Comparison
Polymarket Perps vs Coinbase International Perps (2026)
Coinbase International offers crypto perpetuals to non-US traders out of Bermuda with a regulated wrapper around a centralised order book. Polymarket Perps offers self-custody perpetuals on Polygon with pUSD collateral. Both are bidding for the same non-US, crypto-native audience.
Bottom line
Trade Coinbase International if you want a regulated wrapper and integrated CEX UX. Trade Polymarket Perps for self-custody, on-chain settlement, and access to equities/commodities perps from the same wallet you use for prediction markets.
At a glance
| Polymarket Perps | Coinbase International Perps | |
|---|---|---|
| Custody | Self-custody on Polygon | Custodial |
| Asset coverage | Crypto + equities + commodities | Crypto only |
| Settlement | pUSD on Polygon | USDC |
| Max leverage | Up to 250x (marketing) | Up to 20x |
| KYC | Wallet only | Full KYC required |
| Public API | Gamma/CLOB extensions in flight | Full REST + FIX |
Best for: Polymarket Perps
Self-custody traders who want crypto + equities + commodities exposure in one venue.
Best for: Coinbase International Perps
Non-US traders who prefer a regulated CEX experience with deep crypto-only books.
Watch out for
- Coinbase International is unavailable to US residents and to several EU jurisdictions.
- Polymarket Perps spreads will be wider than Coinbase's on mainstream crypto pairs at launch.
FAQ
- Is Polymarket Perps regulated?
- Polymarket holds a CFTC Designated Contract Market (DCM) registration in the US. The perps product is being rolled out within that perimeter. Specific availability for US residents will depend on the final scope of the DCM filing.