Coinbase US500 futures logged a $104 million volume peak during launch week, then fell to $7.22 million in a later 24-hour snapshot. Open interest stood at $3.01 million at that reading, with a negative funding rate of 0.0001 percent, with shorts paying longs. The product uses an hourly funding mechanism imported from crypto perpetuals, embedded within a regulated US equity-index futures contract expiring in December 2030 and tied to the MarketVector Top 500 US Profitable Companies Continuous Index. The launch-week volume shows traders tested the contract, but sustained volume, persistent open interest and durable liquidity will determine whether usage continues.
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