Kraken Prop offers S&P 500 perpetuals with up to $200K in firm capital, 5x leverage, and 24/7 trading. Traders keep 80-90% of profits. Commodities are next.
Alpha Score of 49 reflects weak overall profile with strong momentum, poor value, moderate quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
Kraken’s prop trading arm has added the S&P 500 to its funded trading program, letting evaluated traders take positions on the US equity benchmark around the clock using the exchange’s capital.
The company said on August 12 that the S&P 500 is now available as a perpetual contract within Kraken Prop. Traders who pass an evaluation process can access wallet sizes from $5,000 to $200,000 in firm capital, keeping 80% to 90% of profits. The Nasdaq 100 had already been added earlier.
The funded trading model lets traders prove their skill during an evaluation with no time limit, subject only to drawdown rules. Once approved, they trade with the firm’s money. Both equity index contracts carry 5x leverage and a notional cap of $1 million. Profit payouts occur within 24 hours, faster than traditional prop firms where settlement can take days.
Perpetual contracts do not expire, unlike standard futures. This allows traders to hold S&P 500 positions at any time, including weekends, something conventional brokerages do not offer.
Kraken Prop launched on May 27, 2026, after Kraken acquired Breakout, a funded trading platform. The acquisition provided the infrastructure and regulatory framework for prop trading. Kraken has said commodities are next on the list, though it has not given specifics or a timeline.
The addition of equity index perpetuals raises regulatory questions. How US regulators classify these products – as swaps or futures – could affect who can access them. The funded trading model itself may draw scrutiny over whether it constitutes securities lending or an advisory relationship. Kraken’s acquisition of Breakout likely addressed some of these issues. The expansion into equities adds complexity.
The program currently offers the S&P 500 and Nasdaq 100, with commodities expected to follow.
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