On September 12, Coinbase introduced Pulse Mode for mobile perpetual futures trading in the updated Coinbase Wallet app. This new mode offers a simplified interface for opening and managing positions using leverage. Users will be able to enter both long and short positions without leaving the app. It is important to note that the functionality of Pulse Mode remains restricted for users in the United States, who do not have access to perpetual trading. Coinbase emphasizes that trading these products carries significant risks and may not be suitable for every trader.
Pulse Mode was announced by Coinbase CEO Brian Armstrong in a post where he shared an image of the new interface and urged users to update the app. The new Pulse Mode interface is optimized for faster trading, focusing on market direction, position size, and order execution. However, Coinbase has not yet disclosed information on fees, leverage limits, or regional restrictions. The feature is only available to users outside the U.S. in select jurisdictions, which remains an important aspect for traders looking to utilize perpetual contracts. Coinbase claims that Wallet supports various types of trading, including cryptocurrencies, tokenized assets, and prediction markets.
According to the current description on Google Play, Coinbase Wallet's perpetual markets are powered by Hyperliquid. Coinbase has not clarified whether Pulse Mode changes the standard order processing, margin rules, or Hyperliquid's funding calculation. Public materials present the mode as an in-wallet interface, leaving the underlying infrastructure of perpetual trading unchanged.
Coinbase Wallet, formerly known as Base App, is now advertised as an integrated app allowing trading not only in perpetual futures but also in cryptocurrencies, tokenized assets, and other markets. Despite some updates, Coinbase has not announced a completion date for the rollout of Pulse Mode or potential expansion for U.S. users. Nevertheless, the company continues to strive to create a universal platform for asset trading, combining traditional and decentralized approaches. It is expected that Coinbase will provide more detailed information about Pulse Mode on its support pages and in the app, as only general information about self-management and trading is currently available. At present, Coinbase Wallet operates in over 170 countries and supports 20 languages, but access to perpetual trading is restricted for some jurisdictions.
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