Coinbase has integrated Hyperliquid perpetual futures into Base App, giving eligible users access to more than 290 leveraged markets without leaving their self-custody wallet. The rollout covers Bitcoin, Ethereum, equity-linked markets and commodities, with leverage reaching 50x on supported contracts.

Under the arrangement, Hyperliquid handles trade execution and liquidity while Base App supplies the user-facing trading interface. Coinbase Head of Engineering Chintan Turakhia described perpetuals as the "single most requested feature from our power users," adding that the company is increasingly building Base App around trading alongside payments and AI-powered services. Base App confirmed the rollout on X.

More Than 290 Markets Now Live in Base App

Users can open long or short positions directly from Base App while retaining their existing wallet setup. Available leverage varies by market and can reach 50x, which increases both capital efficiency and liquidation risk when positions move against the trader.

The integration deepens an existing relationship between the two companies. Coinbase became Hyperliquid's official USDC treasury deployer in May as the network shifted more of its collateral and settlement infrastructure toward USDC. That rollout continued in June, when Coinbase activated Hyperliquid's USDC treasury wallet under the AQAv2 framework, connecting the exchange more directly to the liquidity infrastructure supporting Hyperliquid's trading markets.

Hyperliquid itself has expanded well beyond crypto-only contracts. Its 24/7 markets now offer exposure to assets including equities, commodities and private-market names, helping the platform develop into an after-hours trading venue for Wall Street-linked markets. For Coinbase, bringing that catalogue into Base App gives eligible users a broader set of markets inside a product they already use for wallet activity, while keeping execution on a separate venue.

Derivatives Account for Majority of Crypto Volume

Coinbase has estimated that derivatives account for roughly 75% of global crypto trading volume, giving the company a strong incentive to place perpetual futures deeper inside its consumer products.

The exchange has already been expanding aggressively into non-crypto derivatives. In June, Coinbase launched SpaceX pre-IPO perpetual futures, adding synthetic exposure to private companies, while separate gold and silver perpetuals brought 24/7 commodity trading into its international derivatives lineup. Those additions show how Coinbase is extending its derivatives footprint beyond spot crypto while leaning on product partnerships and regulated offerings in different jurisdictions.

For Coinbase, the Hyperliquid integration gives Base App a much broader onchain market catalogue without the company having to operate the underlying execution venue itself.

Base App Shifts Further Toward Trading

Coinbase originally positioned Base App as an onchain everything app combining social feeds, creator tools, messaging, payments and trading. Its latest product direction places greater emphasis on markets, stablecoin payments and AI agents after social features failed to generate the adoption originally expected.

The Hyperliquid integration is unavailable to users in the United States, United Kingdom, Canada and other jurisdictions where leveraged crypto derivatives are restricted. Coinbase operates separate regulated derivatives products in several of those markets, including U.S. perpetual futures and a newly expanded derivatives offering for eligible professional investors in the UK.

For eligible Base App users, more than 290 Hyperliquid perpetual markets are now available with leverage reaching 50x, with execution remaining on Hyperliquid.