This article addresses our Global Derivatives offering, which is currently only available to eligible customers in supported regions outside of the U.S. Learn more about Coinbase's Derivatives products
Eligible customers can earn up to 12% APY on eligible USDC balances in their Global Derivatives portfolio. Boosted rewards rate and balance caps depend on the total notional value of your qualifying open perpetual futures positions. Dated futures and options positions do not count toward your boosted rewards tier. Eligible customers are automatically opted in.
To be eligible, you must:
Be a customer in an eligible country.
Have onboarded to Global Derivatives.
Have at least $1 USDC balance in your Global Derivatives portfolio.
Have an account in good standing and have completed identity verification (KYC).
Note: There’s no extra fee to enroll in the USDC program. The rate is subject to change or discontinuation at any time.
Important
USDC is a digital currency, not legal tender. Coinbase does not have the right to use any USDC you hold in your account, and USDC balances are not considered deposit accounts. Your USDC balance is not insured by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).
Void where prohibited or if Coinbase determines that the customer is not eligible for the offer.
All new user accounts are subject to internal policy reviews, and upon such review, Coinbase reserves the right to withhold the incentive payout for any reason, at its sole discretion.
How it works
Rewards are calculated using hourly snapshots of your eligible USDC balance and qualifying open perpetual futures positions. They accrue daily. Your rewards may change as your balance and open positions change. The rate displayed in your account reflects your current circumstances. Rewards are paid on a weekly basis and are deposited into the Global Derivatives portfolio.
Rewards caps
Each boosted rewards tier has a USDC balance cap. The boosted rate applies to eligible USDC up to your tier’s cap. Any eligible balance above that cap earns the applicable base rate. If you do not qualify for a boosted tier, your eligible USDC balance earns the base rate.
View the current rates, qualifying open-position thresholds, and balance caps in your account’s USDC rewards details. Rates and caps are subject to change.
View APY and rewards
View the current effective APY on the Portfolio page and paid rewards in Transactions.