Linear Multi-Collateral Derivatives Contract Specifications for clients in the European Economic Area

Geographic notice:

Below you can find detailed information on Kraken's linear multi-collateral perpetual and fixed maturity derivatives contracts.

Symbol

Base Currency

Min Lot

Tick Size

Max Position (Base)

Impact Mid (Base)

Margin Class & Max Pro Leverage

First Trading

PF_1INCHUSD

1inch (1INCH)

1

0.0001

6,000,000

18750 1INCH

Class C (10x)

24-Aug-2022

PF_AAVEUSD

Aave (AAVE)

0.01

0.01

60,000

31 AAVE

Class B (10x)

27-Jun-2022

PF_ACHUSD

Alchemy Pay (ACH)

1

0.000001

100,000,000

110000 ACH

Class D (10x)

26-Jul-2023

PF_ADAUSD

Cardano (ADA)

1

0.00001

60,000,000

7100 ADA

Class B (10x)

22-Mar-2022

PF_AGLDUSD

Adventure Gold (AGLD)

1

0.0001

3,000,000

4275 AGLD

Class C (10x)

23-Aug-2023

PF_AKTUSD

Akash (AKT)

1

0.0001

900,000

2150 AKT

Class D (10x)

19-Nov-2024

PF_ALGOUSD

Algorand (ALGO)

1

0.00001

17,500,000

25000 ALGO

Class B (10x)

06-Jul-2022

PF_ANKRUSD

Ankr Network (ANKR)

1

0.000001

50,000,000

130000 ANKR

Class D (10x)

14-Sep-2022

PF_API3USD

API3 (API3)

1

0.0001

2,000,000

4200 API3

Class C (10x)

31-Jan-2024

PF_APTUSD

Aptos (APT)

0.1

0.0001

750,000

900 APT

Class B (10x)

19-Oct-2022

PF_ARPAUSD

ARPA (ARPA)

1

0.00001

40,000,000

100000 ARPA

Class D (10x)

19-Jul-2023

PF_ATOMUSD

Cosmos (ATOM)

0.1

0.001

3,000,000

900 ATOM

Class B (10x)

22-Mar-2022

PF_AXSUSD

Axie Infinity (AXS)

0.1

0.001

700,000

1350 AXS

Class C (10x)

03-Aug-2022

PF_BADGERUSD

Badger (BADGER)

0.1

0.001

700,000

1150 BADGER

Class E (10x)

27-Mar-2024

PF_BALUSD

Balancer (BAL)

0.1

0.001

500,000

3600 BAL

Class C (10x)

21-Sep-2022

PF_BANDUSD

Band Protocol (BAND)

0.1

0.0001

2,400,000

4950 BAND

Class C (10x)

21-Sep-2022

PF_BATUSD

Basic Attention (BAT)

1

0.00001

10,000,000

25500 BAT

Class C (10x)

20-Jul-2022

PF_BCHUSD

Bitcoin Cash (BCH)

0.01

0.01

30,000

15 BCH

Class B (10x)

22-Mar-2022

PF_BICOUSD

Biconomy (BICO)

1

0.00001

5,000,000

23000 BICO

Class D (10x)

01-May-2024

PF_BLURUSD

Blur (BLUR)

1

0.0001

7,000,000

22500 BLUR

Class D (10x)

15-Feb-2023

PF_BONKUSD**

Bonk (BONK)

1000

0.000000001

100,000,000,000

410000000 BONK

Class B (10x)

21-Dec-2023

PF_CELRUSD

Celer Network (CELR)

1

0.000001

250,000,000

265000 CELR

Class D (10x)

22-Aug-2024

PF_CHZUSD

Chiliz (CHZ)

1

0.00001

45,000,000

82500 CHZ

Class C (10x)

20-Jul-2022

PF_COMPUSD

Compound (COMP)

0.1

0.001

100,000

82.5 COMP

Class C (10x)

13-Jul-2022

PF_COTIUSD

COTI (COTI)

1

0.00001

15,000,000

37500 COTI

Class D (10x)

30-Apr-2024

PF_CRVUSD

Curve DAO (CRV)

1

0.0001

12,000,000

9000 CRV

Class B (10x)

27-Jun-2022

PF_CTSIUSD

Cartesi (CTSI)

1

0.00001

15,000,000

40000 CTSI

Class D (10x)

29-May-2024

PF_CVXUSD

Convex Finance (CVX)

1

0.0001

500,000

1150 CVX

Class D (10x)

30-Mar-2023

PF_DASHUSD

Dash (DASH)

0.1

0.001

70,000

157.5 DASH

Class C (10x)

24-Aug-2022

PF_DOGEUSD

Dogecoin (DOGE)

1

0.000001

200,000,000

33750 DOGE

Class A (10x)

20-Jun-2022

PF_DOTUSD

Polkadot (DOT)

0.1

0.001

3,500,000

1200 DOT

Class B (10x)

22-Mar-2022

PF_DRIFTUSD

Drift Protocol (DRIFT)

1

0.00001

5,000,000

4500 DRIFT

Class E (10x)

11-Jul-2024

PF_EGLDUSD

MultiversX (EGLD)

0.01

0.01

60,000

232.5 EGLD

Class C (10x)

07-Sep-2022

PF_ENSUSD

Ethereum Name Service (ENS)

0.1

0.001

400,000

310 ENS

Class B (10x)

28-Sep-2022

PF_EOSUSD

EOS (EOS)

1

0.0001

25,000,000

6000 EOS

Class B (10x)

22-Mar-2022

PF_ETHUSD

Ethereum (ETH)

0.001

0.1

16,000

3.5 ETH

Class A (10x)

22-Mar-2022

PF_FETUSD

Artificial Superintelligence Alliance (FET)

1

0.00001

5,000,000

7500 FET

Class C (10x)

23-Mar-2023

PF_FIDAUSD

Bonfida (FIDA)

1

0.00001

10,000,000

28500 FIDA

Class D (10x)

25-Sep-2024

PF_FILUSD

Filecoin (FIL)

0.1

0.001

4,000,000

1700 FIL

Class B (10x)

22-Mar-2022

PF_GALAUSD

GALA (GALA)

1

0.00001

120,000,000

232500 GALA

Class C (10x)

03-Aug-2022

PF_GIGAUSD

Gigachad (GIGA)

1

0.00001

40,700,000

77500 GIGA

Class E (10x)

13-Dec-2024

PF_GMTUSD

GMT (GMT)

1

0.0001

30,000,000

75000 GMT

Class C (10x)

30-May-2022

PF_GRTUSD

The Graph (GRT)

1

0.00001

30,000,000

41250 GRT

Class C (10x)

17-Aug-2022

PF_HBARUSD

Hedera (HBAR)

1

0.00001

50,000,000

27000 HBAR

Class B (10x)

25-Jun-2024

PF_IMXUSD

Immutable (IMX)

1

0.0001

4,000,000

7500 IMX

Class C (10x)

12-Oct-2022

PF_INJUSD

Injective (INJ)

0.1

0.001

1,000,000

560 INJ

Class B (10x)

05-Apr-2023

PF_IOTXUSD**

IoTeX (IOTX)

10

0.000001

75,000,000

110000 IOTX

Class D (10x)

19-Dec-2024

PF_JASMYUSD

JasmyCoin (JASMY)

1

0.000001

400,000,000

285000 JASMY

Class C (10x)

05-Apr-2023

PF_JTOUSD

Jito (JTO)

1

0.0001

1,000,000

1875 JTO

Class C (10x)

21-Dec-2023

PF_JUPUSD

Jupiter (JUP)

1

0.0001

2,500,000

9000 JUP

Class C (10x)

01-Feb-2024

PF_KNCUSD

Kyber Network Crystal (KNC)

1

0.0001

2,000,000

10500 KNC

Class C (10x)

31-Aug-2022

PF_KSMUSD

Kusama (KSM)

0.01

0.01

100,000

240 KSM

Class C (10x)

17-Aug-2022

PF_LDOUSD

Lido DAO (LDO)

1

0.0001

2,500,000

6100 LDO

Class B (10x)

08-Mar-2023

PF_LINKUSD

Chainlink (LINK)

0.1

0.001

2,000,000

350 LINK

Class B (10x)

22-Mar-2022

PF_LPTUSD

Livepeer (LPT)

0.1

0.001

500,000

825 LPT

Class C (10x)

20-Jul-2022

PF_LRCUSD

Loopring (LRC)

1

0.00001

8,000,000

36750 LRC

Class C (10x)

10-Aug-2022

PF_LTCUSD

Litecoin (LTC)

0.01

0.01

300,000

56 LTC

Class B (10x)

22-Mar-2022

PF_MASKUSD

Mask Network (MASK)

1

0.0001

1,500,000

2850 MASK

Class C (10x)

08-Mar-2023

PF_MINAUSD

Mina Protocol (MINA)

1

0.0001

3,500,000

10000 MINA

Class D (10x)

05-Oct-2022

PF_MKRUSD

Maker (MKR)

0.001

0.1

5,000

2.4 MKR

Class C (10x)

20-Jul-2022

PF_NMRUSD

Numeraire (NMR)

0.1

0.001

300,000

310 NMR

Class D (10x)

04-Jul-2024

PF_OGNUSD

Origin Token (OGN)

1

0.00001

16,000,000

40000 OGN

Class D (10x)

31-Aug-2022

PF_OPUSD

Optimism (OP)

1

0.0001

4,000,000

4950 OP

Class C (10x)

02-Jun-2022

PF_ORCAUSD

Orca (ORCA)

1

0.0001

800,000

1100 ORCA

Class D (10x)

19-Dec-2024

PF_OXTUSD

Orchid Protocol (OXT)

1

0.00001

40,000,000

17500 OXT

Class E (10x)

29-Oct-2024

PF_PAXGUSD

PAX Gold (PAXG)

0.001

0.1

1,000

0.65 PAXG

Class D (10x)

16-Aug-2023

PF_PEPEUSD**

Pepe (PEPE)

1000

0.0000000001

1,000,000,000,000

640000000 PEPE

Class B (10x)

25-May-2023

PF_PERPUSD

Perpetual Protocol (PERP)

1

0.0001

4,000,000

10000 PERP

Class D (10x)

22-May-2024

PF_POLUSD

Polygon Ecosystem Token (POL)

1

0.00001

10,000,000

23000 POL

Class B (10x)

19-Sep-2024

PF_POWRUSD

Powerledger (POWR)

1

0.00001

15,000,000

13500 POWR

Class D (10x)

15-May-2024

PF_PYTHUSD

Pyth Network (PYTH)

1

0.00001

5,000,000

25500 PYTH

Class C (10x)

29-Nov-2023

PF_QNTUSD

Quant (QNT)

0.01

0.01

12,000

32.5 QNT

Class D (10x)

12-Oct-2022

PF_RADUSD

Radworks (RAD)

1

0.0001

3,000,000

1550 RAD

Class E (10x)

27-Jun-2024

PF_RAREUSD

SuperRare (RARE)

1

0.0001

20,000,000

31000 RARE

Class D (10x)

16-Aug-2024

PF_RENDERUSD

Render (RENDER)

0.1

0.0001

600,000

1400 RENDER

Class B (10x)

30-Jul-2024

PF_RLCUSD

iExec RLC (RLC)

1

0.0001

1,000,000

975 RLC

Class E (10x)

12-Apr-2023

PF_SANDUSD

The Sandbox (SAND)

1

0.0001

15,000,000

12750 SAND

Class C (10x)

13-Jul-2022

PF_SEIUSD

Sei (SEI)

1

0.00001

5,000,000

21000 SEI

Class C (10x)

06-Sep-2023

PF_SKLUSD

Skale (SKL)

1

0.00001

60,000,000

105000 SKL

Class D (10x)

28-Jan-2025

PF_SNXUSD

Synthetix Network (SNX)

1

0.0001

2,200,000

4950 SNX

Class C (10x)

06-Jul-2022

PF_SOLUSD

Solana (SOL)

0.01

0.01

200,000

47 SOL

Class A (10x)

22-Mar-2022

PF_SPELLUSD

Spell (SPELL)

1

0.0000001

1,800,000,000

4000000 SPELL

Class D (10x)

27-Feb-2024

PF_STORJUSD

Storj (STORJ)

1

0.0001

5,000,000

8500 STORJ

Class D (10x)

07-Sep-2022

PF_STRKUSD

Starknet (STRK)

1

0.0001

4,000,000

24000 STRK

Class C (10x)

21-Feb-2024

PF_STXUSD

Stacks (STX)

1

0.0001

3,000,000

7200 STX

Class B (10x)

30-Mar-2023

PF_SUPERUSD

SuperVerse (SUPER)

1

0.0001

1,500,000

5000 SUPER

Class D (10x)

25-Apr-2024

PF_SUSHIUSD

SushiSwap (SUSHI)

1

0.0001

4,000,000

5925 SUSHI

Class C (10x)

31-Aug-2022

PF_SWELLUSD

Swell (SWELL)

1

0.000001

80,000,000

265000 SWELL

Class D (10x)

14-Nov-2024

PF_SYNUSD

Synapse (SYN)

1

0.0001

6,000,000

14500 SYN

Class D (10x)

22-Aug-2024

PF_TIAUSD

Celestia (TIA)

0.1

0.0001

700,000

1700 TIA

Class B (10x)

29-Nov-2023

PF_TRUUSD

TrueFi (TRU)

1

0.00001

15,000,000

70000 TRU

Class D (10x)

17-Apr-2024

PF_UMAUSD

UMA (UMA)

0.1

0.001

1,000,000

3075 UMA

Class C (10x)

25-Jan-2024

PF_UNIUSD

Uniswap (UNI)

0.1

0.001

3,500,000

800 UNI

Class B (10x)

22-Mar-2022

PF_USDTUSD

Tether (USDT)

1

0.0001

5,000,000

4000 USDT

Class B (10x)

11-Mar-2023

PF_WIFUSD

dogwifhat (WIF)

1

0.0001

8,000,000

12000 WIF

Class B (10x)

22-Jan-2024

PF_XBTUSD*

Bitcoin (BTC)

0.0001

1

1,200

0.065 BTC

Class A (10x)

22-Mar-2022

PF_XCNUSD**

Onyxcoin (XCN)

10

0.000001

88,200,000

235000 XCN

Class D (10x)

28-Jan-2025

PF_XLMUSD

Stellar (XLM)

1

0.00001

70,000,000

18000 XLM

Class B (10x)

06-Jul-2022

PF_XRPUSD

XRP (XRP)

1

0.00001

50,000,000

2750 XRP

Class A (10x)

22-Mar-2022

PF_XTZUSD

Tezos (XTZ)

1

0.0001

5,000,000

6800 XTZ

Class B (10x)

06-Jul-2022

PF_YFIUSD

yearn.finance (YFI)

0.0001

1

750

0.675 YFI

Class C (10x)

13-Jul-2022

PF_ZECUSD

Zcash (ZEC)

0.01

0.01

50,000

82.5 ZEC

Class C (10x)

24-Aug-2022

PF_ZETAUSD

ZetaChain (ZETA)

1

0.0001

3,000,000

10000 ZETA

Class D (10x)

15-May-2024

PF_ZROUSD

LayerZero (ZRO)

1

0.0001

1,000,000

1275 ZRO

Class C (10x)

21-Jun-2024

PF_ZRXUSD

0x Protocol (ZRX)

1

0.00001

10,000,000

9500 ZRX

Class D (10x)

12-Apr-2023

Symbol

Active Maturities

Base Currency

Min Order

Tick Size

Max Position (Base units)

Margin Class

Settlement Index

FF_ETHUSD

Weekly, Monthly, Quarterly, Semiannual

Ethereum (ETH)

0.001

0.1

8,000

Class A

ETHOPTRR

FF_SOLUSD

Monthly, Quarterly

Solana (SOL)

0.01

0.01

80,000

Class B

SOLOPTRR

FF_XBTUSD*

Weekly, Monthly, Quarterly, Semiannual

Bitcoin (BTC*)

0.0001

1

600

Class A

BTCOPTRR

*BTC is used on the platform UI. XBT is used on the API and account logs. Both refer to Bitcoin (BTC).

Additional Information:

PnL Settlement Method & Collateral Currencies: Linear Derivatives are settled in USD by default, or your chosen profit currency. See Derivatives Collateral Currencies for more information.

Trading Hours: 24 hours/day, 7 days/week, 365 days/year (excluding maintenance)

Fee Structure: Kraken Derivatives uses a maker-taker fee structure. Fees are calculated as a percentage of the notional order value for a matched trade. Holding a position until settlement will result in a taker fee.

Conversion fees and interest may be applied in some instances. See Fees & Charges for Multi-Collateral Derivatives for more information.

Settlement Index: The settlement rate is calculated using observations of the underlying Real Time Index over the period of 7:30 UTC to 8:00 UTC on Last Trading day.
The methodology is as follows:
- Take a 30 minute observation window of Real Time Index values before 8 UTC
- Split the window into 1 minute partitions
- Compute the average Real Time Index for each minute
- Compute the average of all 1 minute partitions to obtain the Settlement Rate

Settlement time: Within 15 minutes after Last Trading

Last Trading: 08:00 UTC

Week: Every Friday

Month: Last Friday of the month.

Quarter: Last Friday of a month in the March quarterly cycle (March, June, September, December).

Semiannual: Last Friday of a month in the March quarterly cycle (March, June, September, December).

First Trading: 08:00 UTC.

Week: Friday of each week where no contract exists in the following week.

Month: The last Friday of the calendar month where no contract exists in the following calendar month.

Quarter: The last Friday of the calendar month where a contract exists in the following calendar month.

Semiannual: The last Friday of the calendar month where a Month contract and Quarter contract exists.

The fixed maturity listing schedule results in there always being listed simultaneously at four contracts for BTC and ETH: a Week contract, a Month contract, a Quarter contract, and a Semiannual contract. SOL only has a month and a quarter contract. No contract can have the same remaining days to maturity as another currently-listed contract, therefore at maturity, if the days remaining to maturity on one contract correspond to the maturity of a contract with fewer days to maturity, it will roll into that maturity and the new contract with more days to maturity will be listed.

For example, if the monthly contract expires on the 31st of May, then the June quarterly contract will become the June monthly contract, the September quarterly contract will be listed.

Initial Margin: As low as 10%

Maintenance Margin: Half of Initial Margin

Maximum Initial Leverage: Up to 10x

Mark Price: Index Price plus the 30 seconds exponential moving average of the order book mid price minus the index price (future's basis).

The premium is capped at 1% for contracts with 1 day to expiry and 20% for contracts with 210 days to expiry and is linearly interpolated in between.

Calculation: Index Price + EMA_30seconds(Impact Mid Price - Index Price)

Note: in the extremely rare circumstance that the Index Price is unavailable for whatever reason, the above caps may not apply and the Mark Price will be equal to the Impact Mid Price.

**Note that if the settlement rate reported by the Index provider is, for any reason, deemed to not adequately represent the underlying market, the Market Risk Committee of Kraken Derivatives reserves the right to select its own appropriate fair value settlement rate. If the index provider restates the price, Kraken Derivatives will settle to the first value published by the index provider at or after publication time.

Additional Information

Impact Mid Size

The Impact Mid is the median of the average entry price market-selling x value of contracts and market-buying x value of contracts.

The contract values for Impact Mid are regularly updated.

For current contract-specific Impact Mid values see our API's Instruments Endpoint.

Global Platform Max Order Size

The maximum individual order size is $20,000,000 for all contracts and order types. A single order placed with a USD value higher than this amount will not execute.

Decimal & Thousands Separator Formatting

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.

Last updated: 29 May, 2025

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