Kraken Pre-IPO Perps: OURAx At $48.90, Above Oura's $44 Range

Kraken pre-IPO perps on Oura last traded at $48.90 at 05:50 UTC on October 7, 2026. That sits 11.1% above the top of the $40 to $44 range Oura set before it postponed its offering on September 29. Kraken's Pre-IPO Challenge post from October 6 puts a $10,000 USDG prize pool behind the OURAx and MOONSHOTx contracts. Kraken's own ticker feed shows both contracts turned over about $31,400 in 24 hours.

How the Kraken pre-IPO perps contest pays

Entries run for a month, from October 6 to November 6, 2026. Rankings come from combined volume on the two perps, and traders below $10,000 never appear on the leaderboard. Top prize is $1,500, with $800 and $600 behind it. Positions can use up to 10x leverage, and anything opened before enrolling does not count.

Kraken says the contracts are derivatives that give price exposure only. They carry no ownership of Oura or MOONSHOT shares and no IPO allocation. The promotion excludes the US, UK, EEA, Canada, Australia and New Zealand.

The contracts themselves are a week older than the contest. Kraken's instrument list shows both PF_OURAXUSD and PF_MOONSHOTXUSD opening on October 1, 2026, within two minutes of each other. Margin starts at 10% on small positions and rises to 50% on the largest tier.

Kraken's announcement post, dated October 6, 2026.

Oura's offer stopped at $40 to $44

Oura's amended S-1 on SEC EDGAR, filed September 21, estimated a price of $40 to $44 for 50 million shares. It also named a Nasdaq listing under the symbol OURA. CNBC reported on September 29 that Oura had delayed the deal despite "strong demand". CEO Tom Hale said the company has "the luxury of choosing our moment."

EDGAR's filing list for Oura Inc. ends with a September 24 free writing prospectus, and no withdrawal request appears in it. That post still calls both IPOs "anticipated." Neither has a public share price, so the perp is the only live quote.

CNBC adds that Oura formally launched its IPO plans on September 21 and aimed to raise up to $2.2 billion. The company says it is profitable and expects revenue to grow 90% in fiscal 2026. Those are Oura's own statements, and the perp's price has to be read against them.

OURAx trades near $49 on a thin book

Kraken Futures' public ticker lists OURAx at $48.90, with a mark price of $49.005. Over the last 24 hours it moved between $48.47 and $49.25. Turnover was $23,088, and open interest stood at 73.3 contracts, worth roughly $3,600.

MOONSHOTx is thinner. It last traded at $67.08 and turned over $8,274, with open interest of 0.9 contracts, or around $60. The instrument data caps each contract at $10 million of open interest. Neither one is near that.

Kraken Futures ticker responses for both perps, stamped 06:01 UTC on October 7.

Size matters for Kraken pre-IPO perps when a contest is the main draw. A trader needing $10,000 of volume to qualify would supply about 32% of what both contracts handled in the past day. Kraken's earlier Anthropic Pre-IPO Challenge offered $20,000, and its ANTHROPICx perp turned over about $396,000 in the same window. OURAx did under 6% of that.

Our report on Ondo's private-market tokens covers another route to exposure on unlisted companies. Quotes here are a morning snapshot of thin contracts, and Kraken warns that leveraged positions can lose more than the amount put in.