10x Leverage and Perpetual Trading

The newly introduced futures include contracts for Bitcoin (BTC-PERP) and Ethereum (ETH-PERP). These contracts allow investors to trade with up to 10x leverage and without an expiry date. The taker fee starts as low as 0.02%.

Perpetual contracts make up a significant portion of the global crypto derivatives volume. With this move, Coinbase aims to lead a new era focused on legal transparency and security, encouraging U.S. users to shift away from unregulated platforms.

24/7 Trading Under Regulatory Oversight

Coinbase’s new derivatives are structured to comply with CFTC standards while maintaining the core features of perpetual contracts. Technically set with a five-year maturity, these contracts are balanced via hourly funding rates between long and short positions. All trades are conducted in USD and are available 24/7, aligning with the round-the-clock nature of crypto markets.

U.S. Exchanges Fight Back Against Offshore Competition

This step is part of Coinbase’s broader strategy to regain market share in the global derivatives sector. The company recently acquired Deribit for $2.9 billion, reinforcing its ambition in this space. Similarly, Kraken has quietly rolled out its own CFTC-compliant perpetual products via Kraken Pro.

Coinbase also announced that it will expand beyond BTC and ETH, hinting at upcoming altcoin perpetual products such as those for Solana and XRP.

Additionally, the platform now offers leveraged trading—up to 20x—on commodities like gold and silver, catering to investors looking to diversify across different asset classes.

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