How the price is made

One formula. Published, versioned, linked to every pool.

What this is

There are 194 tokenized stocks deployed on Robinhood Chain and dozens of venues that will quote them. Nothing on the chain answers the first question anyone has: what is one of them actually worth right now. TAPE answers it with a single consolidated price per token, publishes the gap between the venues that disagree, and keeps a log of every time that gap got wide enough to matter.

Consolidated price v1

Which pools count

Every pool on the chain with the stock token on either side is collected. Four tests decide whether a pool counts towards the price:

It is a spot pair. The other side has to be a stablecoin or ETH. A meme paired against the stock token does not discover the stock's price — the indexer derives it from the stock side, so the same number reappears in every such pool and would fake agreement between venues that never quoted anything.
It holds at least $5,000 of liquidity.
It traded at least $1,000 in the last 24 hours.
It traded in the last hour. This is the one that matters most. A pool that has not traded since this morning still shows a price, and that stale price is what invents spreads which are not there.

Every excluded pool is still listed on the token page with the exact reason, because hiding them would make the price look better sourced than it is.

The formula

P  =  Σ ( pᵢ · Lᵢ )  /  Σ Lᵢ

pᵢ = the token's USD price in pool i
Lᵢ = that pool's liquidity in USD

Liquidity-weighted, not volume-weighted: a pool that can absorb size deserves more of the price than one that printed a single large trade. When only one pool qualifies the token is marked SINGLE VENUE and no spread is published, because a spread needs two opinions.

Note on breadth: GeckoTerminal returns up to 20 pools per token in one call, ordered by liquidity. For every token on this chain today that is all of them; if a token ever exceeds it, the thinnest pools are the ones we would not have counted anyway.

Spread and dislocation v1

spread_bps = 10,000 × (p_max − p_min) / P

< 30 bps      IN LINE
30 – 100 bps  WIDE
> 100 bps     DISLOCATED

A dislocation opens when the spread passes 100 bps on two consecutive polls and closes when it falls under 50 bps on two consecutive polls. The gap between the two thresholds is deliberate: a token sitting exactly on the line would otherwise fill the log with noise.

Depth ±1%

The USD you could trade before moving the consolidated price by one percent, summed over the qualifying pools. For a constant-product pool, a 1% move takes about 0.499% of one side's reserve, and one side is about half the quoted liquidity, so depth is approximated as liquidity × 0.0025. It is an estimate of the right order of magnitude, not a quote, and it ignores routing and fees.

Premium against the real equity

Comparing the onchain price to the price of the underlying share needs an equity data feed. When a free key is configured the site shows that premium; when it is not, the column is hidden entirely rather than filled with a guess. Everything else on this site is keyless.

How fresh the numbers are

GeckoTerminal allows 30 requests a minute and one token costs one request, so the whole registry cannot be read in one pass. Each run polls the deepest names — the ones carrying the volume and the alerts — plus whichever tokens have waited longest. The liquid end of the tape refreshes every five minutes; the thin end cycles through in roughly an hour and a half. Every number on the site is printed next to the time it was measured.

Last update: 06:41 UTC · tokens priced: 82 of 194

Data sources

Robinhood Stock Token registry (api.robinhood.com/rhj/assets) — the universe of tokens and their contracts
GeckoTerminal — pools, prices, liquidity and volume per venue
DefiLlama — chain TVL and DEX volume
Blockscout and the public RPC on chain id 4663 — contracts and balances

Limits

Prices are read from pools, so they lag the chain by the polling interval and by GeckoTerminal's own indexing delay.
A pool can qualify on liquidity and still be effectively untradeable if that liquidity is concentrated away from the current price.
Depth is an AMM approximation, not a quote from a router.
Tokens with no qualifying pool have no price here. We list them and say so.

What this is not

Not a broker and not a router. There is no trade button on this site.
Not investment advice. A spread is a subtraction.
Not affiliated with Robinhood Markets, Inc. The registry it publishes is public data.

Versioning

This page is the specification. Any change to a formula raises its version number and is dated here, so a number you saved last month can still be explained. Current: consolidated price v1, spread v1, depth v1.

open the tape · the same data as JSON