Kraken Pro Launches Futures Competition on Oura and Moonshot Ahead of IPOs

Why Synthetic Futures Appeal to Crypto Traders

Kraken Pro, the advanced trading arm of the cryptocurrency exchange, has opened a new competition that lets traders speculate on the future value of two private‑company stocks—Oura and Moonshot—through perpetual futures contracts. The event, which began on Monday, offers participants exposure to the companies’ projected share prices without granting actual equity or IPO allocations.

The initiative follows a growing trend among crypto platforms to provide synthetic exposure to traditional assets. By using perpetual futures, Kraken allows traders to go long or short on Oura and Moonshot, potentially capitalizing on the anticipated growth that will accompany their forthcoming public listings. Participants can trade the contracts on Kraken’s Pro interface, which supports advanced order types and real‑time market data.

How the Competition Is Structured

Crypto traders are accustomed to high leverage and volatility. The new contracts give them a way to bet on the likely success of private companies without needing to purchase shares directly. This approach also sidesteps regulatory hurdles that would arise from offering real equity. By providing a purely financial instrument, Kraken can cater to a broad audience while keeping compliance straightforward.

The contracts are structured to mirror the underlying companies’ share prices, with funding rates adjusted to keep the futures price close to the spot market. Traders can earn or lose based on the performance of Oura and Moonshot as they approach their initial public offerings. The competition includes a leaderboard, leader‑board bonuses, and a prize pool that rewards the highest‑performing traders.

What Happens After the Competition Ends?

Kraken Pro’s competition runs for 30 days, starting on Monday, 12 October. Participants can place orders for Oura perpetual futures (OURA‑PERP) and Moonshot perpetual futures (MOON‑PERP) across multiple tiers of leverage, up to 50×. The platform calculates funding payments every eight hours, ensuring that long and short positions remain balanced. The leaderboard updates in real time, and the top 10 traders receive a share of the prize pool, which is funded by the exchange.

Kraken’s team highlighted that the competition is designed to educate traders about the mechanics of synthetic exposure and to showcase the platform’s advanced tools. „We want to give our users a taste of how the market reacts to real‑world events, even when those events are still in the private‑company stage,” said a Kraken spokesperson. „The perpetual futures give them a way to engage with these companies without the need for a direct equity purchase.”

# What is a perpetual futures contract?

Once the competition concludes, the contracts will continue to trade on Kraken Pro, but the prize pool will be closed. Traders who held positions will see their gains or losses settled based on the final price of the contracts relative to the companies’ projected IPO valuations. The platform plans to monitor the market impact of the IPOs and may adjust the contract terms for future events.

# Do I need to own Oura or Moonshot shares to trade these contracts?

Kraken’s move positions it as a bridge between the crypto world and traditional investment opportunities. By offering synthetic exposure to private companies, the exchange taps into a new segment of traders who seek to diversify beyond digital assets. The success of this competition could prompt other crypto platforms to adopt similar models, potentially reshaping how investors interact with upcoming IPOs.

A perpetual futures contract is a derivative that allows traders to speculate on the price of an asset without an expiry date. The contract’s value is continuously adjusted by funding payments between long and short positions.

# How are the prizes distributed?

No. The contracts provide price exposure only. They do not confer ownership or voting rights in the underlying companies.

The prize pool is divided among the top 10 traders on the leaderboard at the end of the competition. The exact distribution is announced by Kraken Pro before the competition starts.