➠ @pendle_fi doubled down on the yield trading market with @boros_fi - leveraging its tokenization mechanics to let users trade yields based on funding rates like any other asset. Here’s what you need to know about Boros 👇 ==== Funding Rates? On CEXs (e.g. Binance), perpetual futures don’t expire, so traders pay a funding fee every 8 hours to keep contract prices aligned with spot. Funding fee = position size × funding rate. ✅ Positive FR → Longs pay shorts ❌ Negative FR → Shorts pay longs ==== About Boros & YU In early August, @pendle_fi launched @boros_fi - a platform for trading funding rates, now live on @arbitrum. How Boros works: 1️⃣ Deposit collateral (BTC or ETH) into Boros 2️⃣ Funding rates are tokenized into Yield Units (YU) so you can long or short funding rates directly Example: 1 YU-BTCUSDT-Binance = yield from funding rates on a 1 BTC position on Binance. • Implied APR = price of the YU. Your entry Implied APR locks in as your fixed APR until maturity. • Underlying APR = APR from the collateral’s funding rate. You can: 🟢 Long YU → Pay fixed APR (at entry) & receive underlying APR → win if underlying APR > fixed APR 🔴 Short YU → Pay underlying APR & receive fixed APR (at entry) → win if fixed APR > underlying APR ==== @boros_fi, still new and in its exploration phase, represents a smart move by @pendle_fi - evolving from pure yield tokenization to enabling active yield trading. This trading platform is not just for yield investors but it's also a good tool for futures traders with funding rates exposure, unlocking new ways to earn and paving the way for the next wave of DeFi.