> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cdp.coinbase.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Global Derivatives Overview

> Guide to trading Global Derivatives on Advanced Trade

<Warning>
  **Coming soon.** Advanced Trade is moving international derivatives from INTX onto a Deribit-powered gateway running on the Starbase platform.
</Warning>

Coinbase International Exchange and Deribit are coming together to create a unified, world-class derivatives platform. The exchange infrastructure behind your perpetuals trades is moving to a combined platform powered by Deribit and Starbase.

## Migration to Deribit Global Derivatives trading

### Who is this guide for:

* These guides are for new or existing Coinbase retail clients/partners who want to trade Global Derivatives after cutover.
* 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 platform: 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. Hosts are on the [API reference overview](/api-reference/advanced-trade-api/rest-api/introduction); protocol detail is in the [Technical Guide](/coinbase-app/advanced-trade-apis/guides/derivatives/technical).
* **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](#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](#funding) below.
* **Key management.** API keys are still created and managed in the CDP Portal, as today.

This is a different protocol and order model. Some behaviours change — see [Order types](#order-types) below. Plan integration time accordingly.

### Migration Guides

The migration is covered in the 4 guides:

<CardGroup cols={2}>
  <Card title="Overview" icon="map">
    This guide covers the timeline, new products, order types, margin models, and the migration plan.
  </Card>

  <Card title="Technical Guide" icon="code" href="/coinbase-app/advanced-trade-apis/guides/derivatives/technical">
    The implementation reference: authentication, endpoint and schema mapping, and spec references.
  </Card>

  <Card title="Deribit Partners Guide" icon="https://mintcdn.com/coinbase-prod/phXOVZOc62bKg-Ju/icons/deribit.svg?fit=max&auto=format&n=phXOVZOc62bKg-Ju&q=85&s=2835c105c3254cb649486413884d36c0" href="/coinbase-app/advanced-trade-apis/guides/derivatives/deribit-partners" width="173" height="167" data-path="icons/deribit.svg">
    For registered Deribit partners — how the Coinbase integration affects an existing Deribit integration.
  </Card>

  <Card title="INTX Partners Guide" icon="globe" href="/coinbase-app/advanced-trade-apis/guides/derivatives/intx-partners">
    For partners on Coinbase's international (INTX) platform moving to the new Deribit-backed service.
  </Card>
</CardGroup>

## Timeline

| Milestone                     | Date           | What it means                                                                                                                                                                                                                            |
| :---------------------------- | :------------- | :--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Account provisioning**      | August 2, 2026 | Your accounts are created on the new combined platform                                                                                                                                                                                   |
| **Cutover**                   | Coming soon    | 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                                                                                                                                                                                    |

<Warning>
  **This is a hard cutover.** There is no parallel-running window — the old endpoints and the new gateway do not run side by side. Integrations not migrated by cutover stop trading.
</Warning>

### What happens at cutover

Your **positions and balances migrate automatically** — but your **open orders do not**.

<Steps>
  <Step title="Open orders are cancelled">
    All resting orders on International Exchange are cancelled. Re-place them on the new gateway after the switch.
  </Step>

  <Step title="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.
  </Step>

  <Step title="Balances transfer">
    Your collateral moves to your account on the combined platform automatically.
  </Step>
</Steps>

You may see multiple trade records, a reset of your average entry price, and a small temporary PnL variance — these are standard migration artifacts. No trading or settlement fees are charged for the migration.

## 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.

The four models combine these two settings:

| 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 |

Set or change your model with `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](/coinbase-app/advanced-trade-apis/guides/derivatives/technical#attaching-a-take-profit--stop-loss-otoco) |
| **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](/coinbase-app/advanced-trade-apis/guides/derivatives/technical). This is the action list:

<Steps>
  <Step title="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`

    Each request carries a method, parameters object, ID, and protocol version. Use REST for request-response, WebSocket for live event-driven flows.
  </Step>

  <Step title="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.
  </Step>

  <Step title="Update instrument names">
    Perpetuals become `{BASE}_USDC-PERPETUAL` (for example, `BTC-PERP-INTX` → `BTC_USDC-PERPETUAL`). Discover exact names via `public/get_instruments`.
  </Step>

  <Step title="Fund your derivatives account">
    Confirm collateral is in place via Coinbase before you trade.
  </Step>

  <Step title="Send numeric values as numbers">
    Prices and sizes are JSON numbers in and out; `amount` units follow the instrument.
  </Step>

  <Step title="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.
  </Step>

  <Step title="Refactor take-profit / stop-loss to OTOCO">
    Replace the single combined order with two linked exit orders.
  </Step>

  <Step title="Deribit Advanced Trading gateway is live">
    Cutover is coming soon, no parallel run. Repoint production traffic.
  </Step>
</Steps>

## FAQ

<AccordionGroup>
  <Accordion title="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.
  </Accordion>

  <Accordion title="Can I run old and new endpoints in parallel during cutover?">
    No. This is a hard cutover. Integrations not migrated by cutover stop trading.
  </Accordion>

  <Accordion title="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](#what-happens-at-cutover).
  </Accordion>

  <Accordion title="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.
  </Accordion>

  <Accordion title="How do I fund my derivatives account?">
    Funding stays on Coinbase and is unchanged. See [Funding](#funding) above.
  </Accordion>

  <Accordion title="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.
  </Accordion>

  <Accordion title="My stop-limit tracking broke after a trigger.">
    Expected. The engine issues a new order ID after the stop triggers. Track both IDs.
  </Accordion>

  <Accordion title="My retry loop keeps getting disconnected.">
    Expected. Rate-limit exhaustion disconnects you; it does not return a retryable HTTP 429. Implement credit-aware backoff.
  </Accordion>

  <Accordion title="Where do I get integration support?">
    Contact your Coinbase account manager.
  </Accordion>
</AccordionGroup>