Ethereal lists 18 perp markets and quotes leverage up to 50x on Ethereal · Arbitrum · Ethereum. The base-tier schedule is maker 0% / taker 0.03% with funding 1h.
Ethereal is a perpetuals exchange built on its own Ethereal chain, with additional paths through Arbitrum and Ethereum. It launched in 2025 and does not run its own token.
The venue lists 18 crypto perpetual markets on a flat fee schedule with no volume tiers, and routes a share of trading fees back to USDe holders through a weekly rewards pool. Its terms describe identity or documentation requests as a possibility.
Funding is sampled throughout each hour and settles once, at the start of the next hour, as a single averaged charge. The rate is measured against execution prices deep enough to fill a meaningful order, and is held inside a small dead zone plus a per-market cap so very small imbalances round down to no charge; if a payment fails to process in the first moments of the new hour, that hour's funding is dropped.
Ethereal signs traders in with a browser wallet, and the venue is non-custodial.
Up to 50x on listed markets.
Ethereal names 11 restricted jurisdictions in its terms.
Fees, leverage, sign-up and markets on other perp DEXes.
Perpetual markets for stocks, gold, indices and pre-IPO names — settled on-chain, no wallet-to-exchange transfers.
