Coinbase completes Deribit switch, ending International Exchange trading

Coinbase accomplished the migration of Coinbase International Exchange to Deribit on Oct. 1, ending trading on its former worldwide venue. The previous alternate is now read-only, with its trading exercise moved to Deribit.

Coinbase’s migration status report marked upkeep full at 10:02 UTC on Oct. 1, 2026. For affected institutional purchasers, the swap makes new trading 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 break up throughout the 2 venues. Available merchandise and entry nonetheless depend upon account sort and site.

Institutions utilizing API or FIX connections want Deribit endpoints and newly created Deribit API keys. International Exchange keys won’t work, and there’s no parallel trading 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 International Exchange orders have been canceled on the halt somewhat than transferred. Clients 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 Limited acts as these purchasers’ 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 International Exchange’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 similar every day time; its quoted eight-hour charge is a separate conference.

Trade histories additionally require care. Block-trade entries tagged “Migration” recreate positions on the International Exchange settlement worth. They are 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 International Exchange trading historical past doesn’t seem on Deribit. Coinbase says historic commerce and order APIs will stay accessible for about 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 maintain their Coinbase account and acquainted core workflows, though screens and market information could change. Customers utilizing the Coinbase Advanced Trade 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 establish 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.

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