20x use will be available for the new US500 equity index perpetual futures contract launching on August 17. Coinbase Derivatives is expanding its offering by introducing this product that tracks the S&P 500 benchmark, allowing US traders to access one of the most liquid equity indexes through a crypto-native platform.
The exchange has been steadily pushing boundaries since enabling 24/7 margined futures trading in May 2025. This latest launch follows earlier products including the Mag7 + Crypto Equity Index Futures introduced in September 2025, which combined major tech stocks and crypto assets into a single quarterly contract. June 2026 saw the debut of perpetual-style equity index futures focused on AI, defense, and the Nasdaq-100. The US500 contract rounds out Coinbase's suite with exposure to a broader market.
Unlike traditional futures that have expiry dates, perpetual futures have no expiration, enabling traders to hold positions indefinitely while paying or receiving regular funding to keep prices aligned with the underlying index. With up to 20 times use, traders can control $20 of exposure for each dollar of margin they post, which means risks and rewards can escalate quickly. Also, periodic funding rates can become costly during volatile market swings.
Coinbase is also working on integrating USDC as collateral for these futures, pending regulatory approval from the CFTC, which would let traders use a stablecoin instead of fiat margin. This move follows Coinbase’s earlier efforts to fuse crypto and traditional finance, as seen in the combination of tech stocks and crypto assets in its Mag7 + Crypto futures.
No trading data is available yet since the contract only goes live in mid-August, but the launch marks a notable step in offering sophisticated equity exposure on a regulated crypto platform.
This material is for informational purposes and does not constitute financial advice.
