diff --git a/dexs/ethereal-dex/index.ts b/dexs/ethereal-dex/index.ts
new file mode 100644
index 0000000000..cc6d5b574d
--- /dev/null
+++ b/dexs/ethereal-dex/index.ts
@@ -0,0 +1,55 @@
+import { SimpleAdapter, FetchOptions, FetchResult } from "../../adapters/types";
+import { CHAIN } from "../../helpers/chains";
+
+const FEE_ACCURED_EVENT = "event FeeAccrued(address indexed account, bytes32 indexed subaccount, address token, uint256 feeAmount, uint256 balance, uint64 messageIdx)";
+
+const ORDER_MATCHED_EVENT = "event PerpOrderMatched(uint32 indexed productId, address indexed maker, address indexed taker, bytes32 makerSubaccount, bytes32 takerSubaccount, uint8 makerSide, uint8 takerSide, uint128 fillQuantity, uint128 price, uint64 messageIdx)";
+
+const EXCHANGE_GATEWAY = "0xB3cDC82035C495c484C9fF11eD5f3Ff6d342e3cc";
+
+async function fetch(options: FetchOptions): Promise<FetchResult> {
+    const dailyFees = options.createBalances();
+    const dailyVolume = options.createBalances();
+
+    const feeAccuredLogs = await options.getLogs({
+        target: EXCHANGE_GATEWAY,
+        eventAbi: FEE_ACCURED_EVENT
+    });
+
+    const orderMatchedLogs = await options.getLogs({
+        target: EXCHANGE_GATEWAY,
+        eventAbi: ORDER_MATCHED_EVENT
+    });
+
+    feeAccuredLogs.forEach((fee: any) => {
+        dailyFees.addCGToken("ethena-usde", Number(fee.feeAmount) / 1e9);
+    });
+
+    orderMatchedLogs.forEach((order:any)=>{
+        dailyVolume.addCGToken("ethena-usde",(Number(order.fillQuantity)/1e9)*(Number(order.price)/1e9));
+    });
+
+    return {
+        dailyVolume,
+        dailyFees,
+        dailyRevenue: dailyFees,
+        dailyProtocolRevenue: dailyFees,
+    }
+}
+
+const methodology = {
+    Volume: "Ethereal perp trade volume",
+    Fees: "All trading fees paid by users",
+    Revenue: "All the fees is revenue",
+    ProtocolRevenue: "All the revenue goes to protocol",
+}
+
+const adapter: SimpleAdapter = {
+    version: 2,
+    fetch,
+    chains: [CHAIN.ETHEREAL],
+    methodology,
+    start: '2025-10-21'
+}
+
+export default adapter;
\ No newline at end of file
diff --git a/helpers/chains.ts b/helpers/chains.ts
index bcca12d3d7..840aecc315 100644
--- a/helpers/chains.ts
+++ b/helpers/chains.ts
@@ -272,4 +272,5 @@ export enum CHAIN {
   HIBACHI = "hibachi",
   SATORI = "satori",
   SHIBARIUM = "shibarium",
+  ETHEREAL = "ethereal",
 }
diff --git a/open-interest/ethereal-oi.ts b/open-interest/ethereal-oi.ts
new file mode 100644
index 0000000000..ce24fa2079
--- /dev/null
+++ b/open-interest/ethereal-oi.ts
@@ -0,0 +1,28 @@
+import { SimpleAdapter, FetchResult, FetchOptions } from "../adapters/types";
+import { CHAIN } from "../helpers/chains";
+import fetchUrl from "../utils/fetchURL";
+
+async function fetch(_a: any, _b: any, _c: FetchOptions): Promise<FetchResult> {
+
+    const tradeData = (await fetchUrl("https://api.ethereal.trade/v1/product")).data;
+
+    const marketPrice = (await fetchUrl(`https://api.ethereal.trade/v1/product/market-price?productIds=${tradeData.map((market: any) => market.id).join('&productIds=')}`)).data;
+
+    const openInterestAtEnd = tradeData.reduce((acc: number, market: any) => {
+        const price = + ((marketPrice.find((priceEntry: any) => market.id === priceEntry.productId))?.oraclePrice || 0);
+        acc+= price * +(market.openInterest || 0);
+        return acc;
+    }, 0);
+
+    return {
+        openInterestAtEnd,
+    }
+}
+
+const adapter: SimpleAdapter = {
+    chains: [CHAIN.ETHEREAL],
+    fetch,
+    runAtCurrTime: true
+}
+
+export default adapter;
\ No newline at end of file