This study investigates the structure of conical detonations in premixed ethylene–air mixtures through two complementary approaches. First, a control volume-based model identifies the weakly overdriven region for stable wave formation, showing dependence on the inflow Mach number and highlighting the impact of incomplete heat release. Second, high-fidelity simulations with multistep chemical kinetics capture the formation of surface instabilities and the nature of the detonation waves. The thermodynamic analysis tool, validated against experimental data, computes detonation polars using a multi-species gas description and provides crucial insights into post-detonation properties and deflection angles for various cone half-angles. The results indicate that the regime of weakly overdriven detonations is confined by flow conditions and turning angles, with net heat release diminishing as these parameters increase. For the highest Mach number and turning angle considered, the heat release is observed to be less than 25% of the reaction enthalpy for the mixture. High-fidelity simulations corroborate the thermodynamic analysis and further demonstrate the formation of cellular instabilities on the detonation surface. For a conical system characterized by significant isentropic expansion and weaker initial shock compared to two-dimensional wedges, transverse waves reflecting off the cone surface lead to the formation of triple points, which catalyze instabilities. The overall detonation structure in conical systems is similar to that of two-dimensional wedge-based oblique detonations and planar cellular detonations.