For years, U.S. crypto traders have looked on as their international counterparts utilized one of the most popular tools in the digital asset marketplace: perpetual futures. These innovative derivatives, offering higher leverage while eliminating the need to navigate monthly expiration dates, dominate 90% of global crypto derivatives trading volumes. Due to a complex regulatory landscape, they remained just out of reach for traders in the United States. Until now.
We are thrilled to announce that U.S. customers, starting July 21, 2025, can trade CFTC-regulated perpetual futures via Coinbase Financial Markets (CFM), bringing one of the world's most traded derivatives to a secure and trusted crypto platform.
Two (2) perpetual futures contracts are currently available to trade:
nano Bitcoin Perpetual Futures (BTC-PERP)
nano Ether Perpetual Futures (ETH-PERP)
How does it work?
By trading perpetuals through Coinbase Financial Markets, you are operating in a CFTC-regulated environment with unique features designed for retail traders. This is a highly-anticipated product specifically developed to meet the needs of the U.S. market with:
No monthly expirations: Unlike traditional futures that have a set monthly or quarterly expiration date, perpetual futures on Coinbase are long-dated with expiration dates of 5 years. This allows you to maintain your market exposure for as long as you choose without the complexity of rolling over contracts on a monthly basis, enabling more flexible, long-term trading strategies.
Up to 10x leverage: U.S. traders can now access enhanced capital efficiency and amplify their market positions within a secure, regulated framework. For our newly launched crypto perpetual futures, you can trade with up to 10x intraday leverage. For metals futures, such as silver and gold, you can trade with up to 20x intraday leverage.
Low trading fees: We're making derivatives trading more accessible with fees as low as 0.02%* per contract.
Ready to explore the power of perpetual futures?
Traders will need to have an existing account on Coinbase before opening a Coinbase Financial Markets futures account. Here’s how to get started
Navigate to Coinbase and click “Get Started” to sign up for a Coinbase account.
If you already have a Coinbase account, just complete a short application to trade derivatives with Coinbase Financial Markets.
Once approved, you can begin trading.
*Trading fees are inclusive of exchange, clearing, and NFA fees. A minimum of $0.15 is charged per contract to cover these fixed costs.
Important Note: Trading in futures involves substantial risks. You should only trade in financial products that you are familiar with and understand the associated risks, and after carefully considering whether such trading is suitable in light of your investment experience, financial position, and investment objectives. Coinbase Derivatives Exchange closes every Friday from 5:00 to 6:00 PM ET, with an additional three-hour maintenance window each quarter.
Leverage in futures trading can work for you or against you. Increased leverage may result in increased losses. The risk of loss using leverage can exceed your initial investment amount.
Information provided is not investment advice. Futures accounts are maintained by Coinbase Financial Markets, Spot accounts are maintained by Coinbase Inc., which is not CFTC registered and is not a member of the National Futures Association. Funds held with Coinbase Inc. do not benefit from the CFTC’s customer protection regime. Access to the referenced financial products requires user eligibility, and may not be available in all jurisdictions. The risk of transacting in futures can be substantial and may not be suitable for everyone. Please review CFM Futures Risk Disclosure Statement for more information. Coinbase Financial Markets makes no representation on the suitability of information provided or to a particular financial product.
Futures products and services on Coinbase Advanced are offered by Coinbase Financial Markets, a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets.