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Canonical perps are HyENA's standard perpetual markets for established assets that have deep liquidity on major centralized exchanges. Examples include BTC-USD, ETH-USD, SOL-USD, and similar blue-chip assets.
HyENA re-uses the published oracle prices from Hyperliquid. The oracle price for a canonical HyENA perp (e.g., BTC-USD) matches the oracle price of the corresponding perp on Hyperliquid.
On Hyperliquid, oracle prices are a weighted median of CEX prices, updated by validators approximately once every three seconds.
Canonical perps use the shared 4-component mark price formula.
1 — Oracle + 150s EMA of basis
Oracle = Hyperliquid canonical oracle; Mid = HyENA DEX mid-price
2 — DEX book median
median(best_bid, best_ask, last_trade) on HyENA
3 — External perp median
Weighted median of Binance, OKX, Bybit, Gate.io, MEXC perp mid-prices (weights 3, 2, 2, 1, 1)
4 — 30s EMA of Component 2
Included only when fewer than 3 main components are present
The final mark price is the median of all available components.
Standard Hyperliquid funding rate calculation. No dampening is applied.
None. Canonical perps follow the same behavior as their Hyperliquid counterparts with HyENA's own DEX book data substituted into the mark price formula.
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