How to read the board

These pages explain the figures the board prints: what each one measures, which published fields it comes from, and what it leaves out.

They are explanations, not advice, and they do not say what a point is worth. This site does not publish that figure anywhere.

• How to read Pts/$ — What the Pts/$ column measures, the formula behind it, and what it does not say.
• The cost of carrying a YT — What Carry and Break-even measure, why both are gross, and one live row.
• What a Pendle YT is — The yield half of a Pendle market: what it pays, and why it is worth nothing at maturity.