This article addresses our US-regulated derivatives offering which is available to residents of the US and most countries in the European Economic Area ("EEA"). You can learn more about Coinbase's Derivatives products on the Derivatives help page. For US customers, derivatives balances are held with Coinbase Financial Markets (CFM), which is a CFTC registered futures commission merchant and a member of the National Futures Association. Spot balances are managed by Coinbase Inc. (CBI). Funds held with CBI do not benefit from the CFTC's customer protection regime.
In the EEA, this service is available only to eligible customers through Coinbase Financial Services Europe Ltd. (CBFSE). Access is subject to completion of CBFSE’s onboarding and verification requirements, including identity checks and the appropriateness and target market assessments applicable under the current CBFSE framework; if those requirements are not met, access may be refused, limited or withdrawn.. EEA Clients need to sign up for a Coinbase Luxembourg S.A. spot account in order to access CBFSE's offering.
Position limits ensure market stability, integrity and resiliency. These limits protect you from adverse market conditions, reducing extreme price volatility and manipulation, and maintaining an orderly marketplace. We review these limits periodically and adjust as market conditions evolve.
Maximum number of contracts
You will be assigned to a position limit tier based on your annual income and the net worth you have attested to in Settings. Your position limit tier determines the number of positions you can hold across contracts.
Increase your position limit tier
To increase your position limit tier, you must verify that you meet the financial requirements for the next tier. Your position size for a given contract includes existing positions as well as open orders, which could increase your position size if executed.
Note that maximums are subject to change with market conditions. The table shows the limits for each market (in number of contracts):
Contract | Tier 1 | Tier 2 | Tier 3 | Tier 4 | Tier 5 |
BTC futures | 100 | 750 | 1500 | 5000 | 15000 |
BTC perp-style futures | 100 | 750 | 1500 | 5000 | 15000 |
ETH futures | 100 | 750 | 1500 | 5000 | 15000 |
ETH perp-style futures | 100 | 750 | 1500 | 5000 | 15000 |
BCH futures | 40 | 80 | 120 | 160 | 200 |
BCH perp-style futures | 40 | 80 | 120 | 160 | 200 |
LTC futures | 40 | 80 | 120 | 160 | 200 |
LTC perp-style futures | 40 | 80 | 120 | 160 | 200 |
DOGE futures | 20 | 40 | 60 | 80 | 100 |
DOGE perp-style futures | 20 | 40 | 60 | 80 | 150 |
Oil futures | 45 | 55 | 60 | 70 | 135 |
Gold futures | 50 | 80 | 100 | 130 | 300 |
DOT futures | 20 | 40 | 60 | 80 | 100 |
DOT perp-style futures | 20 | 40 | 60 | 80 | 150 |
SHIB futures | 25 | 45 | 70 | 90 | 120 |
SHIB perp-style futures | 25 | 45 | 70 | 90 | 120 |
AVAX futures | 40 | 80 | 120 | 160 | 250 |
AVAX perp-style futures | 40 | 80 | 120 | 160 | 300 |
LINK futures | 25 | 50 | 75 | 100 | 125 |
LINK perp-style futures | 25 | 50 | 75 | 100 | 125 |
XLM futures | 20 | 40 | 60 | 80 | 100 |
XLM perp-style futures | 20 | 40 | 60 | 80 | 100 |
Silver futures | 20 | 40 | 60 | 80 | 150 |
HBAR futures | 10 | 20 | 30 | 40 | 50 |
HBAR perp-style futures | 10 | 20 | 30 | 40 | 75 |
XRP futures | 125 | 250 | 375 | 500 | 750 |
XRP perp-style futures | 125 | 250 | 375 | 500 | 750 |
SOL futures | 50 | 100 | 200 | 500 | 1000 |
SOL perp-style futures | 50 | 100 | 200 | 500 | 1000 |
ADA futures | 40 | 80 | 120 | 160 | 200 |
ADA perp-style futures | 40 | 80 | 120 | 160 | 200 |
Natural Gas futures | 10 | 12 | 14 | 16 | 20 |
MAG7C futures | 20 | 40 | 60 | 80 | 100 |
SUI futures | 10 | 20 | 30 | 40 | 50 |
SUI perp-style futures | 20 | 40 | 60 | 80 | 100 |
Copper futures | 3 | 3 | 5 | 10 | 15 |
Platinum futures | 3 | 3 | 5 | 7 | 10 |
PAXG futures | 20 | 40 | 50 | 60 | 70 |
PAXG perp-style futures | 20 | 40 | 50 | 60 | 70 |
ZEC futures | 20 | 40 | 60 | 80 | 100 |
ZEC perp-style futures | 80 | 160 | 240 | 320 | 400 |
PEPE futures | 10 | 20 | 30 | 40 | 50 |
PEPE perp-style futures | 10 | 20 | 30 | 40 | 50 |
AAVE futures | 10 | 20 | 30 | 40 | 50 |
AAVE perp-style futures | 10 | 20 | 30 | 40 | 50 |
ONDO futures | 20 | 40 | 60 | 80 | 100 |
ONDO perp-style futures | 20 | 40 | 60 | 80 | 100 |
ENA futures | 10 | 20 | 30 | 40 | 50 |
ENA perp-style futures | 10 | 20 | 30 | 40 | 50 |
NEAR futures | 10 | 20 | 30 | 40 | 50 |
NEAR perp-style futures | 10 | 20 | 30 | 40 | 50 |
Binance Coin futures | 10 | 20 | 40 | 60 | 80 |
Binance Coin perp-style futures | 10 | 20 | 40 | 60 | 80 |
Hyperliquid futures | 20 | 40 | 60 | 80 | 100 |
Hyperliquid perp-style futures | 20 | 40 | 60 | 80 | 100 |
AI Index perp-style futures | 20 | 40 | 60 | 80 | 100 |
China Index perp-style futures | 20 | 40 | 60 | 80 | 100 |
Defense Index perp-style futures | 20 | 40 | 60 | 80 | 100 |
Tech100 Index perp-style futures | 20 | 40 | 60 | 80 | 100 |
Other limits
In addition to contract level position limits, there may be other limits that apply, such as:
An initial margin limit, which considers the total margin required across all your open positions
An ecosystem limit for each contract, which considers the open notional value for a given contract, across all users
United States: Information provided is not investment advice. Funds held with Coinbase Inc. do not benefit from the CFTC’s customer protection regime. Access to the referenced financial products requires user eligibility, and may not be available in all jurisdictions. The risk of transacting in futures can be substantial and may not be suitable for everyone, possibly resulting in a loss of funds greater than the total amount of funds you have on deposit in your CFM account, together with any funds in your Coinbase Inc. account or any other accounts held with Coinbase affiliates. Leverage in futures trading can work for you or against you. The risk of loss using leverage can exceed your initial investment amount. Please review the CFM Futures Risk Disclosure Statement for more information. Coinbase Financial Markets makes no representation on the suitability of information provided or to a particular financial product.
Coinbase Financial Markets is a member of National Futures Association (NFA) and is subject to NFA's regulatory oversight and examinations. However, NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets.
Assets held in your CFM futures account will be segregated from CFM’s own assets. All customer assets held by CFM will be subject to customer protection regulations of the CFTC, including CFTC Rule 1.20. In the unlikely event of CFM’s bankruptcy, your futures account is protected under CFTC regulations, including Part 190 rules, and specific provisions of the U.S. Bankruptcy Code.
Any funds transferred to your Coinbase Inc spot account won’t receive the preferential treatment afforded to funds held in a regulated futures account pursuant to CFTC's regulations and the U.S. Bankruptcy Code.
European Economic Area: The information contained on this page does not constitute marketing material or a solicitation to trade in the products or services described here.
Derivatives trading is available to eligible EEA customers through Coinbase Financial Services Europe Ltd. (CySEC License 374/19). In order to access derivatives, customers will need to pass through our standard assessment checks to determine their eligibility and suitability for this product.
Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. Derivatives are complex instruments and are not suitable for most investors. You should consider whether derivatives are suitable for you, and seek independent professional advice if needed. The value of your product can go up and down, and your capital is at risk. You could lose all invested capital.
The products and services offered here may however not be available in your country, or may not be offered by Coinbase Financial Services Europe Ltd.
For eligible EEA customers, negative balance protection applies. Learn more here. If your deposit is in EUR, it will first be converted to USDC, and then USDC will be converted to USD.