A carry trade in crypto futures captures the difference between the spot price of an asset and its futures contract price. Traders buy the asset in the spot market and simultaneously sell a futures contract, locking in the spread — known as the basis — as potential income if held to expiry.
On Kraken Pro, the basis is the price gap between a futures contract and the underlying spot price. When futures trade at a premium to spot (contango), a long spot and short futures position lets traders earn that spread, subject to funding costs, fees, and market risk.
Kraken Pro charges maker and taker fees on both the spot and futures legs of a carry trade. The net carry return depends on your fee tier, the size of the basis at entry, and any funding rates on perpetual contracts. Current fee schedules are listed at pro.kraken.com.
Yes. On Kraken Pro, perpetual futures carry trades capture the funding rate rather than a fixed expiry basis. When the funding rate is persistently positive, short perpetual positions receive funding payments from longs, which can offset the cost of holding a long spot position.
