TermFundingHedge

The fixed-rate lock available on a row whose floating yield is perp funding (BOROS_EARN_HEDGE.md): a SHORT YU on Pendle Boros (Arbitrum) that pays one venue’s funding and receives a fixed rate until the leg matures. A SEPARATE margined position — it does not change the row’s own terms. Per unit of notional (priced at referenceNotionalUsd), never per account. Rates are nominal APR in PERCENT. Build it with GET /v1/actions/boros/hedge using action.params plus notionalUsd and account.

kindstringrequired

Example: boros-funding-lock

profilestringrequired

Example: ethena

chainIdstringrequired

EVM chain id, as a decimal string. See the ChainId schema.

Example: 42161

referenceNotionalUsdnumberrequired

Example: 10000

legs object[]required

Array [

weightnumberrequired

Example: 0.5

marketIdintegerrequired

Example: 241

venuestringrequired

Example: Hyperliquid

assetstringrequired

Example: BTC

maturitynumberrequired

marginTokenstringrequired

USD₮0 or WETH — a WETH margin carries ETH price exposure.

fixedAprnumber

Absent when the bid side is empty.

floatingAprnumber

fillRationumberrequired

Share of the leg the book fills now (0–1).

]

fixedAprnumber

floatingAprnumber

lockSpreadAprnumber

fixed − floating: what locking gains (+) or gives up (−) at today’s rates.

costAprnumberrequired

Taker fee annualised over the term + settlement fee.

marginPer1kUsdnumberrequired

Margin per $1k of notional: IM × marginBuffer + taker fee.

marginBuffernumberrequired

Example: 2

minCashUsdnumberrequired

Cash a Boros account needs before it can trade.

adverseMoveAprnumber

Approximate funding rise (pp) to liquidation on the worst leg.

lockedUntilnumberrequired

Earliest leg maturity — re-hedge by then.

basis object

How the issuer’s published yield tracked the locked funding (90 d). Absent when the recorded basis could not be read.

daysinteger

meanGapAprnumber

trackingErrorAprnumber

correlationnumber

betanumber

trackingNotestring

executablebooleanrequired

blockedBystring

Possible values: [no-liquidity, no-market]

action objectrequired

routestring

Example: /v1/actions/boros/hedge

params object

property name*string

info objectrequired

headlinestringrequired

Ready-to-render one-liner, templated from this market’s live numbers. ALWAYS populated — it is the graceful-degradation path when a client meets an enum member it predates.

Example: Fixed 4.12% until 3 Sep 2026 · repay any time at face value

descriptionstring

A 1–3 sentence explainer, templated from the same structured fields as headline so the prose can never drift from the numbers. Where a vault carries hand-written copy that says more than a template can, the curated text is used instead. Hoisted to the side root in the digest, exactly like headline.

Example: You earn 8% (8% base), at a rate the operator sets. Withdrawals settle in the same block, but only up to the portion of the vault held liquid — a larger exit has to wait.

implicationsstring[]

Consequences a rate alone hides, ordered MOST SEVERE FIRST. Present only on terms=full.

tagsstring[]required

Machine tags derived from the structured fields (never hand-written), e.g. time-liquidation, full-collateral-seizure, redeemable, exit-cooldown. Present in BOTH the digest and the full sheet, which is why severity can be computed from either.

TermFundingHedge

{
  "kind": "boros-funding-lock",
  "profile": "ethena",
  "chainId": "42161",
  "referenceNotionalUsd": 10000,
  "legs": [
    {
      "weight": 0.5,
      "marketId": 241,
      "venue": "Hyperliquid",
      "asset": "BTC",
      "maturity": 0,
      "marginToken": "string",
      "fixedApr": 0,
      "floatingApr": 0,
      "fillRatio": 0
    }
  ],
  "fixedApr": 0,
  "floatingApr": 0,
  "lockSpreadApr": 0,
  "costApr": 0,
  "marginPer1kUsd": 0,
  "marginBuffer": 2,
  "minCashUsd": 0,
  "adverseMoveApr": 0,
  "lockedUntil": 0,
  "basis": {
    "days": 0,
    "meanGapApr": 0,
    "trackingErrorApr": 0,
    "correlation": 0,
    "beta": 0,
    "trackingNote": "string"
  },
  "executable": true,
  "blockedBy": "no-liquidity",
  "action": {
    "route": "/v1/actions/boros/hedge",
    "params": {}
  },
  "info": {
    "headline": "Fixed 4.12% until 3 Sep 2026 · repay any time at face value",
    "description": "You earn 8% (8% base), at a rate the operator sets. Withdrawals settle in the same block, but only up to the portion of the vault held liquid — a larger exit has to wait.",
    "implications": [
      "string"
    ],
    "tags": [
      "string"
    ]
  }
}