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Guide

How to compare tokenized stock prices with the real stock

Add the Tokenized stocks widget and every symbol gets one row with three prices: the cash stock from Yahoo Finance, the xStocks token from Backed and the Hyperliquid stock perp. Cashboard does the subtraction for you. Token premium is the xStock over the cash price, perp basis is the perp over the cash price, both in percent.

Step by step

  1. 1

    Start from the template

    Pick the Stocks & Cross-market template under New from template. The comparison arrives with NVDA, TSLA, AAPL and SPY switched on, so there is nothing to set up before the first read.

  2. 2

    Pick symbols

    Select the widget to show the symbol chips. There are eight US stocks to choose from, COIN and HOOD among them, and at least one has to stay on.

  3. 3

    Read a row

    Cash, xStock and HL perp are the three prices. A grey dot and n/a mean that venue has no price right now. SPY always shows n/a under HL perp. The widget looks for a trade.xyz perp with the same ticker, and trade.xyz lists its S&P 500 perp under a different name. Then come Token prem., Perp basis and Funding APR, with the perp's open interest printed under the symbol.

  4. 4

    Expect the weekend gap

    On Saturday and Sunday (UTC) the cash price sits at Friday's close while the token and the perp keep trading. The widget shows a Weekend gap badge and, under the funding figure, prints how far the xStock token sits from Friday's close. Nothing is broken. The stock market is closed and the token and the perp are not.

  5. 5

    Keep the stock next to it

    A Stocks widget beside the comparison adds each company's Yahoo Finance quote and a bar showing where the price sits in its 52-week range.

Tips

  • Yahoo quotes come from a free feed and can lag the exchange. A small premium during market hours is often just that lag.
  • A token premium can reflect thin on-chain liquidity or how the token is issued, and demand is only part of it. So a premium says the token costs more. It does not say why.
  • Robinhood's own stock tokens are a different product. This widget compares xStocks only. For the tokens on Robinhood Chain, add Stock tokens from the Robinhood group of the Add panel.

Widgets used

Terms in this guide

Frequently asked questions

Why does the xStocks token price differ from the stock price?

Because they trade in different places at different hours. The stock's regular session on Nasdaq or NYSE runs 9:30 to 16:00 New York time on weekdays, while the token trades on-chain around the clock and depends on its own liquidity. The gap is usually widest when the stock market is closed.

Is the Hyperliquid stock perp the same as owning the stock?

No. It is a perpetual future that follows the price through funding payments. You own no shares and collect no dividends. Cashboard shows its price, basis, funding APR and open interest, nothing more.

Last reviewed . Market data in Cashboard comes from the providers named on each widget and may be delayed. Nothing here is financial advice.