In addition to the margin* fees (opening and rollover) listed below, the usual trade fee will be applied to the opening and closing volume of a spot position on margin (but there is no fee for settling a spot position on margin).

Margin fees are charged based on the total value of the order. Collateral held is not deducted from that amount.

For long positions, margin fees are charged with a preference to the quote currency of the position’s currency pair. For short positions, margin fees are charged with a preference to the base currency.

Example

If you go Long on BTC/USD

Kraken provides the USD (used to purchase the longed BTC) to open the position and thus margin fees are preferred in the quote currency - USD in this case.

If you go Short on BTC/USD

Funds from our BTC margin pool are used to open the position and thus margin fees are preferred in the base currency - BTC in this case.

Note: if you enter into a spot position on margin without the preferred base or quote collateral currency in your account balances, fees may be debited in any other eligible collateral currency held in your Kraken account. For example, if you purchase BTC using an extension of margin in USD, but the only collateral currency you have is ETH, your ETH balance will be debited to pay your  opening and rollover fees.

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

The decimal and thousands separators shown in this article may differ from the formats displayed on our trading platforms. Review our article on how we use points and commas for more information.