Key Highlights
- Coinbase Markets will suspend trading for TRIA-PERP, NEO-PERP, and IMX-PERP on June 4, 2026.
- The exchange said funding rates for the final funding period will be set to zero.
- Coinbase retained the right to suspend trading earlier or adjust settlement prices if needed.
Coinbase Markets, the trading ecosystem, has decided to halt trading in three perpetual futures instruments, which include TRIA-PERP, NEO-PERP, and IMX-PERP, starting on June 4, 2026, at around 13:00 UTC.
According to the official announcement, any open positions of the three futures instruments will automatically be closed upon the halt. Settlement prices for the closing of the positions will be computed as the average index price in the last 60 minutes before the halt. Funding rates for the last funding period shall be zero.
Coinbase notes that it also reserved the right to suspend trading earlier or adjust the settlement price if necessary to protect market integrity.
Reasons revolving delistings
Perpetual futures are often delisted due to lack of liquidity or low volumes or when failing to meet the internal market quality criteria set out by the exchange. Coinbase often reviews its perpetual futures contracts and delists some of them when they are no longer performing up to expected levels or have low liquidity.
For traders who have open positions on TRIA, NEO, or IMX perpetuals, it is advisable to close or rollover positions before the June 4 expiry date in order to avoid forced liquidation. Forced liquidation will convert positions based on the calculated index price that might differ from the current market price.
The TRIA Token is the native currency of Tria, which is a self-custodial neobank platform that allows for cross-chain trade, spend, and earn functionality. The NEO Token is the native currency of the NEO blockchain, a legacy smart contract platform that is mainly used for building decentralized applications and storing digital assets. IMX is the native currency of Immutable X, a Layer-2 scaling network on the Ethereum blockchain.
Similar move taken a month ago
In a similar move, a month ago, Coinbase revealed the halt of the trading for 25 perpetual futures products within its advanced and international exchange offerings. This was one of the many measures taken by the exchange to improve its derivatives offerings by eliminating those with low liquidity and poor market quality.
These products include various altcoins and meme coins like TRB-PERP, NEIRO-PERP, ME-PERP, RAY-PERP, ENS-PERP, FLOKI-PERP, ORDI-PERP, and more. All existing positions were automatically closed based on the average index price during the last 60 minutes prior to suspension. Coinbase stated that only contracts meeting its strict liquidity and market-quality standards will be retained.
Dynamic nature of the crypto derivatives market
The crypto derivative market has witnessed rapid growth in recent times; however, the competition within it is quite fierce. Platforms constantly update their listings in accordance with their performance. For the TRIA, NEO, and IMX community, such a change might create volatility prior to the day of suspension.
This particular suspension highlights the dynamism in the crypto derivatives market, wherein the factors of liquidity and trading volume play an important role in determining whether the coin should be listed for a long time. As the June 4 deadline approaches, affected users should review their positions and plan accordingly to minimize any unintended settlement outcomes.
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