Coinbase International Exchange

How much leverage is available to me if I am eligible to trade perpetual futures?

Eligible traders can now access leverage of up to 20x, with varying limits depending on the contract and the leverage applied. Leverage options range from the Default Leverage (Default Initial Margin) of each instrument up to 20x. The specific limits for each contract are provided in the table below. Additionally, there is a $15,000,000 cap on the combined notional value for all positions with leverage above the Default Leverage

Limits Per Contract:

Every contract offers a maximum leverage of 20x, and comes with distinct limits to ensure risk management and safeguard both users on the platform and International Exchange. The table below displays the maximum leverage and limits for each contract at 10x, 15x, and 20x per contract:

Market

Up to 5x Leverage Position Limit $

10x Leverage Position Limit $

15x Leverage Position Limit $

20x Leverage Position Limit $

1000BONK-PERP

$400,000

$150,000

$100,000

$50,000

1000FLOKI-PERP

$400,000

$150,000

$100,000

$50,000

1000MOG-PERP

$400,000

$150,000

$100,000

$50,000

1000PEPE-PERP

$400,000

$150,000

$100,000

$50,000

1000SATS-PERP

$400,000

$150,000

$100,000

$50,000

1000SHIB-PERP

$400,000

$150,000

$100,000

$50,000

1000TOSHI-PERP

$400,000

$150,000

$100,000

$50,000

AAVE-PERP

$400,000

$150,000

$100,000

$50,000

ADA-PERP

$5,000,000

$250,000

$125,000

$62,500

AEVO-PERP

$400,000

$150,000

$100,000

$50,000

AIXBT-PERP

$400,000

$150,000

$100,000

$50,000

ALGO-PERP

$400,000

$150,000

$100,000

$50,000

ALT-PERP

$400,000

$150,000

$100,000

$50,000

ANIME-PERP

$400,000

$150,000

$100,000

$50,000

APE-PERP

$400,000

$150,000

$100,000

$50,000

APT-PERP

$400,000

$150,000

$100,000

$50,000

ARB-PERP

$5,000,000

$250,000

$125,000

$62,500

ARKM-PERP

$400,000

$150,000

$100,000

$50,000

AR-PERP

$400,000

$150,000

$100,000

$50,000

ATOM-PERP

$400,000

$150,000

$100,000

$50,000

AVAX-PERP

$5,000,000

$250,000

$125,000

$62,500

BB-PERP

$400,000

$150,000

$100,000

$50,000

BCH-PERP

$5,000,000

$250,000

$125,000

$62,500

BIGTIME-PERP

$400,000

$150,000

$100,000

$50,000

BLAST-PERP

$400,000

$150,000

$100,000

$50,000

BLUR-PERP

$400,000

$150,000

$100,000

$50,000

BOME-PERP

$400,000

$150,000

$100,000

$50,000

BTC-PERP

$155,000,000

$25,000,000

$3,750,000

$2,500,000

CATI-PERP

$400,000

$150,000

$100,000

$50,000

CFX-PERP

$400,000

$150,000

$100,000

$50,000

COIN50-PERP

$8,500,000

$610,000

$270,000

$150,000

COW-PERP

$400,000

$150,000

$100,000

$50,000

CRV-PERP

$400,000

$150,000

$100,000

$50,000

DEGEN-PERP

$400,000

$150,000

$100,000

$50,000

DOGE-PERP

$5,000,000

$350,000

$125,000

$62,500

DOGS-PERP

$400,000

$150,000

$100,000

$50,000

DOT-PERP

$5,000,000

$250,000

$125,000

$62,500

DYDX-PERP

$400,000

$150,000

$100,000

$50,000

DYM-PERP

$400,000

$150,000

$100,000

$50,000

EIGEN-PERP

$400,000

$150,000

$100,000

$50,000

ENA-PERP

$5,000,000

$250,000

$125,000

$62,500

ENS-PERP

$400,000

$150,000

$100,000

$50,000

EOS-PERP

$400,000

$150,000

$100,000

$50,000

ETC-PERP

$5,000,000

$250,000

$125,000

$62,500

ETHFI-PERP

$400,000

$150,000

$100,000

$50,000

ETH-PERP

$70,000,000

$8,000,000

$3,750,000

$2,500,000

FET-PERP

$400,000

$150,000

$100,000

$50,000

FIL-PERP

$400,000

$150,000

$100,000

$50,000

FLOW-PERP

$400,000

$150,000

$100,000

$50,000

FTM-PERP

$400,000

$150,000

$100,000

$50,000

GIGA-PERP

$400,000

$150,000

$100,000

$50,000

GRT-PERP

$400,000

$150,000

$100,000

$50,000

HBAR-PERP

$400,000

$150,000

$100,000

$50,000

HMSTR-PERP

$400,000

$150,000

$100,000

$50,000

HNT-PERP

$400,000

$150,000

$100,000

$50,000

ICP-PERP

$400,000

$150,000

$100,000

$50,000

IMX-PERP

$400,000

$150,000

$100,000

$50,000

INJ-PERP

$400,000

$150,000

$100,000

$50,000

IO-PERP

$400,000

$150,000

$100,000

$50,000

JASMY-PERP

$400,000

$150,000

$100,000

$50,000

JTO-PERP

$400,000

$150,000

$100,000

$50,000

JUP-PERP

$400,000

$150,000

$100,000

$50,000

LDO-PERP

$400,000

$150,000

$100,000

$50,000

LINK-PERP

$5,000,000

$250,000

$125,000

$62,500

LTC-PERP

$5,000,000

$250,000

$125,000

$62,500

ME-PERP

$400,000

$150,000

$100,000

$50,000

MEME-PERP

$400,000

$150,000

$100,000

$50,000

MEW-PERP

$400,000

$150,000

$100,000

$50,000

MKR-PERP

$400,000

$150,000

$100,000

$50,000

MOODENG-PERP

$400,000

$150,000

$100,000

$50,000

MORPHO-PERP

$400,000

$150,000

$100,000

$50,000

MOVE-PERP

$400,000

$150,000

$100,000

$50,000

NEAR-PERP

$400,000

$150,000

$100,000

$50,000

NEIRO-PERP

$400,000

$150,000

$100,000

$50,000

NEO-PERP

$400,000

$150,000

$100,000

$50,000

NOT-PERP

$400,000

$150,000

$100,000

$50,000

OM-PERP

$400,000

$150,000

$100,000

$50,000

ONDO-PERP

$5,000,000

$250,000

$125,000

$62,500

OP-PERP

$5,000,000

$250,000

$125,000

$62,500

ORDI-PERP

$400,000

$150,000

$100,000

$50,000

PENGU-PERP

$400,000

$150,000

$100,000

$50,000

PENDLE-PERP

$400,000

$150,000

$100,000

$50,000

PEOPLE-PERP

$400,000

$150,000

$100,000

$50,000

PNUT-PERP

$400,000

$150,000

$100,000

$50,000

POL-PERP

$5,000,000

$250,000

$125,000

$62,500

POPCAT-PERP

$400,000

$150,000

$100,000

$50,000

PYTH-PERP

$400,000

$150,000

$100,000

$50,000

RAY-PERP

$400,000

$150,000

$100,000

$50,000

RENDER-PERP

$400,000

$150,000

$100,000

$50,000

RUNE-PERP

$400,000

$150,000

$100,000

$50,000

S-PERP

$400,000

$150,000

$100,000

$50,000

SAGA-PERP

$400,000

$150,000

$100,000

$50,000

SAND-PERP

$400,000

$150,000

$100,000

$50,000

SCR-PERP

$400,000

$150,000

$100,000

$50,000

SEI-PERP

$400,000

$150,000

$100,000

$50,000

SOL-PERP

$40,000,000

$350,000

$125,000

$62,500

STRK-PERP

$400,000

$150,000

$100,000

$50,000

STX-PERP

$400,000

$150,000

$100,000

$50,000

SUI-PERP

$5,000,000

$250,000

$125,000

$62,500

TAO-PERP

$5,000,000

$250,000

$125,000

$62,500

THETA-PERP

$400,000

$150,000

$100,000

$50,000

TIA-PERP

$400,000

$150,000

$100,000

$50,000

TNSR-PERP

$400,000

$150,000

$100,000

$50,000

TON-PERP

$400,000

$150,000

$100,000

$50,000

T-PERP

$400,000

$150,000

$100,000

$50,000

TRB-PERP

$400,000

$150,000

$100,000

$50,000

TRUMP-PERP

$400,000

$150,000

$100,000

$50,000

TURBO-PERP

$400,000

$150,000

$100,000

$50,000

UNI-PERP

$5,000,000

$250,000

$125,000

$62,500

VET-PERP

$400,000

$150,000

$100,000

$50,000

WIF-PERP

$400,000

$150,000

$100,000

$50,000

WLD-PERP

$400,000

$150,000

$100,000

$50,000

W-PERP

$400,000

$150,000

$100,000

$50,000

XLM-PERP

$5,000,000

$250,000

$125,000

$62,500

XRP-PERP

$14,000,000

$350,000

$125,000

$62,500

ZETA-PERP

$400,000

$150,000

$100,000

$50,000

ZK-PERP

$400,000

$150,000

$100,000

$50,000

ZRO-PERP

$400,000

$150,000

$100,000

$50,000

Leveraged Notional Value Limit
For positions utilizing leverage above the default leverage for each instrument, there are predefined caps on the notional value across all positions. These caps are set at the Ultimate Beneficial Owner (UBO) level to ensure effective risk management while allowing access to high-leverage trades. The UBO notional limits are as follows:

  • Below Default Leverage and above 10x: $15M

  • From 10x to above 15x: $10M

  • From 15x to above 20x: $7.5M

  • At 20x: $5M

What is the difference between the 'Maximum Notional Per Instrument' and 'Maximum Notional Across All Instruments'?
The $10M Maximum Notional Limit restricts the amount of 10x notional exposure across all instruments.

  • For example, assume the BTC and ETH Maximum Notional Limits are currently $5M each.

  • Traders are able to fully utilize the BTC and ETH Maximum Notional Limits at the Instrument Level, ($10M = $5M BTC + $5M ETH) as long as the notional does not exceed the $10M Maximum Notional allowed across all instruments at 10x.

What happens when a trader fully utilizes the account-level limits?

Once the account-level leverage limit is fully utilized, traders may still conduct transactions. However, new transactions will require Default Initial Margin (DIM) based on the specific instrument’s margin requirements. DIM requirements per instrument

Can I increase my leverage limits?

These limits are reviewed frequently - influenced by the exchange's order book depth, volumes, and stress testing results against insurance fund balances (assuming full utilization of our 20x program). We aim to provide best access to 20x leverage for customers, while balancing systemic risks for all traders associated with higher leverage trading. As the most trusted crypto brand, our independent Risk team conducts robust stress testing analysis that informs these limits.  As our exchange continues to gain market share and increase volumes, our Risk team will review for larger limits as we expand.