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ProPerpsPre Ipo Stock Perpetuals

Pre-IPO perpetuals

Get in early and beat the crowd

Long or short private companies before they go public, with up to 10x leverage, 24/7.
Pre-IPO perps on Kraken Pro

Disponível em

$2T+
Volume total de transações
Mais de 190
Países suportados
Mais de 13 milhões
Utilizadores registados
Mais de 15 anos
Em atividade desde 2011

Pre-IPO companies, now as perpetuals

Trade pre-IPO companies like OpenAI and Anthropic before they list.

Get exposure to private companies

Pre-IPO names have no public shares and limited access. We’ve changed that.
Pre-IPO perps

Long the conviction, short the hype

Express a bullish or bearish view on pre-IPO markets with leveraged perpetuals.
Graph showing stock price trends with 'Short' and 'Long' labels before the listing

A defined reference price

Because there's no public market, the perpetual tracks a defined reference methodology rather than a live share price.
Image representing factors combined make a reference price

Trade the narrative

Funding rounds, valuations, and IPO rumors don’t take weekends off. Trade 24/7, not only at a listing that may be months away.
Abstract green and black geometric design with circular elements.

How it works on Kraken Pro

Four simple steps from funding one account to managing an open pre-IPO position.

1.

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

2.

Pick a pre-IPO name
Choose a private-company perpetual and set your direction, long or short.

3.

Size with leverage
Apply leverage within your limits, set your entry, and place protective orders to help manage your risk.

4.

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

Pre-IPO perps FAQs

On Kraken Pro. Trade pre-IPO companies as perpetuals, long or short, with up to 10x leverage and 24/7. You don't hold equity, you take a leveraged position on a defined reference price.
It tracks a defined reference/valuation methodology rather than a live share price.
No. There are no public shares to own. A pre-IPO perpetual is a leveraged derivative on a reference price.
Up to 10x. Pre-IPO valuations can be opaque, volatile and illiquid. Remember leverage magnifies both directions and most retail derivatives accounts lose money.
Available to eligible Kraken Pro clients where offered. Geo restrictions apply.

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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.



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×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.