Dear Accointing team,
I would like to open a ticket regarding the handling and interaction of Kraken and Kraken Futures accounts. After intensive research, I come to the conclusion that correct recording of Kraken Futures transactions is not possible with the current implementation of Accointing. Here is the initial situation:
I had my Bitcoins on another exchange and transferred them to Kraken earlier this year.
Then from there to my Kraken Futures account to trade. It should be mentioned here that the interaction between Kraken and Kraken Futures is somewhat specific: you cannot have a Futures account without a Kraken account. Being said, Kraken Futures is an internal option of the official Kraken account. You have a total of three wallets: a spot wallet (= the official Kraken wallet, only from here deposits and withdrawals are possible, e.g. in FIAT or for exchange with other exchanges), a holding wallet and a Futures wallet (the last two are only assigned to the Kraken Futures account). It is important to note that Kraken Futures Wallets are internal only. That is, you cannot transfer funds directly to them from an external exchange. The Kraken Futures Wallets can only be “fed” from the Kraken Spot Wallet. All transactions between spot, holding and futures wallet are purely internal transactions. I.e. there are no sells and no changes of the holding periods!
In my opinion, this is exactly the problem with the Accointing implementation: The Kraken and the Kraken Futures account are considered as two separate Exchanges. The internal transactions between spot, holding and futures wallet are not considered as such. For example, if I transferred bitcoins from the external exchange to Kraken in the past and then go through the Accointing checks, I am offered the choice of selecting Kraken or Kraken Futures as the target exchange in “2-Internal Transactions”. This is wrong, because it is not possible to transfer directly to Kraken Futures.
Well, this could all still be set up manually. But it gets worse at the next step, at “3-Missing Classification”. I have hundreds of entries here that cannot be recognized or classified by Accointing. These are all the internal transactions, so when for example I have moved bitcoins back and forth between spot, holding and futures wallet. This is not recognized by the current Accointing implementation. Even if I would go through all entries by hand, it is not possible to select “internal” as classification.
According to my estimation, these internal transactions are clearly marked in the CSV file of Kraken or Kraken Futures (e.g.: Type = “Transfer”, Subtype = “spotfromfutures”, etc.), but are not recognized correctly by the Accointing implementation or are not even considered. The effects are fatal, you can’t display a proper report and get completely abstruse values.
In this respect I urgently ask for improvement. By the way, I would be very happy if a direct API support would be offered for Kraken Futures as well, since this is where the largest number of transactions occur. The API seems to be fine enough, your competitor Coinpanda has already implemented it.