Bitget, in collaboration with Reality and Keyring, releases a research report, planning to launch the first on-chain stock basis trading strategy.

October 28 — Bitget, in collaboration with Reality and Keyring, has released a research report exploring the synergistic mechanisms of tokenized stocks, perpetual contracts, and decentralized lending, and evaluating the potential returns and risks of related strategies through simulated calculations. The report notes that the application of tokenized stocks is expanding from traditional stock trading to more scenarios such as collateralized lending, asset management, and systematic investment strategies.

The research is based on Reality's rToken, combined with stock perpetual contract hedging and on-chain lending mechanisms, to explore stock basis yield strategies. Historical simulation data shows that from December 15, 2025, to October 19, 2026, the strategy index achieved annualized net returns of approximately 7% and 4% in-sample and out-of-sample, respectively, with a gross funding rate premium of approximately 11%–14%. The report also notes that financing costs, trade execution fees, market liquidity, and risk management are key factors affecting the actual returns of the strategy.

It is reported that Bitget and Keyring plan to jointly develop a stock basis index and build an on-chain lending market based on Reality's rToken. Among them, Reality provides exposure to tokenized stock assets, while Keyring is responsible for developing the index methodology and building the related lending market. The index aims to capture funding rate and basis yield opportunities by combining rToken holdings with hedged positions in corresponding stock perpetual contracts, providing a new strategic pathway for the application of tokenized stocks in on-chain financial scenarios.