ETHFI-PERPCrypto · DeFiTrade ether.fi (ETHFI) Perpetual Futures
Go long or short on ether.fi with up to 100x leverage. No KYC, no sign-up: connect your wallet and trade 24/7.
- No KYC
- No sign-up
- Self-custody
- Up to 100x leverage
- Mark price
- 0.6204
- 24h high
- 0.6474
- 24h low
- 0.6128
- 24h volume
- 122K USDT
ether.fi is a decentralized liquid staking and restaking protocol built on Ethereum. Users deposit ETH and receive eETH, or its wrapped form weETH, a token that represents their staked ETH and accrues staking rewards while remaining usable across decentralized finance. A distinguishing feature is that stakers keep control of their validator keys, rather than handing them entirely to the protocol, which ether.fi presents as a less custodial approach to staking.
Through restaking, the ETH deposited in ether.fi can also help secure other services built on EigenLayer, earning additional rewards in exchange for taking on additional risk. Around this core the protocol has added yield vaults and a crypto spending card, expanding from staking into a broader financial product suite. The project was founded by Mike Silagadze.
ETHFI is the protocol's governance token, launched in 2024. Holders can vote on proposals through the ether.fi DAO, and the protocol has used a portion of its revenue to buy back ETHFI for stakers. Traders follow ETHFI as a way to gain exposure to the growth of liquid restaking and the wider Ethereum staking economy.
ETHFI is closely tied to Ethereum. The price of ETH, demand for staking, and the yields available from staking and restaking all affect how much capital flows into ether.fi, and total value locked in the protocol is a figure traders watch closely. News from EigenLayer and the restaking sector, such as changes to rewards or the launch of new services that pay restakers, can move the token as well.
Protocol revenue and how it is used matter too. DAO decisions about ETHFI buybacks and staking rewards change the balance of supply and demand. Token unlocks for early investors and contributors, competition from other liquid staking and restaking providers, and smart contract or slashing risks round out the main drivers.
The ETHFI perpetual is a futures contract on the price of ether.fi with no expiry date. You never own ether.fi itself: you go long if you expect the price to rise or short if you expect it to fall, and settle profit and loss in USDT.
You choose your leverage, up to 100x. Margin is cross: your whole perpetual balance backs every open position. Positions are valued at a mark price taken from market data, which can differ from the last trade, and an order more than 20% away from the mark price is rejected.
- 1Connect a wallet. Connect MetaMask, or log in with email or Google, and sign the login message.
- 2Deposit USDT. Deposit USDT and move it to your perpetual account to use as margin.
- 3Choose long or short and your leverage. Open the ETHFI market, pick a direction and leverage, and place a market or limit order.
- 4Manage the position. Set a take-profit or stop-loss, add margin, or close the position whenever you like.
| Topic | Max Orion | Centralized exchange |
|---|---|---|
| Sign-up | No KYC: connect a wallet and sign a message | Email, password and identity checks |
| Your account | Your wallet address is your account | A username held by the exchange |
| Orders | Every order is signed by your wallet | Orders sent under a logged-in session |
| Hours | Crypto, gold and oil, 24/7 | Commodities often follow market hours |
Leverage multiplies losses as well as gains. If the ether.fi price moves against your position far enough that your perpetual balance, including unrealized losses, falls below the maintenance margin, positions are closed automatically at the prevailing price and you can lose your whole balance. A stop-loss becomes a market order when triggered and is not guaranteed to fill at its price. Only trade with money you can afford to lose. ETHFI tends to be noticeably more volatile than large caps, often moving further than ETH in both directions.
Frequently asked questions
A ETHFI perpetual is a futures contract on the price of ether.fi with no expiry date. You go long if you expect the price to rise or short if you expect it to fall, post margin in USDT, and keep the position open for as long as your margin covers it.
You can trade ether.fi perpetuals with up to 100x leverage. The higher the leverage, the smaller the price move against you that liquidates the position.
No. There is no KYC and no sign-up form. You connect a wallet and sign a message to log in — self-custody wallet sign-in, with no password — then deposit USDT to start trading.
Every market settles in USDT, with cross margin: your whole perpetual balance backs all of your open positions, so a profit on one adds margin to the others and a loss on one reduces the margin left for all of them.
A perpetual has no expiry, so a periodic funding payment between longs and shorts keeps its price close to the underlying market. When the perpetual trades above the underlying, longs pay shorts; when it trades below, shorts pay longs.
A maker order, which waits in the order book, pays 0.02% of its value. A taker order, which fills immediately, pays 0.06%.
Leverage multiplies losses as well as gains. If the price moves against your position far enough that your margin no longer covers it, the position is liquidated and the margin is lost. Only trade with money you can afford to lose.
