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At a glance
- What changed
- Coinbase Wallet offers perpetual futures with up to 40x leverage, executed through Hyperliquid.
- Who it affects
- Coinbase Wallet users outside the United States in jurisdictions where the feature is offered.
- When
- Announced on 19 October 2026; perps have been live in the app since 19 August 2026.
40x, inside the wallet
Coinbase Wallet’s post on 19 October was a single line: trade perps with up to 40x leverage in Coinbase Wallet, “powered by @HyperliquidX”. The graphic attached to it carries the words “Trade to Win” and “Hyperliquid Perps” next to Hyperliquid’s symbol and the Coinbase Wallet logo.
A perpetual future, or perp, is a contract that tracks the price of an asset without an expiry date, so a trader can bet on the price going up (long) or down (short) without owning the asset. Leverage multiplies the position: at 40x, a deposit of $100 controls a $4,000 position, and a price move of around 2.5% against it is enough to wipe out that deposit. The 40x figure is a maximum; the post does not say which markets offer it.
From Base App to Coinbase Wallet
The feature is not new. Perps went live on 19 August 2026 in what was then called Base App, with the tagline “Long or short anything from your phone” and the same Hyperliquid branding. On 10 September Base App was renamed Coinbase Wallet, and the team said it wants the wallet to be the fastest way to trade everything onchain, from tokenized stocks and memes to perps and prediction markets.
A week later, on 16 September, Coinbase Wallet reported $150 million in perps volume in the feature’s first month. That is the company’s own figure; it has not published a later total.
Pulse Mode and copy trading
Two additions followed in October. On 5 October the wallet switched on Pulse Mode, which it describes as a simpler, live view for trading perps. On 8 October it launched perps leaderboards, where users can find top traders, see their moves and copy any trade “in a few taps”. A screenshot from that announcement shows the perps screen split into Crypto, Stocks and Commodities tabs.
Copying a leaderboard trade copies its direction and timing, not the original trader’s risk tolerance or exit plan. Past results on a leaderboard say nothing about the next trade, a point Coinbase Wallet’s own disclaimer on that post makes as well.
Who can use it
Every one of these posts carries the same legal note: perpetual futures trading is only available to non-US users in select jurisdictions, the risk can be substantial and the product may not be suitable for everyone. Coinbase Wallet does not list the eligible countries in its posts, so whether the Perps tab appears for you depends on where you are. Readers in the Netherlands, Türkiye and elsewhere should check in the app rather than assume access.
If you do trade, start with low leverage, set a stop-loss and keep an eye on the liquidation price the app shows before confirming an order.
BaseDiscount code
10% off eligible swap fees
Base referral code: 2ZTS468P — sign up with this code to get 10% off eligible swap fees.
Affiliate link. We may earn a commission, at no extra cost to you.
Conditions
New wallets only; enter the code during onboarding. Same-chain swaps and regional eligibility rules apply.
The code and partner link have no expiry. Campaign dates, benefits and eligibility are separate and may change. Check the provider’s current terms before signing up.
