Coinbase Adds Hyperliquid Perps With 50x Leverage to Base App

Coinbase has integrated Hyperliquid’s perpetual futures into Base App, giving eligible users access to more than 290 leveraged markets without leaving their self-custody wallet.

The new product supports leverage of up to 50x on selected markets, including Bitcoin, Ethereum, tokenized equities, and commodities. Hyperliquid provides the underlying liquidity and execution infrastructure, while Coinbase keeps the trading interface inside Base App.

However, the service will not initially be available in the US, the UK, Canada, or other jurisdictions that restrict leveraged crypto derivatives.

The launch marks a significant expansion of Coinbase’s relationship with Hyperliquid and reflects Base App’s shift away from crypto-native social features toward trading, payments and other financial services.

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Coinbase Targets the Largest Segment of Crypto Trading

Perpetual futures, commonly called perps, allow traders to speculate on whether an asset’s price will rise or fall without owning it directly. Unlike conventional futures contracts, they do not have an expiry date.

Leverage lets traders control positions larger than their initial capital, potentially multiplying profits. However, it also amplifies losses, and Coinbase warned that positions could face liquidation when losses exceed specified thresholds.

🚨 COINBASE BRINGS HYPERLIQUID PERPS TO BASE APP

.@coinbase is integrating Hyperliquid-powered perpetual futures into its @baseapp giving eligible users access to 290+ perp markets across crypto, equities, and commodities.

Key details:
• Up to 50x leverage
• Execution… pic.twitter.com/j7vl2yBuJc

— Hyperliquid Daily (@HYPERDailyTK) August 20, 2026

According to Coinbase, perps account for roughly 75% of total cryptocurrency trading volume. Chintan Turakhia, Coinbase’s head of engineering, described them as the “single most requested feature” among Base App’s power users.

“Our most active users have been telling us clearly that leverage is what would get them to stay,” Turakhia said.

The integration allows Base App users to trade around the clock while retaining control of their assets through a self-custody wallet.

Coinbase has not yet disclosed the complete list of markets, fee structure or detailed contract specifications. The maximum leverage available will vary depending on the asset.

Hyperliquid Handles Execution and Liquidity

Rather than developing a new onchain derivatives engine, Coinbase is routing Base App orders through Hyperliquid’s existing trading infrastructure.

Hyperliquid has emerged as one of the largest decentralized perpetual futures venues, attracting traders with its speed, deep liquidity and broad range of markets. Its infrastructure will handle order matching and execution while the user experience remains inside Base App.

USDC supply on Hyperliquid increased by $248.92M and $150.52M, for a total increase of $399.44M USDC.

This is an even more important metric with AQAv2 set to begin on August 26.

For context, AQAv2 will distribute 90% of Circle’s revenue generated from all USDC on Hyperliquid,… pic.twitter.com/yAnojOnhG1

— Hyperliquid News (@HyperliquidNews) August 21, 2026

The arrangement expands an existing relationship between the two companies. In May, Coinbase became Hyperliquid’s official treasury deployer for USDC, giving it a role in managing the stablecoin liquidity supporting the platform’s markets.

Coinbase has also been expanding its derivatives business through regulated channels.

Its Coinbase Financial Markets subsidiary recently enabled eligible US institutional clients to access global crypto derivatives, beginning with Deribit options. Perpetual futures and retail access are expected to follow, subject to regulatory approval.

Base App Pivots Away From Its Social Strategy

The Hyperliquid integration also underscores a strategic shift for Base App, which Coinbase relaunched as a crypto “everything app” that combines trading, social networking, messaging, AI tools, and creator monetization.

That social-first strategy struggled to generate the expected adoption. Base creator Jesse Pollak acknowledged in July that Coinbase had made “the wrong bet on social,” even though its broader focus on supporting developers had proved successful.

Base App perps are live powered by Hyperliquid.

Long or short anything from your phone. pic.twitter.com/onH40YxlNf

— Base App (@baseapp) August 19, 2026

Prediction markets, stablecoins, and perpetual futures ultimately attracted more demand than creator coins and crypto-native social features.

By embedding Hyperliquid’s markets, Coinbase is now leaning into that demand.

The integration gives Hyperliquid a major retail distribution channel while helping Base App compete for active traders, although regulatory restrictions still leave three of Coinbase’s most important markets on the sidelines.

Hyperliquid Lands on Coinbase Base App With 50x Leverage and 290+ Markets

Coinbase Targets the Largest Segment of Crypto Trading

Hyperliquid Handles Execution and Liquidity

Base App Pivots Away From Its Social Strategy

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