Hedge a spot holding with a short futures position to lock in value.
PREREQUISITE: Load the following skills to execute this recipe:
kraken-spot-execution,kraken-futures-trading,kraken-futures-risk
Protect a spot BTC holding from downside by shorting an equivalent futures position.
CAUTION: This locks in current value but also caps upside. Futures margin requirements apply.
kraken balance -o json 2>/dev/nullkraken ticker BTCUSD -o json 2>/dev/nullkraken futures ticker PF_XBTUSD -o json 2>/dev/nullkraken futures accounts -o json 2>/dev/nullBTC_BAL=$(kraken balance -o json 2>/dev/null | jq -r '.XXBT // .XBT // "0"') and FUT_PRICE=$(kraken futures ticker PF_XBTUSD -o json 2>/dev/null | jq -r '.ticker.last')kraken futures order sell PF_XBTUSD $BTC_BAL --type limit --price $FUT_PRICE -o json 2>/dev/nullkraken futures positions -o json 2>/dev/nullkraken futures cancel-after 3600 -o json 2>/dev/nullkraken futures accounts -o json 2>/dev/nullkraken futures order buy PF_XBTUSD $BTC_BAL --reduce-only -o json 2>/dev/null