Kraken launched regulated perpetual futures on Kraken Pro via Bitnomial's CFTC license. Nine tokens, funding every 8 hours. It competes with Kalshi and Coinbase.
Kraken launched regulated crypto perpetual futures on Kraken Pro, using the CFTC license it acquired with Bitnomial. The contracts settle through Kraken Derivatives US and clear under NinjaTrader Clearing, a registered futures commission merchant.
Perpetual futures have no expiration date. A funding payment every eight hours keeps the contract price near the spot market. Traders pay or receive funding based on the balance between long and short positions.
At launch, nine tokens are available: Bitcoin, Ethereum, Solana, XRP, Cardano, Chainlink, Dogecoin, Litecoin, and Avalanche. Kraken said it may add more contracts and collateral options later.
The rollout follows Kraken's May acquisition of Bitnomial, a CFTC-regulated exchange, clearinghouse, and brokerage. That infrastructure lets Kraken offer a product that has historically flowed to offshore venues like Binance and Bybit.
US regulators have been opening the door to crypto derivatives. Last month, the CFTC approved the first regulated Bitcoin perpetual futures contract through Kalshi. On the same day, Coinbase received approval for long-dated crypto futures designed to mimic perpetual exposure. Kalshi's Bitcoin contract passed $1 billion in trading volume shortly after launch, showing strong demand from retail and institutional traders, according to data cited by Kraken.
Kraken cited industry data showing perpetual futures generated more than $60 trillion in trading volume globally in 2025. The contracts dominate the crypto derivatives market.
The launch positions Kraken among a small group of regulated firms offering US-based perpetual futures. CME, a major player in regulated crypto futures, now faces a direct competitor in perpetuals. Kraken already supports CME crypto futures and recently added margin trading. The new product expands its trading suite as competition for US crypto derivatives business intensifies.
For traders, the key shift is access to a regulated perpetual product without relying on offshore exchanges. The CFTC oversight and clearing through a futures commission merchant reduce counterparty risk compared to unregistered platforms. Funding rates and liquidity will determine how quickly volume migrates onshore.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.