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Tokenized stocks: stock vs xStock vs perp

Stocks now trade in three places at once: the exchange, on-chain as tokens and on perp DEXs. Compare all three for the tickers below and see the gap when markets are closed.

Tickers Cashboard compares across three venues
Ticker	Company	Sector	Token checked
NVDA	NVIDIA	Semiconductors	NVDAx (xStocks)
TSLA	Tesla	Automotive	TSLAx (xStocks)
AAPL	Apple	Consumer electronics	AAPLx (xStocks)
GOOGL	Alphabet	Internet services	GOOGLx (xStocks)
AMZN	Amazon	E-commerce and cloud	AMZNx (xStocks)
COIN	Coinbase	Crypto exchange	COINx (xStocks)
HOOD	Robinhood Markets	Brokerage	HOODx (xStocks)
SPY	SPDR S&P 500 ETF Trust	Index ETF	SPYx (xStocks)

Stock, token and perp

The cash stock trades on its exchange during market hours. Tokens track the same share on-chain around the clock: xStocks from Backed, and Robinhood’s Stock Tokens on Robinhood Chain, whose multiplier folds in reinvested dividends. A token’s premium or discount to the last close shows how on-chain buyers are pricing news.

Stock perps add leverage and funding. Builders list them on Hyperliquid through HIP-3, and Lighter runs them on its Robinhood Chain exchange. The basis to the stock tells you whether longs are paying up, and funding shows what holding costs. Over a weekend the token and the perp keep moving, and the gap to Friday’s close becomes the signal.

The Tokenized stocks widget lines up cash, xStock and Hyperliquid perp for NVDA, TSLA, AAPL, SPY, COIN, HOOD, GOOGL and AMZN. Two Robinhood widgets add the chain’s own tokens and Lighter perps. A missing price reads n/a, never a guess. Not investment advice.

Last reviewed October 25, 2026. Market data in Cashboard comes from the providers named on each widget and may be delayed. Nothing here is financial advice.