HOW TO TURN $HYPE FUNDING RATES INTO PROFIT

Summary from the TLDR Crypto newsletter

Boros protocol lets traders isolate and trade funding rates as a standalone asset through Yield Units (YU), instruments that pay a fixed rate against the floating funding of a specific perpetual venue. A 4.03pp gap currently exists between HYPE's fixed rate on Hyperliquid (7.93%) and Bybit (3.89%), representing a spread that locks in at trade open and resolves over a 17-day window. The four-leg structure shorts YU on the Hyperliquid market and longs YU on Bybit, then offsets each leg with an opposing HYPE perpetual on the respective exchange, canceling both floating funding obligations and directional price exposure. The remaining return is the fixed rate differential, scaling to 40.30% APR at 10x leverage with no HYPE price risk.