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Collateral currency

Last updated: 11 жніўня 2026 г.

A collateral currency is a currency that can be used for trading using margin*.

The collateral currency you hold does not have to match the trading pair of the order book on which you plan to trade using margin. This is possible because when you open a position by purchasing or selling cryptocurrency on margin (going “long” or “short”), Kraken’s own funds are used to extend margin to you for the full amount of that purchase or sale.

Unstaked assets can be used as collateral for margin trading. Kraken Rewards assets (staked automatically) are eligible as collateral, while Kraken Pro Flexible Staking and Pro Bonded Staking assets are not eligible.

The collateral currencies on Kraken are:

AssetSymbolHaircut
AaveAAVE20%
AlgorandALGO10%
ArbitrumARB10%
AvalancheAVAX10%
BitcoinBTC1%
BittensorTAO20%
CardanoADA7.50%
CelestiaTIA10%
ChainlinkLINK10%
CosmosATOM10%
Curve DAO TokenCRV10%
DecentralandMANA20%
DogecoinDOGE7.50%
dogwifhatWIF20%
EthenaENA10%
EthereumETH1%
FartcoinFARTCOIN20%
Fetch.aiFET10%
FilecoinFIL20%
HyperliquidHYPE20%
InjectiveINJ20%
KaspaKAS20%
KusamaKSM20%
LitecoinLTC7.50%
MinaMINA20%
NEAR ProtocolNEAR20%
OndoONDO10.00%
PAX GoldPAXG3%
PepePEPE20%
PolkadotDOT7.50%
RenderRENDER20%
RippleXRP5%
SeiSEI10%
Shiba InuSHIB20%
SolanaSOL7.50%
SPX6900SPX20.00%
StacksSTX20%
StellarXLM10%
SuiSUI20%
The GraphGRT20%
THORChainRUNE20%
TRONTRX10%
TezosXTZ20%
UniswapUNI10%
AssetSymbolHaircut
DaiDAI10%
EURCEURC1%
Global DollarUSDG1%
Tether GoldXAUT40%
USDCUSDC0.50%
USD TetherUSDT0.50%
AssetSymbolHaircutCollateral Limit (USD)
SPDR S&P 500 ETF TrustSPYx10.00%$1,000,000
Invesco QQQ TrustQQQx10.00%$1,000,000
Apple Inc.AAPLx20.00%$250,000
Alphabet Inc. Class AGOOGLx20.00%$250,000
Tesla, Inc.TSLAx20.00%$250,000
NVIDIA CorporationNVDAx20.00%$250,000
Robinhood Markets, Inc.HOODx30.00%$250,000
Strategy IncorporatedMSTRx30.00%$250,000
SPDR Gold SharesGLDx20.00%$100,000
Circle Internet Group, Inc.CRCLx30.00%$100,000

Please note: xStocks are not available to US clients, and are therefore not available for US clients to use as collateral.

AssetSymbolHaircut
US DollarUSD0%
Canadian DollarCAD0%
EuroEUR0%
British PoundGBP0%
Australian DollarAUD0%
Swiss FrancCHF0%

Note: Collateral currencies used to open a spot position on margin can not be exchanged for other currencies or withdrawn while the spot position on margin is open. This means that, although your digital assets that are reserved as collateral currencies will show in your account balance, these assets will not be available to trade or withdraw. To see the amount available to trade or withdraw in any given asset, navigate to the Funding tab through your Kraken account, then click on Withdraw next to the specific asset.

What are Collateral Limits?

Collateral limits cap the amount of a given asset that counts toward your margin equity. Any balance above the limit is excluded from collateral value and from liquidation. For example, if an asset has a $100,000 collateral limit and a 5% haircut, a $150,000 balance yields $95,000 in collateral value, and the excess $50,000 is ignored in a liquidation event.

Kraken Futures

Kraken Futures supports the same collateral currencies although has a distinct margining system depending on the contract. See Futures Collateral Currencies for details.

*Availability of margin trading services is subject to certain limitations and eligibility criteria.

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