Coinbase will remove 10 perpetual futures contracts from its platform on August 26, 2026. The move affects traders who hold open positions in these contracts and marks another change in the exchange’s derivatives market. The affected contracts are MEME-PERP, SAND-PERP, BIRB-PERP, BLUR-PERP, KAT-PERP, SPX-PERP, ZORA-PERP, AXS-PERP, AI-PERP and ZRO-PERP.
The decision does not mean that Coinbase is removing the related crypto assets from every part of its platform. The change applies to these specific perpetual futures contracts. This difference matters because a futures contract and the spot asset are separate products. A trader may lose access to a futures market while the related token can still have a spot market elsewhere or on Coinbase, subject to its own listing status.
Which Contracts Are Affected?
The list covers several types of crypto assets. MEME refers to Memecoin, SAND refers to The Sandbox, BIRB refers to Moonbirds, BLUR refers to Blur, KAT refers to Katana, SPX refers to SPX6900, ZORA refers to Zora, AXS refers to Axie Infinity, AI refers to Gensyn and ZRO refers to LayerZero.
Coinbase’s own product information confirms that MEME-PERP, BIRB-PERP and SAND-PERP are perpetual products with no normal expiry date. These contracts use USDC for settlement and rely on an index price tied to the related asset.
Several of the affected contracts were part of Coinbase’s broader derivatives market rather than its top tier. Coinbase currently places contracts such as AXS-PERP, BLUR-PERP, MEME-PERP, SAND-PERP, SPX-PERP, ZORA-PERP and ZRO-PERP in its Tier 3 perpetual futures group.
Why Is Coinbase Removing Them?
The main reason relates to the exchange’s regular review of its futures products. Coinbase assesses factors such as market activity, liquidity, product quality and other requirements when it decides which contracts should remain available.
Liquidity is especially important for futures. A market with low activity can have a wider gap between buy and sell prices. A large order can also move the market price more than expected. This can create greater risk for traders, especially when leverage is part of the position.
The decision therefore does not automatically mean that Coinbase considers these tokens worthless. It means the exchange has decided to remove these particular futures products from its market.
What Is a Perpetual Future?
A perpetual future is a derivative contract that lets a trader take a long or short position on an asset without a normal expiry date. Unlike a standard futures contract, a perpetual future can remain open for an extended period as long as the trader meets the required margin conditions.
These products often use leverage. A trader can control a position larger than the amount of capital placed as margin. This can increase potential gains, but it can also increase losses very quickly.
Perpetual futures also use an index price. This price acts as a reference for the underlying asset and helps the exchange manage the relationship between the futures market and the wider spot market.
What Happens to Open Positions?
The most important detail for affected traders is the settlement process. Anyone who leaves an affected position open until the suspension does not get to keep that position after the contract disappears.
Coinbase will automatically settle open positions. The settlement price will use the average index price from the final 60 minutes before trading stops. This means the final result will not simply depend on the last price shown on the futures order book.
This distinction can matter a lot. Suppose a trader holds a long position and expects to close it at a particular price. If the trader waits until the suspension, Coinbase will use its stated settlement method instead of the trader’s preferred exit price.
For that reason, an affected trader should understand the deadline and settlement rules before the final suspension.
Why the Final 60 Minutes Matter
The final 60-minute period has a direct role in the settlement price. Coinbase will use the average index price from that period rather than a single final trade.
This method can reduce the effect of one unusual trade or one sudden price move on the settlement value. At the same time, it means traders cannot know the exact settlement price until the relevant period is complete.
The index is also different from the price shown on one exchange or one order book. Coinbase’s product rules state that index prices are derived from an underlying asset price and can update frequently.
The Final Funding Rate Will Be Zero
Another important detail concerns funding. Coinbase will set the rate for the final funding settlement cycle to zero.
Funding payments normally help keep a perpetual futures price close to its underlying reference price. Depending on market conditions, one side of a perpetual contract may pay the other side.
For these contracts, the final funding cycle will not create another payment between long and short holders. This rule applies as part of the final settlement process for the affected products.
An Open Limit Order Is Not Enough
Traders should also understand the difference between an open order and an open position. A limit order that has not executed does not close a position.
If a trader places a limit order but no market participant accepts that price, the order remains unfilled. The position can therefore stay open until the suspension deadline.
This becomes more important near a futures removal because liquidity can become thinner as the deadline gets close. A price that looked easy to reach earlier may become harder to achieve later.
This Is Not the First Coinbase Futures Removal
The August 26 action is part of a wider pattern. Coinbase also removed six perpetual futures contracts in June 2026. Those contracts were SPK, ZAMA, GUN, TURBO, MOODENG and NOM. The same basic settlement approach applied to those products.
Another group of contracts is also scheduled for removal on September 3, 2026. That group includes Kaspa and POPCAT along with seven other contracts.
This suggests that Coinbase’s futures market goes through regular product reviews rather than treating each removal as a unique event.
What the Delisting Does Not Mean
The removal of a perpetual futures contract should not be confused with a complete removal of the underlying cryptocurrency.
For example, the end of SAND-PERP does not by itself mean that SAND has ceased to exist or that every SAND market has closed. The same applies to AXS, BLUR and the other affected assets.
The key point is simple: Coinbase is removing specific derivatives contracts. The underlying tokens are separate assets with separate market arrangements.
What Traders Should Watch
Traders with an affected position should pay close attention to the official suspension time, their position size, margin level and the settlement method. They should also understand whether they want to close the position themselves before the deadline or allow Coinbase to settle it under the stated rules.
Coinbase’s broader derivatives market remains active, with many other perpetual contracts still available. Its August 2026 market report also said that derivatives open interest had recovered in July, although spot and perpetual volumes had declined. Coinbase noted that the recovery was more concentrated in major assets than in higher-risk altcoins.
Final Takeaway
Coinbase will remove 10 perpetual futures on August 26, 2026: MEME-PERP, SAND-PERP, BIRB-PERP, BLUR-PERP, KAT-PERP, SPX-PERP, ZORA-PERP, AXS-PERP, AI-PERP and ZRO-PERP.
For traders, the most important fact is that open positions will be settled automatically if they remain open at the suspension. Coinbase will use the average index price from the final 60 minutes before trading stops, while the final funding rate settlement cycle will be set to zero.
The move is significant for users of these futures, but it should not be read as a blanket statement about the value or future of the underlying tokens. It is a change to Coinbase’s derivatives lineup, with liquidity, market activity and product review factors at the center of the decision.
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