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[137.22.227.30]) by mx.google.com with ESMTPS id 956f58d0204a3-65d96c0189esi4922796d50.143.2026.05.09.15.06.23 for (version=TLS1_2 cipher=ECDHE-ECDSA-AES128-GCM-SHA256 bits=128/128); Sat, 09 May 2026 15:06:24 -0700 (PDT) Received-SPF: pass (google.com: domain of msprvs1=20589n_6ozew0=bounces-266693-571@email.kraken.com designates 137.22.227.30 as permitted sender) client-ip=137.22.227.30; Authentication-Results: mx.google.com; dkim=pass header.i=@email.kraken.com header.s=scph0522 header.b=Qe8S1Fli; spf=pass (google.com: domain of msprvs1=20589n_6ozew0=bounces-266693-571@email.kraken.com designates 137.22.227.30 as permitted sender) smtp.mailfrom="msprvs1=20589N_6OZeW0=bounces-266693-571@email.kraken.com"; dmarc=pass (p=REJECT sp=REJECT dis=NONE) header.from=email.kraken.com Return-Path: X-MSFBL: 40Uv6LcGZ2k5kH8KkVf5N0Z2K4qvwyn2d6IDl48QKik=|eyJtZXNzYWdlX2lkIjo iNjlmZGRlYWZmZjY5ZmU2NzUyODIiLCJ0ZW5hbnRfaWQiOiJzcGMiLCJzdWJhY2N vdW50X2lkIjoiNTcxIiwiciI6InRqcGh1aHNAZ21haWwuY29tIiwiY3VzdG9tZXJ faWQiOiIyNjY2OTMifQ== DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=email.kraken.com; s=scph0522; t=1778364382; i=@email.kraken.com; bh=y72IFoGHELHKELtPD53aSaVa+/gGZp4KhM+74NbvaVU=; h=From:Message-ID:List-Unsubscribe:List-Unsubscribe-Post:To:Date: Content-Type:Subject:From:To:Cc:Subject; b=Qe8S1FliqIeDm58EnbVAERQ8doQwIws+haRt9J0miFSCVEWNEeOqzUIiT5LVL5ILd C1wEObDqr3auKmHHabRDjdd/XD0R/MJhdefeyGgPRnEvobHjdwG6ku6a6FFkcdTrxo bughgQJF+H0i5vnXd3ZZ40vLLkF6vcjB7FF4GayM= Received: from [10.90.8.144] ([10.90.8.144]) by i-043224e4cc422583f.mta1vrest.sd.prd.sparkpost (ecelerity 5.2.0.75738 r(msys-ecelerity:tags/5.2.0.21)) with REST id 28/25-23395-EDFAFF96; Sat, 09 May 2026 22:06:22 +0000 From: "Kraken" Message-ID: <28.25.23395.EDFAFF96@i-043224e4cc422583f.mta1vrest.sd.prd.sparkpost> List-Unsubscribe: , List-Unsubscribe-Post: List-Unsubscribe=One-Click To: tjphuhs@gmail.com Date: Sat, 09 May 2026 22:06:22 +0000 Content-Type: multipart/alternative; boundary="_----UzWU0Lldj8uT0W3bGgyDPw===_D6/25-23395-EDFAFF96" MIME-Version: 1.0 Subject: What your first margin trade looks like Reply-To: noreply@marketing.kraken.com --_----UzWU0Lldj8uT0W3bGgyDPw===_D6/25-23395-EDFAFF96 Content-Transfer-Encoding: quoted-printable Content-Type: text/plain; charset="UTF-8" Trading fee. Borrowing cost. Margin health.=0A=0AKraken Pro logo =0A( https= ://link.kraken.com/f/a/2pa-fmX7NtKbMVEcf1XHUA~~/AAQRxRA~/XPzVtfz4RObtKdxfIi= dYaM-0sSmMb7a0m2D5WEmQ5HRwaHS_IAmu-zRdxL8OKNV9ZU_lBo37_oD5Nrp-8RMDel9qZy3Bt= 2SHBQb3ELplmfGY5TwTgU3S0bm-t2Wz7-0weClErtAMcxAZJft3AHl2zA~~ )=0A=0A********= *********************=0AKnow what=E2=80=99s important upfront=0A***********= ******************=0A=0AMake your first margin trade on your terms.=0A=0ASe= e what it costs =0A( https://link.kraken.com/f/a/CwvZ2gS7-CTkVGtAZhC1RQ~~/= AAQRxRA~/dpLxDqHGCHXG-O-2EFmvD4uB6EoxD4fvqXktrcXjUsaZtHYDM3cVrivhlXUaCH6c2o= -1Zf7_2miaKdrafsEfEquSTV6p9KUtX0aEJ_0SwF7X_ocju9u49-Gy04Jp6TYwlcdnyOHt8LINY= exgDVc1hQ~~ )=0ANothing hidden. Ever. =0A( https://link.kraken.com/f/a/a7su= jGF_g-Rx50StbVwYFA~~/AAQRxRA~/dpLxDqHGCHXG-O-2EFmvD4uB6EoxD4fvqXktrcXjUsaZt= HYDM3cVrivhlXUaCH6c7K7qKtWdxll3Bk8e3s9mCmNZBK2sLHZap8qcDY6-SYEX2Er6SVY7AdEs= tPpsAOySrQU2faTq4H3KUzMQr1sHSw~~ )=0AYou've enabled margin. Here's what hap= pens next.=0A=0AYour first margin trade on Kraken Pro puts you in full cont= rol.=0AOn any trade, you=E2=80=99ll see:=0A=0A=E2=9C=85 Exact cost=0ALocked= at entry, updated every 4 hours. No surprises.=0A=0A=E2=9C=85 Liquidation = price=0AWhere your position auto-closes. Set a stop-loss above or below=0Ai= t to manage your position and protect against liquidation.=0A=0A=E2=9C=85 M= argin health=0AThe distance between your position and liquidation. It moves= in=0Areal time so you always know where you stand.=0A=0ANothing is hidden.= Nothing changes after entry.=0A=0AStart small, go bigger when you're ready= , and adjust or exit at=0Aany point.=0A=0APreview a trade =0A( https://lin= k.kraken.com/f/a/ahpXu8oa95SKYLbtNdWS3g~~/AAQRxRA~/dpLxDqHGCHXG-O-2EFmvD4uB= 6EoxD4fvqXktrcXjUsaZtHYDM3cVrivhlXUaCH6cbNZ3lzckVlAYUCmr7t7nSEEwH37GwLejlpP= aTqOu9L6ha0Aiid5ynte20LWjokX8WsfMWRgAxbI434UoRYR9gQ~~ )=0ASign in =0A( http= s://link.kraken.com/f/a/gKUKS-DIAZCzqIRDak9x6Q~~/AAQRxRA~/XPzVtfz4RObtKdxfI= idYaM-0sSmMb7a0m2D5WEmQ5HRwaHS_IAmu-zRdxL8OKNV90D5BjPMH5MD45QEaSy1EeoVnzuA-= dkxOr-LCZ8-G1S2YhTBr_7c80zZLZ4kkQUC8Wxob7DghvyWcudO6lURPQw~~ ) =E2=80=A2=0A= Get support ( https://link.kraken.com/f/a/RXIJLniE3prCWLfbLxfUZw~~/AAQRxRA~= /VMsvroCOxuuoVUR51Q7m6yQ5LCeoTBa0FZ1QctOs6HGvOI9XwW3jnlLJwIokofeoWgCp01AWB_= SHf9be-xD2bs3GFyGIaZ20eGX8uvfpJqrsCTP4BXaLH3GkavChjjSqXWDlEZj8rmtbvMgUMmvge= Q~~ )=0A=0Akraken.com ( https://link.kraken.com/f/a/PWnlTkyqTd9gWs4GlXop6w~= ~/AAQRxRA~/1_SzkHsxP6XhOx8TtU16vgcD6mKaz14FZR9CdbX24LYT8irBjVb0hKOTNpfycuwb= rQT_4OqEaynfYBk6ZiZEPZ-bt8h73HuxOpqcuQ_gbYfCwqZW0qno7plIOc5_oiAt ) Kraken= =0Aon Facebook ( https://link.kraken.com/f/a/6xyLd0QxIB2GBJ6XB7lw1Q~~/AAQRx= RA~/vuyDWUlVHvaVNXhnbi0ZU5Hi_19R2MLa0YpsWW8uhAizXCy5NpQzxxXjZM145D55OnGbhYN= Or9lqmVCtAWHDq409bqKBCka8DDxwsHunFq45Wz-zA-bE-IPo1ZaGiC9Ar_mTOuM6eRlDfAEW_A= XTQg~~ ) Kraken on X (=0Ahttps://link.kraken.com/f/a/h2lOUdl4iUO-b2lnUIion= g~~/AAQRxRA~/it67MYbq1dFchSt0t8hX2XI9Y5iNJBbhQksGFFa2j30j9_JIDA1xs3hpUJEvNK= QUoKGqVGQJm68a32dGFQbloBFuQG6JIW91PWiZrqLqkSg~=0A) Kraken on Instagram =0A(= https://link.kraken.com/f/a/TML5Vw4qUO_sTF3zCgcgug~~/AAQRxRA~/_jEE9TldtvhA= MhE-TR4Cf1dnJWiVQ47F_gJuxDZnOfK6LXmt4n1IWqSHl_JB7h1yVode-3RocAAXNqDWg5bKNug= D8CJl8cnsU3sCuYI1bF-Jwg1AzrJyTleqd091QKVS7pbP9Qn482jRbb4jsWKplQ~~ ) Kraken= on=0ALinkedIn =0A( https://link.kraken.com/f/a/Ii8S5wl1qh0RbOdqf2hnYg~~/AA= QRxRA~/kplwmtIyiCmcYjZiu-5waCC5Qn55h5t8PjzGKQUF2zzVd-9DH1BlvQryBiSLRHtdkSa_= VPrEwkd6RBHrZo2X96s2HTLIcDtaXbajiwdO2wbhNFu_WiY59AjY2SDI1VytjC3xFSdfFrNNAtO= G1sc0GA~~ )=0AKraken on YouTube (=0Ahttps://link.kraken.com/f/a/AWvUyVTiBUf= rC84tz0Yotg~~/AAQRxRA~/ulWwPJfMI1dstCYN0EO4SL8UVcMs6EkGH_NhYB_NXVlDItT10NKP= c-yFWUScgWKVMnNBeNpn2lCJGv52EWfqbsDEkGBVkFWz_mCHxjW6T2dZZ-PKUZx9MQAghjsTE9g= PUqmtowImjhAoYMT1k7ltzA~~=0A) Spot margin trading involves substantial= risk and is not=0Asuitable for everyone. Losses may exceed the initial inv= estment,=0Aand additional collateral may be required. While leverage can=0A= increase potential returns, it also significantly increases risk.=0ALeverag= e available may vary by asset. Past performance is not=0Anecessarily indica= tive of future results. Availability of spot=0Amargin trading through Krake= n Derivatives US is subject to=0Acertain limitations and eligibility criter= ia. View Risk=0ADisclosure Statement =0A( https://link.kraken.com/f/a/CpPm0= aq7ozVINK6yHwcnkA~~/AAQRxRA~/klaIrT77Rq2dgPZkTRNEpiqRWe9HFZxiLwfu20tCZUFGly= EEuATvuUsAPVQmCK1g3qIUOIgoMxBmz6JaP9gCzto032n-s3L-RHbDShPKNg4c2t7FLVYfmlOdf= cPE_3_eF3w5eZLYLsSZLLwzrTt4vfW7Oj7e-3aV0iMDO_5SXj0~ )=0A.=0A=0ASpot margin = trading is provided by NinjaTrader Clearing, LLC=0Ad/b/a Kraken Derivatives= US, a CFTC-registered Futures Commission=0AMerchant and NFA Member (NFA ID= : 0309379), with financing=0Aprovided by Payward Accredited LLC. View Discl= osures =0A( https://link.kraken.com/f/a/jm6dH7Nt9H3igAyZfW0OJA~~/AAQRxRA~/u= lWwPJfMI1dstCYN0EO4SMUsx58kfwAF_l7RdbDW1aJB2WxW2wP3QnSf9ZQy7Ne_Hs1B8gJ9SGwV= VgMS_8SrLvAicoQLU3w_nnnfM9Eb_NCAZ0C77ENIKT7PJU7zgdkS0OUKfyXHcY4f0gdhPymWfQ~= ~ ).=0A=0APayward Logo ( https://link.kraken.com/f/a/Ga60Vq2dASrodLxpGtEw-A= ~~/AAQRxRA~/OUPCgfr9DAOEtE0EhUNzFtM8E2s_83sqTw2pXkf_1BqLNUdl1MCpwf54uVFEUFQ= kMm1eLr2Yr2_awGN3hs3cNRhBoex1r-2kyGm5tPL5A-nZoaQNDiBjqYhBQv50o6C1 )=0A =C2= =A9 Payward Interactive, Inc.=0A2026=0A=0A=0A Terms of Service =0A( https:/= /link.kraken.com/f/a/lpGjHqnekNv6qgZjlAfgPw~~/AAQRxRA~/KsYOmbeBJvIxeQOhslNX= kae3OaJa1t1HAqQL2ii6bVz9aWakBHpKti_YggJqM3XucuFtAZ7DkweNt7BJP98wBlU4K4sGSta= FtaBcczT03tg5_dWO5yKOesA_ZadGQ94nRktj942mBAxptTObE-NG2w~~ ) =E2=80=A2 Discl= osures =0A( https://link.kraken.com/f/a/Gl_RLvicJYkEupD_6ec0Gg~~/AAQRxRA~/X= PzVtfz4RObtKdxfIidYaHQxDIpX9sGEDoZT4z04TLlkfGU_ypGyLSznW_Q-uFfL-DjOJLIIV-II= _JWAkAwomel15Whq88CDDtJogw0X_ZM7XIv7r9hF0BRmMC-OvW-mpnBeXg80NUQF-NI5EdRl9w~= ~ ) =E2=80=A2=0APrivacy Notice =0A( https://link.kraken.com/f/a/gNlG-yIMcZT= l9A8_NSctNQ~~/AAQRxRA~/YuC16lY_HnMcAtWU9zoARYXGIePKAPCQiWHqaQVLWWjtK3nSletA= fNjlH_THtNCMT9RKkZZAzFvv0TSYeSoSq4aGisQWKJla-k96FuLQ0PwbAWB-toTucYZnd-tcRGC= 10CsiPJ2Fz7QQD7NHoYviQw~~ ) =E2=80=A2=0AUnsubscribe =0A( https://link.krake= n.com/f/a/mnyujGP_HtQbgSrOon1KGQ~~/AAQRxRA~/s9Yy20tD7MbuCJ8OZ_RZ4Dod-aSXBTP= C_RCdcRNXGVEIAtZYy_2YiR__H_DHjWxxm7CYcqJtuUqv5Dobx6u6Drg1cj_ec6Gjt1frEJhke6= efhmfgg0HY4P-zT_m8AoklP8-GFIESSJehnNHT8LZGKewpeqj4DMnUXshxxLOwEQs~ )=0A --_----UzWU0Lldj8uT0W3bGgyDPw===_D6/25-23395-EDFAFF96 Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="UTF-8" =0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A
Trading = fee. Borrowing cost. Margin health.
=0A
=0A
<= table class=3D"paragraph_block block-1" width=3D"100%" border=3D"0" cellpad= ding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspac= e:0;mso-table-rspace:0;word-break:break-word">
=0A

=0A=0A

=0A=0A<= tbody>=0A
3D"Kraken
=0A<= tr><= /tbody>
=0A=0A

Know what=E2=80=99s important upfront

Make your first margin trade on your terms.

=0A
=0A= See what it co= sts=0A
=0A
3D"Nothing
=0A
=0A
=E2=80=8A
=0A<= table class=3D"row row-5" align=3D"center" width=3D"100%" border=3D"0" cell= padding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-ls= pace:0;mso-table-rspace:0">
=0A
=0A

You've e= nabled margin. Here's what happens next.

=0A

=0AYour first margin trade on Kraken Pro puts you in full&= nbsp;control. On any trade, you=E2=80=99ll see:

=0A

=E2=9C=85 Exact cost
<= /strong> Locked at entry, updated every 4 hours. No surprises.

=0A

=E2=9C=85 Liquidation price
Where your position auto-closes. Set a stop-loss = above or below it to manage your position and protect against liquidation.<= /p>=0A

=E2=9C=85 Margin hea= lth
The distance between your position and liq= uidation. It moves in real time so you always know where you stand.

=0A<= p style=3D"margin:0;margin-bottom:16px">Nothing is hidden. Nothing changes = after entry.

=0A

Start small, go bigger when you're= ready, and adjust or exit at any point.

=0A
=0A<= div class=3D"spacer_block block-2" style=3D"height:24px;line-height:24px;fo= nt-size:1px">=0A=E2=80=8A=0A
=0APreview a trade=0A
=0A
=0A
=0A
=E2=80=8A
= =0A
=E2=80=8A
=0A=0A=0A=0A
=E2=80=8A
=0A

=0ASign in  =E2=80=A2  Get support

=0A=0A=0A=0A=0A=0A=0A
=0A3D"kraken.com"=0A3D"Kraken3D"Kraken=0A3D"Kraken=0A3D"Krak=
=0A
=E2=80=8A=0A
=
=0A

=0ASpot margin trading involves substantial risk and is not suitable for= everyone. Losses may exceed the initial investment, and additional collate= ral may be required. While leverage can increase potential returns, it also= significantly increases risk. Leverage available may vary by asset. Past p= erformance is not necessarily indicative of future results. Availability of= spot margin trading through Kraken Derivatives US is subject to certain li= mitations and eligibility criteria. View Risk Disclosure Statement= .=0A

=0A


Spot margin trading is pr= ovided by NinjaTrader Clearing, LLC d/b/a Kraken Derivatives US, a CFTC-reg= istered Futures Commission Merchant and NFA Member (NFA ID: 0309379), with = financing provided by Payward Accredited LLC. View Disclosures.

=0A
=0A
=E2=80=8A
=0A<= /table>=0A
=E2=80=8A
=0A
3D=
=

=0A=C2=A9 Payward Interactive, Inc. 2026
=0A=0A

=0A
=0A

=0A

=0A =0A Terms=0A = of Service  =E2=80=A2 =0A Di= sclosures  =E2=80=A2 =0A Pri= vacy Notice  =E2=80=A2 =0A Unsubscribe=0A =0A

=0A
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=E2=80=8A
= =0A=0A=0A=0D=0A3D""=0D=0A=0A --_----UzWU0Lldj8uT0W3bGgyDPw===_D6/25-23395-EDFAFF96--