ENA-PERP is a perpetual future on the governance token of Ethena, the protocol behind the USDe synthetic dollar. It trades in the same cross-margin account as BTC, ETH and every other Aevo market.
Snapshot from 25 October 2026. These figures refresh from the Aevo public API when it is reachable from this page. Funding is shown per one-hour funding period.
Index price, last 7 days
Hourly index prices over the 7 days to 25 October 2026. The chart refreshes from the Aevo public API when it is reachable from this page.
01
ENA-PERP at the 5 October 2026 snapshot
Price at the 5 October 2026 snapshot
24-hour change at the snapshot
Open interest on Aevo at the snapshot
Funding rate at the snapshot, per one-hour period
Figures are from Aevo’s market list at the snapshot. The live strip above refreshes when the page loads.
02
Ethena in brief
Ethena issues USDe, a synthetic dollar backed by spot crypto hedged with short perpetual positions.
That is a cash-and-carry basis trade, run at protocol scale.
ENA launched in April 2024 and governs the protocol.
03
ENA-PERP at a glance
04
What moves the price of Ethena?
Funding rates. Ethena earns from positive funding, so funding regimes affect USDe yield and sentiment.
USDe supply. Growth or shrinkage of USDe is the key adoption figure.
Token unlocks. Scheduled unlocks add supply.
Market beta. ENA moves with the wider altcoin market.
05
Where would a ENA position be liquidated?
The calculator starts at 5x. Set the maintenance margin to the figure on the ENA ticket.
Where does a leveraged position get liquidated?
06
Risks of a leveraged ENA position
Leverage. Altcoin and equity perps can move further in a day than BTC, so the same leverage sits closer to liquidation.
Funding. Crowded positions pay funding every hour the imbalance lasts.
Cross-margin spillover. A loss here draws on collateral that backs your other positions.
Thin books. Large market orders can move the price.
Ready to trade Ethena?
ENA-PERP in the same account as your other positions.
Trade ENA-PERP ↗
WHERE TO GO NEXT
Browse every crypto perpetual market on Aevo with live mark and index prices. For live price and funding on Sui, see the Sui perpetual. For live price and funding on Robinhood, see the Robinhood perpetual. Before sizing anything, check how liquidation works with the interactive leverage calculator. Start with what are perpetual futures if funding, mark price and liquidation are new to you. To see how a hedge can lower what a perp needs, read how cross margin perps & options work together on one account.
07
Frequently asked questions
What is ENA-PERP on Aevo?
+
How often is funding paid on ENA-PERP?
+
Can I use PERPS+ on ENA?
+
Do I need ENA to trade ENA-PERP?
+
Open the ENA perp
USDC settlement, one cross-margin account.
Trade ENA-PERP ↗
MARKET
ENA-PERP
COLLATERAL
USDC AND USDT
HOURS
24 / 7 / 365
MARKETS / ETHENA / ENA-PERP
Market pages are for information only and aren’t financial advice. Perpetual futures are leveraged and you can lose your full position. Live figures come from the Aevo public API and can change.