Pendle: Boros launches Spread Markets for ETH and BTC - 15 Oct 2026
Boros launches Spread Markets on 15 Oct 2026, starting with ETH and BTC spreads. The product allows users to take a long or short position on the gap between funding rates at different venues, expressing that gap through a single position.The single-position structure makes the inter-venue funding-rate difference the object of the trade, rather than a funding rate at one venue. PENDLE's connection to the product is through value accrual from Boros fees and activity. Any revenue contribution therefore depends on actual use of the new markets, and both usage and revenue impact remain unproven at launch.The most iconic trades of past cycles came from huge inefficiencies across markets. Any trader would go back in time for them, but those premiums are long gone.The same opportunity lives on in perp funding rates, tradable now on our new Spread Markets.