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Coinbase Launches U.S. Perpetual Futures

The major exchange brings long‑dated, 24/7 regulated crypto derivatives onshore.

Jul 22, 2025 • 1 min read

Coinbase has launched CFTC‑regulated nano Bitcoin (0.01 BTC) and nano Ether (0.10 ETH) perpetual‑style futures, offering U.S. traders a homegrown alternative to offshore perpetual swaps.

What’s the Scoop?

First onshore perps: The debut marks the first U.S. perpetual-style crypto derivatives, filling a gap in regulated services for retail and institutional traders.
Contract mechanics: Trades run 24/7 over five-year terms, mimic spot-market pricing via hourly funding rates, and support up to 10× leverage. Coinbase emphasizes that these products reduce offshore counterparty and custody risks while offering capital-efficient trading.
Retail access & pricing: Taker fees begin at 0.02%, catering to smaller retail accounts with fractional exposures.
Competitive landscape: The move follows Kraken’s recent U.S. roll-out of perps, intensifying regulated derivatives competition—and boosted Coinbase equity sentiment.

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