# Tokenized stock premium: xStocks vs Ondo

URL: https://stackfi.io/tools/tokenized-stock-premium/
Snapshot: 2026-09-20T06:17:13.247Z
US market: closed-weekend
Source: jupiter-price-v3
Registry: 2026-09-12.v2

---

What this measures: the price a tokenized US stock trades at on-chain, against the
last reference price of the share it represents. The gap is the premium.

## The two issuers are not comparable on price

- **xStocks** (Backed Finance) trade on Solana DEXes. 14 of them clear the
  $50,000 pool-depth floor this snapshot, so the quoted price is a public, continuous
  mid you can read before you trade.
- **Ondo Global Markets** sells against its own quote, generated per request from its
  inventory with an undisclosed spread. Its on-chain pools are nearly empty, so a price
  shown for an Ondo token is the residue of an old trade rather than an offer. Those
  14 rows are published as "not a market price" rather than as a premium.

## Premium by token

| Underlying | Token | Issuer | Premium | Shares/token | On-chain liquidity | Price is a market price |
| --- | --- | --- | --- | --- | --- | --- |
| SPY | SPYx | xstocks | +0.023% | 1.003909 | $6.17M | yes |
| NVDA | NVDAx | xstocks | -0.954% | 1.000918 | $2.10M | yes |
| CRCL | CRCLx | xstocks | -1.873% | — | $2.06M | yes |
| QQQ | QQQx | xstocks | -0.414% | 1.002725 | $1.89M | yes |
| COIN | COINx | xstocks | -1.300% | — | $1.35M | yes |
| TSLA | TSLAx | xstocks | -0.312% | — | $1.25M | yes |
| HOOD | HOODx | xstocks | -1.961% | — | $1.14M | yes |
| MSTR | MSTRx | xstocks | +0.243% | — | $1.13M | yes |
| GLD | GLDx | xstocks | +0.402% | — | $1.11M | yes |
| AAPL | AAPLx | xstocks | -0.363% | 1.002664 | $596.9k | yes |
| MSFT | MSFTx | xstocks | +0.124% | 1.004582 | $577.0k | yes |
| GOOGL | GOOGLx | xstocks | +0.011% | 1.001927 | $422.7k | yes |
| META | METAx | xstocks | -0.188% | 1.002298 | $389.9k | yes |
| AMZN | AMZNx | xstocks | -0.389% | — | $237.3k | yes |
| SPY | SPYon | ondo | not a market price | 1.009473 | $9.2k | no |
| GLD | GLDon | ondo | not a market price | — | $1.7k | no |
| META | METAon | ondo | not a market price | 1.002279 | $1.0k | no |
| AAPL | AAPLon | ondo | not a market price | 1.003376 | $885 | no |
| NVDA | NVDAon | ondo | not a market price | 1.001715 | $491 | no |
| QQQ | QQQon | ondo | not a market price | 1.003353 | $259 | no |
| CRCL | CRCLon | ondo | not a market price | — | $207 | no |
| AMZN | AMZNon | ondo | not a market price | — | $183 | no |
| MSFT | MSFTon | ondo | not a market price | 1.005731 | $118 | no |
| GOOGL | GOOGLon | ondo | not a market price | 1.00246 | $36 | no |
| TSLA | TSLAon | ondo | not a market price | — | $0 | no |
| MSTR | MSTRon | ondo | not a market price | — | $0 | no |
| HOOD | HOODon | ondo | not a market price | — | $0 | no |
| COIN | COINon | ondo | not a market price | — | $0 | no |

## Summary

- Tokens tracked: 28 across 2 issuers
- Median premium among tokens with a real market: -0.337%
- Widest premium: GLDx at +0.402%
- Widest discount: HOODx at -1.961%
- Total on-chain liquidity behind these quotes: $20.43M

Method: on-chain price and the underlying share price both come from Jupiter price v3 in
a single call, so the two legs are quoted at the same instant. A token whose pool holds
less than $50,000 is reported as having no market price, because an order of any size
moves that pool by more than the premium being measured.