Pendle has launched Boros, a new platform on Arbitrum to enable trading of funding rates for bitcoin and ether perpetual markets. Users can take long or short positions using 'Yield Units' (YUs), each representing the realized funding yield of one unit of notional (e.g., 1 ETH or 1 BTC) until expiry. The platform has a cap of $10 million open interest per market and offers 1.2x leverage. The introduction of Boros serves as a hedge for traders who pay or earn funding fees on centralized exchanges, allowing them to react to expected changes in funding rates. Additionally, liquidity provisioning is emphasized with Boros Vaults, allowing liquidity providers to earn fees and incentives. Future updates will include more assets and integration with other platforms, while ensuring risk management remains a priority.

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