Boros: Open interest surpasses $200 million, allowing users to achieve 2 to 4 times the returns of traditional strategies while maintaining zero direc...
TL;DR
Boros, Pendle's funding rate trading platform, has surpassed $200 million in open interest and $6.3 billion in trading volume since August. It offers users 5.98% to 11.4% fixed annualized returns through cross-perpetual contract arbitrage, outperforming traditional low-risk strategies by 2 to 4 times with zero price exposure.
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On December 22, Pendle's funding rate trading platform, Boros, announced on social media that its open interest in the protocol had surpassed $200 million, setting a new record. Since its launch in August, in just about 4.5 months, the platform's notional trading volume has also exceeded $6.3 billion.
The official statement indicates that users can achieve an average fixed annualized return of 5.98% to 11.4% through cross-perpetual contract funding rate arbitrage using Boros, between the BTC and ETH markets on Hyperliquid and Binance. This return is 2 to 4 times higher than traditional low-risk strategies such as AAVE lending and ETH staking, while maintaining zero directional price exposure. Unlike traditional arbitrage strategies that face funding rate volatility risk, the Boros strategy locks in a fixed return upon entry.