Coinbase has gone live with stock perpetual futures, giving traders round-the-clock access to major U.S. stocks and ETFs with leverage. The product ranks among the first such offerings from a large centralized exchange.
Stocks and ETFs Available at Launch
Traders can now take synthetic long or short positions on Apple, Microsoft, Amazon, NVIDIA, Tesla, Meta, and Alphabet. ETF-based contracts include the S&P 500 (SPY) and Nasdaq-100 (QQQ), where regulations permit. The perpetual structure means no expiry, enabling continuous holding. Coinbase said the move aims to merge the 24/7 nature of crypto markets with traditional equities, addressing demand from both retail and institutional investors outside standard U.S. trading hours.
Leverage, Settlement, and Risk Controls
Single-stock perpetuals carry up to 10x leverage, while ETF contracts go up to 20x. All trades settle in USDC, and cross-margining is available across derivatives and spot positions. Coinbase's advanced trading tools and APIs support algorithmic strategies, and the international exchange (Coinbase Bermuda) also offers the product under regulation by the Bermuda Monetary Authority.
Why 24/7 Equities Matter
Traditional U.S. stock markets operate on a fixed schedule, leaving non-U.S. investors and event-driven traders with limited windows. Coinbase's perpetual futures run 24/7, letting users react to global news at any time, including weekends. For institutional players, the product provides a new hedging tool outside regular hours. Until now, much of this demand was met by decentralized platforms; Coinbase seeks to bring it into a regulated environment.
The launch is part of Coinbase's broader "Everything Exchange" vision, which aims to combine crypto, traditional assets, and novel financial products on a single platform.
Separately, Coinbase has rolled out regulated crypto futures across 26 European countries via its MiFID‑licensed entity, covering Germany, France, and the Netherlands. Together, these moves expand the company's global derivatives footprint.