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Key Takeaways:
- Coinbase’s filing for single-stock perpetual futures in the U.S. is complete.
- The suggested contracts would offer 24×5 exposure for individual stocks.
- Currently, CFTC reports Coinbase’s filing as Pending Approval.
Coinbase is pushing to bring one of crypto derivatives’ most popular trading formats into the U.S. stock market. The exchange has filed with the Commodity Futures Trading Commission (CFTC) to list perpetual futures tied to individual equities, potentially opening regulated access to a product that has largely remained outside the U.S.
Single stock perps are coming to America.
Coinbase has filed to list the first set of single stock perpetual futures in the US.
Building on the progress of our live US perps market, we’re working to bring liquid, 24/5 exposure to individual stocks in the US for the first time. pic.twitter.com/NPm14LK3UR
— Coinbase 🛡️ (@coinbase) September 18, 2026
Coinbase Takes Stock Perps to U.S. Regulators
On September 18, Coinbase Derivatives submitted its proposal to be approved for a platform of perpetual futures contracts on individual U.S. stocks and exchange-traded funds (ETFs).
Coinbase’s Single Stock Perpetual Futures Contract appears as an approval pending security futures product on the CFTC’s filing database. Coinbase needs to go through the regulatory process to be able to list the contracts.
Coinbase says the move builds on its existing U.S. perpetual futures business. The proposed contracts would trade from Sunday at 8 p.m. ET through Friday at 5 p.m. ET, giving traders exposure across the overnight, pre-market, regular and after-hours periods.
Read More: Coinbase CEO Targets $70T US Stocks With Fully Backed Tokenized Equities Push
How the Proposed Perps Would Work
Perps do not have an expiration date unlike conventional futures. Rather, they have a periodic funding arrangement to maintain the contract value consistent with that of the underlying asset.
In Coinbase’s proposed design, the funding rate would be computed hourly with several price snapshots every three minutes. The rate would have a maximum of 0.10% per hour up or down.
If the price of the perpetual trade exceeds the spot price, longs pay funding to shorts. When it’s dropping below the reference price, the flow reverses.
The goal for this system is to provide an economic reason for the continual price to be kept close to the underlying stock’s market price.
A Crypto-Style Product Enters Equity Markets
Coinbase would reckon its own reference index based on market data feeds from institutions from U.S. pre-market, regular sessions, after-hours and overnight markets. It would be updated every second, and the procedure followed would eliminate old or abnormal values.
Proposed contracts would also be subject to the U.S. security futures regime, including clearability, surveillance, margin and market supervision processes.
The filing says that Coinbase has systems to prevent manipulation and insider trading, and has processes for coordinated surveillance with markets on which the underlying securities trade.
Coinbase Expands Its Perpetual Futures Push
The filing is a new development for Coinbase’s trading order book of derivatives. It already has a derivatives trading platform, which includes perpetual-trade contracts linked to crypto assets and other markets. At the moment, Coinbase’s derivatives data page shows 146 assets available for trading on what they call their derivatives ecosystem.
The forward-thinking single-stock contracts would bring this style of trading into investments through the U.S. equity market, combining a trading model that is well known to the crypto trading community with some of the world’s most liquid assets.
But the products are still pending approval from CFTC for now. Upon approval, subject to any additional regulatory requirements, Coinbase reveals it plans to put the contracts up for sale shortly.
Read More: Coinbase and Singapore Police Block $4.2M Crypto Scam Losses in 145+ Rescue Cases
The post Coinbase Targets $24/5 Stock Perps in First U.S. Push for Single-Stock Crypto Futures appeared first on CryptoNinjas.
