Overview
Coinbase is upgrading its derivatives trading infrastructure. Currently expected on Sept. 9, 2026 (subject to change), all perpetuals trading previously powered by Coinbase International Exchange will be handled through Deribit by Coinbase, a world-class derivatives exchange. For most Coinbase app and website users, this transition will happen automatically in the background, you don't need to do anything. Plus, crypto options trading will be available directly in the Coinbase app and website for eligible users in select jurisdictions.
Getting Started
Q: What is changing?
A: The underlying venue powering perpetuals trading in the Coinbase app and on coinbase.com is moving from Coinbase International Exchange to Deribit on September 9, 2026 (subject to change). Your core perpetual trading workflows will remain familiar, though some screens, product details, and market data may change.. Additionally, crypto options trading will be available for the first time directly in the Coinbase app for eligible users in select jurisdictions.
Q: Why is this happening?
A: Coinbase International Exchange and Deribit are coming together to create a unified, world-class derivatives platform. By combining Coinbase International Exchange's global reach with Deribit's industry-leading derivatives technology, we're delivering deeper liquidity, faster execution, a stronger risk framework, and new products like options, all within the platforms you already use.
Q: What is Deribit?
A: Deribit is a leading crypto derivatives exchange known for options. Deribit is now part of Coinbase, and its technology and liquidity will help power the upgraded derivatives experience.
Q: Do I need to do anything?
A: If you trade through the Coinbase app or website, the transition will happen automatically. You may notice a brief period of downtime (approximately 30 minutes) on September 9 while the migration completes. Open perpetual futures orders will be canceled during the transition window and will need to be re-entered afterward. If you trade via API, derivatives API trading moves to a new Deribit-powered json-rpc gateway. An API migration guide is available on Coinbase Developer Docs.
Q: What if I don't want to transition?
A: If you do not wish to migrate, you must close your account before August 28, 2026. If you do not close your account, you will be deemed to have accepted the new terms and the migration.
Your Account & Migration
Q: What happens to my open positions and balances?
A: Your open positions and balances will be automatically carried over on September 9, 2026. The migration is designed to preserve your economic exposure, using the settlement price as the reference point. Because the migration involves settling and reopening positions at a reference price, you may see a small immediate unrealized PnL when trading resumes as there will be downtime. This is expected and not an error — it reflects a normal artifact of the transition process, not a loss.
Q: Will I be charged any fees during the migration?
A: No. No trading or settlement fees will be charged during the migration. You may see a small unrealized PnL on your positions when trading resumes — this reflects a normal price difference at the time of migration and is not a fee or a loss.
Q: Will there be downtime?
A: Yes, there will be approximately 30 minutes of downtime on September 9, 2026 (subject to change) while positions are migrated. All open perpetual futures orders will be canceled during this window and must be re-entered afterward.
Q: Will my Coinbase account change?
A: No. Your Coinbase account remains your home base. You do not need to create a new account or log in to a different platform.
Q: Will I need to re-verify my identity (KYC)?
A: No. You do not need to re-verify your identity for the migration or to access options trading.
Q: Will my trading history be available?
A: Your trading history from INTX perpetual futures will remain accessible in transaction history. We recommend saving a copy of your perpetual futures trading activity before the migration if you need it for tax or reporting purposes.
New Products
Q: What new products will I have access to?
A: The headline new feature is options trading, available directly in the Coinbase app for eligible users in select jurisdictions starting September 9, 2026. You'll be able to trade listed options on BTC, ETH, and other assets. Your existing perpetuals trading continues seamlessly, now powered by deeper liquidity, Deribit's next-generation matching engine, and an enhanced risk framework. Eligible users may also see additional derivatives products over time, such as dated futures. Product availability will vary.
Q: Will options trading be available in my country?
A: Options will be available to eligible users in select jurisdictions outside the US at launch. Options trading for US-based users will be available in the coming months. You can check your eligibility directly in the Coinbase app.
Q: How do I access options trading?
A: Options trading will be available directly in the Coinbase app for eligible users in select jurisdictions starting September 9, 2026 (subject to change). No separate venue onboarding is required and it's integrated into the same app you already use.
Platform & Experience
Q: Will my trading interface change?
A: Your core trading workflows will remain familiar, but you may notice updates to certain pages, portfolio views, market data, and new product experiences.
Q: Will charting, price feeds, or market data change?
A: Yes. Market data and price feeds will be sourced from Deribit by Coinbase, so charts, marks, funding, and displayed prices may differ from what you saw previously.
Q: Can I still use the same funding methods (deposits/withdrawals)?
A: Yes. Your deposit and withdrawal methods for derivatives collateral will remain the same.
Q: Will the mobile app experience change?
A: Options trading and dated futures will be added to the Coinbase app and website. Your core perpetual futures trading workflows will remain familiar, though some screens, product details, and market data may change.
Q: Will my API integrations still work if I use the Coinbase Advanced Trade API?
A: Derivatives API trading moves to a new Deribit-powered json-rpc gateway. An API migration guide is available on Coinbase Developer Docs.
Perpetuals Mechanics
Q: Will the funding rate mechanism change?
A: Yes, a few things are changing. Previously, funding was charged or credited once per hour. On the upgraded platform, funding accrues continuously throughout the day, with the net amount settled once daily at 08:00 UTC.
The new system also introduces two guardrails. First, a clamp — if the market price is within ±0.025% of the index price, the funding rate drops to zero. In practice, this means you won't pay or receive funding during periods when the market is trading very close to fair value. Second, a cap — funding rates can't spike to extremes. The cap depends on what you're trading: ±0.5% for BTC, ±1.0% for ETH, and ±5.0% for USDC/USDT per 8-hour period.
For most users, the day-to-day experience will feel similar and you continue to pay or receive funding based on how far the market price is from the index price.
Q: Will the liquidation fee structure change?
A: No, the liquidation fee structure will remain the same.
Q: Will the insurance fund change?
A: The mechanics of the insurance fund will remain unchanged. And the combined platform will have a larger insurance fund, providing a more robust safety net for traders.
Other
Q: Will there be any fees associated with the migration itself?
A: No. No trading or settlement fees will be incurred during the migration process.
Q: Are there any tax implications from the migration?
A: The tax treatment of the migration will depend on your particular circumstances and your jurisdiction, so you should consult your tax advisor. If you need records for tax or reporting purposes, we recommend saving a copy of your trading history before the migration for your records. Coinbase does not provide tax advice.
Q: Who do I contact if I have questions?
A: Reach out through in-app support or visit the Coinbase Help Center
Important Information
This page is provided for general informational purposes only and does not constitute financial, investment, legal, tax, or accounting advice, or a recommendation to enter into any transaction.
Dates and availability. All dates, timelines, and milestones described above — including the transition/migration date — are current estimates and are subject to change, with notice where required.
Product availability (including options, dated futures, perpetuals, and spot) is being rolled out on a phased basis and may vary by product, platform, and over time. Some products and features may not launch on the dates indicated, or at all.
Eligibility and markets. Products and services are available only to eligible users in supported jurisdictions, and are subject to applicable eligibility and onboarding requirements. They are not available where prohibited by law. Eligibility and available products may differ depending on your location, account type, and the platform you use. Check the Coinbase app, website, or Deribit platform for what is available to you.
Providing entities. Depending on your account type and jurisdiction, derivatives products and related services are provided by different entities, including Coinbase Bermuda Limited (BMA regulated), Deribit FZE (VARA regulated), DRB Panama, Inc., and Coinbase Financial Markets, Inc (NFA member). Your relationship and applicable terms depend on the entity you contract with. Nothing here amends your existing agreements; in the event of any conflict, your applicable user/account agreements and the relevant platform trading rules govern.
Risk. Trading crypto assets and derivatives involves significant risk, including the use of leverage, and may result in the loss of some or all of your funds. Past performance is not indicative of future results. You should carefully consider whether trading is appropriate for you in light of your circumstances and financial resources.
Tax. The tax treatment of any transaction or migration depends on your individual circumstances and jurisdiction. Coinbase and Deribit do not provide tax advice; consult your own tax advisor.
This page may be updated from time to time. Statements regarding future products, features, or performance are forward-looking and subject to change.