Coinbase Launches Perpetual Futures for U.S. Traders with Low Fees and High Leverage

Highlights:

• Coinbase is now offering perpetual futures to U.S. users with two initial offers.
• Traders can access nano Bitcoin and Ether futures with low fees and a simple approval process on Coinbase.
• Coinbase enters the U.S. derivatives market to compete with offshore platforms and support institutional adoption.

Coinbase Financial Markets has introduced new futures contracts for retail traders in the United States. This is the first time U.S. customers can trade contracts that do not have a monthly expiry duration through a domestic platform. The initial offering includes nano Bitcoin (BTC-PERP) and nano Ether (ETH-PERP) futures. Both allow users to maintain open positions for up to five years without rolling them forward.

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Coinbase has announced that starting July 21st, 2025, US investors will have access to CFTC-regulated perpetual futures through its Coinbase Financial Markets (CFM) platform. 

Historically, US traders have been restricted from participating in perpetual futures due to stringent… pic.twitter.com/bY6gl41rPA

— UseTheBitcoin 🚀🌕 (@usethebitcoin) July 22, 2025

To access the products, users must complete account verification and a short application process. The platform provides up to 10x leverage on crypto contracts and up to 20x on metals like gold and silver. Trading fees begin at 0.02% per contract, which includes all charges. Each transaction carries a minimum cost of $0.15. These fees position Coinbase competitively against platforms operating outside the U.S.

Coinbase has been modeling these contracts based on those used by the offshore exchanges. Nevertheless, the company developed them in a way that did not contravene domestic standards. These instruments are open-ended and cash-settled as opposed to monthly expiring contracts in the traditional marketplace. This model supports more flexible trading strategies for U.S. retail users.

The launch caused the stock to rise 1.95% yesterday and close at $419.98. However, the COIN stock is down 1.47% at the time of writing. The previous week, the stock had reached a record high of $436. That increase followed the signing of the GENIUS Act, which supports stablecoin operations and benefits exchanges offering crypto services. The new contracts mark an expansion in Coinbase’s strategy to serve domestic markets more effectively.

Coinbase Takes Aim at Offshore Competitors in the Crypto Derivatives Space

Coinbase will now compete with other exchanges that are not based in the country, which dominate crypto futures trading. These platforms lead in volume because they have offered perpetual products for years. Until now, many U.S. traders turned to offshore venues due to limited options at home. Coinbase now offers a domestic alternative with better access and lower trading costs.

The company has structured its contracts to match the trading experience found on global platforms. Users can trade without worrying about expiry dates or contract rollover. These instruments also provide access to high leverage, allowing traders to manage risk or pursue returns efficiently. Unlike foreign services, Coinbase enforces account verification and an approval step for every user.

Coinbase processed $5 billion in perpetual futures volume through its international exchange during May. With this launch, the company hopes to bring that activity onshore. Global data shows that derivatives make up around 75% of crypto trading volume, revealing a strong demand for futures products. Coinbase positions its exchange as a secure and user-friendly option available to high-volume traders within the United States.

Perpetual Futures Debut Boosts Coinbase Stock and Institutional Confidence

The verified users are able to trade on these products using margin and no expiry of contracts. Crypto instruments have a maximum leverage of 10x. The capped leverage facilitates responsible risk management. This launch came soon after Kraken launched a similar product earlier. The GENIUS Act has also contributed to the strengthening of platforms providing structured crypto services. The company intends to grow its offerings while keeping risk controls in place.

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