Live Data
Ethena (ENA) Perpetual Futures
Ethena (ENA) Perpetual Futures — Live Data
Open on HyperliquidFunding Rates
Annualized rates across exchanges
HyperliquidDEX
BybitCEX
BinanceCEX
dYdXDEXOpen Interest
Per-exchange open interest
BybitHyperliquiddYdXLong/Short Ratio
Account-level positioning
No data available
Cost Comparison
Fee + slippage for $100K trade
No data available
Market Overview
Ethena is a synthetic dollar protocol that creates USDe through delta-neutral hedging strategies using staked ETH collateral and short perpetual futures positions. ENA perpetual futures are available on major centralized exchanges. Trading ENA perps is uniquely meta — Ethena's core product literally relies on the perpetual futures market to maintain its dollar peg.
Ethena is itself one of the largest single participants in perp funding markets: the protocol delta-hedges its USDe stable-asset by holding short perp positions across major venues. ENA exposure is therefore intertwined with the funding-rate regime this page displays because compressed positive funding supplies protocol revenue.
Trading Tips for Ethena Perps
ENA is a reflexive trade on perps funding rates — when funding is positive, Ethena earns more yield on USDe, making ENA more attractive. Monitor the sUSDe yield and USDe peg stability as real-time fundamental indicators for ENA perp positioning.
Where to Trade Ethena (ENA) Perpetual Futures
Ethena (ENA) perpetual futures are available on 7 exchanges. The venue cards compare fees, leverage, and features for trading ENA perps.
Frequently Asked Questions — Ethena (ENA)
What is the current ENA perpetual futures funding rate?▼
Which exchange has the lowest ENA perp trading fees?▼
How does Ethena open interest compare across exchanges?▼
What does the ENA long/short ratio indicate?▼
Where can I trade ENA perpetual futures?▼
Category: DeFi · Data updates every 2 minutes · All rates shown are annualized