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Boros: funding-rate markets, margin and costs
An explanation of Pendle’s funding-rate trading platform and the costs and restrictions attached to margin positions.
The rate is the subject of the position
Boros is Pendle’s platform for trading funding rates on margin. Funding is a payment associated with a perpetual market. Exposure to that rate differs from simply buying the underlying token: the rate can change independently of the token’s price. These positions are not ordinary savings deposits.
Four types of fee
The fee documentation separates taker fees, periodic settlement fees, a market entrance fee and liquidation fees. Taker and liquidation fees depend on position size and time remaining to maturity. Settlement fees apply to open positions on both sides. Fees are deducted from collateral, and market-specific rates can differ.
Margin remains at risk
Margin positions can be liquidated. A view about a future funding rate can be wrong, and movements before a position ends can affect its collateral requirements. Fees and liquidation are separate from the direction of the rate itself. RefWiki has not tested positions or independently audited the contracts.
Eligibility includes more than location
The Boros eligibility clause excludes US citizens, US residents and people located in the US. The general terms also incorporate sanctions, FATF lists and other jurisdiction restrictions. An IP address cannot establish all of those conditions. This summary does not establish eligibility elsewhere or permission to bypass the provider’s controls.
About this explanation
Based on provider documentation reviewed on . This is an independent explanation, not a recommendation to trade. The source links are not affiliate links; this page contains no referral code or signup offer.
Provider terms and product details can change. Report a correction.