HyperPNL vs Kraken Prop rules, prices and codes side by side

Prices updated Nov 11

HyperPNL
Cayman Islands
From
$42
Challenges
6
Accounts
$5K to $25K
Buy
Kraken Prop
British Virgin Islands · Founded May 2026
From
$20
Challenges
18
Accounts
$5K to $200K
Buy

Where they differ

Cheapest challenge: HyperPNL$42 ($5K 1-Step Flex); Kraken Prop$20 ($5K Advanced)
Daily loss limit: HyperPNL3% to 5%; Kraken Prop3%, or none on some
Maximum loss: HyperPNL5% to 9% static; Kraken Prop3% to 6% static or trailing
Bitcoin leverage: HyperPNL5x; Kraken Prop10x
Account sizes: HyperPNL$5K to $25K; Kraken Prop$5K to $200K
Sizes only this firm sells: HyperPNLNone; Kraken Prop$50K, $100K, $200K
Steps: HyperPNL1-step and 2-step; Kraken Prop1-step
Challenges: HyperPNL6; Kraken Prop18
US traders: HyperPNLNo; Kraken PropYes
Country: HyperPNLCayman Islands; Kraken PropBritish Virgin Islands

Every rule, side by side

Rule	HyperPNL	Kraken Prop
The firm
Country	Cayman Islands	British Virgin Islands
Founded	Not stated	May 2026
Years in operation	Not stated	Under 1
Platforms	HyperPNL web platform	Kraken Pro
Trades on	own simulated engine, Hyperliquid order book and prices, Ostium prices for some non-crypto markets	Kraken Pro (web and mobile app), on a simulated Prop account
Markets	Crypto, stock, ETF, index, commodity and FX	Crypto, index and commodity
Some trades on-chain	No	No
Rules
Model	1-step or 2-step evaluation	1-step evaluation (Starter, Intermediate or Advanced; Lite on $50,000)
Account sizes	$5K, $10K, $25K	$5K, $10K, $25K, $50K, $100K, $200K
Profit target	10% (1-step); 10% phase 1 / 5% phase 2 (2-step)	10% (Starter) / 12% (Intermediate) / 9% (Advanced) / 6% (Lite)
Daily loss limit	3% (1-step) / 5% (2-step), recalculated daily at 00:00 UTC from equity	3% of the balance at 00:30 UTC, checked against equity (Starter, Intermediate, Advanced); none on Lite
Maximum drawdown	5% static (1-step); 9% static (2-step)	6% (Starter) / 5% (Intermediate) / 3% (Advanced), static from the starting balance; $1,500 trailing the highest closed balance on Lite
Max leverage	Up to 5x on crypto, 3x on stocks and ETFs, 5x on indices, 10x on commodities and 25x on FX (set per market in its trading app; its docs' asset table lists higher maximums)	Up to 10x on BTC, the Nasdaq 100 and the S&P 500 (its August 18, 2026 update; its September guide still says 5x on BTC and ETH, 2x on other crypto), 5x on SOL and 3x on HYPE; up to 40x on the Nasdaq 100 and S&P 500 on Lite; commodities 5x on gold, silver, WTI and Brent oil, 10x on copper and 3x on natural gas (its commodities table; the same page's FAQ says up to 5x on every commodity)
Profit split	80%	80%; 90% with an add-on bought at purchase for 20% of the plan price
Payouts	One payout request per day, with no open positions, of at least 1% of the account size; executed by smart contract in USDC	On request with no open positions or orders; reviewed within 24 hours (typically 12) and paid in USD or USDG to the trader's Kraken account; $50 minimum on Lite
Starting price	from $42 for a $5,000 account (1-step); 2-step from $50	from $20 for a $5,000 account (Advanced)
Minimum days	None (1-step); 0.5%+ profit on 2 days in phase 1 and 3 in phase 2 (2-step)	None
Consistency rule	None	None
US traders	No (on its restricted list)	Yes (crypto only for US clients; not offered in Canada or India)
Fee refund	No	No
News trading	Allowed	Allowed (its Prop page sets no restriction on trading strategy)
Weekend holding	Allowed	Allowed (margin funding of 0.033% a day applies; 0.013% a day on XYZ100 and SP500 on Lite)
Current offer	None now	None now
Rules checked	November 9, 2026	November 10, 2026

HyperPNL: source 1 source 2 source 3 source 4 source 5 source 6Kraken Prop: source 1 source 2 source 3 source 4 source 5 source 6 source 7 source 8 source 9

Prices at each account size

Account	HyperPNL	Kraken Prop
Sizes both sell
$5K	$421-Step Flex2 challenges at this size	$20Advanced3 challenges at this size
$10K	$861-Step Flex2 challenges at this size	$40Advanced3 challenges at this size
$25K	$2132-Step Flex2 challenges at this size	$95Advanced3 challenges at this size
Sizes only one sells
$50K	Not sold	$139Lite4 challenges at this size
$100K	Not sold	$330Advanced3 challenges at this size
$200K	Not sold	$660Advanced2 challenges at this size

Every HyperPNL challenge Every Kraken Prop challenge Every firm's challenges

Current offers

HyperPNL

No code seen in the last seven days.

Buy

Kraken Prop

No code seen in the last seven days.

Buy

What each daily limit means on Bitcoin

How far Bitcoin has to move against a position at each firm's full leverage to use up the daily loss limit, and how often it has in the last 29 days.

Firm and program	Bitcoin cap	Daily limit	Move that uses it up	Days Bitcoin moved that far
HyperPNL · 1-step	5x	3%	0.6%	26 of 29
HyperPNL · 2-step	5x	5%	1%	18 of 29
Kraken Prop · Starter, Intermediate and Advanced	10x	3%	0.3%	29 of 29

Recent rule changes

HyperPNL

Aug 20Markets
Added the DAX, FTSE 100, Nikkei 225 and Hang Seng indices and the Micron and Lumentum stocks.
Post on X
Aug 12Program
Added 1-Step accounts, a one-phase challenge its homepage lists with a 10% target, a 3% daily loss limit and a 5% static drawdown; it had sold only a two-phase challenge.
Post on X Archived May 11, 2026
Aug 7Markets
Added 11 stock, ETF and thematic markets: NBIS, CBRS, INTC, SAMSUNG, CXMT, REMX, HYG, TLT, UNG, URA and XLE.
Post on X
Aug 5Other
Removed the 30-day time limit on each challenge phase; its new Flex accounts have no time limit.
Post on X Post on X

All 7 HyperPNL changes