Coinbase Prime opens Deribit options and perps to eligible US institutions
Institutions that qualify as Eligible Contract Participants can now reach Deribit's order books through Coinbase's US futures broker. This is not open to retail customers, and Deribit itself still does not serve the US.
· Effective · Verified 2026-11-05 via official announcement
Effective Nov 4, 2026: Coinbase Prime opens Deribit options and perps to eligible US institutions. Affects: Institutions on Coinbase Prime that qualify as Eligible Contract Participants, in the US and ten other listed jurisdictions. Source: x.com, verified Nov 5, 2026. Coinbase code 33NYAA8.
Coinbase said on 4 November 2026 that regulated access to global crypto options and perpetual futures is live on Coinbase Prime for institutions in the US and other eligible regions. Orders go through Coinbase Financial Markets, a CFTC-registered futures commission merchant, to Deribit, which executes the trades and runs the margin model. Coinbase says the offering covers more than 20 assets, including BTC, ETH, SOL, XRP, AVAX and HYPE.
Coinbase's help pages list options, dated futures and perpetual futures, settled in USDC or in BTC and ETH. All options are options on futures. Collateral is limited to USDC, BTC and ETH for now, and Coinbase says more assets are coming. It stays in a secured customer account at Coinbase Financial Markets and is delegated to Deribit for trading.
Clients must be institutions that qualify as Eligible Contract Participants, with a principal place of business in the US, Cayman, BVI, Brazil, Singapore, the UK, Bermuda, Switzerland, Australia, the Bahamas or Jersey. They must complete a futures broker application and sign a Deribit addendum. Fees are set in each client's agreement, and an NFA assessment fee applies to each trade.
The order book is shared but margin is not pooled. Each portfolio is margined separately, and a shortfall in one settlement currency is not automatically covered by a surplus in another. If equity in a settlement currency falls below maintenance margin, all positions in that currency are at risk of liquidation.
Nothing changes for US retail customers today. Coinbase said in October that US retail access to options would come later this year and gave no date. Its legal notice on the launch says Deribit does not offer its services in the US, so a direct Deribit account remains unavailable to US users.
“Regulated access to global options & perps for institutions in the US and other eligible regions, now on Coinbase Prime.”
— Coinbase on X, 4 November 2026
Who this affects
Institutions on Coinbase Prime that qualify as Eligible Contract Participants, in the US and ten other listed jurisdictions. US retail customers are not covered.
Coinbase at a glance
Coinbase is a US-listed (Nasdaq: COIN) custodial crypto exchange and broker. Simple buys and sells carry a spread plus a Coinbase fee, Coinbase Advanced is a maker/taker order book, and since 2025 the app has offered DEX trading of onchain Base and Solana tokens through an integrated self-custody wallet.
More from the newsroom
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Coinbase on X - Regulated access to global options and perps now on Coinbase Prime (4 Nov 2026) — checked 2026-11-05
- Coinbase on X - Live on Prime: Deribit liquidity, 20+ assets, BTC, ETH and USDC collateral (4 Nov 2026) — checked 2026-11-05
- Coinbase Help - What is Global Derivatives? — checked 2026-11-05
- Coinbase Help - Global Derivatives products you can trade — checked 2026-11-05
- Coinbase Help - Who is eligible and how to activate Global Derivatives — checked 2026-11-05
- Coinbase Help - Funding your Global Derivatives portfolio and eligible collateral — checked 2026-11-05
- Coinbase Help - Global Derivatives margin modes — checked 2026-11-05
- Coinbase - Coinbase Is Building the Most Complete Trading Platform (7 Oct 2026) — checked 2026-11-05
- Cointelegraph - Coinbase brings global crypto derivatives liquidity to US with Deribit integration (7 Oct 2026) — checked 2026-11-05
- The Defiant - Coinbase Brings Deribit Options and Perpetuals to US Prime Clients (4 Nov 2026) — checked 2026-11-05
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