100x leverage on BTC and ETH perps is now available on Kraken Pro

TL;DR

• KrakenPro increased the maximum leverage on BTC and ETH perpetual futures Since 50× to 100× in eligible geographic areas
• Applies to two contracts only: PF_XBTUSD And PF_ETHUSDsettled in cash in USD and traded 24/7
• 100× leverage is available until $1M notional on BTC And $500,000 notional on ETHthen decreases by level as position size increases
• No new account, no migration, no additional configuration — if you already trade futures on Kraken Pro, the highest leverage is live in your existing account

What’s new

Two contracts. A change.

• PF_XBTUSD (BTC/USD perpetual): maximum leverage increased to 100×
• PF_ETHUSD (ETH/USD perpetual): maximum leverage increased to 100×

Both contracts remain cash-settled in USD and trade 24/7, as before. Same futures portfolio, same order types, same interface. The only difference is the number at the top of the lever slider.

All other contracts on Kraken Pro remain exactly where they were. SOL, AVAX, DOGE and the rest of the perp range are unchanged. This is a BTC and ETH update, period.

Who can exchange it

100× is available to all eligible customers on Kraken Pro. If you are already a futures trader in eligible geographies, the new leverage is already active in your account, no opt-in required.

How Leverage Levels Work

This is the part worth reading carefully, because high-leverage deals in the industry are often described in a way that obscures the mechanics.

100× is the overall rate for the lowest notional level. As your position increases, maximum leverage decreases automatically, in increments, not like a binary switch.

A $2 million BTC position doesn’t get 100× on the total position size, nor does it get 50× on the total position size, it gets 100× on the first million dollars and 50× on the next million dollars, and the blended rate continually adjusts from there.

The BTC and ETH calendar:

BTC (PF_XBTUSD)

ETH (PF_ETHUSD)

The levels exist because the overall figure must be supported by the actual depth of the order book. 100x on a small position is a risk that can be liquidated cleanly. Multi-level leverage is how credible sites handle this, and this is how Kraken Pro now handles it on BTC and ETH.

No more compromises

If you used BTC or ETH elsewhere to exceed the 50x cap, we know the compromises you made – in terms of liquidity, infrastructure and trust in the platform. No more. The leverage is there. The rest of the Kraken Pro is still the Kraken Pro you know.

Same portfolio, same workflow, more space.

A note on risk

Higher leverage goes both ways. A 100x position is 100x more sensitive to price action than an unleveraged position, in either direction. Liquidations occur more quickly, slippages are more severe, and a thesis that would have survived at 10x can be stopped in minutes at 100x.

Trade with capital you can afford to lose, size your positions deliberately and use stops. Futures trading involves significant risks and is not suitable for all traders.

To start

If you are already a Kraken Pro futures trader in an eligible region, open PF_XBTUSD or PF_ETHUSD using the new leverage in the slider. If you are new to Kraken, you will first create a futures wallet, then you are there.

We raised the ceiling. Trade accordingly.

Also see the full schedule of derivatives margin and maximum leverage.

Not available for EU or US users. Trading derivatives involves significant risks and may not be suitable for all investors.

Payward Digital Solutions Ltd. is licensed to carry out digital asset business with the Bermuda Monetary Authority. Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken Derivatives’ risk disclosure to learn more.