Dual Investments

Last updated: 25 ก.พ. 2569

Dual Investments are a short-term yield instrument that allow you to earn a fixed yield over a set period of time. The yield rate is known in advance, but the currency used for your final payout depends on market conditions at settlement.

In every scenario, you earn yield. What changes is whether the final payout is delivered in cryptocurrency or in fiat currency, based on whether the market price is above or below a predefined target price at expiration.

This article explains what Dual Investments are, how settlement works, and exactly how to place and track them on Kraken Pro and the Kraken Pro App.

What are Dual Investments?

A Dual Investment is a structured instrument where:

  • •

    The yield rate is set when you place the investment.

  • •

    The payout currency at settlement depends on market movement relative to your trigger price.

  • •

    APR is determined by current market conditions. Once you confirm, your APR is set for the duration of the investment.

You’ll always see both potential payout outcomes on the order form before you confirm.

  • •

    Investment asset: The asset you commit when placing the Dual Investment (for example, BTC, ETH, or USD).

  • •

    Secondary asset: The alternate asset you may receive at settlement.

  • •

    Trigger price: The price level that determines which currency you receive at settlement.

  • •

    APR (annual percentage rate): An annualized rate. Dual investments are often short-duration, so your actual yield reflects the period shown on the order screen.

  • •

    Period/duration: How long funds are locked for the investment.

  • •

    Settlement: The date/time used to determine the outcome and begin payout.

  • •

    Reference rate (Ref Rate): A reference price used for settlement-related calculations and display.

At settlement, Kraken compares the relevant market’s settlement price to your trigger price. Then your principal and yield are paid out in either the investment asset or the secondary asset.

What happens at settlementผลลัพธ์
Trigger price not metYou receive your investment back plus yield in the investment asset.
Trigger price is metYou receive the proceeds plus yield in the secondary asset.

Dual investments can be set up in two directions. You either invest crypto with a potential cash payout, or invest cash with a potential crypto payout. The settlement price compared to your trigger price determines which asset you receive.

  • •

    Make sure you have enough available balance in the asset you want to invest. Dual investments use funds from your Spot balance and lock them for the duration.

  • •

    Once placed, you can’t unsubscribe or exit early before expiry/settlement.

  • •

    The APR quote can be time-limited and may change with market movement. If your quote expires, you’ll need to refresh it before confirming. The APR rate does not change after confirmation.

  • •

    Based on your jurisdiction, the first time you use Dual Investments, you may need to accept additional terms and complete any required eligibility steps.

How to use Dual Investments

  1. 1

    Sign in to Kraken Pro.

  2. 2

    Open the Dual Investments tab on the left-hand panel.

  3. 3

    You’ll then be taken to the Dual Investments page, from here you can choose an investment asset tile at the top of the page. (BTC, ETH, or USD with different secondary assets)

    If you select USD as an investment asset, you will be prompted to choose your (BTC or ETH)

  4. 4

    A list of available Dual Investment options will populate the page. In the table, click the row that matches the combination you want, using the columns such as APR, Trigger price, and Period.

  5. 5

    After selecting the Dual Investment you’d like to use, a panel will open on the right side of the page. In this panel, you enter the quantity of the investment asset you’d like to dedicate to this Dual Investment.

    This panel will contain all of the essential details pertaining to your Dual Investment. It will show you your potential payouts based on the price at settlement, as well as an approximate APR quote.

  6. 6

    Once you’ve filled in the quantity, and have reviewed the information in the order form. Click the Get APR quote button at the bottom of the form. You’ll then be shown a confirmation pop-up, displaying your APR quote, settlement date/time, and payout timing.

    Click Confirm to submit your Dual Investment.

  7. 7

    Done! Your Dual Investment is now active, and can be viewed under My Investments.

  1. 1

    Open the Kraken Pro App, and sign in if needed.

  2. 2

    Tap the More button on the bottom-right of the screen.

  3. 3

    Tap the Dual Investments option under the Earn section.

  4. 4

    You’ll then be taken to the Dual Investments page, from here you can choose an investment asset. (BTC, ETH, or USD)

    If you select USD as an investment asset, you will be prompted to choose your secondary asset. (BTC or ETH)

  5. 5

    A list of available Dual Investment options will populate the page. In the table, tap the row that matches the combination you want, using the columns such as APR, Trigger price, and Period.

  6. 6

    After selecting the Dual Investment you’d like to use, the order form will open. In this form, you enter the quantity of the investment asset you’d like to dedicate to this Dual Investment.

    You will also see essential details pertaining to your Dual Investment.Including your potential payouts based on the price at settlement, the APR quote, settlement date, and more.

  7. 7

    Once you’ve filled in the quantity, and have reviewed the information in the order form. Tap the purple Get APR Quote button at the bottom of the form. You’ll then be shown a confirmation pop-up, displaying your APR quote, settlement date/time, and payout timing.

    Swipe to confirm to submit your Dual Investment.

  8. 8

    Done! Your Dual Investment is now active, and can be viewed under My Investments.

How to view your active and settled Dual Investments

  1. 1

    Sign in to Kraken Pro.

  2. 2

    Open the Dual Investments tab on the left-hand panel.

  3. 3

    You’ll then be taken to the Dual Investments page. From here, click on the My investments tab in the top-left corner of the page.

  4. 4

    You’ll now be taken to the page where you can see all of your current Dual Investment information. There are three tabs, Active, Pending payouts, and Settled. Use these tabs to hone in on the information you’d like to see.

  5. 5

    You can click any Dual Investment or pending payout to see more information regarding that entry. After clicking, a popup containing all of the information will appear.

  1. 1

    Open the Kraken Pro App, and sign in if needed.

  2. 2

    Tap the More button on the bottom-right of the screen.

  3. 3

    Tap the Dual Investments option under the Earn section.

  4. 4

    You’ll then be taken to the Dual Investments page, from here tap My investments.

  5. 5

    On the My investments page, you will see your current investment statistics, your active investments, and any pending payouts.

    To see any settled investments, tap on the Settled button circled in red below.

  6. 6

    You can tap any Dual Investment or pending payout to see more information regarding that entry. After clicking, a popup containing all of the information will appear.

Frequently Asked Questions (FAQ)

No. Dual Investments, once they are confirmed, cannot be cancelled or unlocked early. You must wait until the payout is processed after the settlement date/time to receive your funds. To view the settlement date/time of an active investment, follow the steps above.

If the trigger price is met at settlement, your invested amount is converted into the secondary asset and paid out alongside any yield generated for the term.

Kraken uses the reference rate shown in the order form to determine the settlement conversion used for the payout calculation. The order form and the investment details at the time of confirmation show the key numbers, including the trigger price and reference rate used at settlement.

The payout asset depends on the settlement price relative to your trigger price. The order form shows both outcomes so you can confirm what you’ll receive in either case.

It usually means the investment has reached settlement, and the payout is in progress. The app/website often shows an estimated window such as “< Xh from settlement.”

Dual investment pricing can be time-sensitive. “Valid for” indicates how long you have to confirm the investment details before it needs to refresh.

For some regions or account types, Dual Investments may require additional verification for eligibility. Follow the on-screen steps and return to Dual investments afterwards.

Your funds are automatically paid into your Spot balance.

See our Risk Disclosures page for more information about the risks of Dual Investments.

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