diff --git a/indexer/services/ender/src/scripts/handlers/dydx_update_perpetual_v2_handler.sql b/indexer/services/ender/src/scripts/handlers/dydx_update_perpetual_v2_handler.sql
index df54fbeb39..efe4088713 100644
--- a/indexer/services/ender/src/scripts/handlers/dydx_update_perpetual_v2_handler.sql
+++ b/indexer/services/ender/src/scripts/handlers/dydx_update_perpetual_v2_handler.sql
@@ -24,7 +24,7 @@ BEGIN
       /* For backwards compatibility, handle the case where defaultFundingPpm is not present */
       CASE 
           /* Convert defaultFundingPpm from parts-per-million to a rate */
-          WHEN event_data ? 'defaultFunding8hrPpm' THEN dydx_trim_scale(
+          WHEN (event_data->>'defaultFunding8hrPpm') IS NOT NULL THEN dydx_trim_scale(
             power(10, PPM_EXPONENT) /
             FUNDING_RATE_FROM_PROTOCOL_IN_HOURS *
             (event_data->'defaultFunding8hrPpm')::numeric)