Nov. 12 Snapshot Shows Hyperliquid NATGAS Up 3.13% as Longs Pay 1.97% Funding

Hyperliquid’s NATGAS natural gas perpetual contract was quoted at $3.64, up 3.13% over 24 hours in a Nov. 12 snapshot, while long traders paid 1.97% cumulative funding.

Across all 24 hourly intervals, funding was positive, meaning traders with long positions paid those holding shorts throughout the period. For a fixed $10,000 notional long position, the total cost was about $197.

One hourly interval reached a funding rate of 0.1693%, while the hourly reference rate later eased to about 0.0413%. The snapshot also listed trading volume at about $38.42 million and open interest at roughly $32.37 million in notional value.

On Nov. 10, the U.S. Energy Information Administration (EIA) cut its average Henry Hub spot-price forecast for November 2026 through March 2027 by 16% to $2.87 per million British thermal units (MMBtu). The agency cited warmer weather early in November and higher expected storage; its outlook also said production growth would pressure Henry Hub prices.

The $3.64 contract quote and $2.87 forecast measure different things: a perpetual contract price and a five-month average Henry Hub spot price.