About this Chart

Carry is the implied rate minus the realized funding rate, in APR points - the fixed leg less the floating one, and the number that says which side of a Boros market is being paid to hold its position.

Sign. Positive carry means the short is compensated: the fixed rate the long pays exceeds the floating funding it receives. Negative carry means the long is paid to hold.

Aggregates. Total, Asset, Exchange and Exchange x Asset use the front contract - the nearest unexpired maturity per exchange and asset each day - and are open-interest-weighted, so a small market cannot move the number as much as a large one.

Term ladder. BTC, ETH, HYPE and OIL instead draw one line per individual contract at every maturity, so the shape of the curve is visible as it rolls. Each line begins when the contract lists and ends at expiry.

Labels carry both symbol and collateral, because the same exchange, underlying and maturity can ship in more than one collateral flavour under identical symbols. Ticker variants of one physical asset are folded so crude oil, gold and silver each read as a single asset. A market that did not trade carries its last print forward.