A Nov. 12 snapshot showed Hyperliquid’s natural gas perpetual at $3.64, up 3.13% over 24 hours, despite a lower U.S. outlook for Henry Hub spot prices earlier in the week.
The $3.64 amount was the quoted price of Hyperliquid’s perpetual contract at that reading. For Henry Hub, the EIA projected a five-month spot-price average of $2.87 per million British thermal units for November 2026 through March 2027, 16% below its earlier estimate.
Funding stayed above zero in all 24 hourly periods, so payments flowed from long holders to short holders. At $10,000 of fixed long exposure, the estimated funding charge was about $197; the cumulative rate stood at 1.97%. The snapshot recorded about $38.42 million of trading volume; open interest was roughly $32.37 million when measured by notional value.
The EIA lowered the forecast Nov. 10. The agency pointed to warmer conditions in early November and higher anticipated storage; it also said rising production would put downward pressure on Henry Hub prices.
