theperps.trade never treats every on-chain instrument that mentions a U.S. ticker as the stock. Official RHJ Stock Tokens, Coinbase B20 wrappers on Base, equity perpetual futures, and unofficial ticker copies have different mechanics and different cash-market bridges. Coinbase B20 is a second official wrapper venue — still not the stock, and never merged with RHJ into one inventory number.
Quick answer: Stock tokens can pull collateral, and perps hit cash only if someone hedges there; unofficial copies stay in Attention and never mix into rank. Combined rank is the max of Inventory (perp OI / cash ADV), New risk (ΔOI / cash volume), and Collateral (Δ official effective supply / ADV), as of the last labeled session. Hedge fraction is a scenario (0/25/50/100%), not a measured fill — if cash is closed or a feed is stubbed, say so, and blank is not zero.
Authenticate the contract before mapping any token to a U.S. ticker. RHJ Stock Tokens and Coinbase B20 wrappers are economic exposure, not shareholder rights — and they are not the same inventory. Instrument explainer: wiki.
Derivative contracts between the holder and Robinhood Europe (RHEU). Priced to the underlying without granting rights to it. Held as EU-app balances — not withdrawable, not on-chain. Robinhood renamed this first generation to Classic on 1 July 2026 and said the product continues in the Robinhood Europe app. Parallel to Asset Stock Tokens, not a predecessor that becomes one. Wiki: Classic.
ERC-20s issued by Robinhood Assets (Jersey) Limited. Economic exposure, not shareholder rights. Represented as 1:1 backed by underlying equity at a U.S. custody partner. Primary subscription is AP-only (BBVI at issuance). Effective share-equivalent = raw token balance × uiMultiplier (ERC-8056). Dividends are reinvested into additional underlying, raising the multiplier. Wiki: Asset / RHJ.
Strongest mechanical cash-market bridge: Δ underlying collateral ≈ Δ effective Stock Token supply. A secondary-market token buy does not automatically buy cash shares.
Tokenized stocks issued by Coinbase Onchain (ADGM / Reg S) as Base-native B20 contracts. Mapped to the cash underlier (AAPLc → AAPL, NVDAc → NVDA). Economic exposure only — no voting or shareholder claims. Circulating supply prefers on-chain totalSupplyUI() when the selector exists; the initial Coinbase set reverts it, so the live figure is totalSupply / 10^decimals (Asset tokens are 6–18 decimals; stocks report 8 — never decode as 18). Never multiply a UI figure again. A successful totalSupply of 0 is labeled live; a failed read stays unavailable and is excluded from Coinbase collateral. DEX mid is a Base pair whose baseToken is the Coinbase contract. Token basis = DEX mid / cash reference − 1. This venue is shown as its own ticket. Do not add Coinbase supply to RHJ supply. Wiki: Coinbase B20.
Linear derivatives, no expiry. Long + short = zero net contract supply. Cash impact only if someone hedges externally. Funding is peer-to-peer (positive = longs pay shorts). The Funding column is the primary perp's current rate. Arcus persistence is measured, not assumed: the eight newest hourly prints from GET /v1/fundingRates?market=…&limit=8 (the 8h hourly window) must share one strict sign, and each absolute rate must be at least 0.5 bp per hour — above the off-hours base near 0.05 bp. A missing or empty history stays unmeasured on that row (not persistent, not zero). The persistent mark does not enter combined rank. Lighter publishes a current rate only, so its persistence flag is unchanged. Lighter uses mark vs index; mark drives liquidations. Index sources can include Chainlink, Stork, Pyth. Venues in this monitor: Lighter and Arcus on / adjacent to Robinhood Chain. The oracle column is a keyless Chainlink AggregatorV3 equity reference (Ethereum 24/5 or Arbitrum NYSE session) pinned to a verified U.S. ticker. It is live only while updatedAt is inside that feed's heartbeat; an older round stays on the tape as stale with its age. Names with no verified feed, including HOOD, stay unavailable — not zero — and the column is excluded from combined rank. Token total-return feeds (Robinhood Chain and Base Coinbase, equity price × multiplier) are not used as this reference. Data Streams stays unconnected: this app does not sign requests or decode reports. Lighter index and Arcus oraclePrice are the venues' published numbers, not a Chainlink decode from this app. Wiki: equity perps.
Permissionless copies of names and symbols on Robinhood Chain and Base. DexScreener search covers the tape: this poll refreshes the watchlist, and a paced cache walks the rest without a wide eth_getLogs. A row is a pons launch only when V1/V2/legacy getLaunchedToken says so. Every other face-ticker is an UNOFFICIAL row (contract, chain, published DEX liquidity and volume, and the reason). Official RHJ and Coinbase B20 contracts are excluded. No create/redeem bridge. Only a factory-authenticated launch can enter Attention, and that bucket never enters a cash-hedge scenario. These rows never share official columns. Wiki: unofficial copies.
A different same-rights rail. It is not ingested and must not be conflated with RHJ tokens.
Combined transmission rank is the max of three visible buckets: Inventory (perp OI / cash ADV), New risk (ΔOI / cash $ volume — today's print when that timestamp is in the current session, the prior session's print labeled with that session before the open, or ADV when cash is closed), and Collateral (Δ official effective supply notional / ADV). Carry and Forced are shown but do not enter the default rank. The oracle reference sits beside token and perp prices and does not enter the rank. Attention is factory-authenticated token volume (EXAMPLE copies on the fixture tape). It is not the cash stock and cannot mix into those three. Missing or stubbed feeds are blank and excluded — not zero. An Arcus row whose mark is 0, NaN, or missing is unavailable: OI, ΔOI, and funding stay null and that row is not a Combined leg. A priced Arcus book with open interest 0 is still a measured zero. Forced uses liquidation USD only when the print is live, last-good, or fixture. Live Lighter USD is the sum of public trade rows with type=liquidation (usd_amount notional, long = forced sell, short = forced buy) from the Δ window. A stub or unmeasured 0 is not “no liquidations.”
Worked EXAMPLE — NVDA weekend inventory from the briefing.
Contract matches the RHJ registry. Economic exposure only — not shareholder rights. AP-only primary (BBVI at issuance).
Effective Stock Token supply rose. Strongest mechanical cash bridge is Δ underlying collateral ≈ Δ effective supply — a secondary DEX buy does not automatically buy cash shares.
Open interest rose enough to matter. Long+short still nets to zero contract supply — cash impact only if someone hedges externally.
Positive funding means longs pay shorts (peer-to-peer). Persistent rich funding raises the cost of carrying long inventory into the cash open.
Overnight/weekend/holiday: 24/7 perps and tokens keep trading while cash is closed. Inventory can gap into the next cash open.
On-chain prices moved without a matching cash print. Transmission is still hypothetical.
Fixture/EXAMPLE liquidation USD only. Not a live print from the public Lighter tape.