Pi Network Makes Derivatives Debut as Kraken Lists PI Perpetual Futures

Kraken has launched perpetual futures contracts for Pi Network’s native token, PI, allowing traders to take long or short positions with up to 20x leverage. 

The move gives traders a new way to speculate on PI’s price without holding the asset itself. It also marks PI’s debut on a major derivatives platform, despite the token still lacking listings on top spot exchanges like Binance or Coinbase.

How PI Perpetual Futures on Kraken Will Work

Perpetual futures are derivative contracts with no expiration date. Traders can open positions that track the price of PI and settle profits or losses based on price movements over time. 

On Kraken Pro, users can access these contracts with over 40 collateral options and across more than 360 markets.

This flexibility allows both hedging and speculative strategies. Traders bullish on Pi Network can go long, while skeptics can short the token—betting that its price will fall. 

$PI @PiCoreTeam perpetual futures now live with up to 20x leverage Why choose Kraken Pro futures: 40+ collateral options 360+ marketsOpen PI perp https://t.co/NHHpKobugb*geo restrictions apply pic.twitter.com/aiJrJRbxW4

— Kraken Pro (@krakenpro) May 23, 2025

With 20x leverage, small price swings can lead to outsized gains or losses.

Meanwhile, after a brief rally to $1.57 earlier this month, PI has dropped 10% this week. Despite the ongoing bullish cycle in the market, the altcoin has shown extreme volatility and underperformed expectations. 

Will Futures Trading Impact PI Network Price?

The listing introduces more liquidity into the PI market. Greater trading activity could reduce volatility in the long term. However, in the short term, leverage may amplify price swings.

Market sentiment around PI is already fragile. Concerns over centralization—60% of the token supply remains under core team control.

Also, as BeInCrypto reported previously, a high concentration of nodes in Vietnam has triggered doubts about the project’s stability. Vietnam’s tightening crypto laws add further pressure.

With futures now in play, bearish traders may open leveraged shorts, potentially accelerating PI’s downward momentum. 

Meanwhile, increased volatility could trigger liquidations on both sides, causing sudden price spikes or crashes.

While the futures listing opens new opportunities, it also raises the stakes. Traders should monitor funding rates and open interest to gauge the strength of directional bets.

Overall, Kraken’s move brings new visibility to Pi Network. But for now, there is a lot of skepticism regarding the altcoin’s direction in the spot market.