# Tokenized equity basis: on-chain spot vs perpetual

URL: https://stackfi.io/tools/tokenized-equity-basis/
Snapshot: 2026-10-29T06:14:28.852Z
Spot snapshot: 2026-10-29T02:27:21.240Z
US market: closed-overnight
Sources: perp hyperliquid:xyz; spot jupiter-price-v3 via tokenized-stocks.json

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What this measures: for each name available both as a tokenized share on-chain and as a
perpetual future, the gap between the two prices (basis), what is left after crossing
both legs (entry edge), and the funding that decides whether holding the position pays
or costs. Funding statistics are over the last 7 days.

| Underlying | Spot token | Spot | Spot premium | Perp mark | Basis | Entry edge | Funding now (APR) | Funding median (APR) | Hours negative |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| GOOGL | GOOGLx | $293.33 | -2.79% | $293.85 | +0.18% | +2.97% | +29.3% | +5.5% | 10/168 |
| META | METAx | $616.55 | +0.05% | $617.94 | +0.23% | +0.18% | +13.0% | +8.5% | 10/168 |
| NVDA | NVDAx | $212.99 | -0.18% | $213.75 | +0.35% | +0.54% | +5.5% | +5.5% | 11/168 |
| AAPL | AAPLx | $345.74 | +0.21% | $346.79 | +0.30% | +0.10% | +0.6% | +3.5% | 62/168 |
| CRCL | CRCLx | $79.09 | -1.38% | $79.49 | +0.50% | +1.88% | +5.9% | +5.5% | 20/168 |
| TSLA | TSLAx | $398.52 | -1.01% | $401.00 | +0.62% | +1.64% | +5.5% | +5.5% | 19/168 |
| MSFT | MSFTx | $547.08 | +0.63% | $552.88 | +1.06% | +0.43% | +5.5% | +5.5% | 25/168 |
| MSTR | MSTRx | $140.35 | -3.58% | $141.04 | +0.49% | +4.07% | +11.2% | +8.1% | 17/168 |
| AMZN | AMZNx | $252.06 | -1.03% | $252.87 | +0.32% | +1.35% | +5.5% | +5.5% | 10/168 |
| HOOD | HOODx | $89.11 | -2.52% | $89.63 | +0.58% | +3.11% | +5.5% | +6.1% | 18/168 |
| COIN | COINx | $156.72 | -3.51% | $157.57 | +0.54% | +4.05% | +11.7% | +5.5% | 19/168 |

Reading it: a positive basis means the perp trades above the tokenized share. Entry edge
is what survives the spread on both legs, so it is the number that decides whether the
trade exists at all. Funding is annualised; a median that is positive and a negative-hours
count that is small means the short-perp side has been paid to wait.