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How to Report Your Kraken Futures Taxes

Coinpanda integrates directly with Kraken Futures to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Kraken Futures quickly.

API Import
CSV File Upload
Connect to Kraken Futures

Supported transactions

To calculate your taxes accurately, you must import all transactions from Kraken Futures to Coinpanda. Coinpanda supports the following transactions from Kraken Futures today:

Tx TypeAPI importCSV file upload
DepositsXmark solid redCheck solid green
WithdrawalsXmark solid redCheck solid green
Realized PnLCheck solid greenCheck solid green
Trading FeesCheck solid greenCheck solid green
Funding CostsXmark solid redCheck solid green

How to connect Kraken Futures with API

We are only requesting view permissions. This does not give us access to your private keys or the ability to move your funds.

Follow these steps to add your Kraken Futures account to Coinpanda with API:

  1. Go to the ‘Settings’ page by clicking the icon in the left sidebar
  2. Select the ‘API Keys’ tab
  3. Select ‘Read Only’ for General API
  4. Keep ‘No Access’ checked for Withdrawal API below
  5. Click ‘Create Key’
  6. Copy the Public Key and Private Key to Coinpanda

Deposits, withdrawals, and funding costs are not available from the API. You will need to upload a CSV file to import these transactions.

Realized PnL from API is imported for closed positions only. If you import transactions from a CSV file, Realized PnL will be imported for every fill such that the total number of transactions imported will be much higher.

Coinpanda will automatically aggregate all daily trading fees into a single transaction from the API. When importing transactions using CSV file upload, a separate fee for each fill will be imported to Coinpanda.

How to connect Kraken Futures with CSV

Follow these steps to export your transactions from Kraken Futures:

  1. Go to the ‘Trade History’ page by clicking the icon in the left sidebar.
  2. Click the ‘Download All’ button at the bottom
  3. Upload your CSV file to Coinpanda

How are Kraken Futures transactions taxed?

The exact tax implications on Kraken Futures transactions depend on which country you live in and the type of transactions you have made. In general, you must pay either capital gains tax or income tax on your cryptocurrency transactions on Kraken Futures.

  • Capital gains tax: Whenever you sell a cryptocurrency for more than you purchased it for, you generate a capital gain. On the other hand, if you sell the cryptocurrency for less than you paid initially, you have a capital loss, which can offset other gains in most cases.
  • Income tax: Earned cryptocurrency on Kraken Futures, such as staking, interest, bonuses, and referral rewards, is typically seen as taxable income from a tax perspective and must be reported in your tax return.

To learn more about how Kraken Futures transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.

How do I file my Kraken Futures taxes?

First, you must calculate capital gains and income from all taxable transactions on Kraken Futures. When you have this information ready, you can report capital gains and income together with other forms of income such as employment and dividends in your annual tax return.

To calculate your capital gains, you must first export a complete history of all transactions made on Kraken Futures. Once you have this data, you can calculate your capital gains or losses by determining the price at which you bought the cryptocurrency (your cost basis) and the price at which you sold it (your proceeds). Luckily, Coinpanda can help you with this and generate ready-to-file tax forms quickly and easily.

After downloading your Kraken Futures tax statements from Coinpanda, the last step is to report the capital gains and income on your tax return before the deadline. Most countries allow you to self-declare taxes online in 2023, but you can also get help from a professional tax accountant to file taxes for you.

Calculate your Kraken Futures taxes

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How do I troubleshoot the imported Kraken Futures transactions to Coinpanda?

While we strive every day to ensure the highest possible accuracy for importing transactions from Kraken Futures to Coinpanda, it can happen that either not all transactions are imported or that some data is imported incorrectly. Some reasons for this can be:

  • Changes in the Kraken Futures API
  • Updated CSV file format
  • Kraken Futures does not provide a complete record of all transactions

To get the best help from Coinpanda support, you must first identify which transactions are missing or incorrectly imported. To do this, we recommend comparing your transaction history on Kraken Futures with the transactions imported into your Coinpanda account. See also our help article with an overview of known exchange API limitations.

The quickest way to get help from our dedicated support team is to send a message in the Live Chat.

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Frequently asked questions

Does Kraken Futures provide tax documents?

No, Kraken Futures does not provide complete and ready-to-file tax documents. This is because Kraken Futures does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.

How do I get Kraken Futures tax documents?

The easiest way to get tax documents and reports is to connect your Kraken Futures account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Kraken Futures.

Does Kraken Futures provide financial or end-of-year statements?

No, Kraken Futures does not provide a complete financial or end-of-year statement for your crypto transactions. However, you can get this using a crypto tax calculator.

Do I have to pay taxes on Kraken Futures?

Yes, all transactions on Kraken Futures involving the disposal of a crypto asset are in most cases taxable. You must also pay income tax on earned crypto such as staking, interest, or referral rewards.

Is transferring to Kraken Futures taxable?

No, transferring cryptocurrency to Kraken Futures is not taxed as long as you transfer between your personal wallets or exchange accounts.

How do I avoid paying taxes on Kraken Futures?

It is impossible to avoid paying taxes completely on Kraken Futures legally if you live in a country that taxes cryptocurrency. However, there are several ways you can reduce your taxes, such as tax loss harvesting.

Can Kraken Futures calculate my taxes?

Kraken Futures cannot calculate your taxes since it does not have knowledge of your transactions made on other exchanges or platforms. However, if you have only interacted with crypto on Kraken Futures your entire life, it could technically do so.

Is Kraken Futures safe?

Kraken Futures is generally considered to be a safe exchange. Although Kraken Futures follows industry best practices for safety and to prevent malicious attacks, there is always a risk associated with keeping your crypto on centralized third-party exchanges including Kraken Futures.

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