Darling Coinbase Markets is pulling the plug on twelve perpetual futures on May 21, around 13:00 UTC. What a perfectly timed bit of theatre.
A Brief Intermission
- Oh yes, Coinbase will suspend twelve perpetual futures, citing liquidity and market-quality standards-the kind of standards that make a debutante sigh with relief.
- Open positions will settle automatically, using the average index price from just before the final curtain.
- A little fiscal cabaret: competition among derivatives grows, and exchanges are eyeing weaker markets with a critic’s gaze.
The contracts in question-KAITO-PERP, SENT-PERP, SAHARA-PERP, CAKE-PERP, TOSHI-PERP, AKT-PERP, VET-PERP, ANIME-PERP, THETA-PERP, ZK-PERP, KERNEL-PERP, and BARD-PERP-are being asked to take a bow.
The exchange assures that any open positions will settle automatically, as the final act approaches. The final settlement price will be based on the average index price in the 60 minutes before trading stops.
Open Positions: A Curtain Call by Autopilot
Funding rate will be set to zero for the final funding period before settlement. It also reserves the right to suspend trading at any point and adjust the final settlement price to a reasonable level.
The notice gives traders a genteel interval to close or reduce exposure before the halt. Those who keep positions open will glide into automatic settlement. Timing, margins, and price movement will be the chorus before May 21.
Moreover, Coinbase says these suspensions are about preserving high-quality derivatives markets. The exchange claims it is focusing on products that meet liquidity and market-quality standards, while seeking price integrity and deeper liquidity for users.
The affected tokens span AI, DeFi, gaming, infrastructure, and older layer-1 networks. Coinbase’s product page lists these markets as linear perpetual futures settled in USDC, with no expiry date – a perpetual party, darling.
Derivatives Drama: The Market Keeps Shifting
The suspension arrives as crypto derivatives competition thickens. Reports note Kalshi has explored crypto perpetual futures as U.S. rules shift and competition widens against Binance, Hyperliquid, Coinbase, and Kraken.
Coinbase has also been adjusting other listed markets. A recent crypto.news report said the exchange moved to disable DAI trading on Coinbase.com and its mobile app from May 4, while also suspending TIME trading and disabling TRU ahead of migration.
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2026-05-08 11:31