Eligible customers can earn up to 12% APY on the USDC in their perpetuals portfolio. You’ll automatically be opted in.
To be eligible, you must:
Be a customer in an eligible country.
Have onboarded to Derivatives.
Have at least $1 USDC balance in your Perpetuals portfolio.
Your account must be in good standing, and passed 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 accrue after onboarding to perpetual futures and funding the portfolio with USDC.
We calculate USDC balances daily and rewards accrue daily. These are paid on a weekly basis. USDC rewards are deposited into the perpetuals portfolio.
Rewards caps
The 12% rate is paid on balances in the perpetuals portfolio up to $10K USDC.
Balances above $10K USDC earn the base rate.
Example: If the USDC balance in your perpetuals portfolio is $20K USDC, then for $10K USDC you earn 12%, and for the remaining $10K you earn the base rate of 4.1%. Your APY for $20K USDC is 8.05%.
View APY and rewards
View the current effective APY on the portfolio page and paid rewards in Transactions.