Funding rates tell an interesting story across platforms. When major exchanges quote 10.95% APR while others sit at 3.5%, traders catch wind of the gap. On Boros, these translate to fixed APRs—5.39% for one venue's BTC and 4.19% for another's. The numbers reveal how different platforms price perpetual contracts. This spread matters for anyone running hedging strategies, since the basis becomes your profit margin.