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Magyar28 Oct 2026
Kraken will retire 176 native trading pairs, including BTC/DAI, ETH/JPY and SHIB/USDT, and replace them with synthetic markets routed through USD order books. Affected markets go cancel-only on Nov. 6 at 14:00 UTC, open orders will be canceled, and the new markets charge taker fees on every fill, ending maker pricing on those pairs.
Exchanges TradeReviewed News Desk
Kraken is overhauling how a large part of its spot market works. According to CryptoSlate, the exchange said in an Oct. 27 notice that it will replace 176 native trading pairs with synthetic markets, which means every open order on those pairs will be canceled and traders will have to place new ones.
Kraken timeline: cancel-only from Nov. 6
The affected markets enter cancel-only mode on Nov. 6 at 14:00 UTC, so no new orders can be submitted from that point. Existing orders will be canceled and the native markets removed between Nov. 6 and Nov. 9. Kraken plans to have the replacement synthetic markets live by the end of Nov. 9, but open orders will not carry over.
Pairs named in the change include BTC/DAI, ETH/JPY, AAVE/BTC, ADA/AUD and SHIB/USDT. Kraken said the underlying coins stay listed, and customer balances and margin pairs are not affected.
How Kraken synthetic pairs work
Instead of a dedicated order book for each pair, a synthetic trade is routed through two underlying markets that share a common currency, usually the US dollar, and both legs are executed at the same time in Kraken’s matching engine. A swap from SOL to DOGE, for example, can run through SOL/USD and DOGE/USD and is booked as one trade with one consolidated fee. Kraken Pro already offers more than 10,000 synthetic pairs, and the 176 markets will join that system.
The catch: no maker fees, no post-only
The biggest change is cost. On a normal order book a resting limit order can earn maker pricing. On Kraken’s synthetic markets every transaction pays the taker fee, limit orders included. Synthetic limit orders only execute when the underlying markets have enough liquidity at the chosen price or better. Partial fills, post-only orders and time-in-force settings are also not available.
Kraken argues that synthetic pairs can offer tighter spreads than thin native books, because they draw on the deeper USD markets, and that one taker fee is cheaper than paying for two manual trades.
What it means for traders
If you have resting orders on any of the affected pairs, expect them to be canceled from Nov. 6 and plan to re-enter after Nov. 9. Market makers and anyone running post-only or grid strategies on these crosses lose maker rebates and partial fills, so it is worth checking whether the same exposure is cheaper through USD or USDT pairs, or on another venue. You can compare maker and taker fees across platforms in our crypto exchange comparison, and see how our top picks BingX (#1) and OKX (#2) handle order types and fees. Our testing method explains how we score them.
This article is for information only and is not financial advice.
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