Coinbase introduces stock perpetual futures contracts for non-U.S. customers
The contracts trade 24/7, are cash-settled in USDC and allow for up to 10-times leverage on single-stock contracts and 20-times on ETF products.
By Francisco Rodrigues|Edited by Sheldon Reback Mar 20, 2026, 12:51 p.m.
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What to know:
- Coinbase said it's offering perpetual stock futures to non-U.S. traders, allowing them to take leveraged positions on large-cap companies including Apple, Microsoft and Tesla, as well as on ETFs tracking the S&P 500 and Nasdaq indexes.
- The contracts trade 24/7, are cash-settled in USDC and allow for up to 10-times leverage on single-stock contracts and 20-times on ETF products.
- The move is part of Coinbase's push to become the "Everything Exchange," which has led it to expand its product offerings.
Coinbase (COIN) said it began offering perpetual stock futures to eligible non-U.S. retail and institutional traders, extending its derivatives product line into U.S. equities.
The contracts let traders take leveraged positions on a group of large-cap U.S. stocks, colloquially known as the Magnificent 7: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla. Perpetual futures tied to the SPY and QQQ exchange-traded funds, which track the S&P 500 and Nasdaq 100 indices, are also available in some jurisdictions, the exchange said in a Friday blog post.
Unlike standard futures contracts, perpetual futures have no expiry date. Coinbase's contracts are cash-settled in USDC, a dollar-pegged stablecoin issued by Circle Internet (CRCL).
Coinbase said traders can use up to 10-times leverage on single-stock contracts and up to 20-times on ETF products. Demand for round-the-clock equity exposure, it added, has been growing rapidly, and most of the offerings have been concentrated on decentralized platforms.
The largest such decentralized platform is Hyperliquid, which earlier this week introduced S&P 500 perpetual futures contracts. The platform has become a hotbed for contracts tied to traditional financial instruments, including oil-linked contracts that are trading round-the-clock as war erupts in the Middle East.
Coinbase also said the product uses the same risk engine that supports its crypto derivatives markets, with cross-margining across perpetual futures and spot positions.
The move comes as the exchange expands the range of assets available on its platform as part of a bid to become the “Everything Exchange.”
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