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Coinbase has integrated Hyperliquid perpetual futures into Base App, giving eligible users access to more than 290 markets without leaving their self-custody wallet. The new offering supports leverage of up to 50x, although the maximum varies depending on the market.
The integration covers perpetual contracts linked to Bitcoin, Ether, equities, and commodities. Trading takes place through the Base App interface, while orders are routed to Hyperliquid for execution.
Hyperliquid Handles Trade Execution
Users can open and manage leveraged positions from their existing Base App wallet instead of separately accessing Hyperliquid. Coinbase provides the interface, while orders are executed through Hyperliquid’s trading infrastructure and liquidity pools. Coinbase did not identify the dataset or measurement period behind that estimate. Coinbase Head of Engineering Chintan Turakhia said:
“Perps are where the volume is, roughly 75% of all crypto trading today is perps, not spot.”
Perpetual futures allow traders to take long or short positions without owning the underlying asset and do not have a fixed expiration date. Leverage can increase potential gains but also increases losses and the risk that a position will be liquidated.
More Than 290 Markets Available
At launch, Base App users can access more than 290 perpetual markets around the clock. The available contracts include major cryptocurrencies as well as products linked to stocks and commodities, with leverage reaching 50x only on supported markets.
Stock-linked contracts provide price exposure rather than ownership of the underlying shares. Traders therefore do not receive shareholder rights such as voting rights or dividends through those positions.
U.S., UK and Canadian Users Excluded
The Hyperliquid integration is not available to users in the United States, United Kingdom, Canada and certain other restricted jurisdictions. Coinbase offers separate regulated derivatives products in some markets outside this Base App integration.
The launch expands Base App’s focus on financial products including trading, payments and stablecoins. It also gives Hyperliquid another distribution channel while execution remains on its own perpetual futures infrastructure.
