Ethena (ENA) Perpetual on Hyperliquid
Auto-refreshes every 30s · Max leverage: 10x
Source: live price, 24h volume, open interest, and funding-rate data from the official Hyperliquid API (Hyperliquid L1 on-chain order book), refreshed every 30 seconds.
Quick Summary — What is ENA on Hyperliquid?
ENA (Ethena) on Hyperliquid is a cash-settled perpetual futures contract that tracks the ENA/USD price through an oracle-based mark price. Funding settles hourly to keep the perpetual anchored to spot, and there is no expiry or delivery — positions roll continuously. All margin is denominated in USDC, and you can trade with up to 10x leverage. As a native Hyperliquid perp, ENA trades on the platform's on-chain order book 24/7 with no KYC, full self-custody through your own wallet, and zero gas fees on every order. Base fees are 0.045% taker and 0.015% maker per Hyperliquid's published fee schedule, dropping further with volume tiers and HYPE staking discounts. The leverage ceiling above is read from the Hyperliquid API's market metadata, and the live price, funding rate, open interest, and 24h volume shown at the top of this page come from the same API on each load. Figures quoted from this page are point-in-time readings, last verified .
ENA on Hyperliquid at a Glance
| Underlying | Ethena (ENA) |
|---|---|
| Market type | Native validator perpetual future |
| Max leverage | 10x |
| Maker fee | 0.015% |
| Taker fee | 0.045% |
| Funding interval | Hourly |
| Margin & settlement | USDC — cash-settled, no expiry |
| Trading hours | 24/7, including weekends & holidays |
Live ENA candles from the Hyperliquid API. Ready to trade? Get a 4% fee discount.
Trade Ethena (ENA) on Hyperliquid
Ethena created USDe, a synthetic dollar backed by delta-neutral staked ETH positions. ENA governs one of DeFi's fastest-growing stablecoin protocols. Trade ENA-PERP on Hyperliquid.
Hyperliquid's ENA perpetual tracks the ENA/USD price using an oracle-based mark price system. Funding rates are calculated hourly and settle continuously, keeping the perpetual price anchored to spot.
Key Market Facts
Leverage read from the Hyperliquid API; fee figures from Hyperliquid's published fee schedule.
Frequently Asked Questions
What leverage is available for ENA on Hyperliquid?
You can trade ENA perpetual futures with up to 10x leverage on Hyperliquid. Start with lower leverage (2-5x) if you are new to the platform.
What are the trading fees for ENA on Hyperliquid?
Base taker fee is 0.045% and maker rebate is 0.015%, both from Hyperliquid's published fee schedule. Fees decrease with higher volume tiers and HYPE staking. Signing up through our referral code applies an automatic rebate on Entropy's own markets, quoted against Entropy's roughly 50% share of the fee, so it works out to about 12.5% of what you actually pay.
How does ENA funding work on Hyperliquid?
Funding is calculated hourly and settles continuously. When the rate is positive, longs pay shorts. When negative, shorts pay longs. The rate reflects the premium between mark and oracle prices.
How we source and review this market data
Data collection. Live ENA price, funding rate, open interest, and 24h volume are pulled directly from the Hyperliquid API on every page load. ENA-PERP is a native Hyperliquid perpetual, traded on the platform's own on-chain order book. Numbers shown are unedited machine values from those feeds — we do not hand-adjust prices or rates.
Editorial review. The trading context on ENA-PERP — catalysts, contract specs, and the “why trade this” analysis — is written and reviewed by Concept211, an active Hyperliquid trader since February 2024 who trades perpetuals daily and builds automated bots on the Hyperliquid API. Each market is checked against the live Hyperliquid interface before publishing.
Last reviewed. . Contract specs and catalysts are re-checked on a rolling basis; live data refreshes automatically. Read the full editorial methodology for how figures are sourced, verified, and corrected.
Trade ENA on Hyperliquid
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