Coinbase Launches Perpetual Futures Trading with Up to 50x Leverage

Coinbase has launched perpetual futures trading within its Base App, allowing eligible users to access up to 50x leverage across crypto and tokenized equity markets. This feature is currently unavailable in the U.S., the U.K., and Canada but may become available soon as crypto regulations are being overhauled.

The backend of this new feature will be handled by Hyperliquid, a popular decentralized crypto derivatives exchange. The launch comes as nearly $3 billion in leveraged crypto positions were liquidated on August 19, the biggest single-day wipeout since October 2025.

This increased leverage can lead to more volatility in the market, with smaller sums of capital able to make larger impacts relative to a crypto's market cap. Perpetual futures are hard to access in the U.S. for now, but owning Coinbase stock or Hyperliquid's coin may be sufficient to capture some of the upside.