The availability of margin trading services is subject to certain limitations and eligibility criteria.
Kraken maintains margin pools in 23 cryptocurrencies and four cash currencies, which allow you to trade using margin.
What Are The Margin Allowance Limits?
The margin allowance limits for each currency vary based on your current verification level.
|
|
Intermediate |
Pro |
|
British Pounds * |
10,000 GBP |
20,000 GBP |
|
Canadian Dollars * |
10,000 CAD |
50,000 CAD |
|
Euros * |
65,000 EUR |
550,000 EUR |
|
US Dollars * |
70,000 USD |
600,000 USD |
|
Algorand |
24,000 ALGO |
60,000 ALGO |
|
Augur |
2,000 REP |
2,500 REP |
|
Bitcoin |
25 BTC |
250 BTC |
|
Bitcoin Cash |
50 BCH |
500 BCH |
|
Cardano |
350,000 ADA |
1,000,000 ADA |
|
Chainlink |
2,500 LINK |
20,000 LINK |
|
Cosmos |
1,600 ATOM |
4,000 ATOM |
|
Dash |
200 DASH |
500 DASH |
|
EOS |
5,000 EOS |
20,000 EOS |
|
Ethereum |
250 ETH |
2,500 ETH |
|
Ether Classic |
2,500 ETC |
10,000 ETC |
|
Filecoin |
1,280 FIL |
3,200 FIL |
|
Litecoin |
500 LTC |
3,500 LTC |
|
Lumen |
120,000 XLM |
300,000 XLM |
|
Monero |
500 XMR |
1,000 XMR |
|
OmiseGO |
3,200 OMG |
4,000 OMG |
|
Polkadot |
10,000 DOT |
40,000 DOT |
|
Ripple |
250,000 XRP |
1,000,000 XRP |
|
Tezos |
15,000 XTZ |
100,000 XTZ |
|
Tether |
50,000 USDT |
500,000 USDT |
|
Tron |
10,000,000 TRX |
25,000,000 TRX |
|
USD Coin |
10,000 USDC |
20,000 USDC |
|
Zcash |
160 ZEC |
400 ZEC |
*CAD, EUR, GBP and USD margin allowance limits only apply to long positions. See below for further explanation.
If you try to open a spot position on margin that exceeds your allowance limits, you will see a "Margin allowance exceeded" error.
How Do Margin Allowance Limits Work?
Margin allowance limits are separate for each currency. So an Intermediate client could use up to 50,000 EUR and 50,000 USD from our margin pools at the same time (assuming there are funds available in the pool).
Margin allowance limits are a total per currency, not a total per position. So an Intermediate client can create a single BTC/USD long position for 50,000 USD, or five BTC/USD long positions at 10,000 USD each.
Margin allowance limits are reset when you close a position, which automatically repays the funds to our margin pool.
Note: Where the margin pool funds are derived from depends on the trading pair and whether you are long or short.
Long vs short
For a crypto-to-cash pair like BTC/USD:
- To go long (i.e. buy BTC), funds from the USD pool are used and thus the USD allowance limits apply.
- To go short (i.e. sell BTC), funds from the BTC pool are used and thus the BTC allowance limits apply.
For a crypto-to-crypto pair like ETH/BTC:
- To go long (i.e. buy ETH), funds from the BTC pool are used and thus the BTC allowance limits apply.
- To go short (i.e. sell ETH), funds from the ETH pool are used and thus the ETH allowance limits apply.
Note: The limits for going short are not supposed to be the same as the limits for going long. Limits are not based on the exchange rate. They are based on how much of each currency we have available in our margin pools.
Examples
Your account is Intermediate verified and you want to open a long position in bitcoin against cash. The maximum size of your position, assuming you had enough collateral to open it, would be 50,000 USD worth of bitcoin plus 50,000 euro worth of bitcoin. The number of bitcoins that it would be possible to buy in these positions would depend on the current price of bitcoin. The limit would not be 25 bitcoin (the Intermediate allowance for bitcoin).
If you wanted to open a short position in bitcoin against USD, EUR or ETH, the limit on the size of the position would be 25 bitcoin because when you are shorting bitcoin, you are using Kraken’s funds from the BTC margin pool.