The Pendle team launched Boros, a funding rate trading platform on Arbitrum that allows users to speculate and hedge funding rates, and now supports trading BTCusDT and ETHUSDT funding rates, with plans to expand to more assets (e.g. SOLUSDT, BNBUSDT), more platforms (e.g. Hyperliquid, Bybit), more maturities and more yield products in the future. Boros trades using yield units (YU), each YU representing the yield of 1 unit of collateralized assets until maturity, similar to Pendle's YT. Boros will be available in limited quantities: open interest (OI) per market will be capped at $10 million initially and leverage will be limited to 1.2 times.