Cosmos Futures

Yes. Kraken offers Cosmos (ATOM) futures trading through its Kraken Pro platform.
Clients in the United States are able to trade fixed term futures through Kraken’s regulated U.S. affiliate, Kraken Derivatives US (operated by NinjaTrader Clearing LLC dba Kraken Derivatives US).

Clients in eligible regions outside the United States can trade ATOM/USD perpetual futures contracts on Kraken Pro. These perpetual futures do not expire like traditional futures contracts, allowing traders to hold positions indefinitely while paying or receiving a funding rate to keep prices aligned with the spot market. They enable you to go long or short on Cosmos’s price and use leverage to amplify your exposure.

​​All Kraken futures contracts are quoted and margined in USD. Perpetual futures contracts can be collateralized using a variety of assets — including cryptocurrencies, stablecoins, and select fiat currencies. Traders can choose between cross margin (shared collateral across positions) or isolated margin (dedicated collateral per position) to manage risk effectively.

For U.S. clients, Kraken provides access to CME-listed Cosmos futures via Kraken Derivatives US, where contracts are traded with USD-only collateral under U.S. regulatory frameworks.

Kraken Pro offers several ways to trade Cosmos (ATOM) futures depending on your region.

In many supported countries, clients can trade ATOM/USD perpetual futures contracts, so you can go long if you expect Cosmos's price to rise or short if you expect it to fall, without worrying about expiration dates.

With futures leverage, you can amplify your market exposure using less capital, though this also increases potential risk.

Eligible clients can post various forms of collateral, including cryptocurrencies, stablecoins, and select fiat currencies. All collateral in your Futures Wallet is valued in USD and can be used under two margin modes:

• Cross margin: Shares collateral across all positions for greater flexibility.

• Isolated margin: Limits collateral to a single position to manage downside risk.

On Kraken Pro, you can open BTCATOM/USD futures positions without holding USD directly. Some collateral types may be subject to haircuts or conversion fees.

You can view the full list of supported collateral and margin haircuts on Kraken’s documentation page.

Availability:

• EU and most regions: Access to ATOM/USD perpetual futures on Kraken Pro.

• U.S. clients: Access to CME-listed Cosmos futures (provided by NinjaTrader Clearing LLC dba Kraken Derivatives US) with USD-only collateral.

Learn more in Kraken’s complete guide on How to trade crypto futures

Yes. Kraken Pro clients in eligible regions can trade ATOM/USD futures contracts using a range of collateral types. You can post cryptocurrencies and several stablecoins as collateral when trading Cosmos futures, without ever needing to hold USD directly.

Currently, all futures markets on Kraken Pro are quoted in USD, meaning ATOM futures contracts are settled and leveraged based on the collateral’s USD value.

You can use your crypto balances to fund your Futures Wallet, but note that collateral is always valued in USD for trading and leverage purposes.

Cosmos (ATOM) futures are financial contracts that allow traders to speculate on the future price of Cosmos. A ATOM futures contract is an agreement between two parties to exchange the fiat-equivalent value of Cosmos at a predetermined price on a specific future date.

Depending on their region, Kraken clients are able to access two different types of Cosmos futures contracts:

• Fixed-term futures: Available in the United States. These contracts have a set expiration date, at which point the position is settled based on the contract’s final price. They are often used by traders who want to hedge exposure or take a time-limited view on market direction.

• Perpetual futures: Available outside of the United States. Kraken Pro offers contracts that have no expiration date. Instead, they use a funding rate mechanism to keep the contract price closely aligned with Cosmos’s spot market price. Perpetual contracts let traders hold positions indefinitely, whether long or short, without needing to roll over to a new contract.

Both fixed-term and perpetual ATOM futures allow traders to profit from price increases or decreases, hedge against volatility, and use leverage to amplify potential gains — with proportionate risk if the market moves against them.

Perpetual futures contracts such as ATOM/USD perpetuals on Kraken Pro do not have an expiration date. To keep the price of these contracts in line with the spot market, a mechanism called the funding rate is used.

The funding rate is a periodic payment exchanged directly between traders who hold long and short positions:

• When the funding rate is positive, traders holding long positions pay funding to those holding short positions.

• When the funding rate is negative, shorts pay longs.

This mechanism helps ensure that the perpetual futures price stays close to Cosmos’s spot price by creating a financial incentive for traders to take positions that balance the market.

On Kraken Pro, funding is automatically applied at set intervals, and traders can view the current funding rate, historical rates, and funding schedule directly within the trading interface.

Funding rates can change based on market volatility, liquidity, and open interest, so it’s important for traders to monitor these values as part of their futures strategy.

On Kraken Pro, margin represents the amount of collateral required to open and maintain a futures position. Margin allows you to use leverage, which amplifies both potential profits and potential losses.

When you open a position, Kraken calculates your required margin based on several factors, including:

• The contract type and size of your position

• The leverage you choose (up to the maximum allowed)

• The type and value of your collateral, which is converted to USD for margining

• The current market volatility and risk parameters
  

Kraken Futures supports two margin modes:

• Cross margin: Uses your entire futures wallet balance as shared collateral across all open positions. This can help reduce liquidation risk by offsetting gains and losses between positions.

• Isolated margin: Allocates collateral to a single position, limiting potential losses to that specific trade.
  

Your margin level is continuously updated as market prices change. If your account’s equity falls below the maintenance margin threshold, your position may be liquidated to prevent further losses.

Traders can monitor their available margin, leverage, and liquidation prices directly within the Kraken Pro interface to manage risk effectively.

The collateral you can use for futures trading on Kraken depends on your region and product type.

Clients outside the United States (Kraken Pro)

Eligible international clients can trade BTC/USD perpetual futures and other crypto pairs on Kraken Pro using a multi-collateral futures wallet.
You can post a variety of assets as collateral, including:

• Cryptocurrencies such as BTC, ETH, and others

• Stablecoins like USDT and USDC

• Select fiat currencies, depending on your jurisdiction

All collateral is valued in USD for margining purposes. You can choose between cross margin, which shares collateral across positions, or isolated margin, which allocates collateral to individual trades.
Certain collateral types are subject to haircuts or conversion fees, which adjust their effective value when used as margin. A full list of supported collateral and haircut rates is available on Kraken’s documentation page.

Clients in the United States (Kraken Derivatives US)

In the United States, Kraken Derivatives US (operated by NinjaTrader Clearing LLC dba Kraken Derivatives US) offers access to CME-listed Bitcoin futures.
These regulated contracts require USD-only collateral, meaning U.S. traders must fund their futures accounts with cash collateral rather than crypto assets or stablecoins.

Kraken is one of the longest-standing and most trusted cryptocurrency exchanges in the world, founded in 2011 and operating under strict security and compliance standards.

Safety and security are core to Kraken’s platform design:

• Regulatory oversight: Kraken operates under multiple regulatory frameworks globally and partners with regulated entities, including Kraken Derivatives US in the United States.

• Fund security: The majority of client funds are held in offline cold storage, with regular audits and proof-of-reserves verification.

• Account protection: Users can enable two-factor authentication (2FA), withdrawal confirmations, and device approvals to safeguard access.

• Platform integrity: Kraken employs robust internal controls, penetration testing, and encryption standards to protect client assets and data.

These measures have helped Kraken maintain one of the strongest security track records in the industry, making it a trusted place to trade both crypto and futures.

Starting to trade Cosmos (ATOM) futures on Kraken is straightforward.
The process depends on your location, but typically involves the following steps:

1. Create and verify your account: Sign up at Kraken.com and complete identity verification to access futures trading features.

2. Fund your account: Deposit crypto, stablecoins, or fiat currencies for perpetual futures contracts or USD for fixed-term CME contracts.

3. Select BTC/USD futures: Choose the contract you wish to trade, adjust your leverage, and decide whether to go long or short.

4. Monitor and manage positions: Track your margin, funding rates, and liquidation levels directly in the trading interface.

Kraken offers a transparent and competitive fee structure for futures trading.
Fees vary based on trading volume, order type, and market conditions, and are divided into maker and taker fees:

• Maker fees: Applied when you add liquidity to the market by placing a limit order below the market price (for buys) or above it (for sells).

• Taker fees: Applied when you remove liquidity by executing an order that matches immediately with the existing order book.

Key details:

• Fee rates are tiered based on your 30-day trading volume — higher volume traders receive lower fees.

• For perpetual futures, a funding rate may apply periodically, depending on market conditions.

• No hidden fees — all charges are displayed before you confirm a trade.

Full details can be found on Kraken’s Futures Fee Schedule, available within the platform’s support documentation

Kraken operates two distinct derivatives offerings to comply with regional regulations and provide the best trading experience for different clients.

Kraken Pro

• Available to clients outside the United States.

• Supports perpetual futures contracts with multi-collateral trading, allowing the use of crypto, stablecoins, and select fiat currencies.

• Offers flexible cross or isolated margin options and a wide selection of trading pairs.

Kraken Derivatives US

• Operated by NinjaTrader Clearing LLC dba Kraken Derivatives US.

• Available to U.S. clients.

• Provides access to CME-listed Cosmos futures, regulated under U.S. futures markets.

• Requires USD-only collateral and adheres to strict U.S. regulatory requirements.

This structure ensures that Kraken meets compliance standards while offering high-performance derivatives trading experiences for both international and U.S. traders.

Kraken combines security, transparency, and professional-grade trading tools to provide a reliable environment for crypto futures trading.

Key reasons traders choose Kraken include:

• Strong security record: Over a decade of trusted operation with best-in-class security protocols and zero major breaches.

• Transparent and compliant: Licensed and regulated in multiple jurisdictions, offering clear product segmentation between global and U.S. markets.

• Multi-collateral trading: Ability to post various assets (crypto, stablecoins, fiat) as collateral on Kraken Pro.

• Advanced trading features: Access to leverage, isolated and cross margin modes, and perpetual futures contracts.

• User experience: A professional yet intuitive interface, deep liquidity, and responsive support for institutional and retail traders alike.
  
  

Whether you’re hedging positions, managing portfolio risk, or speculating on price movements, Kraken offers a secure and sophisticated platform for trading Bitcoin and other crypto futures.

Learn more about the best futures trade platforms and what sets Kraken apart in our article on The best crypto futures trading platforms