Overview
- Contracts cover the Magnificent 7 stocks, with SPY and QQQ perpetuals available in certain jurisdictions, and they trade continuously without market-hour limits.
- All products are cash-settled in USDC, with up to 10x leverage on single-stock contracts and up to 20x on ETF contracts, and they run on Coinbase’s existing perpetual futures engine.
- Cross‑margining across perpetual futures and spot positions is supported to improve capital efficiency for both retail and institutional clients.
- Access is available via Coinbase Advanced for individuals and Coinbase International Exchange (Coinbase Bermuda) for institutions, with service restricted to non‑U.S. users and exclusions that include the U.K., Singapore, India, and Australia.
- Coinbase launched limited incentives, including a $200,000 USDC reward pool and temporary fee reductions, positioning the exchange as a centralized alternative to decentralized venues such as Hyperliquid.