链上美股盘口
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链上美股盘口 · 美股开盘前的领先盘口

美股一收盘，链上的永续合约和代币化股票还在 24/7 交易——它们的价格，其实是市场对下一次开盘的实时投票。这里把 73 只美股的链上行情摊开：永续合约相对真股的溢价、每小时资金费率、和现货价的跨场价差、盘口点差、持仓量，外加 SpaceX、OpenAI、Anthropic 这些没上市公司的链上隐含估值。数据直连 Hyperliquid 与 Jupiter，每 5 分钟刷新。

盘前交易距下次开盘 2 小时 3 分 · 美股没开，但链上还在定价——这段时间的价差最值得看
覆盖美股
73
永续 24h 成交额
$2.59B
未平仓 OI
$2.38B
全市场加权溢价
+0.02%
平均资金费(年化)
+23.8%
更新于
1 分钟前
🔺 永续溢价最高
+0.15%
Arm（ARM）链上买盘把价格顶到真股之上
🔻 折价最深
-0.09%
Microsoft（MSFT）链上比真股更便宜
💸 资金费最贵(年化)
+42%
Coinbase · 做多每小时倒贴空头
⚖️ 跨场价差最大
+0.52%
Robinhood · 永续与现货定价分歧，潜在套利
Pre-IPO 私司 · 市场隐含估值看全部与风险提示 →
SpaceX
市场隐含估值$2.42T
永续溢价-12.72%
资金费(年化)0.0%
OpenAI
市场隐含估值$1.34T
永续溢价-0.42%
资金费(年化)0.0%
Anthropic
市场隐含估值$1.62T
永续溢价+0.02%
资金费(年化)0.0%
这张表怎么读：「永续溢价」是合约价相对真实股价的偏离（正=链上买盘顶高、负=折价）；「跨场价差」是永续溢价减现货溢价，揭示链上两个市场对同一只股票的定价分歧，差得越大套利空间越大；「资金费(年化)」标「多付」表示做多的人持续向做空方付钱，是持有永续的隐性成本；「点差」按盘口冲击成本估算，越宽说明流动性越差、买卖越吃亏。点标的名进详情页看 7 天溢价/资金费曲线。现在美股没开，链上价格就是对下次开盘的预判，这时候的偏离最有看头。
快速看：
标的 真实股价 永续价 永续溢价 现货溢价 跨场价差 资金费(年化) 走势·7d溢价 盘口点差 24h涨跌 24h成交额 未平仓OI
SNDKSanDisk $1,289.2 $1,290 +0.081% — — +5.5% 多付 0.008% +5.85% $479.6M $141.3M
SPCXSpaceX(trade.xyz) $116.37 $116.34 -0.026% — — -2.6% 空付 0.017% +4.80% $434.7M $206.0M
SP500指数标普500 $7,726.9 $7,724.7 -0.029% — — -0.6% 空付 0.001% -0.09% $331.8M $464.5M
MUMicron $894.99 $894.99 +0.031% — — +5.5% 多付 0.014% +5.28% $324.0M $200.6M
XYZ100指数纳斯达克100 $29,530 $29,541 +0.037% — — +5.5% 多付 0.007% +0.62% $291.7M $208.2M
SKHYSKHY $142.29 $142.2 -0.063% — — -36.5% 空付 0.023% +0.93% $144.4M $115.5M
INTCIntel $101.22 $101.27 +0.083% — — +10.5% 多付 0.044% +1.64% $105.7M $59.9M
NVDANVIDIA $219.93 $220.03 +0.047% +0.12% -0.07% +5.5% 多付 0.025% -0.34% $60.4M $164.9M
GOOGLAlphabet $358.62 $358.8 +0.059% +0.16% -0.10% +13.4% 多付 0.024% -1.57% $45.0M $121.8M
CRCLCircle $64.395 $64.443 +0.099% +0.20% -0.10% +20.2% 多付 0.003% +3.97% $28.4M $47.5M
METAMeta $590.01 $590.25 +0.051% — — +6.4% 多付 — 0.032% -0.33% $28.4M $45.6M
MSFTMicrosoft $498.24 $497.84 -0.087% -0.03% -0.06% -15.0% 空付 0.033% +2.81% $27.0M $54.3M
AMDAMD $495.24 $495.36 +0.088% — — +5.5% 多付 0.025% +3.69% $23.6M $14.2M
AAPLApple $311.66 $311.62 -0.019% +0.07% -0.09% +5.5% 多付 0.017% -0.90% $23.3M $36.7M
MRVLMarvell $216.45 $216.58 +0.097% — — +19.2% 多付 — 0.027% +4.03% $21.3M $30.1M
NBISNebius $198.38 $198.48 +0.135% — — +5.5% 多付 0.029% -6.59% $18.8M $29.8M
CXMTCXMT $7.35 $7.35 -0.059% — — +64.9% 多付 — 0.158% +0.55% $17.1M $66.3M
TSLATesla $321.74 $321.8 +0.015% +0.09% -0.07% +5.5% 多付 — 0.029% +0.03% $16.5M $36.8M
ORCLOracle $144.78 $144.8 +0.006% — — +5.5% 多付 0.037% +2.96% $13.8M $48.7M
MINIMAXMINIMAX $42.488 $42.698 +0.623% — — +164.6% 多付 — 0.358% +14.53% $13.7M $11.9M
UNITREEUNITREE $88.22 $87.711 -0.818% — — -2.7% 空付 — 0.451% +17.85% $11.7M $6.7M
CBRSCoreCard $214.63 $214.63 +0.010% — — -9.4% 空付 — 0.058% +1.47% $11.5M $47.4M
AMZNAmazon $273.67 $273.6 -0.035% +0.27% -0.31% +5.5% 多付 — 0.031% -0.45% $10.3M $27.3M
ZHIPUZHIPU $158.15 $158.46 +0.289% — — +203.1% 多付 — 0.406% +16.57% $9.2M $5.0M
LITELumentum $877.04 $877.11 +0.015% — — +5.5% 多付 — 0.064% +6.55% $8.7M $5.3M
COINCoinbase $148.16 $148.21 +0.040% +0.43% -0.39% +41.7% 多付 — 0.062% -1.09% $7.6M $13.1M
WDCWestern Digital $459.54 $459.52 -0.014% — — +5.5% 多付 — 0.144% +5.55% $7.4M $2.2M
MSTRMicroStrategy $99.136 $99.136 -0.022% +0.37% -0.39% +5.5% 多付 — 0.034% +1.09% $7.4M $21.8M
PLTRPalantir $158.18 $158.16 -0.006% -0.22% +0.21% -1.3% 空付 — 0.038% +1.48% $6.0M $8.6M
DELLDell $446.59 $446.75 +0.050% — — +8.3% 多付 — 0.066% -2.33% $4.9M $3.7M
BEBE $237.57 $237.89 +0.223% — — +57.3% 多付 — 0.097% +3.40% $4.9M $2.9M
CRWVCoreWeave $87.85 $87.827 -0.027% — — -3.4% 空付 — 0.076% -0.16% $3.8M $4.7M
HOODRobinhood $92.085 $92.111 +0.059% -0.46% +0.52% +5.5% 多付 — 0.039% -0.31% $3.7M $15.6M
RKLBRocket Lab $78.77 $78.797 +0.068% — — +8.8% 多付 — 0.091% +6.94% $3.6M $4.9M
ARMArm $290.8 $291.02 +0.147% — — +5.5% 多付 — 0.110% +6.82% $3.1M $3.5M
TSMTSMC $421.2 $421.51 +0.075% — — +7.7% 多付 — 0.045% +2.07% $3.1M $15.2M
PURRDATPURRDAT $6.785 $6.8 +0.252% — — +5.5% 多付 — 0.433% +1.69% $2.0M $5.8M
STRCSTRC $94.565 $94.419 -0.144% — — -107.1% 空付 — 0.151% +0.34% $2.0M $14.0M
SHAZSHAZ $54.637 $54.985 +0.907% — — +226.5% 多付 — 0.741% +0.15% $1.8M $3.6M
BBBlackBerry $8.885 $8.881 -0.056% — — -24.4% 空付 — 0.101% +2.96% $1.8M $11.6M
BABAAlibaba $126.63 $126.67 +0.041% — — +21.4% 多付 — 0.066% -0.09% $1.7M $9.1M
NFLXNetflix $73.405 $73.396 +0.020% — — +5.5% 多付 — 0.071% -1.57% $1.4M $4.2M
IBMIBM $234.72 $234.76 +0.046% — — +5.5% 多付 — 0.101% +0.87% $1.4M $2.4M
KORUKORU $17.093 $17.093 +0.063% — — +5.5% 多付 — 0.199% +4.51% $1.3M $193K
NOWServiceNow $121 $121.06 +0.073% — — +42.5% 多付 — 0.139% +7.34% $1.3M $1.7M
HIMSHims $30.23 $30.206 -0.091% — — +11.1% 多付 — 0.362% -2.54% $1.3M $3.4M
USARUSA Rare Earth $18.44 $18.44 -0.201% — — +38.8% 多付 — 0.232% +7.63% $1.2M $1.4M
LYTELYTE $26.06 $26.135 +0.649% — — +546.7% 多付 — 1.305% -6.66% $1.2M $976K
ASMLASML $1,741.2 $1,741.1 +0.011% — — +5.5% 多付 — 0.070% +2.11% $1.1M $1.5M
LLYEli Lilly $1,196.1 $1,196.3 +0.084% — — +5.5% 多付 — 0.064% +0.79% $1.1M $4.5M
XLEEnergy Select Sector SPDR Fund $57.965 $58.005 +0.124% — — +46.3% 多付 — 0.149% +0.16% $988K $2.1M
SMHVanEck Semiconductor ETF $578.24 $577.75 -0.074% — — -17.1% 空付 — 0.130% +1.42% $966K $1.6M
AVGOBroadcom $423.26 $423.44 +0.039% +0.93% -0.89% +26.0% 多付 — 0.052% +1.09% $831K $2.9M
DKNGDraftKings $21.495 $21.522 +0.145% — — +5.5% 多付 — 0.380% -0.93% $748K $561K
BOTBOT $28.299 $28.474 +0.612% — — +407.3% 多付 — 1.015% +4.54% $654K $3.9M
NOKNOK $9.505 $9.508 +0.074% — — +9.8% 多付 — 0.183% -0.01% $586K $1.1M
AMATAMAT $536 $536 +0.018% — — +5.5% 多付 — 0.178% +0.67% $562K $702K
QNTQuantinuum $59.145 $59.06 -0.089% — — -174.8% 空付 — 0.271% +3.96% $460K $1.4M
GIGADEVGIGADEV $61.154 $60.771 -0.374% — — -210.9% 空付 — 1.741% +6.34% $405K $2.3M
QCOMQCOM $161.53 $161.77 +0.190% — — +31.5% 多付 — 0.083% +3.01% $380K $3.6M
SOXLSOXL $137.62 $137.59 -0.018% — — +5.5% 多付 — 0.187% +1.92% $359K $131K
NCLDNCLD $23.143 $23.074 +0.079% — — +318.4% 多付 — 2.186% -1.61% $296K $19K
URNMURNM $53.85 $53.954 +0.215% — — +126.3% 多付 — 0.353% +3.04% $220K $1.2M
EBAYeBay $110.88 $111.18 +0.453% — — +82.5% 多付 — 0.476% -0.85% $197K $308K
GMEGameStop $19.23 $19.23 -0.028% — — -11.9% 空付 — 0.173% +1.16% $181K $1.3M
BIRDBIRD $2.383 $2.373 -0.690% — — -458.3% 空付 — 2.992% +1.42% $174K $108K
ZMZoom $102.1 $101.96 -0.168% — — -157.1% 空付 — 0.484% +3.30% $159K $377K
BXBlackstone $133.83 $134.13 +0.229% — — +72.3% 多付 — 0.110% -1.65% $143K $569K
RIVNRivian $15.51 $15.535 +0.170% — — +62.5% 多付 — 0.278% -0.17% $116K $685K
COSTCostco $947.74 $947.74 -0.040% — — +5.5% 多付 — 0.197% -0.46% $108K $282K
GEVGEV $1,012.1 $1,015 +0.313% — — +88.9% 多付 — 1.049% -1.03% $19K $26K
IBIDENIBIDEN $121.99 $121.99 0.000% — — 0.0% — — -0.01% $0 $0
KSTRKSTR $25.15 $25.15 0.000% — — 0.0% — — 0.00% $0 $0