Coinbase Shakes Up Crypto Markets: U.S. Perpetual Futures Launch July 21

Wall Street meets Web3 as Coinbase rolls out perpetual futures for U.S. traders—just when the SEC thought derivatives were someone else's problem.

The move catapults America's largest crypto exchange into direct competition with offshore platforms that have dominated leveraged trading. No more VPN gymnastics required.

Market makers are already salivating over the arbitrage opportunities. Retail traders? They'll probably blow their accounts faster than you can say '100x leverage.'

One industry insider quipped: 'Finally, a regulated way to lose your life savings without breaking U.S. law.'

U.S. Regulation Meets Global Demand

While traditional perpetual swaps remain banned for U.S. traders, Coinbase’s instruments will replicate their functionality by combining long-dated five-year futures with a built-in funding rate mechanism. This rate accrues hourly and is settled twice daily, aligning the contract price with spot market movements — a key feature of offshore perpetuals.

The contracts will be available for trading 24/7, with all settlements managed via regulated clearing infrastructure, ensuring compliance and operational transparency.

With this move, Coinbase is stepping into a space largely dominated by offshore platforms, bringing regulated access to complex derivatives products for U.S.-based traders.

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A Milestone for Crypto Derivatives in the U.S.

Perpetual-style contracts account for the majority of global crypto derivatives volume but have long been unavailable in the U.S. due to regulatory restrictions. Coinbase’s launch of a compliant version marks a significant development in bridging that gap.

The exchange has not yet disclosed margin requirements or supported leverage tiers but is expected to release full contract specifications closer to launch day.

As Coinbase continues expanding its derivatives footprint, this new product could set the stage for broader institutional and retail participation in regulated crypto futures markets within the U.S.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.

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