These rows show each exchange's current-moment perp funding rate annualized, the hedge leg Kerne shorts. The skUSD APY shown on the stat card above uses a 60-day trailing mean of this funding plus LST staking, the venue leverage the deployed engine itself targets, and cost deductions. Because the hedge is sized one for one against spot, that leverage sets how much margin has to be posted and multiplies the carry by less than one, never by the leverage itself. Short-term funding can flip negative; the trailing window smooths the noise so the modeled figure is stable.