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A practical framework for trading funding through fixed and floating rates, carry, basis, spreads, curves, events, and liquidity. Boros turns a floating stream of funding payments into a tradable position with a fixed entry rate and a maturity.

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Boros allows traders to capture the spread between the funding rates of two venues. Short the perp with the higher funding rate, long the one with the lower rate, fix a rate on both legs on Boros, and collect the spread. This article examines the natural counterparty after arbitrage flow compresses that fixed spread.

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Perpetual funding is often treated like a background detail. In practice, it can become a meaningful driver of PnL. One recent example is the expired Binance Silver market on Boros, XAGUSDT, where the short-term funding path was far less stable than its longer moving averages suggested.

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BRENTOIL is joining CL on Boros, giving traders another way to trade oil funding markets. This article compares the early BRENTOIL data with CL, including their hourly and daily correlations and the higher volatility observed in BRENTOIL funding.

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CL-USDC is about to launch on Boros. I pulled all hourly funding settlements from Hyperliquid’s xyz:CL market, and one result dominates the dataset: weekends account for just 29% of hours but 54% of all funding paid.