Ethena (ENA) Funding Rate (Hyperliquid)
Live ENA funding on Hyperliquid: the hourly rate Hyperliquid pays, the same as an 8-hour equivalent and APR, the predicted next payment, open interest and the mark-vs-oracle premium, next to Binance and Bybit funding for the same coin, with funding and OI history below.
ENA pays -0.00115% per hour on Hyperliquid (-0.0092% per 8 hours, -10.1% APR), so shorts pay longs; that is below the 0.00125%/h baseline a balanced market pays. Hyperliquid funding is 13.4% APR lower than on Binance (3.3% APR) and 21.0% APR lower than on Bybit (11.0% APR). Open interest is $26.19M, #10 of 179 Hyperliquid perps and 0.6% of native perp OI; it has fallen 11.92% in 24 hours. The mark price is 7.1 bps below the oracle; a premium this small leaves funding at the interest baseline.
ENA funding: Hyperliquid vs Binance & Bybit
Funding arbitrage →| Exchange | Interval | Per interval | 8h equiv. | APR | HL − exchange | Next payment |
|---|---|---|---|---|---|---|
| Hyperliquid | 1h | -0.00115% | -0.0092% | -10.1% | — | 23m |
| Binance ENAUSDT | 4h | 0.0015% | 0.0030% | 3.3% | -13.4% | 2h 23m |
| Bybit ENAUSDT | 4h | 0.0050% | 0.0100% | 11.0% | -21.0% | 2h 23m |
Hyperliquid charges every hour and most Binance and Bybit perps every 8 hours, so the gap is compared as 8-hour equivalents and APR. Hyperliquid's rate is the one it will charge at the next hour, updated live.
ENA open interest & limits
All markets →| Open interest | $26.19M (187,371,684 ENA) |
|---|---|
| Change 1h / 24h | -0.28% / -11.92% |
| Share of native perp OI | 0.6% (#10 of 179) |
| OI cap | — |
| OI cap use | — |
| Max leverage | 10x |
| 24h volume | $14.71M |
Hyperliquid publishes a per-market OI cap only for HIP-3 markets, so native perps show "—" for the cap.
ENA premium
mark vs oracle| Mark price | 0.1398 |
|---|---|
| Oracle price | 0.1399 |
| Mark vs oracle | -7.1 bps |
| Impact premium | +0.0 bps |
| Funding vs baseline | -21.0% APR |
A balanced market pays the 0.00125% per hour interest baseline; a positive premium adds to it.
ENA funding history
8h equivalent · Hyperliquid vs Binance & BybitLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
ENA open interest on Hyperliquid
USDLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
ENA observed funding: last seven completed UTC days
| UTC date | Mean per hour | 8h equiv. | Hours observed |
|---|---|---|---|
| 2026-11-11 | 0.00113% | 0.0090% | 24/24 |
| 2026-11-10 | 0.00116% | 0.0093% | 24/24 |
| 2026-11-09 | 0.00093% | 0.0075% | 24/24 |
| 2026-11-08 | 0.00066% | 0.0052% | 24/24 |
| 2026-11-07 | 0.00106% | 0.0085% | 24/24 |
| 2026-11-06 | 0.00124% | 0.0100% | 24/24 |
| 2026-11-05 | 0.00114% | 0.0092% | 24/24 |
Mean observed quotes from this site's hourly recordings for ENA on Hyperliquid, not settled payments or a cashflow sum. Rates are stored as 8h equivalents; the hourly mean is divided by eight. Coverage counts usable hourly observations, not every five-minute sample. Missing hours are excluded, not treated as zero. APR would be a constant-rate extrapolation, not a realised return.
More on ENA on Hyperliquid
ENA Hyperliquid funding FAQ
What is the ENA funding rate on Hyperliquid?
Hyperliquid charges funding every hour, on the hour. The hourly rate is the perp's average premium over its oracle price during the hour plus an interest part of 0.01% per 8 hours, capped at 4% per hour. Positive funding means longs pay shorts. To compare with an exchange that pays every 8 hours, multiply the hourly rate by 8; APR is the hourly rate x 24 x 365. Right now ENA pays -0.00115% per hour, which is -0.0092% per 8 hours or -10.1% APR.
How does ENA funding on Hyperliquid compare with Binance and Bybit?
Binance and Bybit usually pay every 8 hours (some perps every 4 hours or hourly) and Hyperliquid every hour, so this page compares them as 8-hour equivalents and APR. A positive gap means longs pay more on Hyperliquid. Right now Hyperliquid ENA funding is 13.4% APR lower than on Binance (3.3% APR) and 21.0% APR lower than on Bybit (11.0% APR). Holding the opposite position on each exchange to collect the gap is funding arbitrage; it isn't risk-free, since rates change every interval and each leg can be liquidated on its own.
Is there an open interest cap on ENA?
Hyperliquid limits open interest on every market, but it publishes a per-market cap only for HIP-3 markets, set by their deployers. For native perps like this one the page shows "—" for the cap. When a market hits its limit, trades that would add to open interest are refused until it falls; closing trades still work. ENA open interest on Hyperliquid is $26.19M right now. ENA trades with up to 10x leverage.
What is the mark-vs-oracle premium?
The oracle price is a weighted median of spot prices on major exchanges, published by Hyperliquid's validators. The mark price is what the perp trades at. When the perp trades above the oracle, the premium is positive and pushes the next funding payment up; below the oracle it pulls funding down. Right now the ENA mark is -7.1 bps from the oracle.
Where does the funding history come from?
For the 30 or so largest Hyperliquid coins by open interest, the funding chart starts with Hyperliquid's own record of every settled payment, back to May 2023 or the coin's listing if later (pick Max on the chart). After that, and for every other coin, it is this site's recording of every Hyperliquid market from Hyperliquid's public API every 5 minutes, kept as hourly averages. The open interest chart is this site's recording only. The charts show funding as an 8-hour equivalent, the same scale as Binance and Bybit, so the lines can be compared directly. Nothing here is financial advice.