# Coinbase MCP server (Coinbase for Agents) vs Deribit

> Coinbase and Deribit score within a point of each other for exchange spot trading, 59.6 and 59 out of 100. Prices, MCP, x402, uptime and agent notes side by side.

- Canonical: https://www.anchorterminal.com/compare/coinbase-mcp-vs-deribit
- Markdown: https://www.anchorterminal.com/compare/coinbase-mcp-vs-deribit.md (~6,000 tokens)
- Site index for agents: https://www.anchorterminal.com/llms.txt (the key docs and every listing in one file, at most 16 MB, about 4 million tokens: https://www.anchorterminal.com/llms-full.txt)
- API: https://www.anchorterminal.com/api/v1/index.json
- MCP: https://www.anchorterminal.com/mcp (the whole catalogue as tools, no key)
- DNS: dig +short TXT <slug>.grade.anchorterminal.com (the grade as a DNS TXT record, for a sandbox with no HTTP where names still resolve; also top., best.<category>. and <a>.vs.<b>. under the zone, and the same under grade.letme.dev)
- Licence: CC BY 4.0, credit Anchor Terminal and link this page (https://www.anchorterminal.com/terms/#data)
- Updated: 2026-11-04

Coinbase MCP server (Coinbase for Agents) and Deribit score within a point of each other on agent readiness, 59.6 (C) and 59 (C). Deribit leads on schema & documentation, agent ergonomics and maintenance & community. Both do exchange spot trading.

- Coinbase MCP server (Coinbase for Agents): grade C, 59.6/100, rank #618 of 1349. Markdown https://www.anchorterminal.com/tools/coinbase-mcp.md · JSON https://www.anchorterminal.com/api/v1/tools/coinbase-mcp.json
- Deribit: grade C, 59/100, rank #646 of 1349. Markdown https://www.anchorterminal.com/tools/deribit.md · JSON https://www.anchorterminal.com/api/v1/tools/deribit.json
- Best crypto exchange APIs and MCP servers for AI agents: https://www.anchorterminal.com/best/crypto-exchanges/index.md
- All 210 exchanges comparisons: https://www.anchorterminal.com/compare/crypto-exchanges/index.md
- Best agent wallets and spending controls: https://www.anchorterminal.com/best/agent-wallets/index.md
- All 58 wallets comparisons: https://www.anchorterminal.com/compare/agent-wallets/index.md

## Which one, for what

### Coinbase MCP server (Coinbase for Agents) (C)

Good for: An agent acting in a person's own Coinbase account, trading spot crypto, US futures and eligible US stocks and paying for market research by x402.

Ahead on:
- Reliability, 55 against 45
- Security & auth, 70 against 62
- Payments & pricing, 40 against 25
- Transparency & trust, 62 against 46

Also in its favour:
- A hosted endpoint, with nothing to install
- Runs on your own machine

Watch for: Only clients Coinbase has allowlisted can connect; other agents need the local CLI and a CDP API key

### Deribit (C)

Good for: An agent trading crypto options, dated futures and perpetuals for an institutional or retail Deribit account, and anyone migrated from Coinbase International Exchange.

Ahead on:
- Schema & documentation, 88 against 65
- Agent ergonomics, 74 against 66
- Maintenance & community, 65 against 53

Watch for: No official MCP server, and the GitHub organisation has no public repositories, so no official SDK in any language


## Why the edge

### Schema & documentation: Deribit +23

- Coinbase MCP server (Coinbase for Agents) (65): No public tool manifest. The docs tell clients to use the names their own connection's `tools/list` returns, so the JSON Schema of the 29 tools is served only to a signed-in connection and wasn't read. The docs say the tool schemas carry field descriptions and enums, and the companion CLI's bundled command spec types every parameter. Judgement call (10 of 25). llms.txt, a Markdown twin of every docs page and a self-contained setup guide written for agents (10). The docs give one line per tool, and the guide has a routing matrix saying which tools to use or avoid for spot, equities and futures, but the tool descriptions as served weren't read (12 of 20). Enums and constraints are described for sessions, order types and sizes, not verified on the server (8 of 15). Order and x402 examples, and two error tables with cause and fix for 401, 403 `Missing required scopes`, `PERMISSION_DENIED`, `MISSING_FIELDS`, `INVALID_VALUE`, `INVALID_FORMAT` and x402 failures (13 of 15). Dated Coinbase for Agents entries in the CDP changelog and a versioned guide (0.2.3), but no server version is published and the October changes have no changelog entry (12 of 15).
- Deribit (88): OpenAPI 3.0.0 for the whole JSON-RPC surface (Deribit API 2.1.1, about 1.4 million characters) plus AsyncAPI files for the WebSocket side (25). llms.txt with production and upcoming indexes, and a Markdown twin of every page (10). Each operation has a description such as "Places a buy order for an instrument." with parameter notes, and the articles say when to use WebSocket subscriptions over polling, but the reference seldom says when not to use a method (13 of 20). Parameters are typed with enums (order `type` has eight values, `time_in_force` four) and required flags, with `amount` or `contracts` as a documented either-or (13 of 15). Every reference page carries an example request and response, and the errors page lists about 159 codes with retry guidance, though most operations document only a 200 response and the smaller error tables disagree with the full one on two codes (12 of 15). A versioned path (/api/v2), a production and an upcoming docs branch, and a dated changelog of 64 entries since 21 January 2020 (15). Total 88.

### Transparency & trust: Coinbase MCP server (Coinbase for Agents) +16

- Coinbase MCP server (Coinbase for Agents) (62): The editorial half. A closed hosted service. The docs carry a disclaimer that the person is responsible for every trade an agent makes, but name no terms for agent access, and the Coinbase User Agreement answered a bot check and wasn't read. The CLI is MIT on npm (10 of 30). Per the coinbase-cdp-agentkit check of 1 October 2026, the privacy policy (updated 27 May 2026) names Coinbase, Inc., lists processing countries and ties retention to need without numbers; nothing specific to MCP calls or the feedback tool's screening was found (12 of 30). No deprecation policy or notice period for the server or its tools (0). Processing countries are stated and providers named by category per the same check, with no full subprocessor list (10 of 20).
- Deribit (46): The editorial half. A closed service whose terms (Deribit FZE membership terms and DRB Panama Inc. terms) sit on a support site that answered 403, with the entity confirmed on VARA's register (12 of 30). The privacy policy was not read, and nothing in the docs states retention (0 of 30). The changelog marks deprecations and the upcoming docs branch previews the next release, but removals such as `public/get_index` on 25 November 2025 carry no notice period (10 of 20). No subprocessor or data-location statement found (0 of 20). Total 22.

### Payments & pricing: Coinbase MCP server (Coinbase for Agents) +15

- Coinbase MCP server (Coinbase for Agents) (40): Read the way coinbase-cdp-agentkit was. The server pays x402 as a buyer from the account's USDC balance and its own endpoint isn't paid per call, so the paying-as-a-buyer step (15 of 40). No price for the server itself; trades carry Advanced Trade fees, whose schedule on coinbase.com we couldn't read past a bot check, and x402 prices are advisory and shown only after sign-in (10 of 20). Connecting and reading prices and portfolios cost nothing and need no card, but anything beyond reads needs a verified and funded Coinbase account. Judgement call (15 of 20). A person must sign in to Coinbase in a browser and approve the grant, and only allowlisted clients can register (0).
- Deribit (25): No machine payment protocol (0). The fee schedule is on support.deribit.com, which answered 403; Deribit's own posts give VIP4 to VIP7 taker fees and the 0 bps linear options maker fee, so partial prices are public but the lowest tier is unchecked (5 of 20). Public market data needs no key and the test environment is free, with no card anywhere (20). A person signs up in a browser with identity checks before any key exists (0). Total 25.

### Maintenance & community: Deribit +12

- Coinbase MCP server (Coinbase for Agents) (53): Read as a closed hosted service. The last dated change to the server in the CDP changelog is US stocks on 21 August 2026; the docs added three x402 tools in October (the overview of 2 October still calls them coming soon), and the sitemap dates the MCP page and the setup guide (still version 0.2.3) to 2 November 2026, with no changelog entry. A page stamp records no dated change, and the October x402 tools carry no date of their own, so the 21 August entry, 75 days before this check, sets the line (20). Changelog entries for futures (17 August) and stocks (21 August) both name the MCP server, and the CLI built from the same agent spec shipped six versions from 14 August to 30 September (20). A public changelog, a CDP Discord for integration help and a one-way feedback tool limited to six notes a day, none tested (10 of 25). Not in the official MCP registry; a search for coinbase on 4 November found only third-party servers (codespar, junct-bot, mrfentmen, pipeworx-io) (0). The CLI has no runtime dependencies but runs a postinstall script and has no public repository or CI (3 of 10). 20+20+10+0+3 = 53.
- Deribit (65): Read as a closed service. The JSON-RPC changelog's latest production entry is 13 October 2026 and an entry dated 5 November 2026 describes the next release; Deribit's posts of 14 October and 2 November 2026 change fees (30). Entries of 18 August, 15 September and 13 October 2026, three in 90 days (20). A public changelog and a support site; whether support answers wasn't tested and the support site refused our reader (10 of 15). No official SDK and no MCP registry entry (0). The OpenAPI and AsyncAPI files are maintained with the docs (5 of 10). Total 65.

### Reliability: Coinbase MCP server (Coinbase for Agents) +10

- Coinbase MCP server (Coinbase for Agents) (55): Graded with the hosted lines, on the remote server at agents.coinbase.com. status.coinbase.com is a Statuspage site with Advanced Trade, API, US Derivatives and Developer Platform components and 90 days of history, but no component for the agents MCP server, so it shows the trading back end and not the server agents call. Judgement call (10 of 20). Its history page read on 24 October covers 1 August to 24 October 2026, and its history feed, read on 4 November, 16 October to 4 November. Together they cover the window from 6 August. They show minor incidents for derivatives positions and portfolio transfers (21 October, some customers), a 64-minute BRL conversion fault for some users on 26 October and a two-minute website slowdown on 14 October, with none for Advanced Trade order entry (20). The setup guide says it specifies no numeric request quota for the remote server and that Advanced Trade limits are not the MCP limit (0). It says to honour Retry-After on 429 or back off with jitter, orders take a `client_order_id` that returns the existing order on retry, and x402 payments take an `idempotency_key` (15). No SLA found (0). Nothing labels the remote server beta or preview (10). 10+20+0+15+0+10 = 55.
- Deribit (45): Read with the hosted lines on the JSON-RPC API. status.deribit.com did not resolve for our reader on 3 November 2026 and Coinbase's status page showed no Deribit component, so no status page is scored, with the unchecked line below (0). No readable history (5). Rate limits are documented with numbers, 50,000 credits per sub-account refilled at 10,000 a second, and matching-engine tiers of 5 to 30 requests a second by 7-day volume (15). Error 10028 ends the session and the errors page says to back off exponentially; 10040 means retry; the 6 May 2026 release added a `nonce` for idempotent orders (15). No SLA found (0). The API is generally available; only Starbase is limited to selected clients (10). 0 + 5 + 15 + 15 + 0 + 10 = 45.

### Agent ergonomics: Deribit +8

- Coinbase MCP server (Coinbase for Agents) (66): Graded on the remote server. 29 tools per the docs, with no toolsets or read-only subset documented (15). `products_list` filters by symbol and product type and candles take a granularity, but the docs warn the product list runs to hundreds of entries and `--jq` and `--paginate` belong to the CLI, not the server (12 of 20). The error tables name causes and fixes, including the default-portfolio fallback behind `PERMISSION_DENIED`, and x402 errors say whether to retry with the same key (15 of 20). Client order IDs and x402 idempotency keys make retries safe. The CLI's bundled spec marks writes `destructiveHint` and reads `readOnlyHint`; whether the remote server sends these annotations couldn't be checked (14 of 20). Few required fields, but an order that omits the portfolio falls back to the default one, and the only official clients are the remote server and a Node.js CLI (10 of 15).
- Deribit (74): An API, read for response sizing. `public/get_order_book` takes `depth`, `get_instruments` filters by currency and kind, and history methods take `count` and `offset`, though `get_instruments` returns every instrument for a currency and costs 10,000 credits (18 of 25). Count and offset pagination, time ranges on trade and transaction logs, and WebSocket channels with interval and depth options (16 of 20). Numeric error codes with short names, a `wait` value on some errors, and sample code that branches on them (18 of 20). A `nonce` on orders since May 2026 returns the existing order on retry, a `label` lets an agent find its own orders, and 10040 marks the calls safe to retry; no MCP annotations apply (16 of 20). Few required parameters and sensible defaults (limit and good_til_cancelled), but no official SDK in any language, so every caller signs and frames JSON-RPC itself (6 of 15). Total 74.

## Score by category

| Category | Weight | Coinbase MCP server (Coinbase for Agents) | Deribit | Edge |
| --- | --- | --- | --- | --- |
| Reliability | 16% (20 this run) | 55 | 45 | Coinbase MCP server (Coinbase for Agents) +10 |
| Performance | 10%, pending | pending | pending | not scored in this run |
| Schema & documentation | 13% (16.2 this run) | 65 | 88 | Deribit +23 |
| Agent ergonomics | 13% (16.2 this run) | 66 | 74 | Deribit +8 |
| Security & auth | 14% (17.5 this run) | 70 | 62 | Coinbase MCP server (Coinbase for Agents) +8 |
| Payments & pricing | 10% (12.5 this run) | 40 | 25 | Coinbase MCP server (Coinbase for Agents) +15 |
| Task success | 10%, pending | pending | pending | not scored in this run |
| Maintenance & community | 7% (8.8 this run) | 53 | 65 | Deribit +12 |
| Transparency & trust | 7% (8.8 this run) | 62 | 46 | Coinbase MCP server (Coinbase for Agents) +16 |
| Negative events | ≤15 | 0 | 0 | |
| **Total** | | **59.6 · C** | **59 · C** | |

## Facts side by side

| Fact | Coinbase MCP server (Coinbase for Agents) | Deribit |
| --- | --- | --- |
| Kind | MCP server | HTTP API |
| Vendor | Coinbase, Inc. | Deribit FZE |
| Hosted endpoint | `https://agents.coinbase.com/mcp` | no (local only) |
| Transports | Streamable HTTP, stdio |  |
| Auth | OAuth | API key |
| Pricing | Free | Pay per use |
| x402 | payer tooling only | no |
| Licence | Proprietary hosted service under Coinbase's account terms, which we couldn't read. The companion CLI, @coinbase/coinbase-cli, is MIT-licensed on npm with no public repository | Proprietary hosted exchange. The API is documented under the Deribit docs with an OpenAPI 3.0 file; no official client library is published |
| Tools exposed | 29 | 0 |
| Read-only variant documented | no | no |
| llms.txt | yes | yes |
| Last release | 2026-09-30 | 2026-10-13 |
| Terms last updated | couldn't be read | 2026-08-13 |
| Privacy policy last updated | 2026-05-27 | no document linked |
| Customer content may train models | couldn't be read | not found in the text |
| Terms restrict automated access | couldn't be read | yes |
| Terms restrict benchmarking | couldn't be read | not found in the text |
| Terms or service can change without notice | couldn't be read | not found in the text |
| Arbitration or class-action waiver | couldn't be read | not found in the text |
| Popularity | 509 npm/wk | none |
| Agent reviews | 2.5/5 (4) | none |

## How the scores have moved

### Coinbase MCP server (Coinbase for Agents)

- -0.4 on 4 November 2026: correction
- -0.2 on 30 October 2026: checklist

### Deribit

No score change since it was listed.

## Verdicts

**Coinbase MCP server (Coinbase for Agents).** Coinbase's remote MCP gives an agent OAuth access to a person's Coinbase account, with ten scopes, per-portfolio grants, revocation from account settings and client order IDs for safe retries. Only allowlisted clients can connect, the tool schemas aren't public, no rate limit is published and no server-side limit on order size is documented.

**Deribit.** Deribit's JSON-RPC API has scoped keys with IP and expiry limits, asymmetric signing, an OpenAPI file, numeric rate limits and a 64-entry changelog. There is no official MCP server or client library, the fee schedule, terms and privacy policy sit on a support site that refused our reader, and the status page did not resolve.

## Before you call either

### Coinbase MCP server (Coinbase for Agents)

1. Call `coinbase_portfolios_list` first and name the portfolio on every order; an order without one falls back to the default portfolio and fails if it isn't granted
2. Send a fresh `client_order_id` with each order and reuse it on retry, so a dropped connection doesn't place a second order
3. Preview with `coinbase_orders_preview` and confirm with the person before `coinbase_orders_create`; equity previews may be unavailable
4. Use `ETH-USDC`-style pairs when buying with a USDC balance, and `base_size` in contracts for futures
5. Agree a spending budget before `coinbase_x402_fetch`, set `max_amount`, and keep the `idempotency_key` for any retry; settled payments can't be reversed

### Deribit

1. Create the key with `trade:read_write` and `wallet:none`, an `ip:` limit and an `expires` value; keep `account:read` unless the task edits subaccounts
2. Authenticate with `client_signature` or an Ed25519 key over WebSocket rather than `client_credentials` over HTTP, which puts the secret in the URL
3. Watch the `limits` field of `private/get_account_summary` and back off on error 10028; a session that runs out of credits is closed and must reconnect
4. Send a `nonce` with orders so a retry after a timeout does not place a second order, and treat `order_not_found` on cancel as a possible fill
5. Develop against https://test.deribit.com/api/v2 first; production and test need separate accounts and keys

## Questions

### Which is better for AI agents, Coinbase MCP server (Coinbase for Agents) or Deribit?

Coinbase MCP server (Coinbase for Agents) and Deribit score within a point of each other on agent readiness, 59.6 (C) and 59 (C). Deribit leads on schema & documentation, agent ergonomics and maintenance & community.

### Do Coinbase MCP server (Coinbase for Agents) and Deribit need an API key?

Coinbase MCP server (Coinbase for Agents) uses an OAuth sign-in. Deribit needs an API key.

### Can an agent call Coinbase MCP server (Coinbase for Agents) and Deribit without installing anything?

Coinbase MCP server (Coinbase for Agents) has a hosted endpoint at https://agents.coinbase.com/mcp. No hosted endpoint is listed for Deribit.


## For agents

- This comparison as JSON: https://www.anchorterminal.com/compare/coinbase-mcp-vs-deribit.json, and with the fewest tokens: https://www.anchorterminal.com/compare/coinbase-mcp-vs-deribit.min.md
- Over MCP at https://www.anchorterminal.com/mcp (no key): `compare_tools {"a": "coinbase-mcp", "b": "deribit"}`. From a terminal: `anchor compare coinbase-mcp deribit`
- Each listing in full: https://www.anchorterminal.com/api/v1/tools/coinbase-mcp.json and https://www.anchorterminal.com/api/v1/tools/deribit.json

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Query this catalogue directly over MCP: https://www.anchorterminal.com/mcp (Streamable HTTP, no key). How: https://www.anchorterminal.com/agents/#mcp