Kraken launches US perpetual futures as crypto derivatives go onshore
Kraken now offers regulated perpetual futures to US customers through Kraken Pro, marking a major shift of crypto derivatives from offshore to onshore venues.
Kraken has launched regulated perpetual futures for US customers, bringing one of crypto's most popular trading products onshore after years of offshore dominance.
The contracts are available through Kraken Pro and are listed on Bitnomial, a CFTC-regulated exchange acquired by Kraken's parent company Payward earlier this year. Traders can access these products alongside spot trading, margin trading and CME-listed crypto futures through a single interface, according to a company blog post on Monday. Perpetual futures, or "perps," allow traders to take long or short positions on assets without an expiration date, using funding rates to keep prices aligned with the underlying spot market.
For crypto traders, this development is significant because perpetual futures have historically been dominated by offshore exchanges like Binance and Bybit, limiting US retail access. The launch provides a regulated alternative that could attract institutional and retail liquidity, potentially narrowing the spread between offshore and onshore pricing. Traders can monitor the impact on volume and funding rates through NowPrice's live crypto dashboard, which tracks real-time data across major exchanges.
Looking ahead, the success of Kraken's offering will depend on liquidity depth and fee competitiveness compared to established offshore venues. Other US exchanges may follow suit if regulatory clarity continues to improve, potentially reshaping the derivatives landscape. Traders should watch for volume growth and any adjustments to margin requirements as the product matures.