Coinbase Adds Hyperliquid Perpetuals With Up to 50x Leverage
Perpetual futures allow traders to take leveraged positions on crypto prices without an expiry date, making them a popular product among active investors while exposing users to heightened liquidation risk. Coinbase’s integration of Hyperliquid into the Base App extends the company’s offering beyond spot trading and adds derivatives to its broader Base ecosystem, as exchanges compete to capture demand for faster and more capital-efficient onchain markets.
Coinbase said eligible users can now trade crypto perpetual contracts in the Base App through Hyperliquid, with leverage of up to 50 times. The integration gives users access to more than 290 contract markets, substantially widening the range of leveraged assets available within the app. The rollout is aimed at meeting strong demand from active traders and positions Coinbase to offer a broader set of onchain trading products through a single interface.
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The history behind this eventCoinbase Backs Hyperliquid Stablecoin Push, Deepening DeFi Presence
Hyperliquid is a DeFi platform centered on onchain perpetual futures trading, with stablecoins underpinning its pricing, settlement and liquidity. By supporting USDC as the official quote asset, Coinbase can deepen its onchain trading presence and strengthen the market influence of the stablecoin issued with Circle.
As of July 19, 2026, Coinbase will serve as the official treasury deployer for USDC on Hyperliquid and manage its liquidity, while USDC will replace USDH. The supply of USDC on Hyperliquid's blockchain has approached $5 billion. The partnership could also boost demand for HYPE but put pressure on Coinbase's and Circle's profit margins.
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