v3.26.1
Derivatives and Hedging Activities - Schedule of Effect of Derivative Financial Instruments on Statement of Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Derivative Instruments, Gain (Loss)        
Gain (Loss) on Derivative Instruments, Net $ 31,584 $ (30,916) $ 44,463 $ (107,595)
Not Designated as Hedging Instrument        
Derivative Instruments, Gain (Loss)        
Realized Gain (Loss) on Derivative Instruments, Net (32,412) (47,608) (9,088) (149,124)
Contractual Net Interest Income (Expense) 20,757 28,631 42,335 56,710
Unrealized Gain (Loss), Net 43,239 (11,939) 11,216 (15,181)
Gain (Loss) on Derivative Instruments, Net 31,584 (30,916) 44,463 (107,595)
Not Designated as Hedging Instrument | Interest rate swaps        
Derivative Instruments, Gain (Loss)        
Realized Gain (Loss) on Derivative Instruments, Net (3,623) (36,316) (1,412) (112,575)
Contractual Net Interest Income (Expense) 20,757 28,631 42,335 56,710
Unrealized Gain (Loss), Net 12,928 (8,485) 6,680 (7,943)
Gain (Loss) on Derivative Instruments, Net 30,062 (16,170) 47,603 (63,808)
Not Designated as Hedging Instrument | U.S. Treasury futures contracts        
Derivative Instruments, Gain (Loss)        
Realized Gain (Loss) on Derivative Instruments, Net (4,900) (9,834) 4,581 (38,516)
Contractual Net Interest Income (Expense) 0 0 0 0
Unrealized Gain (Loss), Net 8,231 (3,672) 3,071 (7,844)
Gain (Loss) on Derivative Instruments, Net 3,331 (13,506) 7,652 (46,360)
Not Designated as Hedging Instrument | TBAs        
Derivative Instruments, Gain (Loss)        
Realized Gain (Loss) on Derivative Instruments, Net (23,889) (1,458) (12,257) 1,967
Contractual Net Interest Income (Expense) 0 0 0 0
Unrealized Gain (Loss), Net 22,080 218 1,465 606
Gain (Loss) on Derivative Instruments, Net $ (1,809) $ (1,240) $ (10,792) $ 2,573