Funding Rates

Trade the funding rate

Read live funding, open interest and liquidations, then position for the funding and basis spread.
Kraken Pro trading dashboard with price chart and funding rate graph.

Available on

$2T+
Total transaction volume
190+
Supported countries
13M+
Registered users
15+ years
Operating since 2011

Trade the rate, don't just pay it

Funding moves every hour. Kraken Pro shows the live rate, open interest and liquidations, so you can act on it, not absorb it.

See funding before you enter

Check the live funding rate and its history on Kraken Pro so you know the carry before you size a position.
Green and red bars along a line showing funding payments over time, rising toward the most recent.

Run the funding basis

Go long or short the perpetual against spot to capture or pay funding as your strategy dictates.
A perp and a spot price line converging, with the gap labelled "Basis +0.18%."

Read the crowd

Track open interest and liquidations to gauge positioning and pressure before a move.
A split bar showing 62% long against 38% short.

Arbitrage the spread

Structure funding-rate arbitrage between spot and perpetual when the carry justifies it.
Two rows, "Buy spot 1 BTC" above "Sell perp 1 BTC."

Trade 350+ markets

Choose from hundreds of tradable contracts.

How it works

1. Check the funding rate
Read the live rate and history for the contract you’re looking to trade.
2. Choose your side
Long or short the perpetual depending on whether you pay or receive funding.
3. Set the position
Size it, place your orders, and factor funding into your carry.
4. Manage funding and exit
Track the rate over the hold and close when the spread closes.

Funding rates FAQs

Kraken Pro shows live funding, open interest and liquidations on its perpetual futures, so you can position for the funding and basis spread.
On Kraken Pro, the funding rate is a periodic cash payment between traders holding long and short positions on perpetual futures. It is not a fee charged by the exchange. It is an anchor mechanism used to keep the price of a perpetual contract close to the asset’s spot market price.
Holding offsetting spot and perpetual positions to earn the funding spread while staying market-neutral.
On Kraken Pro, perpetual futures funding payments occur every hour for UK, European, and global clients, while US clients typically operate on an 8-hour funding interval schedule. The funding amount is calculated continuously and settled at those intervals depending on your geo.
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Trading on margin involves significant risk and may not be suitable for all investors. You could lose more than your initial investment. Spot margin trading products are offered by Payward Trading Ltd, incorporated in the British Virgin Islands (BVI). This content is for informational purposes only and does not constitute financial or investment advice. Product availability may vary by jurisdiction. Please ensure you fully understand the risks involved before trading. Past performance is not indicative of future results.

The educational material on this page is for information only and does not constitute an offer to trade futures. Kraken Futures is provided by a different licensed Kraken entity depending on where you live. Derivatives are complex instruments that carry a high risk of rapid losses due to leverage. You should not risk money you cannot afford to lose. Tax treatment depends on your individual circumstances and may change. Geographic restrictions may apply and can change without notice. Kraken products and services may not be covered by investor-compensation or deposit-protection schemes. Nothing on this page is investment, legal or tax advice. Access is subject to eligibility, local regulation and the terms of service for the legal entity you face. 

United States 
NinjaTrader is a group of affiliated companies operating under NinjaTrader Group, LLC (“NTG”), including NinjaTrader, LLC (“NT”) and NinjaTrader Clearing, LLC d/b/a NinjaTrader, Kraken Derivatives US, and Tradovate (“NTC”). NT owns and supports the proprietary NinjaTrader trading platform as a software development company, while NTC provides brokerage services. View Disclosures.
NTC is registered with the Commodity Futures Trading Commission (“CFTC”) as a futures commission merchant (“FCM”) and is a National Futures Association (“NFA”) Member (NFA ID: 0309379). Questions related to brokerage accounts should be directed to your broker.
Futures, security futures, options, foreign currency, digital asset, and event contract trading involves substantial risk and is not suitable for everyone. An investor may lose all or more than the initial investment. Trading should be undertaken only with risk capital—funds that can be lost without jeopardizing one’s financial security or lifestyle—and only by those who can afford such losses. Past performance is not necessarily indicative of future results. Prior to trading digital assets, review the CFTC and NFA advisories for additional information regarding the significant risks involved. View Risk Disclosure Statement, including the Risk Disclosure Statement for Security Futures Products.

European Economic Area
Investment services, ancillary services and investment activities (the "Services") in relation to financial instruments are provided and carried out by Payward Europe Digital Solutions (CY) Limited (ex I.F. Greenfields Wealth Ltd) ("PEDSL-CY"). PEDSL-CY is authorised and approved by the Cyprus Securities and Exchange Commission (CySEC) for the provision of the Services with licence number 342/17. PEDSL-CY is registered in Cyprus with registered number HE 356603 and registered office at Athalassas, 62, MEZZANINE, Strovolos 2012, Nicosia, Cyprus. See Risk Disclosures here. Click here to learn more about trading futures in the EEA.

United Kingdom
In the UK, access to crypto asset derivatives services are restricted to persons meeting the criteria for categorisation as a professional client. These services are provided by Payward Digital Solutions Limited, which is licensed by the Bermuda Monetary Authority (RN: 202403268) to conduct digital assets business in and from Bermuda. These services are not regulated or covered by investor protection measures in the UK. Access to these services is arranged by Crypto Facilities Limited, which is regulated and authorised by the Financial Conduct Authority (FRN: 757895) to make arrangements with a view to transactions in investments. For more information click here.

Communications regarding crypto asset derivatives services are directed at persons having professional experience in matters relating to investments, high net worth companies, or any other person to whom it may be lawfully directed under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (together, “relevant persons”). Only relevant persons may rely or act upon such communications and engage in investment activity. 

Australia
For persons who are wholesale clients as defined in the Corporations Act 2001, Kraken Futures is provided by Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL 545124). Derivatives are complex, regulated financial products that may not be suitable for inexperienced investors. You could lose your entire investment and should seek independent financial advice before trading. Click here to learn more about trading futures in Australia.

Other Countries
In jurisdictions not listed above, Kraken Futures is provided by Payward Digital Solutions Ltd. which is licensed to conduct digital asset business by the Bermuda Monetary Authority. Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Click here to learn more about trading futures.

Securities and brokerage services offered to US residents by Kraken Securities LLC, member FINRA/SIPC. Securities offered to EEA residents by Payward Europe Digital Solutions (CY) Limited, regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no 342/17. PEDSL does not provide investment advice. Trading Equities involves significant risks and is not appropriate for all investors. The value of your investment may go down or up. Read the Offering Documentation and Risk Disclosure available on eu.kraken.com.