Kraken Prop has added the S&P 500 as a 24/7 perpetual contract to its funded trading program, giving evaluated traders access to up to $200,000 in firm capital with 5x leverage. The move brings a major equity index into the prop firm's lineup, which has so far focused on crypto. Commodities are next on the roadmap.
A 24/7 S&P 500
The S&P 500 perpetual contract trades around the clock, seven days a week. That's a sharp break from traditional index futures, which close for a daily break and over weekends. For traders, it means they can open or close positions at any hour, without waiting for a market open.
Perpetual contracts have no expiration date. Positions can be held indefinitely, with funding payments exchanged periodically between long and short traders. The structure is a staple of crypto derivatives, but applying it to a stock index is a notable step for the prop trading space.
Capital and leverage terms
Evaluated traders who pass the firm's assessment can trade with up to $200,000 in firm capital. The leverage is fixed at 5x, meaning a trader can control a position worth five times their allocated capital. That's a more conservative setup than the high leverage often seen in crypto perpetuals, but it still amplifies both gains and losses.
The S&P 500 is a widely followed benchmark for U.S. equities, and adding it to a funded program gives traders a way to speculate on the broader market without putting up their own money. The contract is now available to those who have completed the evaluation process.
Commodities on the roadmap
Kraken Prop has said commodities are next on the roadmap for its funded trading program. The firm hasn't specified which commodities or a timeline, but the addition of the S&P 500 suggests a broader push into traditional asset classes beyond crypto.
For traders, the expansion means more markets to apply for funding. The S&P 500 contract is live now, and the roadmap points to further additions down the line.
The firm has not announced a date for the commodities rollout.
