Kraken adds S&P 500 to funded trading program, commodities to follow

US-based crypto exchange Kraken has added an S&P 500 perpetual product to its proprietary trading program, giving funded traders round-the-clock exposure to the US equity benchmark.According to a company blog post on Wednesday, the product is structured as a perpetual priced off an index oracle tracking the S&P 500, rather than a standardized futures contract, meaning it has no expiration date or rollover requirement.The S&P 500 joins the Nasdaq 100 as the second traditional market available through Kraken Prop, with the company planning to add commodities as part of a broader multi-asset rollout. Traders can access the S&P 500 market across Kraken Prop’s evaluation and funded accounts with up to 5x leverage and a maximum notional exposure of $1 million, according to the company.Kraken Prop allows traders to purchase an evaluation and, if they meet the program’s requirements, qualify to trade with Kraken capital. Evaluation plans start at $20, with funded account sizes ranging from $5,000 to $200,000.The launch follows Kraken’s move in July to offer retail investors access to Jersey Mike’s initial public offering through direct share allocations in the US and tokeni...