Overview:
Enabling futures trading on Coinbase Prime requires two sequential steps. Please note, clients must be onboarded and approved for Coinbase Prime Derivatives prior to completing these steps, and must have entity-level initiation permissions to complete the following in order:’
Step 1: Configure your entity with a Derivatives Funding Portfolio.
Step 2: Activate derivatives for each specific portfolio.
To begin, navigate to Settings → Entity → Portfolios and click Enable Derivatives Trading.
Your entity configuration establishes how derivatives margin is funded and managed across all portfolios. You will be prompted to set the following:
Derivatives Funding Portfolio (Required)
Select the portfolio that will serve as the funding source for your Futures account. This portfolio funds FCM margin calls and receives excess margin sweeps.
Transfer Windows: Occur on business days at 8am, 10am, 12pm, 2pm, 4pm, and 5pm ET.
Limit: Only one portfolio per entity can serve in this role.
Additional Settings (Optional but Recommended)
Auto-Return Excess Margin Balance: When enabled, any margin balance exceeding requirements is automatically returned to your Funding Portfolio.
Weekend Buying Power: Set a buffer amount to maintain in your Futures account. This is useful for weekend trading or avoiding intraday delays.
Note: You can only withdraw/sweep funds that exceed this target.
Auto-Convert USDC to Meet Margin Call: Automatically converts USDC in your Funding Portfolio to USD to cover margin calls.
Auto-Initiate Loans to Meet Margin Call: (Portfolio Margin clients only) Allows Coinbase affiliates to initiate loans on your behalf to meet margin calls per your Lending Agreement.
Once reviewed, click Initiate Changes. This triggers an approval workflow based on your Entity Policy. Monitor progress under Activity Details.
Once the entity configuration is approved, you can activate individual portfolios. Navigate to Entity → Portfolios to view the Derivatives Status column:
Status | Description |
Inactive | Trading is not yet enabled. Click Activate Derivatives to begin. |
Pending | An activation request is awaiting approval. |
Activated | Derivatives trading is live for this portfolio. |
To Activate a Portfolio:
Click Activate Derivatives next to the desired portfolio.
In the modal, confirm the portfolio and toggle Derivatives Trading to ON.
Click Initiate Changes to submit the request for approval.
Note: You can activate derivatives on multiple portfolios; however, each activation is submitted and approved independently.
Once a portfolio is activated, you can trade US Listed Futures through Coinbase Financial Markets directly from that portfolio. Margin calls will be issued based on end-of-day positions and funded automatically from your designated Funding Portfolio.
Need Help?
If you have questions regarding your configuration, please contact your Coinbase Account Manager or email primeops@coinbase.com.
Note: Derivatives trading in the US is offered by Coinbase Financial Markets, Inc. (CFM), an NFA-registered Futures Commission Merchant.
Disclaimer: Trading in futures involves substantial risks. You should only trade in financial products that you are familiar with and understand the associated risks, and after carefully considering whether such trading is suitable in light of your investment experience, financial position, and investment objectives. Leverage in futures trading can work for you or against you. The risk of loss using leverage can exceed your initial investment amount. Derivatives are offered by Coinbase Financial Markets, a member of NFA and is subject to NFA’s regulatory oversight and examinations