DERIVATIVE INSTRUMENTS - Effect of Other Derivative Contracts on the Consolidated Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Derivative [Line Items]
Unrealized Gain (Loss)	$ (492,183)	$ 97,484	$ (1,245,784)	$ 998,386
Amount of Gain/(Loss) Recognized in Net Gains (Losses) on Other Derivatives	(50,460)	15,910	(422,482)	183,240
Futures
Derivative [Line Items]
Realized Gain (Loss)		(6,800)	9,000	(6,800)
Unrealized Gain (Loss)		(1,200)
Purchase commitments
Derivative [Line Items]
Realized Gain (Loss)	0	0	0	0
Unrealized Gain (Loss)	2,580	2,360	12,439	(4,252)
Amount of Gain/(Loss) Recognized in Net Gains (Losses) on Other Derivatives	2,580	2,360	12,439	(4,252)
Net TBA derivatives
Derivative [Line Items]
Realized Gain (Loss)	(57,686)	(16,252)	(72,041)	(24,868)
Unrealized Gain (Loss)	74,703	15,931	119,236	30,829
Amount of Gain/(Loss) Recognized in Net Gains (Losses) on Other Derivatives	17,017	(321)	47,195	5,961
Net interest rate swaptions
Derivative [Line Items]
Realized Gain (Loss)	(9,230)	(12,331)	(9,230)	(12,331)
Unrealized Gain (Loss)	8,600	23,857	0	54,488
Amount of Gain/(Loss) Recognized in Net Gains (Losses) on Other Derivatives	(630)	11,526	(9,230)	42,157
Futures | Futures
Derivative [Line Items]
Realized Gain (Loss)	154,654	48,227	68,298	39,547
Unrealized Gain (Loss)	(224,081)	(45,882)	(541,184)	99,827
Amount of Gain/(Loss) Recognized in Net Gains (Losses) on Other Derivatives	$ (69,427)	$ 2,345	$ (472,886)	$ 139,374