Research by Bitget, Reality and Keyring estimates a 7% annualized net return in sample and 4% out of sample for a proposed stock-token strategy pairing tokenized shares with perpetual-contract hedges.
The 7% result came from the in-sample period used to set the model’s parameters, while the 4% was recorded in the out-of-sample period. The historical simulation ran from Dec. 15, 2025, to Oct. 19, 2026. The research put the gross funding premium at about 11% to 14%, with borrowing costs, trading fees and available liquidity affecting how much remains in net performance. These are modeled results, not customer returns or a promise of future performance.
The proposed index would use Reality’s rTokens for onchain exposure to company shares, alongside short positions in matching stock perpetual contracts. Those derivatives are intended to limit the strategy’s sensitivity to share-price moves. When funding rates are positive, short positions can collect payments, creating one source of income for the model.
Keyring is responsible for setting the index rules and building the associated lending market. The lending pool would pay suppliers from borrower interest after fees. Index participants would receive a separate strategy return, net of financing and execution costs.
The research cites past failures among large centralized market participants as one force behind efforts to assign custody, trade execution and margin oversight to separate providers. It also says equity-basis strategies have historically operated through centralized exchanges.
The study warns that negative funding, mismatched collateral values and delays in unwinding positions could reduce returns or increase liquidation risk. Borrowing expenses, trading fees and limited liquidity could further reduce net performance.
Bitget says selected products are planned for Earn distribution; access will depend on product review, eligibility and availability. EconoTimes previously covered the companies’ plan for a share-backed rAURE token.
