Linear Multi-Collateral Derivatives Contract Specifications

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

Click to expand each section:

Perpetual Derivatives are a type of Derivatives contract that have no expiration date and an auto-rolling feature every hour.

Perpetual contracts feature a funding rate, a payment between traders designed to keep the contract's price aligned with the underlying asset's spot price. More information on this mechanism can be found under "Perpetual Contract Funding Rate Information" in the next drop-down menu.

Margin Class and maximum leverage by position size are detailed in Derivatives Margin Schedule & Maximum Leverage.


Forex Perpetual (FX perps) information is detailed in Forex Perpetual Futures

Please note:

Symbol

Base Currency

Min Lot

Tick Size

Max Position (Base)

Margin Class & Max Leverage

First Trading

PF_1INCHUSD

1inch (1INCH)

1

0.00001

6,000,000

Class C (25x)

24-Aug-2022

PF_AAVEUSD

Aave (AAVE)

0.01

0.01

60,000

Class B (50x)

27-Jun-2022

PF_ACEUSD

Fusionist (ACE)

1

0.0001

1,000,000

Class E (10x)

09-Oct-2024

PF_ACHUSD

Alchemy Pay (ACH)

1

0.000001

100,000,000

Class D (20x)

26-Jul-2023

PF_ACTUSD

Act I The AI Prophecy (ACT)

1

0.00001

6,000,000

Class D (20x)

26-Nov-2024

PF_ADAUSD

Cardano (ADA)

1

0.00001

60,000,000

Class B (50x)

22-Mar-2022

PF_AEVOUSD

Aevo (AEVO)

1

0.00001

5,000,000

Class C (25x)

22-May-2024

PF_AGLDUSD

Adventure Gold (AGLD)

1

0.0001

3,000,000

Class C (25x)

23-Aug-2023

PF_AI16ZUSD

ai16z (AI16Z)

1

0.0001

2,000,000

Class D (20x)

20-Jan-2025

PF_AIUSD

Sleepless AI (AI)

1

0.00001

9,000,000

Class D (20x)

14-Nov-2024

PF_AIXBTUSD

aixbt by Virtuals (AIXBT)

1

0.00001

3,400,000

Class D (20x)

21-Jan-2025

PF_AKTUSD

Akash (AKT)

1

0.0001

900,000

Class D (20x)

19-Nov-2024

PF_ALCHUSD

Alchemist AI (ALCH)

1

0.00001

18,500,000

Class D (20x)

28-Jan-2025

PF_ALGOUSD

Algorand (ALGO)

1

0.00001

17,500,000

Class B (50x)

06-Jul-2022

PF_ALICEUSD

My Neighbor Alice (ALICE)

1

0.0001

1,600,000

Class D (20x)

21-Sep-2022

PF_ALPHAUSD

Stella (ALPHA)

1

0.00001

20,000,000

Class C (25x)

19-Jul-2023

PF_ALTUSD

AltLayer (ALT)

1

0.00001

12,000,000

Class C (25x)

29-May-2024

PF_ANIMEUSD

Animecoin (ANIME)

1

0.00001

30,000,000

Class D (20x)

24-Jan-2025

PF_ANKRUSD

Ankr Network (ANKR)

1

0.000001

50,000,000

Class D (20x)

14-Sep-2022

PF_APEUSD

ApeCoin (APE)

1

0.0001

4,000,000

Class B (50x)

13-Jun-2022

PF_API3USD

API3 (API3)

1

0.0001

2,000,000

Class C (25x)

31-Jan-2024

PF_APTUSD

Aptos (APT)

0.1

0.0001

750,000

Class B (50x)

19-Oct-2022

PF_APUUSD

Apu Apustaja (APU)

1

0.0000001

3,000,000,000

Class E (10x)

14-Nov-2024

PF_ARBUSD

Arbitrum (ARB)

1

0.0001

20,000,000

Class B (50x)

23-Mar-2023

PF_ARCUSD

AI Rig Complex (ARC)

1

0.000

6,500,000

Class D (20x)

28-Jan-2025

PF_ARKMUSD

Arkham (ARKM)

1

0.000

1,500,000

Class D (20x)

15-May-2024

PF_ARKUSD

Ark (ARK)

1

0.00001

5,000,000

Class D (20x)

24-Oct-2024

PF_ARPAUSD

ARPA (ARPA)

1

0.00001

40,000,000

Class D (20x)

19-Jul-2023

PF_ARUSD

Arweave (AR)

0.01

0.001

100,000

Class C (25x)

09-May-2024

PF_ASTRUSD

Astar (ASTR)

1

0.00001

20,000,000

Class D (20x)

01-May-2024

PF_ATHUSD

Aethir (ATH)

1

0.00001

50,000,000

Class D (20x)

14-Nov-2024

PF_ATOMUSD

Cosmos (ATOM)

0.1

0.001

3,000,000

Class B (50x)

22-Mar-2022

PF_AUCTIONUSD

Bounce Token (AUCTION)

0.1

0.0001

200,000

Class D (20x)

15-Aug-2024

PF_AUDIOUSD

Audius (AUDIO)

1

0.00001

12,000,000

Class D (20x)

28-Sep-2022

PF_AUDUSD

Australian Dollar (AUD)

1

0.00001

7,500,000

Class D (20x)

24-Apr-2025

PF_AVAXUSD

Avalanche (AVAX)

0.01

0.001

700,000

Class B (50x)

22-Mar-2022

PF_AXSUSD

Axie Infinity (AXS)

0.1

0.0001

700,000

Class C (25x)

03-Aug-2022

PF_B3USD

B3 Base (B3)

1

0.000001

400,000,000

Class E (10x)

14-Mar-2025

PF_BADGERUSD

Badger (BADGER)

0.1

0.0001

700,000

Class E (10x)

27-Mar-2024

PF_BAKEUSD

BakerySwap (BAKE)

1

0.00001

10,000,000

Class D (20x)

11-Jul-2024

PF_BALUSD

Balancer (BAL)

0.1

0.0001

500,000

Class C (25x)

21-Sep-2022

PF_BANANAUSD

Banana Gun (BANANA)

0.1

0.001

100,000

Class D (20x)

25-Sep-2024

PF_BANDUSD

Band Protocol (BAND)

0.1

0.0001

2,400,000

Class C (25x)

21-Sep-2022

PF_BANUSD

Comedian (BAN)

1

0.00001

21,420,069

Class E (10x)

26-Nov-2024

PF_BATUSD

Basic Attention (BAT)

1

0.00001

10,000,000

Class C (25x)

20-Jul-2022

PF_BBUSD

BounceBit (BB)

1

0.00001

10,000,000

Class D (20x)

20-Jun-2024

PF_BCHUSD

Bitcoin Cash (BCH)

0.01

0.01

30,000

Class B (50x)

22-Mar-2022

PF_BEAMUSD

Beam (BEAM)

1

0.000001

60,000,000

Class D (20x)

17-Apr-2024

PF_BELUSD

Bella Protocol (BEL)

1

0.00001

6,400,000

Class E (10x)

07-Nov-2024

PF_BERAUSD

Berachain (BERA)

0.1

0.001

600,000

Class D (20x)

12-Feb-2025

PF_BICOUSD

Biconomy (BICO)

1

0.00001

5,000,000

Class D (20x)

01-May-2024

PF_BIGTIMEUSD

Big Time (BIGTIME)

1

0.00001

40,000,000

Class C (25x)

25-Jun-2024

PF_BIOUSD

Bio Protocol (BIO)

1

0.00001

7,000,000

Class D (20x)

28-Jan-2025

PF_BLASTUSD**

Blast (BLAST)

10

0.000001

400,000,000

Class D (20x)

28-Nov-2024

PF_BLURUSD

Blur (BLUR)

1

0.00001

7,000,000

Class D (20x)

15-Feb-2023

PF_BNBUSD

BNB (BNB)

0.01

0.01

50,000

Class A (50x)

22-Nov-2023

PF_BNTUSD

Bancor Network (BNT)

1

0.0001

7,000,000

Class D (20x)

18-Jun-2024

PF_BOMEUSD

BOOK OF MEME (BOME)

1

0.0000001

200,000,000

Class C (25x)

24-Apr-2024

PF_BONKUSD**

Bonk (BONK)

1000

0.000000001

100,000,000,000

Class B (50x)

21-Dec-2023

PF_BRETTUSD

Brett (BRETT)

1

0.00001

30,000,000

Class D (20x)

18-Jun-2024

PF_C98USD

Coin98 (C98)

1

0.00001

15,000,000

Class D (20x)

22-May-2024

PF_CAKEUSD

PancakeSwap (CAKE)

1

0.0001

1,900,000

Class D (20x)

19-Nov-2024

PF_CATIUSD

Catizen (CATI)

1

0.00001

5,000,000

Class D (20x)

15-Oct-2024

PF_CATUSD**

Simon's Cat (CAT)

1000

0.000000001

100,000,000,000

Class D (20x)

31-Oct-2024

PF_CELOUSD

Celo (CELO)

1

0.0001

5,000,000

Class E (10x)

15-Oct-2024

PF_CELRUSD

Celer Network (CELR)

1

0.000001

250,000,000

Class D (20x)

22-Aug-2024

PF_CETUSUSD

Cetus Protocol (CETUS)

1

0.00001

20,000,000

Class D (20x)

29-Oct-2024

PF_CFXUSD

Conflux (CFX)

1

0.00001

10,000,000

Class C (25x)

09-Aug-2023

PF_CGPTUSD

ChainGPT (CGPT)

1

0.00001

7,000,000

Class D (20x)

28-Jan-2025

PF_CHEEMSUSD**

Cheems Token (CHEEMS)

1000000

0.0000000001

3,000,000,000,000

Class D (20x)

27-Dec-2024

PF_CHFUSD

Swiss Frank (CHF)

1

0.00001

4,500,000

Class D (20x)

24-Apr-2025

PF_CHILLGUYUSD

Just a chill guy (CHILLGUY)

1

0.00001

25,500,000

Class D (20x)

15-Jan-2025

PF_CHRUSD

Chromia (CHR)

1

0.00001

10,000,000

Class E (10x)

08-May-2024

PF_CHZUSD

Chiliz (CHZ)

1

0.00001

45,000,000

Class C (25x)

20-Jul-2022

PF_CKBUSD

Nervos Network (CKB)

1

0.000001

200,000,000

Class C (25x)

29-Oct-2024

PF_COMPUSD

Compound (COMP)

0.1

0.001

100,000

Class C (25x)

13-Jul-2022

PF_COOKIEUSD

Cookie DAO (COOKIE)

1

0.00001

10,000,000

Class D (20x)

04-Feb-2025

PF_COSUSD**

Contentos (COS)

10

0.000001

250,000,000

Class D (20x)

26-Nov-2024

PF_COTIUSD

COTI (COTI)

1

0.00001

15,000,000

Class D (20x)

30-Apr-2024

PF_COWUSD

CoW Protocol (COW)

1

0.0001

5,600,000

Class D (20x)

26-Nov-2024

PF_CROUSD**

Cronos (CRO)

10

0.00001

15,000,000

Class D (20x)

20-Dec-2024

PF_CRVUSD

Curve DAO (CRV)

1

0.0001

12,000,000

Class B (50x)

27-Jun-2022

PF_CSPRUSD

Casper Network (CSPR)

1

0.000001

142,500,000

Class D (20x)

05-Dec-2024

PF_CTSIUSD

Cartesi (CTSI)

1

0.00001

15,000,000

Class D (20x)

29-May-2024

PF_CVXUSD

Convex Finance (CVX)

1

0.0001

500,000

Class D (20x)

30-Mar-2023

PF_CYBERUSD

Cyber (CYBER)

1

0.0001

1,000,000

Class E (10x)

24-Oct-2024

PF_DASHUSD

Dash (DASH)

0.1

0.001

70,000

Class C (25x)

24-Aug-2022

PF_DEEPUSD

DeepBook (DEEP)

1

0.000001

65,100,000

Class D (20x)

14-Nov-2024

PF_DEGENUSD

Degen (DEGEN)

1

0.000001

150,000,000

Class D (20x)

14-Nov-2024

PF_DENTUSD**

Dent (DENT)

100

0.0000001

2,000,000,000

Class D (20x)

28-Nov-2024

PF_DEXEUSD

DeXe (DEXE)

0.1

0.001

100,000

Class D (20x)

04-Feb-2025

PF_DFUSD

dForce (DF)

1

0.00001

40,000,000

Class D (20x)

12-Feb-2025

PF_DOGEUSD

Dogecoin (DOGE)

1

0.000001

200,000,000

Class A (50x)

20-Jun-2022

PF_DOGSUSD

Dogs (DOGS)

1

0.00000001

3,000,000,000

Class C (25x)

09-Oct-2024

PF_DOGUSD

Dog (Runes) (DOG)

1

0.0000001

800,000,000

Class D (20x)

14-Nov-2024

PF_DOTUSD

Polkadot (DOT)

0.1

0.001

3,500,000

Class B (50x)

22-Mar-2022

PF_DRIFTUSD

Drift Protocol (DRIFT)

1

0.00001

5,000,000

Class E (10x)

11-Jul-2024

PF_DUCKUSD

DuckChain (DUCK)

1

0.0000001

1,000,000,000

Class E (10x)

12-Feb-2025

PF_DUSKUSD

Dusk (DUSK)

1

0.00001

12,000,000

Class D (20x)

28-Nov-2024

PF_DYDXUSD

dYdX (DYDX)

1

0.0001

2,500,000

Class C (25x)

07-Sep-2022

PF_DYMUSD

Dymension (DYM)

0.1

0.0001

1,000,000

Class D (20x)

08-Feb-2024

PF_EGLDUSD

MultiversX (EGLD)

0.01

0.01

60,000

Class C (25x)

07-Sep-2022

PF_EIGENUSD

EigenLayer (EIGEN)

1

0.0001

1,000,000

Class C (25x)

09-Oct-2024

PF_ENAUSD

Ethena (ENA)

1

0.00001

5,000,000

Class C (25x)

24-Apr-2024

PF_ENJUSD

Enjin Coin (ENJ)

1

0.00001

8,500,000

Class D (20x)

13-Jul-2022

PF_ENSUSD

Ethereum Name Service (ENS)

0.1

0.001

400,000

Class B (50x)

28-Sep-2022

PF_EOSUSD

EOS (EOS)

1

0.0001

25,000,000

Class B (50x)

22-Mar-2022

PF_ETCUSD

Ethereum Classic (ETC)

0.1

0.001

200,000

Class B (50x)

03-Aug-2022

PF_ETHFIUSD

Ether.fi (ETHFI)

0.1

0.0001

1,000,000

Class C (25x)

09-May-2024

PF_ETHUSD

Ethereum (ETH)

0.001

0.1

16,000

Class A (50x)

22-Mar-2022

PF_ETHWUSD

EthereumPoW (ETHW)

0.1

0.001

600,000

Class E (10x)

15-Sep-2022

PF_EURUSD

Euro (EUR)

1

0.00001

5,000,000

Class B (50x)

17-Apr-2025

PF_FARTCOINUSD

Fartcoin (FARTCOIN)

1

0.0001

2,400,000

Class C (25x)

20-Jan-2025

PF_FETUSD

Artificial Superintelligence Alliance (FET)

1

0.00001

5,000,000

Class C (25x)

23-Mar-2023

PF_FIDAUSD

Bonfida (FIDA)

1

0.00001

10,000,000

Class D (20x)

25-Sep-2024

PF_FILUSD

Filecoin (FIL)

0.1

0.0001

4,000,000

Class B (50x)

22-Mar-2022

PF_FIOUSD**

FIO Protocol (FIO)

10

0.000001

80,000,000

Class D (20x)

28-Nov-2024

PF_FLMUSD**

Flamingo Finance (FLM)

10

0.00001

30,000,000

Class D (20x)

05-Dec-2024

PF_FLOKIUSD**

FLOKI (FLOKI)

1000

0.00000001

20,000,000,000

Class C (25x)

15-May-2024

PF_FLOWUSD

Flow (FLOW)

1

0.0001

1,800,000

Class C (25x)

17-Aug-2022

PF_FLRUSD

Flare (FLR)

1

0.000001

70,000,000

Class E (10x)

10-Jan-2023

PF_FLUXUSD

Flux (FLUX)

1

0.0001

4,200,000

Class D (20x)

28-Nov-2024

PF_FXSUSD

Frax Share (FXS)

0.1

0.001

500,000

Class D (20x)

30-Aug-2023

PF_GALAUSD

GALA (GALA)

1

0.000001

120,000,000

Class C (25x)

03-Aug-2022

PF_GASUSD

Gas (GAS)

1

0.0001

600,000

Class D (20x)

22-Oct-2024

PF_GBPUSD

British Pound (GBP)

1

0.00001

5,000,000

Class B (50x)

17-Apr-2025

PF_GIGAUSD

Gigachad (GIGA)

1

0.00001

40,700,000

Class E (10x)

13-Dec-2024

PF_GLMRUSD

Moonbeam (GLMR)

1

0.00001

6,000,000

Class E (10x)

05-Oct-2022

PF_GLMUSD

Golem (GLM)

1

0.00001

8,500,000

Class D (20x)

22-Oct-2024

PF_GMTUSD

GMT (GMT)

1

0.00001

30,000,000

Class C (25x)

30-May-2022

PF_GMXUSD

GMX (GMX)

0.01

0.001

45,000

Class D (20x)

08-Mar-2023

PF_GOATUSD

Goatseus Maximus (GOAT)

1

0.00001

5,000,000

Class B (50x)

24-Oct-2024

PF_GPSUSD

GoPlus Security (GPS)

1

0.000001

85,000,000

Class D (20x)

14-Mar-2025

PF_GRASSUSD

Grass (GRASS)

1

0.0001

2,000,000

Class C (25x)

14-Nov-2024

PF_GRIFFAINUSD

GRIFFAIN (GRIFFAIN)

1

0.00001

5,400,000

Class D (20x)

22-Jan-2025

PF_GRTUSD

The Graph (GRT)

1

0.00001

30,000,000

Class C (25x)

17-Aug-2022

PF_GTCUSD

Gitcoin (GTC)

1

0.0001

5,000,000

Class D (20x)

18-Jun-2024

PF_GUSD

Gravity (G)

1

0.000001

100,000,000

Class D (20x)

19-Nov-2024

PF_HAEDALUSD

Haedal Protocol (HAEDAL)

1

0.00001

15,000,000

Class D (20x)

22-May-2025

PF_HBARUSD

Hedera (HBAR)

1

0.00001

50,000,000

Class B (50x)

25-Jun-2024

PF_HFTUSD

Hashflow (HFT)

1

0.00001

7,000,000

Class D (20x)

26-Jul-2023

PF_HIGHUSD

Highstreet (HIGH)

1

0.0001

2,500,000

Class E (10x)

09-Jul-2024

PF_HIPPOUSD**

sudeng (HIPPO)

10

0.000001

150,000,000

Class D (20x)

05-Dec-2024

PF_HIVEUSD

Hive (HIVE)

1

0.00001

7,500,000

Class D (20x)

28-Jan-2025

PF_HMSTRUSD

Hamster Kombat (HMSTR)

1

0.000001

1,000,000,000

Class D (20x)

24-Oct-2024

PF_HONEYUSD

Hivemapper (HONEY)

1

0.00001

90,000,000

Class D (20x)

19-May-2025

PF_HOOKUSD

Hooked Protocol (HOOK)

1

0.00001

6,700,000

Class D (20x)

19-Dec-2024

PF_HOTUSD

Holo (HOT)

1

0.0000001

2,000,000,000

Class E (10x)

19-Nov-2024

PF_HYPEUSD

Hyperliquid (HYPE)

0.1

0.001

130,000

Class D (20x)

24-Jan-2025

PF_ICPUSD

Internet Computer (ICP)

0.1

0.001

500,000

Class B (50x)

14-Sep-2022

PF_ICXUSD

ICON (ICX)

1

0.00001

10,000,000

Class D (20x)

28-Sep-2022

PF_IDUSD

SPACE ID (ID)

1

0.00001

12,000,000

Class E (10x)

12-Feb-2025

PF_IMXUSD

Immutable (IMX)

1

0.0001

4,000,000

Class C (25x)

12-Oct-2022

PF_INITUSD

Initia (INIT)

1

0.0001

3,500,000

Class D (20x)

19-May-2025

PF_INJUSD

Injective (INJ)

0.1

0.001

1,000,000

Class B (50x)

05-Apr-2023

PF_IOSTUSD**

IOST (IOST)

100

0.000001

420,000,000

Class D (20x)

19-Dec-2024

PF_IOTAUSD

IOTA (IOTA)

1

0.00001

6,200,000

Class D (20x)

05-Dec-2024

PF_IOTXUSD**

IoTeX (IOTX)

10

0.000001

75,000,000

Class D (20x)

19-Dec-2024

PF_IOUSD

io.net (IO)

1

0.0001

1,100,000

Class D (20x)

28-Jan-2025

PF_IPUSD

Story (IP)

0.1

0.001

600,000

Class D (20x)

07-Mar-2025

PF_JASMYUSD

JasmyCoin (JASMY)

1

0.000001

400,000,000

Class C (25x)

05-Apr-2023

PF_JPYUSD**

Japanese Yen (JPY)

100

0.000001

750,000,000

Class D (20x)

24-Apr-2025

PF_JTOUSD

Jito (JTO)

1

0.0001

1,000,000

Class C (25x)

21-Dec-2023

PF_JUPUSD

Jupiter (JUP)

1

0.0001

2,500,000

Class C (25x)

01-Feb-2024

PF_KAIAUSD

Kaia (KAIA)

1

0.00001

24,400,000

Class D (20x)

14-Nov-2024

PF_KAITOUSD

Kaito (KAITO)

1

0.0001

2,200,000

Class D (20x)

11-Mar-2025

PF_KASUSD

Kaspa (KAS)

1

0.00001

60,000,000

Class C (25x)

09-Jan-2024

PF_KAVAUSD

Kava (KAVA)

1

0.0001

10,000,000

Class C (25x)

10-Aug-2022

PF_KNCUSD

Kyber Network Crystal (KNC)

1

0.0001

2,000,000

Class C (25x)

31-Aug-2022

PF_KOMAUSD

Koma Inu (KOMA)

1

0.00001

37,800,000

Class E (10x)

15-Jan-2025

PF_KSMUSD

Kusama (KSM)

0.01

0.001

100,000

Class C (25x)

17-Aug-2022

PF_LAYERUSD

Solayer (LAYER)

1

0.0001

3,500,000

Class E (10x)

14-Feb-2025

PF_LDOUSD

Lido DAO (LDO)

1

0.0001

2,500,000

Class B (50x)

08-Mar-2023

PF_LEVERUSD

LeverFi (LEVER)

1

0.0000001

1,500,000,000

Class E (10x)

22-Oct-2024

PF_LINKUSD

Chainlink (LINK)

0.1

0.001

2,000,000

Class B (50x)

22-Mar-2022

PF_LOOKSUSD**

LooksRare (LOOKS)

10

0.00001

52,600,000

Class D (20x)

05-Dec-2024

PF_LPTUSD

Livepeer (LPT)

0.1

0.001

500,000

Class C (25x)

20-Jul-2022

PF_LQTYUSD

Liquity (LQTY)

1

0.0001

4,000,000

Class E (10x)

22-Oct-2024

PF_LRCUSD

Loopring (LRC)

1

0.00001

8,000,000

Class C (25x)

10-Aug-2022

PF_LSKUSD

Lisk (LSK)

1

0.0001

1,200,000

Class C (25x)

31-Jan-2024

PF_LTCUSD

Litecoin (LTC)

0.01

0.01

300,000

Class B (50x)

22-Mar-2022

PF_LUMIAUSD

Lumia (LUMIA)

1

0.0001

2,600,000

Class E (10x)

21-Jan-2025

PF_LUNA2USD

Luna2.0 (LUNA2)

0.1

0.0001

2,500,000

Class E (10x)

01-Jun-2022

PF_MAGICUSD

Treasure (MAGIC)

1

0.00001

8,500,000

Class D (20x)

07-Nov-2024

PF_MAJORUSD

Major (MAJOR)

1

0.00001

7,000,000

Class E (10x)

21-Jan-2025

PF_MANAUSD

Decentraland (MANA)

1

0.0001

12,000,000

Class B (50x)

27-Jun-2022

PF_MASKUSD

Mask Network (MASK)

1

0.0001

1,500,000

Class C (25x)

08-Mar-2023

PF_MELANIAUSD

Melania Meme (MELANIA)

0.1

0.0001

350,000

Class D (20x)

20-Jan-2025

PF_MEMEUSD

Memecoin (MEME)

1

0.000001

300,000,000

Class C (25x)

15-Aug-2024

PF_METISUSD

Metis (METIS)

0.1

0.001

100,000

Class E (10x)

14-Nov-2024

PF_MEUSD

Magic Eden (ME)

1

0.0001

1,200,000

Class D (20x)

15-Jan-2025

PF_MEWUSD

cat in a dogs world (MEW)

1

0.0000001

1,000,000,000

Class B (50x)

18-Jun-2024

PF_MINAUSD

Mina Protocol (MINA)

1

0.0001

3,500,000

Class D (20x)

05-Oct-2022

PF_MKRUSD

Maker (MKR)

0.001

0.1

5,000

Class C (25x)

20-Jul-2022

PF_MOCAUSD

Moca Network (MOCA)

1

0.00001

14,500,000

Class D (20x)

15-Jan-2025

PF_MOGUSD**

Mog Coin (MOG)

1000

0.0000000001

2,000,000,000,000

Class D (20x)

15-Aug-2024

PF_MOODENGUSD

Moo Deng (MOODENG)

1

0.00001

15,000,000

Class B (50x)

31-Oct-2024

PF_MORPHOUSD

Morpho (MORPHO)

1

0.0001

3,500,000

Class D (20x)

26-Nov-2024

PF_MOVEUSD

Movement (MOVE)

1

0.0001

4,000,000

Class D (20x)

20-Dec-2024

PF_MOVRUSD

Moonriver (MOVR)

0.1

0.001

300,000

Class D (20x)

15-May-2024

PF_MTLUSD

Metal DAO (MTL)

1

0.0001

3,000,000

Class D (20x)

25-Jul-2024

PF_MUBARAKUSD

Mubarak (MUBARAK)

1

0.00001

49,800,000

Class D (20x)

22-May-2025

PF_MYROUSD

Myro (MYRO)

1

0.00001

30,000,000

Class E (10x)

25-Jun-2024

PF_NCUSD

Nodecoin (NC)

1

0.000001

70,000,000

Class E (10x)

12-Feb-2025

PF_NEARUSD

NEAR Protocol (NEAR)

1

0.0001

1,250,000

Class B (50x)

13-Jun-2022

PF_NEIROETHUSD**

Neiro on ETH (NEIROETH)

10

0.00001

37,000,000

Class D (20x)

26-Nov-2024

PF_NEIROUSD

Neiro (NEIRO)

1

0.00000001

2,000,000,000

Class C (25x)

09-Oct-2024

PF_NEOUSD

NEO (NEO)

0.1

0.001

100,000

Class C (25x)

24-Apr-2024

PF_NMRUSD

Numeraire (NMR)

0.1

0.001

300,000

Class D (20x)

04-Jul-2024

PF_NOTUSD

Notcoin (NOT)

1

0.0000001

250,000,000

Class C (25x)

09-Jul-2024

PF_OGNUSD

Origin Token (OGN)

1

0.00001

16,000,000

Class D (20x)

31-Aug-2022

PF_OLUSD

Open Loot (OL)

1

0.00001

12,000,000

Class E (10x)

19-Dec-2024

PF_OMNIUSD

Omni Network (OMNI)

0.1

0.001

300,000

Class D (20x)

19-Nov-2024

PF_OMUSD

MANTRA (OM)

1

0.0001

3,000,000

Class D (20x)

01-Aug-2024

PF_ONDOUSD

Ondo (ONDO)

1

0.0001

2,000,000

Class B (50x)

11-Apr-2024

PF_ONEUSD**

Harmony (ONE)

10

0.000001

150,000,000

Class D (20x)

04-Feb-2025

PF_ONGUSD

Ontology Gas (ONG)

1

0.00001

11,500,000

Class D (20x)

14-Nov-2024

PF_ONTUSD

Ontology (ONT)

1

0.00001

18,700,000

Class D (20x)

14-Nov-2024

PF_OPUSD

Optimism (OP)

1

0.0001

4,000,000

Class C (25x)

02-Jun-2022

PF_ORCAUSD

Orca (ORCA)

1

0.0001

800,000

Class D (20x)

19-Dec-2024

PF_ORDIUSD

ORDI (ORDI)

0.01

0.001

50,000

Class C (25x)

24-Jan-2024

PF_OXTUSD

Orchid Protocol (OXT)

1

0.00001

40,000,000

Class E (10x)

29-Oct-2024

PF_PAXGUSD

PAX Gold (PAXG)

0.001

0.1

1,000

Class D (20x)

16-Aug-2023

PF_PENDLEUSD

Pendle (PENDLE)

0.1

0.001

800,000

Class C (25x)

29-May-2024

PF_PENGUUSD**

Pudgy Penguins (PENGU)

10

0.000001

100,000,000

Class C (25x)

20-Dec-2024

PF_PEOPLEUSD

ConstitutionDAO (PEOPLE)

1

0.000001

40,000,000

Class B (50x)

11-Jun-2024

PF_PEPEUSD**

Pepe (PEPE)

1000

0.0000000001

1,000,000,000,000

Class B (50x)

25-May-2023

PF_PERPUSD

Perpetual Protocol (PERP)

1

0.0001

4,000,000

Class D (20x)

22-May-2024

PF_PIPPINUSD

pippin (PIPPIN)

1

0.00001

100,000,000

Class E (10x)

12-Feb-2025

PF_PIUSD

Pi (PI)

1

0.0001

3,700,000

Class D (20x)

22-May-2025

PF_PIXELUSD

Pixels (PIXEL)

1

0.00001

7,500,000

Class D (20x)

10-Jun-2024

PF_PNUTUSD

Peanut the Squirrel (PNUT)

1

0.00001

2,300,000

Class C (25x)

26-Nov-2024

PF_POLUSD

Polygon Ecosystem Token (POL)

1

0.00001

10,000,000

Class B (50x)

19-Sep-2024

PF_POLYXUSD

Polymesh (POLYX)

1

0.00001

14,000,000

Class D (20x)

14-Nov-2024

PF_PONKEUSD

Ponke (PONKE)

1

0.00001

5,000,000

Class E (10x)

15-Oct-2024

PF_POPCATUSD

Popcat (POPCAT)

1

0.00001

20,000,000

Class B (50x)

18-Jun-2024

PF_PORTALUSD

Portal (PORTAL)

1

0.00001

8,000,000

Class E (10x)

25-Jun-2024

PF_POWRUSD

Powerledger (POWR)

1

0.00001

15,000,000

Class D (20x)

15-May-2024

PF_PRCLUSD

Parcl (PRCL)

1

0.00001

15,000,000

Class E (10x)

25-Sep-2024

PF_PYTHUSD

Pyth Network (PYTH)

1

0.00001

5,000,000

Class C (25x)

29-Nov-2023

PF_QNTUSD

Quant (QNT)

0.01

0.01

12,000

Class D (20x)

12-Oct-2022

PF_QTUMUSD

Qtum (QTUM)

1

0.0001

700,000

Class C (25x)

24-Aug-2022

PF_QUICKUSD

Quickswap (QUICK)

1

0.000001

70,000,000

Class E (10x)

19-Nov-2024

PF_RADUSD

Radworks (RAD)

1

0.0001

3,000,000

Class E (10x)

27-Jun-2024

PF_RAREUSD

SuperRare (RARE)

1

0.00001

20,000,000

Class D (20x)

16-Aug-2024

PF_RATSUSD**

Rats (RATS)

1000

0.00000001

40,000,000,000

Class D (20x)

09-Jul-2024

PF_RAYUSD

Raydium (RAY)

1

0.0001

1,000,000

Class D (20x)

24-Oct-2024

PF_RENDERUSD

Render (RENDER)

0.1

0.0001

600,000

Class B (50x)

30-Jul-2024

PF_RENUSD

REN (REN)

1

0.000001

30,000,000

Class E (10x)

14-Sep-2022

PF_REZUSD

Renzo (REZ)

1

0.000001

40,000,000

Class D (20x)

18-Jul-2024

PF_RLCUSD

iExec RLC (RLC)

1

0.0001

1,000,000

Class E (10x)

12-Apr-2023

PF_ROSEUSD

Oasis (ROSE)

1

0.00001

40,000,000

Class D (20x)

24-Oct-2024

PF_RSRUSD

Reserve Rights (RSR)

1

0.000001

500,000,000

Class D (20x)

25-Sep-2024

PF_RUNEUSD

THORChain (RUNE)

1

0.0001

1,500,000

Class B (50x)

07-Sep-2022

PF_SAGAUSD

Saga (SAGA)

0.1

0.0001

800,000

Class C (25x)

12-Apr-2024

PF_SANDUSD

The Sandbox (SAND)

1

0.0001

15,000,000

Class C (25x)

13-Jul-2022

PF_SATSUSD

SATS (Ordinals) (SATS)

1

0

15,000,000,000,000

Class B (50x)

09-May-2024

PF_SCRUSD

Scroll (SCR)

1

0.0001

4,700,000

Class D (20x)

14-Nov-2024

PF_SCUSD

Siacoin (SC)

1

0.0000001

600,000,000

Class E (10x)

05-Oct-2022

PF_SEIUSD

Sei (SEI)

1

0.00001

5,000,000

Class C (25x)

06-Sep-2023

PF_SHELLUSD

MyShell (SHELL)

1

0.00001

11,000,000

Class D (20x)

14-Mar-2025

PF_SHIBUSD**

Shiba Inu (SHIB)

1000

0.000000001

1,000,000,000,000

Class B (50x)

30-May-2023

PF_SKLUSD

Skale (SKL)

1

0.00001

60,000,000

Class D (20x)

28-Jan-2025

PF_SLERFUSD

Slerf (SLERF)

1

0.00001

9,000,000

Class E (10x)

26-Nov-2024

PF_SLPUSD**

Smooth Love Potion (SLP)

100

0.000001

554,100,000

Class D (20x)

05-Dec-2024

PF_SNXUSD

Synthetix Network (SNX)

1

0.0001

2,200,000

Class C (25x)

06-Jul-2022

PF_SOLUSD

Solana (SOL)

0.01

0.01

200,000

Class A (50x)

22-Mar-2022

PF_SOLVUSD

Solv Protocol (SOLV)

1

0.000001

80,000,000

Class E (10x)

12-Feb-2025

PF_SONICUSD

Sonic SVM (SONIC)

1

0.0001

4,500,000

Class E (10x)

28-Jan-2025

PF_SPELLUSD

Spell (SPELL)

1

0.0000001

1,800,000,000

Class D (20x)

27-Feb-2024

PF_SPXUSD

SPX6900 (SPX)

1

0.0001

4,500,000

Class D (20x)

19-Dec-2024

PF_SSVUSD

SSV Network (SSV)

0.1

0.001

150,000

Class D (20x)

07-Nov-2024

PF_STEEMUSD

Steem (STEEM)

1

0.00001

25,000,000

Class D (20x)

20-Jun-2024

PF_STGUSD

Stargate Finance (STG)

1

0.00001

3,000,000

Class E (10x)

26-Jul-2023

PF_STORJUSD

Storj (STORJ)

1

0.0001

5,000,000

Class D (20x)

07-Sep-2022

PF_STRKUSD

Starknet (STRK)

1

0.00001

4,000,000

Class C (25x)

21-Feb-2024

PF_STXUSD

Stacks (STX)

1

0.0001

3,000,000

Class B (50x)

30-Mar-2023

PF_SUIUSD

Sui (SUI)

1

0.0001

5,000,000

Class B (50x)

03-May-2023

PF_SUNDOGUSD

SUNDOG (SUNDOG)

1

0.00001

10,000,000

Class D (20x)

15-Oct-2024

PF_SUNUSD

Sun (SUN)

1

0.000001

150,000,000

Class E (10x)

22-Oct-2024

PF_SUPERUSD

SuperVerse (SUPER)

1

0.0001

1,500,000

Class D (20x)

25-Apr-2024

PF_SUSD

Sonic (S)

1

0.0001

4,000,000

Class D (20x)

18-Jan-2025

PF_SUSHIUSD

SushiSwap (SUSHI)

1

0.0001

4,000,000

Class C (25x)

31-Aug-2022

PF_SWARMSUSD

Swarms (SWARMS)

1

0.00001

40,000,000

Class D (20x)

04-Feb-2025

PF_SWEATUSD

Sweat Economy (SWEAT)

1

0.0000001

500,000,000

Class E (10x)

01-Aug-2024

PF_SWELLUSD

Swell (SWELL)

1

0.000001

80,000,000

Class D (20x)

14-Nov-2024

PF_SXPUSD

Solar (SXP)

1

0.00001

5,000,000

Class C (25x)

19-Jul-2023

PF_SXTUSD

Space and Time (SXT)

1

0.00001

21,800,000

Class D (20x)

22-May-2025

PF_SYNUSD

Synapse (SYN)

1

0.0001

6,000,000

Class D (20x)

22-Aug-2024

PF_SYRUPUSD

Syrup (SYRUP)

1

0.00001

9,000,000

Class D (20x)

19-May-2025

PF_TAIKOUSD

Taiko (TAIKO)

1

0.0001

1,700,000

Class D (20x)

26-Nov-2024

PF_TAOUSD

Bittensor (TAO)

0.01

0.01

15,000

Class B (50x)

27-Jun-2024

PF_THETAUSD

Theta Network (THETA)

1

0.0001

3,000,000

Class C (25x)

12-Oct-2022

PF_THEUSD

THENA (THE)

1

0.0001

2,500,000

Class E (10x)

27-Dec-2024

PF_TIAUSD

Celestia (TIA)

0.1

0.0001

700,000

Class B (50x)

29-Nov-2023

PF_TLMUSD**

Alien Worlds (TLM)

10

0.000001

200,000,000

Class D (20x)

05-Jun-2024

PF_TNSRUSD

Tensor (TNSR)

1

0.0001

3,500,000

Class D (20x)

05-Jun-2024

PF_TOKENUSD

TokenFi (TOKEN)

1

0.00001

50,000,000

Class D (20x)

18-Jun-2024

PF_TONUSD

Toncoin (TON)

0.1

0.001

500,000

Class B (50x)

30-Apr-2024

PF_TOSHIUSD**

Toshi (TOSHI)

1000

0.0000001

5,000,000,000

Class E (10x)

12-Feb-2025

PF_TRBUSD

Tellor Tributes (TRB)

0.01

0.01

50,000

Class C (25x)

20-Jun-2024

PF_TRUMPUSD

OFFICIAL TRUMP (TRUMP)

0.1

0.001

200,000

Class B (50x)

18-Jan-2025

PF_TRUUSD

TrueFi (TRU)

1

0.00001

15,000,000

Class D (20x)

17-Apr-2024

PF_TRXUSD

TRON (TRX)

1

0.000001

75,000,000

Class B (50x)

20-Jun-2022

PF_TSTUSD

Test (TST)

1

0.00001

18,000,000

Class E (10x)

12-Feb-2025

PF_TURBOUSD**

Turbo (TURBO)

100

0.0000001

600,000,000

Class C (25x)

05-Jun-2024

PF_TUSD

Threshold (T)

1

0.000001

100,000,000

Class D (20x)

08-May-2024

PF_UMAUSD

UMA (UMA)

0.1

0.0001

1,000,000

Class C (25x)

25-Jan-2024

PF_UNIUSD

Uniswap (UNI)

0.1

0.001

3,500,000

Class B (50x)

22-Mar-2022

PF_USDCUSD

USDC (USDC)

1

0.0001

5,000,000

Class B (50x)

11-Mar-2023

PF_USDTUSD

Tether (USDT)

1

0.0001

5,000,000

Class B (50x)

11-Mar-2023

PF_USUALUSD

Usual (USUAL)

1

0.00001

5,600,000

Class D (20x)

15-Jan-2025

PF_UXLINKUSD

UXLINK (UXLINK)

1

0.0001

5,000,000

Class D (20x)

17-Oct-2024

PF_VANAUSD

Vana (VANA)

0.1

0.001

200,000

Class D (20x)

22-Jan-2025

PF_VELOUSD**

Velo (VELO)

10

0.000001

100,000,000

Class D (20x)

04-Feb-2025

PF_VETUSD

VeChain (VET)

1

0.000001

150,000,000

Class D (20x)

07-Nov-2024

PF_VINEUSD

Vine (VINE)

1

0.00001

9,000,000

Class D (20x)

24-Jan-2025

PF_VIRTUALUSD

Virtuals Protocol (VIRTUAL)

1

0.0001

800,000

Class D (20x)

20-Jan-2025

PF_VOXELUSD

Voxies (VOXEL)

1

0.00001

15,000,000

Class D (20x)

19-Dec-2024

PF_VVVUSD

Venice Token (VVV)

0.1

0.001

400,000

Class D (20x)

12-Feb-2025

PF_WCTUSD

WalletConnect Token (WCT)

1

0.0001

4,800,000

Class D (20x)

22-May-2025

PF_WIFUSD

dogwifhat (WIF)

1

0.0001

8,000,000

Class B (50x)

22-Jan-2024

PF_WLDUSD

Worldcoin (WLD)

1

0.0001

1,500,000

Class B (50x)

02-Aug-2023

PF_WOOUSD

WOO (WOO)

1

0.00001

10,000,000

Class E (10x)

05-Apr-2023

PF_WUSD

Wormhole (W)

1

0.00001

5,000,000

Class C (25x)

08-Apr-2024

PF_XBTUSD*

Bitcoin (BTC)

0.0001

1

1,200

Class A (50x)

22-Mar-2022

PF_XCNUSD**

Onyxcoin (XCN)

10

0.000001

88,200,000

Class D (20x)

28-Jan-2025

PF_XLMUSD

Stellar (XLM)

1

0.00001

70,000,000

Class B (50x)

06-Jul-2022

PF_XMRUSD

Monero (XMR)

0.01

0.01

200,000

Class B (50x)

22-Mar-2022

PF_XRPUSD

XRP (XRP)

1

0.00001

50,000,000

Class A (50x)

22-Mar-2022

PF_XTZUSD

Tezos (XTZ)

1

0.0001

5,000,000

Class B (50x)

06-Jul-2022

PF_XVGUSD**

Verge (XVG)

100

0.000001

150,000,000

Class E (10x)

05-Dec-2024

PF_XVSUSD

Venus (XVS)

0.1

0.001

400,000

Class E (10x)

14-Feb-2025

PF_YFIUSD

yearn.finance (YFI)

0.0001

1

750

Class C (25x)

13-Jul-2022

PF_YGGUSD

Yield Guild Games (YGG)

1

0.0001

3,000,000

Class D (20x)

10-Apr-2024

PF_ZECUSD

Zcash (ZEC)

0.01

0.01

50,000

Class C (25x)

24-Aug-2022

PF_ZENUSD

Horizen (ZEN)

0.1

0.001

200,000

Class C (25x)

05-Dec-2024

PF_ZEREBROUSD

Zerebro (ZEREBRO)

1

0.00001

8,500,000

Class E (10x)

22-Jan-2025

PF_ZETAUSD

ZetaChain (ZETA)

1

0.0001

3,000,000

Class D (20x)

15-May-2024

PF_ZEUSUSD

Zeus Network (ZEUS)

1

0.00001

25,000,000

Class D (20x)

04-Jul-2024

PF_ZILUSD**

Zilliqa (ZIL)

10

0.000001

120,000,000

Class D (20x)

26-Nov-2024

PF_ZKUSD

ZKsync (ZK)

1

0.000001

25,000,000

Class C (25x)

01-Aug-2024

PF_ZROUSD

LayerZero (ZRO)

1

0.0001

1,000,000

Class C (25x)

21-Jun-2024

PF_ZRXUSD

0x Protocol (ZRX)

1

0.00001

10,000,000

Class D (20x)

12-Apr-2023

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

**These contracts are not available on the legacy user interface and can only be accessed via Kraken Pro web or mobile and API

Contract specification changes are published on our Derivatives Platform Parameters Changelog.

Perpetual Derivatives are a type of Derivatives contract that have no expiration date and an auto-rolling feature every hour.

Perpetual contracts feature a funding rate, a payment between traders designed to keep the contract's price aligned with the underlying asset's spot price.

If the funding rate is positive, long positions pay short positions; if negative, short positions pay long positions.

Traders may pay or receive funding dependent on market conditions. The price difference is calculated hourly, with funding adjustments reflected as unrealized profit or loss, settling at the end of each hour or when the net position changes.

Additional Information

Auto-Roll Period

Every 1 hour at the end of the hour

Rate-setting Calculation Window

Rate for next period is calculated over current 1-hour period (e.g., rate for 12-13 UTC period is calculated in window between 11-12 UTC)

Funding Rate

Between start and end of the Rate-setting Period the Funding Rate is computed as the time-weighted average premium, and standardised to a per-hour basis. Permissible range per 1 hours: [-0.25%, +0.25%]*** (i.e., 600 basis point magnitude for 24-hour realisation period)

Payout Frequency

Continuously based on Funding Rate set at the end of the prior Funding Period. Positions will immediately and continuously receive or send funding while open in the perpetual contracts. The funding accumulates as unrealised profit/loss and settles every 1 hour at end of the Funding Period, or when user changes net open position (whichever occurs first).

Funding Rate Multiplier

n = 24 This is the coefficient used in the calculation of the funding rate. A value of 1/n means that, ceteris paribus, it will take n hours to realise the Average Premium. Example: if the Average Premium is 0.36% for the 1-hour period, then Funding Rate is equal to 0.015%, meaning that over the course of 24 hours, this 0.36% total will be realised.

Funding Rate Calculation

In a given 1-hour Funding Period, Premium values calculated from minutely perpetual contract prices (60 observations) using an Impact Mid are recorded versus the Real Time Platform Ticker. The Impact Mid is the median of the average entry price market-selling x value of contracts and market-buying x value of contracts. See table above for contract-specific values. The Average Premium is calculated as the average of the mid 30 values recorded from the above 60 observations. Finally, this value is weighted by the Funding Rate Multiplier. If Average Premium is greater than 0 for the 1 hour period, those in Long positions will continuously pay out to Short positions, which pushes the price closer to Index. If Average Premium is less than 0 for the 1 hour period, those in Short positions will continuously pay out to Long positions, which pushes the price closer to Index.

Trading Hours

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

P&L Settlement Method

Cash settled in USD with optional payout in any of the collateral currencies (profit only, losses are always realised in USD)

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. No fees are charged on auto-roll or funding payouts -- these occur strictly between counter-parties.

Contract Expiration

The perpetual derivatives are non-expiring, which means that positions in the contract are never “expired” or “matured”, however there is a settlement process every hour that applies funding to anchor the spot value to the Index. See Last Trading for more information.

Settlement time

Every 1 hour at the end of the hour: The accumulated unrealised funding is settled and new rate set based on TWAP premium to index in prior rate period.

Last Trading

This contract remains trading perpetually and would only expire in an emergency situation if Kraken Derivatives deems necessary to settle/expire the contract. Kraken Derivatives reserve the right to set any contract to post-only, suspended, or settle any contract at any time and without warning due to either adverse market conditions or regulatory risk. 

Initial Margin

As low as 2%

Maintenance Margin

Half of Initial Margin

Maximum Initial Leverage

Up to 50x

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 for perpetual contracts is capped at 1%. 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.

Margin & Settlement Currency

USD, but with full collateral options of BTC, ETH, ADA, DOT, LTC, SOL, XRP, USDT, USDC, EUR, and GBP, adjusted for haircut (see Derivatives Collateral Currencies)

The funding rate for a given perpetual contract is represented in two different ways:

  • absolute rate: The amount of funding an account will receive by maintaining a 1 contract unit short position for 1 hour. This is more useful for account log purposes.

  • absolute funding payout = # of contracts * absolute funding rate * time elapsed within funding period without position alteration

  • relative rate: The absolute funding rate relative to the spot price at the time of funding rate calculation. This is an intermediate value in the calculation of the absolute funding rate and is the number we display in the front end (as a %) as the 'funding rate'.

  • relative funding payout = # of contracts * (relative funding rate*spot price) * time elapsed within funding period without position alteration

Funding Rate Examples

In order to get a complete understanding of the funding rate dynamics of the Perpetual Contract, we present examples to demonstrate the key features.

  1. 1

    Assume time is 12 UTC and that the price of BTC is $37,000 (via bitcoin-dollar real-time index) and the Perpetual trades at $37,100 the whole time until 13 UTC. The average premium is computed as 0.27027% for the 1-hour period (100/37,000). This leads to a funding rate of 0.27027 / 24 = 0.01126125% per hour.

    Now assume that you are in a short position of 2 BTC, with 1 BTC perpetual contract valued at $37,100. If you hold this position from 13 to 14 UTC, and the premium in the 13 to 14 UTC period remains as 0.27027%, then you will be paid funding of 8.333325 USD for the one-hour period [(2*37000)*0.0001126125]

  2. 2

    Assume time is 12 UTC and that price of BTC is $37,000 and the Perpetual trades at $39,700 until 13 UTC. The average premium is computed as 7.297297% for the 1-hour period. This leads to a funding rate of 7.297297 / 24 = 0.30405404% per hour.

    The maximum funding rate per hour in any given period is 0.25%. The minimum is -0.25%.

    As a result, this 0.30405404% hourly rate is floored to 0.25% per hour, so that the maximum 24 hour realisation will not exceed 6%.

    Note that there is no "dampening" of rates done in this model: if a 1 hour computed rate is near 0, then it will pay out non-0 value even if it is de minimis.

  3. 3

    Assume time is 13 UTC and that the index spot price of BTCUSD is $37,000, and the relative rate set for the 1 hour period is 0.05% per hour.

    Now assume the time is 13:30 UTC and the perpetual trades at $38,000 and you enter a Short position of 4 BTC at this price.

    You will immediately begin receiving funding at an absolute rate of 0.05%*$37,000 = 18.5 USD per hour per unit.

    In your available balance you will then see this rate applying in your unrealised PnL through continuous funding payout equal to:

    18.5 * 4 BTC = $74 per hour

    $1.233 per minute

    This will pay out continuously until 14 UTC where the relative funding rate will change based on the market activity between 13-14 UTC.

    In your 4 BTC short position at the end of the half hour period you will have $36.99 applied in your account log at 14 UTC.

    Assume this new relative funding rate is now 0.03% and the real-time spot index is $37,900 for BTCUSD at 14 UTC. 

    From 14 UTC to 15 UTC a new absolute funding rate will begin applying of 0.03%*$37,900=$11.37 per hour per unit.

  4. 4

    Assume time is 14 UTC and you enter a position long 2 BTC on BTCUSD at 37,000. Assume that the funding rate for the one-hour period (13-14 UTC) is set as -0.04% per hour.

    At 15 UTC, after you have held this position for one full hour, you will have earned $29.6 [(0.0004*2 BTC)*37,000], which credits continuously throughout the hour period you hold it.

    However, during this period, the price was at a premium and so the new one-hour rate set for 14 - 15 UTC is 0.04% per hour. After one hour of holding the position, you have paid $29.6 and you close at 16 UTC.

    Your funding for the two hour period you held the position is thus + $29.6 for the first period and then - $29.6 for the first second and your net flows are 0 for this.

  5. 5

    Assume it's 12 UTC you are in a 5 BTC long position on BTCUSD with spot index at $37,000 and the rate in the funding period is -0.08%. This credits and debits every millisecond to every user with an open position. It credits first as unrealised profit and loss, but you have the funds available right away to use in further positions or transfer into your Cash account. The funding is booked into your account log and realised when one of the following events occur:

    - You adjust your open position up or down by any amount,

    -You hold until the end of the Funding Period, at which point it is booked (occurs at the end of every hour).

  6. 6

    Assume it's 12 UTC you are in a 3 BTC long position on PF_BTCUSD with spot index at $37,000 and the rate in the funding period is -0.05%. Assume that you have set your profit currency as ETH and you hold this position until the end of the funding period at 13 UTC.

    0.0015*37,000*3 = $55.5 per hour

    At the end of the period at 13 UTC, assume that the price of ETH is 2,500 (from the ether-dollar real-time index)

    The conversion can be calculated using the following:
    = Amount in USD to be converted / (Target currency index * (1 - 0.25%))
    = 55.5 USD / (2,500 ETHUSD * .9975)
    = 0.022 ETH

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 2%

Maintenance Margin: Half of Initial Margin

Maximum Initial Leverage: Up to 50x

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: 23 May, 2025

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