Migration to Deribit international derivatives trading
Who is this guide for:
- These guides are for new or existing Coinbase retail clients/partners who want to trade international derivatives after September 9, 2026.
- Existing Deribit clients can continue to use Deribit services and APIs as they do today.
What’s new for you:
- 125+ perpetual contracts: Including equity and commodity perpetuals
- Up to 50x maximum leverage
- Deeper liquidity: Unified order books from a combined global user base
- Starbase matching engine: Faster, more scalable, lower-latency execution
- Options trading — Coming soon for eligible users
What’s changing
- New API endpoints. Derivatives trading moves to a new Deribit-powered gateway. The protocol moves from REST to JSON-RPC 2.0, over HTTP or WebSocket. See the Technical Guide for base URLs and protocol detail.
- New products. 125+ perpetual contracts at launch — including equity and commodity perpetuals — with up to 50x maximum leverage. Options and dated futures follow (see Timeline).
- A richer trading surface. New native order types and features become available, including trailing stops, market-limit orders, iceberg orders, and WebSocket order entry.
- More order controls. Choose your margin model per portfolio, trigger stop and take orders on the index, mark, or last price, and auto-cancel resting orders if your WebSocket connection drops (Cancel on Disconnect).
What’s not changing
- Your API key. Keep your existing CDP API key. There are no new credentials to create, and the same key authenticates to the new gateway.
- Spot trading. Spot API endpoints are unaffected and remain on api.coinbase.com.
- Funding. You fund your derivatives account through Coinbase, as today — see Funding below.
- Key management. API keys are still created and managed in the CDP Portal, as today.
Migration Guides
The migration is covered in the 4 guides:Overview
This guide covers the timeline, new products, order types, margin models, and the migration plan.
Technical Guide
The implementation reference: authentication, endpoint and schema mapping, and spec references.
Deribit Partners Guide
For registered Deribit partners — how the Coinbase integration affects an existing Deribit integration.
INTX Partners Guide
For partners on Coinbase’s international (INTX) platform moving to the new Deribit-backed service.
Timeline
| Milestone | Date | What it means |
|---|---|---|
| Account provisioning | August 2, 2026 | Your accounts are created on the new combined platform |
| Cutover | September 9, 2026 | INTX trading ends and the Deribit-powered gateway goes live. Open orders are cancelled, positions settle and are recreated on the new platform, and old endpoints stop serving international derivatives. Perpetuals trade from day one. |
| Options and dated futures | Fast-follow | New products come online after the perpetuals cutover |
What happens at cutover
Your positions and balances migrate automatically — but your open orders do not.Open orders are cancelled
All resting orders on International Exchange are cancelled. Re-place them on the new gateway after the switch.
Positions are settled and recreated
Open positions settle at the mark price (PnL crystallized, funding paid), then are recreated at the settlement price on the new platform. Nothing for you to do.
Funding
Funding stays on Coinbase. Only derivatives trading moves to the new gateway. Fund your derivatives portfolio in the same way via the UI or API before you place orders:- Retrieve the portfolio’s account ID with
GET /api/v3/brokerage/portfolios - Transfer collateral with
POST /api/v3/brokerage/portfolios/move_funds.
Margin models
You choose a margin model per portfolio, and the choice combines two independent settings.- Cross or segregated. Cross margin pools collateral across all your positions, so a gain on one cushions a loss on another. Segregated (isolated) margin ring-fences collateral to a single position, so a loss there can’t drain the rest of your account.
- Portfolio or standard. Portfolio margin nets the risk of related positions and can lower your total requirement. Standard margin sizes each position’s requirement on its own, with no netting.
| Model | Plain meaning |
|---|---|
| Cross, portfolio margin | Pooled collateral, risk netted across positions |
| Cross, standard margin | Pooled collateral, each position sized on its own |
| Segregated, portfolio margin | Collateral ring-fenced per position, risk netted within it |
| Segregated, standard margin | Collateral ring-fenced per position, each sized on its own |
private/change_margin_model.
Order types
Order-type and time-in-force values are renamed and lowercased. The take-profit / stop-loss model also changes shape.Order type mapping
| Order type | Current value | New gateway value | Notes |
|---|---|---|---|
| Limit | LIMIT | limit | Direct equivalent |
| Market | MARKET | market | Direct equivalent |
| Stop (market) | STOP | stop_market | Same behaviour, new name |
| Stop limit | STOP_LIMIT | stop_limit | Creates two order IDs (pre- and post-trigger) |
| Take-profit / stop-loss | TAKE_PROFIT_STOP_LOSS | take_limit + take_market | Model change — see the Technical Guide |
| Market limit | — | market_limit | New: fills like market, remainder rests as limit |
| Trailing stop | — | trailing_stop | New: stop tracks price by offset |
| Iceberg | — | limit + display_amount | New: hides part of a resting limit order; the visible slice refreshes as it fills |
Time-in-force
| TIF | Current | New gateway | Notes |
|---|---|---|---|
| Good-til-cancel | GTC | good_til_cancelled | Direct equivalent |
| Immediate-or-cancel | IOC | immediate_or_cancel | Direct equivalent |
| Fill-or-kill | FOK | fill_or_kill | Direct equivalent |
| Good-til-time | GTT | No equivalent | Closest is good_til_day (expires at session end). Custom-expiry resting orders are not supported |
| Good-til-day | — | good_til_day | New: expires at session end |
Migration checklist
Detailed auth, endpoint, and schema specifics are in the Technical Guide. This is the action list:Update base URLs and move to JSON-RPC 2.0
- REST
https://drb.coinbase.com/api/v2 - WebSocket
wss://drb.coinbase.com/ws/api/v2
Keep your CDP API keys but add the new token exchange
Call
public/auth with grant_type: coinbase_cdp, then cache and refresh the access token before it expires.Update instrument names
Perpetuals become
{BASE}_USDC-PERPETUAL (for example, BTC-PERP-INTX → BTC_USDC-PERPETUAL). Discover exact names via public/get_instruments.Send numeric values as numbers
Prices and sizes are JSON numbers in and out;
amount units follow the instrument.Update order-type and time-in-force values
Switch to the new lowercase names. There is no good-til-time equivalent; use good-til-day or handle expiry yourself.
Refactor take-profit / stop-loss to OTOCO
Replace the single combined order with two linked exit orders.
FAQ
Do I need a separate trading account or API key?
Do I need a separate trading account or API key?
No. You keep your existing Coinbase (CDP) API key and authenticate to the new gateway with it. There is no separate account or key to create.
Can I run old and new endpoints in parallel during cutover?
Can I run old and new endpoints in parallel during cutover?
No. This is a hard cutover. Integrations not migrated by September 9, 2026 stop trading.
What happens to my open orders and positions at cutover?
What happens to my open orders and positions at cutover?
Open orders are cancelled — re-place them on the new gateway after the switch. Positions and balances migrate automatically (settled and recreated on the new platform). See What happens at cutover.
Is spot trading affected?
Is spot trading affected?
No. Your spot integration is unchanged — spot API endpoints remain on
api.coinbase.com. You can also place spot orders through the new gateway, which routes them to the same Coinbase Exchange order books. That path is optional and additive; there is nothing to migrate for spot.How do I fund my derivatives account?
How do I fund my derivatives account?
Funding stays on Coinbase and is unchanged. See Funding above.
My GTT orders — what do I do?
My GTT orders — what do I do?
There is no good-til-time equivalent. Use good-til-day (expires at session end) or manage expiry client-side.
My stop-limit tracking broke after a trigger.
My stop-limit tracking broke after a trigger.
Expected. The engine issues a new order ID after the stop triggers. Track both IDs.
My retry loop keeps getting disconnected.
My retry loop keeps getting disconnected.
Expected. Rate-limit exhaustion disconnects you; it does not return a retryable HTTP 429. Implement credit-aware backoff.
Where do I get integration support?
Where do I get integration support?
Contact your Coinbase account manager.