Cross-Exchange Funding Rate Arbitrage: A Fixed-Yield Strategy Through Boros

Key Findings Cross-perp funding rate arbitrage through Boros delivers consistent, average yields of 5.98%-11.4% Fixed APR across BTC and ETH markets between Hyperliquid and Binance These returns outperform traditional low-risk crypto strategies such as AAVE lending and ETH staking by 2–4x while maintaining zero directional price exposure Peak opportunities exceeded 23% APR during our observation window in this case study, with prior instances reaching as high as 48% APR These arbitrage opportuni