Coinbase completes Deribit migration, ends INTX trading
Coinbase accomplished the migration of Coinbase Worldwide Alternate to Deribit on Oct. 1, ending buying and selling on its former worldwide venue. The previous alternate is now read-only, with its buying and selling exercise moved to Deribit.
Coinbase’s migration status report marked upkeep full at 10:02 UTC on Oct. 1, 2026. For affected institutional shoppers, the swap makes new buying and selling connections, a distinct settlement cycle and separate historic information fast operational points.
Affected institutional accounts are restricted to non-US institutions in selected jurisdictions. Coinbase says the consolidation swimming pools derivatives liquidity beforehand cut up throughout the 2 venues. Accessible merchandise and entry nonetheless depend upon account sort and placement.
Establishments utilizing API or FIX connections want Deribit endpoints and newly created Deribit API keys. Worldwide Alternate keys is not going to work, and there’s no parallel buying and selling window on the previous venue.
Deribit’s API migration guide additionally says API-key IP allowlists don’t copy throughout. Instrument names and order attributes change, whereas open Worldwide Alternate orders have been canceled on the halt relatively than transferred. Shoppers wishing to reinstate canceled orders should recreate them on the brand new venue.
Execution strikes to Deribit, however the institutional authorized relationship has its personal construction. Coinbase Bermuda Restricted acts as these shoppers’ dealer, custodian and first counterparty, routing orders to Deribit, in line with Coinbase’s institutional guidance.
Migrated perpetual positions now settle as soon as a day at 08:00 UTC, changing Worldwide Alternate’s five-minute cycle. Settlement credit income or deducts losses from money balances with out closing the positions. Funding accrues repeatedly and cash-settles on the identical each day time; its quoted eight-hour price is a separate conference.
Commerce histories additionally require care. Block-trade entries tagged “Migration” recreate positions on the Worldwide Alternate settlement worth. They’re reserving artifacts, not new shopping for or promoting. A distinction between that worth and Deribit’s mark at reopening can create fast unrealized revenue or loss.
Legacy Worldwide Alternate buying and selling historical past doesn’t seem on Deribit. Coinbase says historic commerce and order APIs will stay accessible for roughly 12 months after migration, leaving establishments with separate information for exercise earlier than and after the swap.
For Coinbase app and web site customers, the account path differs: they preserve their Coinbase account and acquainted core workflows, though screens and market knowledge could change. Prospects utilizing the Coinbase Superior Commerce API for derivatives nonetheless want the brand new Deribit-powered gateway.
The cutover additionally doesn’t make each derivatives product instantly accessible in all places. Coinbase continues to determine its CFTC-regulated Coinbase Derivatives futures individually, whereas US Prime options access follows a distinct timeline. Its retail FAQ plans in-app choices for eligible customers in chosen non-US jurisdictions from late October, topic to availability.
