Market Data
From launch until September 30, 2025, market data will be offered for free to verified Non-Professional clients (all accounts).
Professional clients will not be able to subscribe to market data at this time and will not be able to trade.
Market data provides real-time information about the prices and order activity in a specific futures market. This data is essential for informed trading decisions and is a requirement to place trades on Kraken Derivatives US.
At a minimum, clients must have Level I market data for the specific contract they wish to trade. This requirement ensures traders are operating with up-to-date pricing and can better manage risk in fast-moving markets.
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Level I (Top-of-Book): Displays the last traded price, the current best bid, and best ask price. This is sufficient for most traders using basic order tickets or trading from charts.
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Level II (Market Depth): Includes all Level I data, plus information on the number of contracts resting at each price level above and below the current price. This is useful for advanced traders who analyze the full order book.
Note: Level II data is not faster than Level I—it simply contains more detailed order book information. Most retail traders find Level I data sufficient for execution.
Yes. In order to trade any futures contract on Kraken Derivatives US, you must be subscribed to at least Level I data for the relevant exchange and product. If you attempt to place a trade without active market data, your order will be blocked until a subscription is enabled.
Kraken Derivatives US will only offer market data for CME Group cryptocurrency futures (e.g., BTC, MBT, ETH, MET, GSOL, MSL) at the moment. Data for other exchanges or asset classes will be added in the future.
Only CME cryptocurrency market data is offered at MVP. Subscriptions may be purchased using your Kraken Derivatives US account balance.
| Client Type | Market | Level 1 (Top-of-Book) | Level 2 (Market Depth) |
|---|---|---|---|
| Non-Professional | CME | $4.00/month | $16.00/month |
| Professional | CME | Not available | $135.00/month |
Note: Professional clients cannot subscribe to Level I data alone and must purchase Level II access.
You can manage your market data subscriptions from your Account Dashboard. Subscriptions can be purchased using your futures account balance.
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Navigate to the Market Data section
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Choose between Level I and Level II CME data
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Confirm subscription and payment method
Once subscribed, market data will activate in your trading interface and enable order entry for the selected contracts.
Brokerage services are provided by NinjaTrader Clearing, LLC doing business as Kraken Derivatives US, a Futures Commission Merchant registered with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA ID #0309379).