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MethodologyBuilt for the perp degen community
Ethereal

Ethereal

Orderbook
Ethereum L2
Trade on Ethereal →

24h Volume

$31.9M

-31.8% 24h

Open Interest

$139M

Fee

0.020%Maker
0.050%Taker
Markets15
Leverage25×
CollateralUSDe, USDC
Funding1h

Ethereal — Daily Volume

Mar 2026 — Mar 2026 · 8 days

About Ethereal

On-chain perp DEX backed by Ethena ecosystem. Features unique integration with USDe stablecoin for yield-bearing collateral.

Pros

  • USDe integration for yield on collateral
  • Ethena ecosystem backing
  • Innovative margin model

Cons

  • USDe dependency
  • Newer platform
  • Limited market pairs

Airdrop

Status
Ethereal Points
TGE

2026

Community

15%

Pre-launch. Deposit program active for earning points before mainnet. Backed by Ethena ecosystem.

How to Farm

  • •Deposit USDe for Ethereal Points + 30x Ethena rewards
  • •Hold ENA tokens (15% of Ethereal token allocated to ENA holders)
  • •Trade perps on platform

Key Dates

Pre-deposits >$1.2B. Migration planned to Converge chain.

Backed By

Ethena

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Launched Oct 2025Audited