Derivatives offered by ASFL No. 545124 are complex, regulated financial products and may not be suitable for inexperienced investors. For eligibility, terms and conditions you can go here.

Commodity perpetuals are unavailable in your region
ProPerpsCommodity Perpetuals

Commodity perpetuals

Commodities just went perpetual

Trade gold, silver, crude oil and more around the clock. Long or short commodity perps with up to 25x leverage.
Kraken Pro Commodity perps

Available on

Meet a new breed of commodity

Take a leveraged macro or hedging view with no need for physical delivery.

Trade gold, silver and copper as a macro hedge

Take a leveraged position on precious metals in risk-off moves, long or short, cash-settled.
Hedging with gold

Trade the oil and gas cycle, leveraged

Long or short crude and gas on supply and macro shifts, including Brent, WTI, and natural gas.
Max leverage for commodities perps

No futures account or delivery required

No physical delivery. No expiry to roll. And no separate commodity futures account. You can just trade the price in USD cash-settled perps.
Settle commodities in cash

Commodities and crypto in one account

Fund one balance for metals, energy and crypto, so you can hedge crypto exposure with gold, or rotate between them, without leaving Kraken Pro.
Commodities and crypto in one porfolio
$2T+
Total transaction volume
190+
Supported countries
13M+
Registered users
15+ years
Operating since 2011

How it works on Kraken Pro

Four simple steps from funding one account to managing an open commodity position.

1.

Fund your account
Deposit crypto or fiat as collateral. One balance funds positions across all available perpetuals.

2.

Pick a commodity
Choose a metal or energy perpetual and set your desired direction.

3.

Size with leverage
Apply leverage within your limits, set your entry, and place protective orders.

4.

Manage the position
Track funding, watch your liquidation level, and adjust with reduce-only orders.

Commodity perps FAQs

On Kraken Pro. Trade gold, silver, crude oil, natural gas and copper as USD cash-settled perpetuals, long or short, up to 25x, 24/7, and in the same account as your crypto.
No. These are cash-settled USD perpetuals so there's no need for physical delivery and no expiry to roll, you trade the price move.
Gold, silver, Brent and WTI crude oil, natural gas and copper.
Up to 25x on gold, silver and Brent crude oil. Up to 20x on copper, natural gas and WTI crude oil. Leverage magnifies gains and losses, and most retail derivatives accounts lose money.
Commodity perpetuals are launching everywhere Kraken operates, except US, UK, Canada, Australia, India, UAE, Philippines, Kazakhstan, New Zealand, Singapore, and Hong Kong, as well as sanctioned countries.

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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.

Trading on margin involves significant risk and may not be suitable for all investors. You could lose more than your initial investment. Spot margin trading products are offered by Payward Trading Ltd, incorporated in the British Virgin Islands (BVI). This content is for informational purposes only and does not constitute financial or investment advice. Product availability may vary by jurisdiction. Please ensure you fully understand the risks involved before trading. Past performance is not indicative of future results.



xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (PDSL), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not, nor will they be registered with any local securities regulators. PDSL (Kraken) does not provide investment advice and/or recommendations, and, no communication, through any Kraken App or website or otherwise, should be construed as such. Individual investors should make their own decisions or seek professional independent advice if they are unsure as to the suitability / appropriateness of any investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk. The value of an investment may go down as well as up, and past performance is not a reliable indicator of future results. Not available in the U.S. or to U.S. persons. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at assets.backed.fi/legal-documentation to learn more.



×Stocks Perps are offered to eligible Kraken customers via Payward Digital Solutions Ltd. ("PDSL"), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. Neither this product nor xStocks are or will be registered with any local securities regulators. Trading derivatives involves a high level of risk and may not be suitable for all investors. You may lose more than your initial investment. This is not investment advice. Not available in the US and other geographic restrictions apply. For the full terms and conditions, please refer to Kraken's Terms of Service.



Kraken Prop is an unregulated service. This evaluation program is intentionally rigorous and designed to verify a trader’s risk-management skill and strategy discipline before any proprietary capital is allocated by Payward Oceanic Ltd. Most applicants do not pass on their first attempt and there is no guarantee that your performance will improve or that you will pass any future evaluations. Prospective traders should purchase an evaluation only if they are confident in their trading ability and knowingly accept the risk of not qualifying for a funded account. Evaluation fees are non-refundable for each attempt once trading begins, regardless of outcome.