Today we’re thrilled to introduce an asset class that brings the world’s largest financial markets to Kraken Derivatives — FX perpetual futures (FX perps).
The first two perps launching at 20x leverage are EUR/USD and GBP/USD, with more forex pairs on the way soon. This offering gives you the same seamless, intuitive trading experience you’re accustomed to from our 300+ crypto perpetuals within Kraken Pro.
Alexia Theodorou, Kraken Head of Derivatives: “Kraken has long been one of the leading FX spot venues in crypto. By introducing FX perps, we’re capitalizing on this market-leading position by providing clients with a powerful new tool to better navigate and tailor exposure to some of the most widely traded currency markets in crypto today.
This expands the number of opportunities available for Kraken clients to capture value across a wider range of asset classes, all from one platform.”
What are FX perps?
FX perps are perpetual contracts based on forex market indices, benchmarked to DxFeed’s Composite Forex Index. These contracts trade without expiry, enabling traders to stay engaged in the forex market, refine strategies and capture opportunities in real time.
How FX perps work
- Real-time underlying data
FX Perps update every second when the underlying forex spot market is open. Traders can make decisions based on the most up-to-date market movements. - Market closure rules
When the underlying forex spot market is closed, special measures maintain fairness and market integrity:- Zero funding: No payouts are made if the index price becomes stale, unless more than 50% of the required premium observations are recorded within a period.
- Price collar restriction: Orders can only be placed within a 4% range of the last observed index price to prevent trades occurring outside reasonable market bounds.
- Seamless trading experience
FX perps live within the Kraken Pro platform’s familiar interface. Aside from special rules during market closures, they behave just like other perpetual contracts, making it easy for both new and experienced traders to get started right away. - 24/7 trading
FX perp markets are open 24/7, however they reflect traditional market hours when it comes to price updates. You can place trades at any time, but the index pricing will follow the standard open and close for forex markets.
Geography and market availability
We’re launching FX perps in eligible markets today, with plans to expand to more geographies soon. Stay tuned as we work to bring these products to additional markets, opening up even more avenues for traders to access real-time forex opportunities.
Why trade FX perps?
Kraken has been ramping up its presence in the forex space, and in 2024 alone, our clients traded $5.4 billion in FX spot markets, including $3.5 billion concentrated in EUR/USD and GBP/USD pairs. With FX perps, we’re expanding the ways you can interact with these critical forex pairs, combining deep market liquidity with a user-friendly platform built for performance.
