Coinbase Brings Hyperliquid Perps To Base as Price Hits Two-Month High

290 Markets, Up to 50x Leverage

Coinbase has integrated Hyperliquid perpetual futures into its Base App, opening access to more than 290 markets for eligible users. The available markets span Bitcoin, Ethereum, and contracts tied to stocks and commodities. The platform has confirmed leverage of up to 50x, with positions subject to liquidation if losses cross set thresholds.

Trades are routed through Hyperliquid for execution while the interface remains inside the Base App. Coinbase's Head of Engineering Chintan Turakhia framed the move as a direct response to user demand, noting that perpetual futures are the most requested feature among Base App's power users and account for roughly 75% of all crypto trading volume. He described Hyperliquid as "one of the highest-performance onchain perps protocols," adding that the integration lets users tap into its deep liquidity without leaving their existing wallet.

The integration builds on an existing relationship: Coinbase became Hyperliquid's official treasury deployer for USDC on 14 May, taking on a role in managing the dollar liquidity underpinning Hyperliquid's markets. The Base App integration adds a retail distribution layer on top of that existing arrangement.

The product carries geographic restrictions. Perpetual futures through Base App are not available in the U.S., UK, Canada, or other jurisdictions that restrict leveraged crypto derivatives. Coinbase offers separate futures products in the United States through Coinbase Financial Markets, a futures commission merchant registered with the Commodity Futures Trading Commission.

$HYPE Surges to Two-Month High

The announcement gave a sharp boost to $HYPE, the native token of the Hyperliquid protocol. The token surged roughly 23% in 24 hours to around $72, its highest level in two months, putting it within reach of the prior all-time high of $73.72 set on June 16, 2026.

The Base App perps launch follows a broader shift at Coinbase away from Base's earlier focus on social features and toward trading, payments, and AI agents. The company's first-quarter 2026 shareholder materials showed retail derivatives had passed $200 million in annualized revenue, while derivatives volume over the previous 12 months had risen 169% year over year.

Sources:
Coinbase Adds 50x Crypto Perps to Base App Through Hyperliquid — Decrypt
Coinbase Routes Base App Users to Hyperliquid's Perps — Finance Magnates
Coinbase Adds 50x Hyperliquid Perpetuals to Base App — Crypto.news