YT Opportunities

Pendle markets where the underlying is paying more than the rate the market has locked in. Buying YT captures that gap — the wider the spread and the cheaper the YT, the more leverage you get on the yield.

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How to read: spread is underlying APY minus implied APY — the edge you're buying. leverage is 1 / YT price: a YT at $0.05 gives you 20× exposure to the yield per dollar. break-even is how many days of accrual it takes to cover the YT cost, so anything longer than the days remaining loses money. annualised projects the full-term return if the underlying rate holds — it won't, so treat it as a ranking, not a forecast.