Oracle Price and Mark Price

Oracle Provider

[Redacted until public announcement] is the primary oracle updater for HyENA perps. HyENA is also running with a backup oracle provider as failsafe.

Oracle Price

Oracle price is used to compute funding rates and is also a component of the mark price calculation. On Hyperliquid, the oracle price is a weighted median of CEX prices. Oracle prices are updated by the validators approximately once every three seconds.

HyENA will re-use published oracle prices from Hyperliquid. i.e. the oracle price for the BTC-USD perp on HyENA will match the oracle price of the BTC-USD perp on Hyperliquid.

Mark Price

HyENA will be mirroring Hyperliquid’s mark price calculation logic.

Mark price for each perp market is the median of the following prices:

• Oracle price plus a 150 second exponential moving average (EMA) of the difference between HyENA’s mid price and the oracle price

• The median of best bid, best ask, last trade on HyENA

• Median of Binance, OKX, Bybit, Gate IO, MEXC perp mid prices with weights 3, 2, 2, 1, 1, respectively

The mark price calculation is subject to change over time. Up to date details will be maintained on the HyENA website and docs, and with advanced notice.