Pendle Cites 38% Average APR for 0x87c Over 3.5 Months

Pendle cited an average annual percentage rate (APR) of about 38% for 0x87c over a 3.5-month period in a discussion of perpetual-futures funding. APR expresses a rate on an annualized basis, so the figure does not mean 0x87c earned 38% during those 3.5 months.

Funding rates are payments exchanged between traders holding opposite positions in perpetual-futures contracts. Rates for the same asset can differ across venues.

Separately, Pendle announced Boros markets for Bitcoin (BTC) and Ether (ETH) on Oct. 15, based on the difference between funding rates on Hyperliquid and Gate. The Boros markets were a separate development from the 0x87c APR example.