Coinbase API: Advanced trades double-count the fee when selling an asset for USDC
blocked / no fix possible
Jack
When I try to sync my Coinbase account with Koinly using "Continue with Coinbase" connection, I get "Missing purchase history" errors on USDC.
I've noticed that the missing amount is always equal to the fee listed on selling some asset for USDC using advanced trades.
However, Koinly imports the trades exactly as they appear when I log into Coinbase (same subtotal/fee/subtotal values).
Issue status
Coinbase is misrepresenting the data for those advanced trades and we are inheriting the issue.
While we are reviewing possible workaround, since the issue is with corrupted data at data source, it may not be possible.
Workaround
Edit the transaction, click "Edit locked fields", remove the fee. Repeat this for all SOMETHING>>USDC trades that happened up to Jan 3rd 2024
P
Petur
Update from Coinbase:
After reporting this to the CB team, they have been able to identify the issue on their side. They have added a fix so that this issue will no longer occur for any transactions taking place after January 3rd, 2024.
Historical transactions will still be affected, so we recommend that you either adjust these transactions manually or use CSV files for your historical import.
Coinbase have stated that they are going to fix the historical transactions as well, but they are not able to provide an ETA for this.
P
Petur
blocked / no fix possible
Jack
Merged in a post:
Something wrong with USDC fees on Coinbase API
C
Clenio C
I've noticed in more than one account (I have multiple Koinly accounts) that something seems to be wrong with the USDC transaction fees calculation in the Coinbase integration. All cases I noticed were related to recently added transactions that were added using the Coinbase API (maybe they changed the data structure that comes through their API?).
The calculation seems to be wrong and "Missing purchase history" errors of small USDC values start to pop up. So far, I've only experienced this issue on transactions involving USDC.
Jack
Coinbase had an issue with their database (they were overreporting USDC fees) for some time. They have fixed this since but not for historical transactions, unfortunately.
See this post for details and a workaround:
P
Petur
Update from Coinbase:
After reporting this to the CB team, they have been able to identify the issue on their side. They have added a fix so that this issue will no longer occur for any transactions taking place after January 3rd, 2024.
Historical transactions will still be affected, so we recommend that you either adjust these transactions manually or use CSV files for your historical import.
Coinbase have stated that they are going to fix the historical transactions as well, but they are not able to provide an ETA for this.
This post was marked as
planned