Bybit ENS/USDT Funding Rate

ENS/USDT on Bybit has maintained a 86% positive rate frequency across 4,919 funding settlements since 2021-11-12. This translates to an annualized yield of 8.81% for delta-neutral positions.

The funding rate ranged from a low of -0.0906% to a high of 0.2321% per settlement period. With 8-hour intervals, Bybit settles this pair 3 times per day — each settlement is a tradeable event.

The consistently high positive rate (86%) indicates persistent long-side demand for ENSperpetual futures. This creates a structural alpha for short-side collectors — and a highly predictable binary market for Settled traders. When the current rate is positive, there is historically >95% probability the next settlement will also be positive.

Funding rates are periodic payments between long and short traders on perpetual futures contracts. When the rate is positive, longs pay shorts — indicating bullish sentiment and excess leverage on the long side. When negative, shorts pay longs.

Bybit settles ENS/USDT funding every 8 hours. The rate is determined by the premium/discount between the perpetual contract price and the spot index price. Over 4,919 historical settlements, we observe a strong positive bias — making this pair highly predictable for Settled markets.