Kraken Prop adds S&P 500 perpetual, plans commodities

Kraken has added an S&P 500 perpetual product to its Kraken Prop funded trading program, giving evaluation and funded traders round‑the‑clock exposure to the US equity benchmark. The exchange announced the launch in a blog post on Wednesday and noted commodities will follow as part of a multi‑asset rollout.

The product is structured as a perpetual contract priced from an index oracle that tracks the S&P 500 rather than as a standardized futures contract. That structure means the instrument has no expiration date and does not require periodic rollovers.

The S&P 500 is the second traditional market available through Kraken Prop, joining the Nasdaq 100. Traders can access the S&P 500 market across both evaluation and funded accounts with up to 5x leverage and a maximum notional exposure of $1 million.

Kraken Prop offers a staged path for traders: participants purchase an evaluation plan and, if they meet the program’s requirements, qualify to trade with Kraken capital. Evaluation plans start at $20. Funded account sizes range from $5,000 to $200,000. The perpetual S&P 500 product will be available to traders who pass the evaluation and to those already trading funded accounts.

The blog post described the perpetual design as a way to provide continuous exposure to the index without the administrative steps associated with rolling futures contracts. Using an index oracle ties settlement to the tracked benchmark rather than to contract expirations.

The launch follows Kraken’s recent expansion into traditional finance offerings. In July the exchange offered retail investors access to Jersey Mike’s initial public offering through direct share allocations in the US and tokenized shares in more than 110 countries.