Funding-Rate Volatility: The Pain Point Perpetual-swap funding rates swing wildly, giving traders migraines. Pendle’s brand-new Boros module—live on Arbitrum since August 6, 2025—turns those very rates into a brand-new, fully on-chain asset class. Users can now hedge exposure or speculate on future funding-rate direction, while protocols such as Ethena finally get a tool to smooth their volatile yield streams. --- Funding-Rate 101 Perpetual contracts have no expiry, so exchanges use a “fundin...

Funding-Rate Volatility: The Pain Point Perpetual-swap funding rates swing wildly, giving traders migraines. Pendle’s brand-new Boros module—live on Arbitrum since August 6, 2025—turns those very rates into a brand-new, fully on-chain asset class. Users can now hedge exposure or speculate on future funding-rate direction, while protocols such as Ethena finally get a tool to smooth their volatile yield streams. --- Funding-Rate 101 Perpetual contracts have no expiry, so exchanges use a “fundin...