Significantly, Binance’s equity perpetuals have offered stronger funding returns than major crypto markets recently. Ethena reported average equity funding near 17.5% between May 20 and August 11.
Ethena is partnering with @Binance as our first venue for the extension of the basis trade into equity perpetuals, one of the most exciting updates to the $USDe collateral backing since launch.
This expands the addressable market of underlying collateral from $2.5 trillion of… pic.twitter.com/be4Mz7XHk1
— Ethena (@ethena) September 25, 2026
However, funding conditions have weakened since then. Kairos Research found approved Binance equity contracts averaging about 7% annually on August 26.
New Risk Controls
Additionally, Binance gives eligible delta-neutral accounts lower auto-deleveraging priority. That arrangement could reduce certain risks during periods of severe market stress.
Moreover, Ethena’s Risk Committee requires sufficient open interest, funding history, and matching tokenized stocks. The framework excludes leveraged and inverse ETFs.
Ethena’s $USDe supply currently stands near $4.9 billion. Hence, the equity expansion could diversify its yield sources as crypto funding rates remain comparatively subdued.
Related: Bitcoin Records $2.52B Exchange Outflows in Three Days, Led by Binance
