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    Kraken Futures: Products, Collateral and Orders

    Distinguish Kraken derivatives products and account eligibility. Learn collateral transfers, order entry, closing, funding and conversion costs.

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    Which Kraken derivatives product?

    The Kraken name covers different account and product arrangements. International multi-collateral derivatives, EEA derivatives and Kraken Derivatives US have separate eligibility, specifications and fee schedules. US brokerage is provided by NinjaTrader Clearing, LLC doing business as Kraken Derivatives US. Do not apply an international perpetual's funding or leverage rules to a US or EEA contract. Check the legal entity and product shown in your own account; a supported interface language does not establish eligibility.

    Collateral and the derivatives wallet

    For the multi-collateral workflow, confirm verification, derivatives permissions and the accepted terms, then select a currently supported collateral currency. Transfer it to the derivatives wallet and confirm the available margin there. Accepted crypto collateral can have a haircut and change in value. P&L, fees and funding may require USD accounting or conversion: holding ETH as collateral does not mean an ETH-denominated contract or free conversion. Read the current collateral and conversion schedule.

    Select, open and manage the contract

    In Kraken Pro's market selector, select the derivatives contract and inspect its specification: perpetual or fixed maturity, base quantity, tick size and settlement. In the order form, choose direction, quantity and Limit or Market, then review the resulting notional and margin. An unfilled limit belongs in Open orders; only executed quantity creates exposure. Check the position, average fill, mark price and maintenance requirements before adding or changing a protective order. A limit controls price but does not guarantee a fill.

    Close and reconcile the ledger

    To reduce exposure, use the supported position close or reduce-only control and verify the resulting position quantity. Review pending orders independently. For linear multi-collateral derivatives, trading fees are accounted in USD; non-USD collateral may incur conversions or other charges under the applicable rules. Reconcile gross price P&L, entry and exit fees, funding and conversion charges in the derivatives history. Transferring remaining collateral out is separate from closing a contract.

    Questions to answer before proceeding

    Is the account eligible for this exact product, and which entity provides it? Which assets count as collateral after haircuts? Is the quantity shown in base assets or contracts? When is funding charged, or when does the dated contract settle? What happens to a stop after a partial fill or close? If any answer is unclear, use the official specification and demo documentation first. The general Kraken review and fee guide provide supporting context; they cannot replace the account's own terms.

    Sources and review scope

    Product documentation and the new examples were checked on 14 September 2026. Examples use stated hypothetical inputs. Current availability, specifications and account-specific charges must be checked with the provider.
    Kraken Pro · Kraken Multi-Collateral · Kraken · Kraken

    Derivatives & Leveraged Products — Important Risk Warning

    Derivatives and leveraged products are complex and carry a high risk of rapid, substantial losses. Depending on the product and account rules, losses can exceed the initial margin or money committed. A stand-alone purchased option can lose its entire premium plus transaction costs; writing options, exercising into another position, or combining positions can create additional obligations. An uncovered call writer can face unlimited loss. Applicable legal protections can affect the loss boundary.

    You should carefully consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. This content is for educational purposes only and does not constitute financial advice, investment advice, or a recommendation to trade derivatives.

    Legal availability and regulatory protections depend on the product, service, provider and jurisdiction. In the EU, check the applicable investment-services rules, including MiFID II where relevant, and any product restrictions. Before trading, verify with the relevant regulator whether the provider has the permissions required for the service and whether the product may be offered to you. A website being accessible, or a product appearing on this website, does not establish authorization or eligibility.

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