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Starting 8 June, Coinbase Will Offer Perpetual Futures on AI, Defence, and China-Related Stocks
On 8 June, Coinbase Derivatives will launch perpetual futures on stock indices within regulated US markets, giving traders direct exposure to artificial intelligence (AI), Chinese equities, defence industries, and the broader technology sector through four new thematic contracts.
Key Highlights
- On 8 June 2026, Coinbase Derivatives will launch stock index perpetual futures for regulated US markets.
- Four contracts covering AI, China, defence, and technology sectors will provide thematic exposure through a funding rate mechanism.
- Retail access to Coinbase AIP, CHN, DEF, and TEK contracts is expected in the coming months.
Coinbase Expands into Equity-Based Perpetual Futures
The exchange announced the launch on Thursday.
“We’re adding even more ways to trade equities on Coinbase. Go long or short on the most popular sectors and trends,” the company stated.
The contracts will cover four indices:
- AI10 (AIP);
- China10 (CHN);
- Defense10 (DEF);
- Tech100 (TEK).
What Are Perpetual Futures?
Perpetual futures, commonly known as perps, are derivative contracts that allow traders to speculate on the price of an asset without an expiry date.
Unlike traditional futures contracts, which settle on a fixed date, perpetuals can be held indefinitely.
To keep contract prices close to the spot market price, exchanges use a funding rate mechanism.
- If the perpetual contract trades above the spot price, long-position holders pay funding fees to short-position holders.
- If the contract trades below spot, short sellers pay funding fees to long-position holders.
Funding typically occurs every eight hours.
How Coinbase’s New Contracts Will Work
Coinbase Derivatives has applied the same structure to equity indices.
Each contract settles in cash and represents 1x exposure to its underlying index.
For example, the Tech100 contract would carry a notional value of $4,000 if the Marketvector US Listed Innovators 100 Index is valued at 4,000 points.
AI10: Betting on Artificial Intelligence
The AI10 perpetual futures contract tracks 10 leading US-listed companies that derive at least 50% of their revenue from:
- AI infrastructure;
- data services;
- AI applications.
The underlying index includes four segments:
- big data;
- fabless semiconductor companies;
- hyperscalers and AI-as-a-Service firms;
- data-centre hardware and solutions.
Components are weighted by free-float-adjusted market capitalisation, with a maximum 15% cap per stock.
The index is rebalanced quarterly.
Coinbase Derivatives perps. Left: China10 contract. Right: Defense10 contract.
China10 and Defense10
The China10 contract tracks the ten largest and most liquid Chinese companies listed as ADRs on Nasdaq and NYSE.
The same 15% concentration cap and quarterly rebalancing rules apply.
Defense10 focuses on ten leading US aerospace and defence companies that generate at least 50% of their revenue from defence-related activities.
Tech100: The Broadest Index
Tech100 is the broadest of the four indices.
It tracks 100 Nasdaq-listed companies across sectors including:
- technology;
- communications;
- consumer goods;
- industrials;
- materials;
- healthcare;
- consumer staples;
- energy.
Unlike the other indices, Tech100 does not apply concentration caps, allowing natural market leadership to determine weightings.
Benefits and Risks
For US traders, regulated access to perpetual contracts tied to equity themes has historically been limited.
Offshore exchanges offered similar products, but without oversight from regulated US futures exchanges.
Coinbase stated that its products operate on regulated market infrastructure with centralised liquidity and transparent pricing.
The contracts also offer tax advantages.
As futures products, they qualify under the 60/40 tax rule, meaning 60% of gains are taxed as long-term capital gains regardless of holding period.
Key Risks
However, perpetual contracts also carry significant risks:
- high leverage can amplify losses during small price moves;
- funding fees accumulate when positions are held against market direction;
- traders remain exposed to counterparty risks associated with centralised exchanges.
Coinbase added that more details regarding access through partner platforms will be released later.
Retail trader access is expected within the coming months.
The 8 June launch marks the first time Coinbase Derivatives has applied its crypto-style perpetual futures structure to equity markets under US regulatory oversight.
See also: "Bithumb Announces the Listing of This Altcoin for Spot Trading"
