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Competition details

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1. What are futures?

   A crypto futures contract is an agreement between a buyer and a seller that represent opposite views of the future value of a cryptocurrency. Traders use futures contracts to take a view on the future price of an asset without having to own any of that asset. 

   A buyer profits if a contract’s underlying asset (such as BTC, ETH, or another cryptocurrency) increases in price, while a seller profits if it declines.

   
   Check out our Kraken Learn Center article What are crypto futures contracts? to learn more.

2. How is futures trading different from spot trading?

   Unlike the spot market, futures can provide exposure to a cryptoasset’s price without having to actually own the cryptoasset itself. With Kraken Pro, futures traders can place any collateral assets listed here, to trade any one of the 95+ perpetual futures we offer. 

   Depending on the asset and amount traded, different leverage levels apply, which enables more capital-efficient trading. You can find our futures’ margin schedule here. With up to 50x leverage, you can enter into a position with just 2% (1/50) of the contract’s actual value (also known as its notional value).

3. How do I get started with futures in Kraken Pro?

   You can either sign-up via the competition page in Kraken Pro, or, follow these steps to get started: 

    

   1. Check your eligibility
   2. Make sure you are verified to Intermediate or Pro
   3. Create a Kraken Pro account or sign in
   4. Visit the  Kraken Pro competition page to accept the Futures Terms & Conditions and register to participate.
   5. That’s it! You’ll get a $10 USD bonus to start trading futures right away. You can also  add your own funds into your Futures wallet (follow instructions for Kraken Pro)

4. Who is eligible to participate in Market Masters 2023?

   You are eligible to participate in this competition if:

   • You are in an eligible country
   • Your Kraken account is verified to either Intermediate or Pro

5. What are the rules of Market Masters 2023?

   • Only one trading  account is allowed per person or entity
   • Participants can only receive the $10 USD collateral bonus once
   • Any trading activity in sub accounts will be ignored for the competition
   • Kraken reserves the right to disqualify participants who abuse the competition’s rules

    

   Read Kraken’s terms and conditions for all competition rules.

6. How do I claim $10 bonus as collateral?

   The $10 USD bonus will be automatically deposited in your futures trading wallet upon registration. This will appear as ‘Bonus USD’ collateral in your Futures Wallet. You can use this collateral immediately to enter into a new position. The $10 cannot be transferred out of your Futures Wallet. Kraken will reclaim the $10 USD bonus from non-trading (idle) participants at the end of the competition.

    

7. Can I use my own funds to trade in Market Masters 2023?

   Yes. While all participating traders will receive their $10 USD bonus upon registration, they may also trade with their own capital at any time during the competition. Winners are determined by PnL% rather than total notional profits, so traders only using the $10 USD bonus can still win.

8. What happens to my positions at the end of the competition? 

   All positions opened during the competition will remain open after it ends.

9. More information

   Read more about Kraken Futures in our Support Center article What are futures & other frequently asked questions.

   Learn the basics of trading futures in our Learn Center article What are crypto futures contracts?

   For our full collection of Kraken Futures documentation, see our Support Center section for Kraken Futures.