ksUSD earns carry across
Base's trading economy
−0.09%
ETH-PERP APR
!
Funding sits in the dead zone — between −12% and +2% the basis can't clear its costs, so capital parks in USDC lending.
Binance ETH-USDT proxy · Drift-equivalent (×2.37 / ×0.10)
Engine paused on devnet — funding shown is informational, not an active position.
Funding · Last 90 Days
39% normal
·
61% parked
·
0% reverse
+2% normal trigger
−12% reverse trigger
How ksUSD earns
▼
One Anchor program · one PDA-owned engine · one share token. Modes switch automatically based on funding rates.
When ETH perp funding is positive (+2%+ APR):
Engine opens short hedge, earns funding
When funding is in dead zone (−12% to +2%):
Capital sits in USDC lending
When funding is deeply negative (−12%+ APR):
Engine opens long hedge, earns reverse funding