cbBTC Leveraged Long by Coinbase

cbBTC is Coinbase's wrapped Bitcoin, backed 1:1 by BTC held in Coinbase custody. It brings Bitcoin on-chain as a liquid, institutionally custodied ERC-20 usable as collateral across DeFi.

How the strategy works

This is a leveraged long on cbBTC: you supply cbBTC as collateral, borrow USDC against it on Morpho, and loop to increase exposure to BTC. Every cost and liquidation threshold is shown upfront before you confirm.

Strategy details

Collateral asset

Coinbase Wrapped BTC (cbBTC)

Borrowed asset

USDC

Issuer

Coinbase

Yield source

None

Underlying

BTC

Category

BTC

Network

Ethereum

Protocol

Morpho

Live metrics

Collateral APY

0.00%

Net borrow APY

4.69%

Max leverage

7.0x

Default leverage

6.7x → -26.73% APY

Leverage ladder

1x 0.00% · 2x -4.69% · 3x -9.38% · 4x -14.07% · 5x -18.76% · 6x -23.45% · 7x(max) -28.14%

Oracle type

market

Exit slippage

$100k 0.18% · $500k 0.28% · $1M 0.40% · $5M 0.99% · $10M 0.69%

as-of 2026-09-29T07:25:49.782Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1

Coinbase website · All strategies