TBT's "UltraShort" name does not mean short-maturity Treasuries.
CoinLaw's launch report calls TBT a "leveraged short-duration Treasury fund," though it later correctly explains that the fund moves against long bonds. Read that shorthand as short-term debt and you get the exposure wrong. [CoinLaw](https://coinlaw.io/binance-tradfi-perpetuals-tmf-tbt-bito/)
Binance's TBTUSDT funding settlement at 2026-11-13 16:00 UTC+8 was -0.3%, rounded. That payment rate tells you nothing about the maturity of the bonds behind the ETF.
ProShares targets -2x the daily performance of the ICE U.S. Treasury 20+ Year Bond Index, before fees and expenses. Its benchmark includes bonds with more than 20 years remaining to maturity. "Short" describes the inverse exposure; it does not shorten those bonds. [ProShares](https://www.proshares.com/our-etfs/leveraged-and-inverse/TBT)
Assess it as an inverse long-bond position; a negative funding payment does not turn it into a cash substitute.
$TBT #TreasuryBonds #ETF
CoinLaw's launch report calls TBT a "leveraged short-duration Treasury fund," though it later correctly explains that the fund moves against long bonds. Read that shorthand as short-term debt and you get the exposure wrong. [CoinLaw](https://coinlaw.io/binance-tradfi-perpetuals-tmf-tbt-bito/)
Binance's TBTUSDT funding settlement at 2026-11-13 16:00 UTC+8 was -0.3%, rounded. That payment rate tells you nothing about the maturity of the bonds behind the ETF.
ProShares targets -2x the daily performance of the ICE U.S. Treasury 20+ Year Bond Index, before fees and expenses. Its benchmark includes bonds with more than 20 years remaining to maturity. "Short" describes the inverse exposure; it does not shorten those bonds. [ProShares](https://www.proshares.com/our-etfs/leveraged-and-inverse/TBT)
Assess it as an inverse long-bond position; a negative funding payment does not turn it into a cash substitute.
$TBT #TreasuryBonds #ETF