Dark Pool

What is the Dark Pool?

The dark pool is an order book not visible to the rest of the market. Each trader only knows their own orders. This allows traders to anonymously place large buy or sell orders without revealing their interest to other traders.

Why have it?

Typically large orders, when seen by other traders will cause the market to move unfavorably, making it more difficult to fill the order at the desired price. This unfavorable price movement may be avoided with a dark pool order.

So, advantages of using dark pool orders are reduced market impact and better price for large trades.

Which pairs can be traded?

The dark pool is currently only available for Bitcoin (XBT) and Ethereum (ETH) currency pairs.

Ethereum pairs:

  • ETH/CAD 
  • ETH/EUR 
  • ETH/GBP 
  • ETH/JPY
  • ETH/USD 

Bitcoin pairs:

  • XBT/CAD 
  • XBT/EUR 
  • XBT/GBP
  • XBT/JPY
  • XBT/USD

Bitcoin ↔ Ethereum:

  • ETH/XBT

Requirements

  • Dark pool trading is available to all Kraken clients with accounts verified to Tier 2 or higher.
  • The minimum dark order size is 50 XBT / 2500 ETH.
  • Only limit orders are supported.

Fees

Trading fees for dark orders range from 0.20% to 0.36%, which is an extra 0.20% compared to normal limit order rates (0% to 0.16%). Rates depend on your 30-day trading volume (in USD).

You can see the fees on our Fee Schedule page. Dark pool trading pairs are designated by a “.d” extension (e.g. 'XBTUSD.d').

How to place a Dark Pool Order

You can access the dark pool trade pairs from the advanced order form. They are listed at the bottom of the drop-down menu under "DarkPool".

dark_pool_orers.png

Further Reading

Read more about the introduction of the Dark Pool on our blog: