Coinbase introduces perpetual contracts to its Base App via Hyperliquid, supporting up to 50x leverage.

Coinbase announced it is introducing perpetual contract trading to Base App via Hyperliquid. Eligible users can trade over 290 perpetual contract markets, with up to 50x leverage, covering Bitcoin, Ethereum, and markets linked to stocks and commodities. Chintan Turakhia, Coinbase’s head of engineering, noted that perpetual contracts currently account for roughly 75% of total crypto market trading volume, and are the most requested feature among Base App’s power users. Trades will be executed within Base App, though Hyperliquid handles the actual settlement, so users do not need to leave their existing wallets. Coinbase added that maximum leverage varies per asset, and positions may be liquidated if losses exceed a set threshold. The product is not currently accessible to users in the U.S., U.K., Canada, and other jurisdictions that restrict leveraged crypto derivatives trading. The launch also signals a shift in Base App’s product focus, moving away from its previous emphasis on social and creator features toward trading, payments, and AI Agents. Base founder Jesse Pollak previously acknowledged that social and creator tokens failed to deliver the expected user growth, while prediction markets, perpetual contracts, and stablecoins have emerged as stronger drivers of adoption.