Today we’re launching Kraken Perps (short for Kraken Perpetuals), available in select regions toeligible clients worldwide. These offer a simple, flexible way to trade on where you think prices are headed — without needing to own the underlying asset – directly from the Kraken app.
What are perpetual contracts (Perps)?
Have you ever made a bet with a friend at the start of a sports season about who will win the championship? This is similar to how a perpetual contract works — you’re placing a high-conviction call on a future outcome in the crypto market.
For example:
“I think Bitcoin’s going to surge over the next few months.”
“Ethereum’s price might dip after its next upgrade.”
“Memecoins are back, so I think Solana’s price is about to take off.”
With Kraken Perps, you can act on these predictions. Perps are trading instruments designed to let you speculate on future price movements — up or down — without owning the asset involved. Unlike a bet with your friend, there’s no expiry date or lock-in period, so you can hold your position as long as you want. You also have the freedom to adjust the size of the position if you have more conviction over time, or cash out anytime.
All you need is to fund the trade with assets from your Kraken balance (called collateral) to open a position. USD will be supported at launch, with more assets to follow soon.
Then pick “Increase” or “Decrease” depending which way you think the price of the asset will go and decide how large you want the position to be. That’s it.
A real world example
Say you believe Bitcoin is undervalued, instead of buying BTC on the Kraken spot market, you could go long on an BTC perpetual contract and profit if you’re right in predicting that the price will increase.
Or maybe you think a particular token is overhyped and is primed for a price decline. In that case, you could go short — and profit if BTC falls in price.
Of course, things change over time. If you feel more confident in your view, you can look to increase the size of your position; if you feel less confident, you can take money off the table.
Kraken Perps are about more than just trading — they give you new ways to express your views, manage risk, and build strategy into your portfolio.
Why Perps matter
Perpetuals have long been popular with advanced traders, but they’ve often felt out of reach for everyday investors.
Kraken Perps is changing that. Designed to be intuitive and approachable, with clean interfaces, straightforward language and helpful features. Kraken Perps allow you to trade with less complexity and more confidence.
Safety comes first
We built Kraken Perps with security, transparency and education at the core. Like all trading, perps carry risk — and they’re not designed for everyone. But, with the right tools and information, they can be a powerful part of your investing toolkit.
To help manage risk, Kraken Perps include built-in protections, like customizable stop-loss orders, which automatically limit your downside if the market moves in the opposite way to how you predicted.
Plus, we’re rolling out a suite of educational resources to help you understand how perps work and how to use them responsibly.
Trade the future with Kraken Perps
Kraken Perps are now live for eligible clients — and we’re just getting started. We’ll continue expanding access, refining the experience, and delivering the right tools you need to trade the markets effectively.
Perps aren’t about becoming a day trader. They’re about having more ways and the right tools to express your views on the market, manage risk or add an extra layer of strategy to your portfolio.
Trading derivatives and other financial instruments, including leveraged financial instruments, involves significant risks and is not appropriate for all investors. See our Risk Disclosure to learn more.
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