Boros Adds Bitcoin (BTC) and Ether (ETH) Spread Markets

Pendle’s Boros has added Bitcoin (BTC) and Ether (ETH) markets that let traders take positions on the difference between perpetual-futures funding rates on Hyperliquid and Gate. Each market turns the two venues’ rates into one floating rate, giving traders exposure to the gap between them. Funding rates are periodic payments between traders holding opposing perpetual-futures positions, and rates for the same asset can differ between venues. In Boros’s Bitcoin market, the floating rate is Hyperliquid’s funding rate minus Gate’s. The spread can be negative. A position is set against a fixed annual percentage rate (APR) at entry.

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