Coinbase Seeks CFTC Approval for US Single-Stock Perpetual Futures

Coinbase Derivatives has filed with the Commodity Futures Trading Commission (CFTC) to approve its suite of cash-settled perpetual futures tied to individual U.S.-listed stocks and exchange-traded funds.

The contracts would trade on Coinbase Derivatives, use hourly funding, and be cleared through Nodal Clear. The proposed rate for the hourly funding payment is calculated from price readings taken every three minutes, smoothed against the prior hour, and capped at plus or minus 0.10% per hour.

Coinbase announced that it had filed for the 'first set' of U.S. single-stock perpetuals and said it was targeting 24/5 exposure. The company plans to list around 50-60 contracts, including Apple, Microsoft, Tesla, and Nvidia, with a launch later this year if regulators approve them.