Coinbase International Exchange will undergo a scheduled shutdown for up to one hour on October 1, 2026, starting at 09:00 UTC. This downtime facilitates the migration of institutional derivatives clients to the Deribit platform, following Coinbase's acquisition of the company for approximately $2.9 billion in August 2025.
The process is classified as a hard migration, resulting in the cancellation of all open orders on the International Exchange. Existing positions will be settled at the current mark price and recreated on Deribit through block trades. Traders must manually reconstruct complex strategies and limit orders, as the order book will be reset.
Automated trading systems require reconfiguration, as existing API keys will not function on Deribit. Coinbase provided read-only access to new accounts starting September 22 to allow clients to prepare. Retail users are expected to experience an automatic transition with minimal manual intervention required.
Data from early September 2026 shows that Deribit held $39.26 billion in derivatives open interest for the Coinbase group. This accounted for 96.6% of the total $40.65 billion in open interest across the entire group, marking the final step in consolidating institutional derivatives trading onto a single platform.
