The OKX PM2.0 spot hedging system is a significant upgrade from PM1.0, offering enhanced capital efficiency, reduced risk levels, and improved position safety protocols. By integrating spot positions into the risk unit framework, PM2.0 allows users to hedge between spot holdings and derivatives—such as futures and options—without locking up assets used for hedging. This dynamic adjustment based on user assets, including support for negative balances in hedging calculations, enables greater flexibility, higher capital utilization, and stronger portfolio protection.
Designed for experienced derivatives traders with substantial spot holdings who seek cross-asset risk management—especially delta-one traders—PM2.0 represents a powerful tool for sophisticated market strategies. Below, we’ll walk you through how to set up and use this advanced feature on both web and mobile platforms.
What Is OKX PM2.0 Spot Hedging?
At its core, OKX PM2.0 introduces a smarter way to manage your trading portfolio by combining spot and derivative positions under a unified risk model. Unlike traditional models where spot assets are siloed or locked during hedging, PM2.0 dynamically evaluates your entire asset base, allowing for real-time risk offsetting across instruments.
👉 Discover how OKX PM2.0 maximizes your capital efficiency with intelligent hedging strategies.
Key benefits include:
- Lower initial and maintenance margin requirements
- Higher capital utilization (enabling more open positions)
- Integrated risk units that combine spot, futures, and options
- No asset lock-up for hedged positions
- Support for negative equity hedging, increasing flexibility in volatile markets
This system calculates margins at the risk unit level, meaning positions with the same underlying asset (e.g., BTC) can offset each other—even across different contract types—reducing overall margin burden.
Core Keywords:
- OKX PM2.0
- Spot hedging
- Portfolio margin
- Risk unit
- Capital efficiency
- Derivatives trading
- Margin optimization
Who Should Use PM2.0 Spot Hedging?
This advanced feature is ideal for:
- Traders with significant spot holdings
- Users experienced in futures and options trading
- Those pursuing delta-neutral or market-neutral strategies
- Sophisticated investors focused on risk mitigation across asset classes
To qualify for the Portfolio Margin (PM) account mode, you must:
- Hold at least $10,000 in net assets
- Have prior options trading experience
- Confirm understanding of the portfolio margin mechanism
These requirements ensure only informed and adequately capitalized users access this high-efficiency trading environment.
How to Enable PM2.0 Spot Hedging on Web
Follow these steps to activate and use spot hedging on the OKX web platform:
Step 1: Switch to Portfolio Margin Mode
- Log in to your OKX official website
- Navigate to the trading interface
- Click the Settings icon (gear) in the top-right corner
- Go to Account Mode → Select Portfolio Margin Mode
Once enabled, scroll down to the bottom of the trading settings page.
Step 2: Activate Spot Hedging
- Find the Spot Hedging toggle and switch it ON
- Choose your preferred Hedging Risk Unit (e.g., USDT-based)
⚠️ Note: First-time users will automatically be enrolled in Spot Hedging USDT mode by default.
Step 3: Execute a Sample Hedge (BTC Example)
Let’s say you want to hedge your BTC exposure:
- On the Spot Trading page, buy a specific amount of BTC/USDT
- Switch to the Perpetual Contracts page
- Sell the same amount of BTC/USDT-PERP (short position)
After placing both orders:
- Go to the Positions or Assets section below the trading panel
Check the box for Risk Unit to view:
- Your hedged spot quantity (“Spot Hedging Used”)
- Reduced maintenance and used margin levels
You’ll immediately notice a drop in required margin due to risk offsetting within the BTC risk unit.
How to Use PM2.0 Spot Hedging on Mobile App
The process on the OKX mobile app mirrors the desktop experience:
Step 1: Enable Portfolio Margin Mode
- Open the OKX App
- Tap the Settings icon in the top-right of the trading screen
- Go to Account Info → Trading Settings → Account Mode
- Select Portfolio Margin Mode
Step 2: Turn On Spot Hedging
- Scroll down and locate Spot Hedging
- Toggle it ON
- Select your desired Hedging Risk Unit
⚠️ Just like on desktop, new users are automatically placed in USDT-mode hedging.
Step 3: Build Your Hedge
Using BTC as an example:
- In Spot Trading, purchase BTC/USDT
- In Perpetual Futures, short an equivalent amount of BTC/USDT-PERP
After execution:
- Visit the Current Positions or Assets tab
- Enable Risk Unit view
- Monitor your hedged spot allocation and reduced margin usage
This unified view gives you full transparency into how your positions interact and reduce overall risk exposure.
Understanding Risk Units and Margin Calculation
In OKX’s Portfolio Margin system, all derivatives are grouped by underlying asset into risk units:
- BTC-USD, BTC-USDT, and BTC options all fall under the BTC risk unit
- Positions within the same unit can offset each other (long vs short)
- Margin is calculated per risk unit, not per instrument
However:
- Coin-margined contracts (e.g., BTC-BTC) and USDT-margined contracts are treated as separate risk units
- This ensures accurate risk modeling across different settlement mechanisms
Because spot holdings are now included in these units, holding long spot BTC while shorting BTC futures results in partial or full offset—drastically lowering required margin.
👉 See how risk unit grouping boosts your trading power with OKX PM2.0.
Important Warnings and Best Practices
While PM2.0 enhances efficiency, it also requires careful management:
Real-Time Risk Simulation
Before executing trades, transfers, or disabling spot hedging:
- OKX simulates the impact on your margin status
- If the action would push you into a high-risk zone, you'll receive a warning
- You’ll need to adjust position size or deposit funds before proceeding
This safeguard helps prevent accidental liquidations.
Stay Informed
For full details on rules and mechanics, refer to OKX’s official documentation on:
- Portfolio Margin Account Full Coverage Trading Rules
- Risk unit grouping logic
- Margin calculation methodologies
Knowledge is key when leveraging complex financial tools.
Frequently Asked Questions (FAQ)
Q: Can I use spot hedging without enabling Portfolio Margin Mode?
A: No. Spot hedging is only available under Portfolio Margin Mode (PM2.0). You must first switch account modes to access this feature.
Q: Are my spot assets locked when used for hedging?
A: No. One of PM2.0’s key advantages is that spot assets remain liquid and are not frozen, even when part of a hedge.
Q: Does spot hedging work with all cryptocurrencies?
A: Currently, supported assets are limited to major pairs like BTC, ETH, etc. Check OKX’s official list for eligible instruments.
Q: Can I hedge using options instead of futures?
A: Yes. Options with the same underlying (e.g., BTC) are included in the same risk unit and can offset spot and futures positions.
Q: What happens if my equity goes negative?
A: PM2.0 supports negative equity within certain limits for hedging calculations, but sustained negative balances may trigger liquidation.
Q: Is there a fee to use PM2.0 spot hedging?
A: There is no additional fee for using the Portfolio Margin system or spot hedging functionality.
Final Thoughts
OKX PM2.0 spot hedging redefines how traders manage cross-market exposures. By unifying spot and derivatives under intelligent risk units, it delivers superior capital efficiency, lower margin costs, and enhanced portfolio control—all without locking up your assets.
👉 Start optimizing your trading strategy today with OKX PM2.0’s smart hedging system.
Whether you're building delta-neutral portfolios or simply seeking better risk management, PM2.0 offers a professional-grade solution tailored for modern crypto traders. Just remember to meet eligibility criteria, understand the mechanics, and always monitor your risk levels closely.
With proper use, OKX PM2.0 isn’t just a tool—it’s a strategic advantage in volatile markets.