# Tokenized stock premium: xStocks vs Ondo

URL: https://stackfi.io/tools/tokenized-stock-premium/
Snapshot: 2026-11-12T18:56:17.092Z
US market: regular
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 | -0.194% | 1.005732 | $3.18M | yes |
| NVDA | NVDAx | xstocks | -0.717% | 1.000918 | $2.73M | yes |
| TSLA | TSLAx | xstocks | -0.419% | — | $1.78M | yes |
| QQQ | QQQx | xstocks | -0.434% | 1.002725 | $1.74M | yes |
| CRCL | CRCLx | xstocks | -0.541% | — | $1.35M | yes |
| MSTR | MSTRx | xstocks | -0.409% | — | $920.5k | yes |
| MSFT | MSFTx | xstocks | -0.576% | 1.004582 | $802.9k | yes |
| GOOGL | GOOGLx | xstocks | -0.311% | 1.001927 | $724.4k | yes |
| AAPL | AAPLx | xstocks | -0.134% | 1.003269 | $711.7k | yes |
| GLD | GLDx | xstocks | -0.157% | — | $575.9k | yes |
| META | METAx | xstocks | -0.266% | 1.002298 | $550.5k | yes |
| AMZN | AMZNx | xstocks | -0.134% | — | $374.2k | yes |
| COIN | COINx | xstocks | -0.474% | — | $289.8k | yes |
| HOOD | HOODx | xstocks | -0.736% | — | $178.3k | yes |
| NVDA | NVDAon | ondo | not a market price | 1.001715 | $2.5k | no |
| GLD | GLDon | ondo | not a market price | — | $1.3k | no |
| AAPL | AAPLon | ondo | not a market price | 1.003908 | $1.2k | no |
| SPY | SPYon | ondo | not a market price | 1.009473 | $367 | no |
| QQQ | QQQon | ondo | not a market price | 1.004082 | $259 | no |
| AMZN | AMZNon | ondo | not a market price | — | $183 | no |
| CRCL | CRCLon | ondo | not a market price | — | $176 | no |
| MSFT | MSFTon | ondo | not a market price | 1.005731 | $118 | no |
| META | METAon | ondo | not a market price | 1.002827 | $5 | no |
| TSLA | TSLAon | ondo | not a market price | — | $1 | 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 |
| GOOGL | GOOGLon | ondo | not a market price | 1.00246 | $0 | no |

## Summary

- Tokens tracked: 28 across 2 issuers
- Median premium among tokens with a real market: -0.414%
- Widest premium: AAPLx at -0.134%
- Widest discount: HOODx at -0.736%
- Total on-chain liquidity behind these quotes: $15.92M

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.