ENA-USDT Perpetual Futures

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ENA-USDT · Market overview

Ethena (ENA) is the governance token of Ethena Labs, which issues USDe, a synthetic dollar backed by delta-hedged crypto positions. Launched in 2024.

This is a perpetual contract, not ownership of the underlying asset. Leverage changes liquidation risk. Check the quoted collateral, funding and order costs before trading.

Trading feesMarket data documentation

Understand the trade before you place it

DCA Crypto: Dollar-Cost Averaging Explained

Learn crypto DCA with a three-purchase BTC example, average-cost calculations, fees and a comparison with investing the full amount at once.

Crypto Custody Models

Self-custody means the user controls the keys that move assets.

Slippage and Price Impact

In practice, slippage and price impact is where execution cost changes with liquidity and trade size.