool
VTVT
+0.83%
-0.64%-3.9% … +2.0%$1414161thin pool
ACNACN
-13.45%
+4.35%-14.1% … +20.0%$1315935thin pool
PMPM
-2.49%
+0.24%-5.3% … +7.0%$1294290thin pool
MRKMRK
-0.75%
+2.39%-11.7% … +8.2%$1234037thin pool
CRMCRM
-0.87%
+1.76%-12.9% … +19.5%$1223060thin pool
XLEXLE
+0.20%
-1.93%-15.3% … +2.9%$1104723thin pool
TMOTMO
+0.51%
-8.70%-20.0% … +1.0%$853522thin pool
ASMASML
+5.06%
+5.57%-4.2% … +20.0%$774078thin pool
ASTASTS
-8.09%
+2.37%-10.4% … +19.4%$661249thin pool
SBESBET
-0.63%
-0.94%-20.0% … +14.0%$522872thin pool
CRWCRWD
-2.18%
+5.46%-3.7% … +18.7%$49461thin pool
APPAPP
+4.65%
+1.51%-1.5% … +8.7%$341037thin pool
URAURA
+2.25%
+2.71%-2.5% … +11.3%$313350thin pool
JNJJNJ
-0.14%
-2.93%-14.4% … +11.6%$194535thin pool
IJRIJR
+0.90%
-1.91%-5.6% … +2.3%$194637thin pool
BSPBSP
+1.35%
-5.47%-20.0% … +19.4%$164482thin pool
ABBABBV
+2.35%
+10.59%-1.2% … +19.0%$34270thin pool
TBLTBLL
-0.22%
-3.18%-11.7% … +0.7%$31150thin pool
FF
+0.78%
+1.59%-1.2% … +13.9%$2546thin pool
RBLRBLX
-13.73%
-3.62%-17.8% … +7.1%$23571thin pool
VUGVUG
+0.04%
+0.32%-0.2% … +0.7%$1182frozen
AMAAMAT
-13.46%—-13.46%-13.5% … -13.5%$1117frozen
UUUUUUU
+5.66%
+0.98%-2.7% … +6.6%$1417thin pool
ADBADBE
+3.43%
+0.08%-7.5% … +6.7%$13829thin pool
CEGCEG
+4.10%
-0.43%-8.2% … +10.3%$13293thin pool
MRNMRNA
-12.07%
-8.07%-18.8% … +5.0%$01279thin pool
SOXSOXL
+0.71%
-1.37%-11.5% … +13.7%$0661thin pool
BTGBTGO
+1.44%
+8.08%-4.3% … +16.0%$0421thin pool
MOOMOO
+0.40%
-0.92%-2.7% … +0.7%$0260thin pool
GLXGLXY
+2.62%
+1.59%-8.0% … +10.3%$0786thin pool
IEMIEMG
+0.07%
+0.24%-1.3% … +1.3%$0208thin pool
SMHSMH
+0.55%
-1.90%-11.2% … +5.0%$04488thin pool
COPCOPX
-0.99%
+0.46%-3.1% … +2.8%$0899thin pool
MARMARA
-4.52%
+3.52%-14.4% … +12.1%$0467thin pool
DHRDHR
+1.18%
-0.48%-4.8% … +1.4%$0690thin pool
PYPPYPL
-0.67%
-1.48%-5.6% … +1.9%$02236thin pool
OPEOPEN
-5.17%
+3.19%-10.7% … +14.7%$01196thin pool
SATSATA
+0.13%
-0.11%-1.2% … +1.6%$01132thin pool
USAUSAR
+3.83%
+1.26%-16.5% … +14.1%$04482thin pool
IREIREN
-1.03%
-1.96%-6.7% … +3.8%$0552thin pool
AAOAAOI
-0.53%
+2.57%-4.1% … +10.8%$0775thin pool
ADSADSK
+1.97%
+0.25%-2.5% … +3.0%$0253thin pool
ALAALAB
+0.74%
+0.79%-3.8% … +4.0%$0434thin pool
ALLALL
+1.00%—+1.27%-0.7% … +1.8%$0122thin pool
ALNALNY
+0.57%—+0.61%+0.6% … +1.3%$096frozen
APLAPLD
+18.28%
+7.32%-0.9% … +19.8%$0760thin pool
ARMARM
-2.12%
+0.59%-7.0% … +4.7%$0519thin pool
BABA
+0.30%
+0.27%-3.0% … +5.3%$0797thin pool
BEBE
-0.22%
+0.02%-19.5% … +9.5%$01792thin pool
BMYBMY
+2.00%
+1.01%-1.2% … +3.0%$0487thin pool
BOTBOT
+2.18%
+1.63%-1.2% … +8.8%$0236thin pool
BTBBTBT
-4.21%
-0.30%-10.3% … +6.2%$01647thin pool
BXBX
+1.31%—+0.08%-0.6% … +1.6%$096frozen
CBRCBRS
+11.55%
-7.80%-19.8% … +12.9%$01797thin pool
CIECIEN
-7.39%
-2.24%-7.9% … +0.4%$0193thin pool
CMGCMG
-1.01%
-0.09%-1.2% … +3.1%$0281thin pool
CORCORZ
+19.61%
+10.34%-7.0% … +20.0%$04141thin pool
CRWCRWV
-6.67%
+1.01%-18.4% … +19.9%$01831thin pool
DEDE
-3.17%—-0.42%-3.3% … +0.3%$095frozen
DELDELL
+2.73%
-0.67%-4.9% … +3.9%$0223thin pool
ELVELV
-1.23%—+0.92%-2.1% … +3.1%$0180thin pool
ENHENHA
+8.24%—+7.30%+3.5% … +8.9%$0107frozen
FANFANG
-1.85%—-0.95%-1.9% … +0.3%$096frozen
GDGD
+2.68%—+1.46%+0.2% … +2.7%$096frozen
GDXGDX
-1.34%
-0.43%-2.5% … +1.0%$0285thin pool
GLWGLW
+3.68%—+1.75%-0.4% … +4.5%$096frozen
HIMHIMS
+1.02%
-0.25%-3.6% … +2.2%$0281thin pool
HPEHPE
-4.11%
-3.16%-11.3% … +7.8%$01169thin pool
HUTHUT
+19.49%
+5.02%-2.7% … +20.0%$01129frozen
ITAITA
+0.80%
-0.24%-2.0% … +4.5%$0661thin pool
JMKJMKE
+1.47%
-0.70%-12.3% … +10.1%$01656thin pool
JPSJPST
-0.51%—-0.49%-0.5% … -0.5%$033frozen
LMTLMT
+0.30%
+0.64%-0.8% … +3.5%$0332thin pool
LOWLOW
+0.85%
+0.39%-0.1% … +1.2%$0113frozen
MMMMMM
-0.93%
+0.06%-1.3% … +0.9%$0191thin pool
MPWMPWR
+1.72%—+1.36%-0.1% … +6.4%$0110frozen
MSMS
+0.96%—+1.08%+1.0% … +1.6%$096frozen
MSCMSCI
-0.33%
-0.23%-0.7% … -0.1%$0191thin pool
NBINBIS
+3.78%
-1.66%-19.9% … +17.5%$01912thin pool
NEENEE
+1.84%
+1.73%+1.2% … +2.0%$095frozen
NETNET
+3.62%
+1.46%-0.7% … +6.7%$0281thin pool
NLRNLR
+0.52%
+0.56%-0.9% … +3.3%$0232thin pool
NOCNOC
-0.52%
-0.42%-0.9% … +0.2%$089frozen
NOWNOW
-2.92%
-0.91%-3.2% … +1.9%$0277thin pool
OKLOKLO
+19.88%
+4.95%-11.0% … +20.0%$02907thin pool
ONDONDS
-1.32%
-0.37%-5.4% … +4.6%$0613thin pool
OTIOTIS
-1.16%
+0.21%-1.2% … +0.9%$096frozen

The chart column is the bucketed average over the window, drawn from the same samples as the table. A break in a line means no sample was recorded for that stretch.

What this number is

Two prices, kept as they stood

Every 15 minutes the xStocks dashboard records, for each token, the price the Solana pool quotes and the price of the ordinary share from the oracle feed, and stores the gap between them: (token − share) ÷ share. Negative means the token is cheaper than the share it represents. Nothing about it is modelled or smoothed — it is the two prices as they stood, kept for 90 days.

Why the biggest numbers are the least interesting

An AMM price only moves when somebody swaps. A pool nobody touches keeps printing the price of the last trade, which drifts further from the real share by the hour and reads as a huge discount. On two snapshots three hours apart, 36 of 66 tokens had not moved a single cent — and those pools held a median of $382, against $111,267 for the ones that traded. Every wide gap came from that half: BAC at −15.5% on a $797 pool, ABBV at +14.2% on a pool holding one dollar. That is why rows are marked thin pool (under $10K) or frozen, and why deepest pools are listed first.

Ticker caveats

The token list comes from Backed.fi and Jupiter, not from a hardcoded ticker list, and the price is cross-checked against the share: several crypto assets share a ticker with a listed company — IP is Story, DASH is Dash — so a name match alone would mix a $5 token into a page about International Paper. Quotes beyond ±20% are not recorded at all: past that it is a broken pool quote rather than a basis. Commodity-backed tokens (XAU, GLD) are not stocks and are not here.

The open question

Whether a discount converges before you exit. That is exactly what this series was started to answer, and it is why the history matters more than today's number — entering at a discount is a rebate if it closes and a loss if it widens.