Coinbase Completes Deribit Migration, Ending Trading on International Exchange

Coinbase has completed its migration of the International Exchange to Deribit, marking the end of trading on the former platform. The move, which began on October 1, leaves the old exchange in a read-only state and affects institutional API clients who must now use new endpoints and keys to access trading data.

The consolidation is expected to pool derivatives liquidity that was previously split across the two venues, although available products and access still depend on account type and location. Institutions using API or FIX connections need Deribit endpoints and newly created API keys, which will replace International Exchange keys that are no longer valid.

Migrated perpetual positions now settle daily at 08:00 UTC, replacing the International Exchange's five-minute cycle. Legacy trade and order APIs remain accessible for approximately 12 months after migration, allowing institutions to maintain separate records for activity before and after the switch.