TL;DR
- Kraken Pro has raised maximum leverage on BTC and ETH perpetual futures from 50× to 100× in eligible geos
- Applies to two contracts only: PF_XBTUSD and PF_ETHUSD, cash-settled in USD and trading 24/7
- 100× leverage is available up to $1M notional on BTC and $500K notional on ETH, then scales down by tier as position size grows
- No new account, no migration, no extra setup — if you already trade futures on Kraken Pro, the higher leverage is live on your existing account
What’s new
Two contracts. One change.
- PF_XBTUSD (BTC/USD perpetual): max leverage raised to 100×
- PF_ETHUSD (ETH/USD perpetual): max leverage raised to 100×
Both contracts remain cash-settled in USD and trade 24/7, same as before. Same futures wallet, same order types, same interface. The only difference is the number at the top of the leverage slider.
Every other contract on Kraken Pro stays exactly where it was. SOL, AVAX, DOGE, and the rest of the perp lineup are unchanged. This is a BTC and ETH update, full stop.
Who can trade it
100× is available to all eligible customers on Kraken Pro. If you’re an existing futures trader in eligible geos, the new leverage is already live on your account, no opt-in required.
How the leverage tiers work
This is the part worth reading carefully, because high-leverage offers across the industry are often described in a way that obscures the mechanic.
100× is the headline rate for the lowest notional tier. As your position grows, the maximum leverage scales down automatically, per tranche, not as a binary switch.
A $2M BTC position doesn’t get 100× on the whole position size, or 50× on the whole position size, It gets 100× on the first $1M and 50× on the next $1M, and the blended rate adjusts continuously from there.
The BTC and ETH schedule:
BTC (PF_XBTUSD)
| Position size | Max leverage |
|---|---|
| $0 to $1M | 100× |
| $1M to $3M | 50× |
| $3M to $5M | 25× |
| $5M to $10M | 20× |
| $10M to $30M | 10× |
| $30M to $50M | 5× |
| $50M to $150M | 3.3× |
| $150M+ | 2× |
ETH (PF_ETHUSD)
| Position size | Max leverage |
|---|---|
| $0 to $500K | 100× |
| $500K to $2M | 50× |
| $2M to $5M | 25× |
| $5M to $10M | 20× |
| $10M to $30M | 10× |
| $30M to $50M | 5× |
| $50M to $150M | 3.3× |
| $150M+ | 2× |
The tiers exist because the headline number has to be backed by real order book depth. 100× on a small position is risk that can be liquidated cleanly. Tiered leverage is how credible venues handle this, and it’s how Kraken Pro handles it now on BTC and ETH.
No more tradeoffs
If you’ve been running BTC or ETH perps elsewhere to get past the 50× ceiling, we know the tradeoffs you’ve been making – in liquidity, infrastructure, and platform trust. No more. The leverage is here. The rest of Kraken Pro is still the Kraken Pro you know.
Same wallet, same workflow, more room.
A note on risk
Higher leverage cuts both ways. A 100× position is 100× more sensitive to price movement than an unleveraged one, in either direction. Liquidations happen faster, slippage bites harder, and a thesis that would have survived at 10× can get stopped out in minutes at 100×.
Trade with capital you can afford to lose, size your positions deliberately, and use stops. Futures trading carries significant risk and is not suitable for every trader.
Get started
If you’re 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’re new to perps on Kraken, you’ll set up a futures wallet first, then you’re in.
We’ve raised the ceiling. Trade accordingly.
Also see the full Derivatives Margin & Maximum Leverage Schedule
Not available to EU or US users. Trading derivatives carries significant risk and may not be suitable for all investors.
Payward Digital Solutions Ltd. is licensed to conduct digital asset business by 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.