OKX Mining Pool Services Have Been Discontinued; Derivatives Hedging Features Remain Available
OKX (formerly OKEX) stopped accepting new user registrations for its mining pool on January 26, 2026, and fully discontinued all mining pool products and related services on February 26, 2026. This means that the hedging functionality previously available for the OKX mining pool no longer exists.However, the OKX platform continues to provide its digital asset trading users with robust general hedging capabilities, primarily through the “Hedge Mode” feature available in its derivatives trading products (such as futures, perpetual contracts, and options).
Hedging is an important risk management strategy designed to offset the risks arising from price fluctuations in underlying digital assets. In the highly volatile environment of the cryptocurrency market, the prudent use of hedging tools is crucial for protecting asset value.
Principles and Key Features of OKX Derivatives Hedging
The core principle of hedging is to leverage the tendency for spot and derivatives markets to move in tandem by executing trades in opposite directions but of equal size across both markets to offset gains and losses resulting from price fluctuations. Its main features include:
- Principle of Opposite Trading Directions: When holding a certain asset in the spot market, establish a position in the opposite direction in the derivatives market (e.g., selling a contract).
- Principle of Identical Digital Assets: The underlying assets for both spot and derivatives trades must be the same digital asset.
- Principle of Equal Quantities of Digital Assets: The size of the derivatives position should roughly match the value of the spot position to achieve effective hedging.
- Principle of Identical or Similar Delivery Months: For futures contracts, select contracts with delivery months that are close to the timing of spot transactions or future demand.
On the OKX platform, Bitcoin (BTC) futures have a notional value of $100, while other cryptocurrency futures have a notional value of $10. Users can select an appropriate leverage multiple based on their risk tolerance to conduct hedging operations.
Classification of Hedging
Based on the purpose of the hedge, hedging is primarily divided into the following two categories:
Long Hedging (Long Position Hedging)
A buy hedge is suitable for situations where you need to purchase a certain digital asset in the future but are concerned that rising prices will increase your purchase cost. By buying call contracts or opening long positions in the derivatives market to hedge, you can lock in your future purchase cost.
Short Hedging (Short Position)
A sell hedge is used when you are concerned that the price of a digital asset you currently hold will fall in the future, leading to a decline in the asset’s value. By selling put contracts or opening short positions in the derivatives market, you can hedge against this risk and lock in the asset’s current value.
How to Enable “Hedge Mode” on OKX
OKX’s “Hedge Mode” allows traders to hold both long and short positions on the same contract simultaneously, enabling flexible risk management and advanced trading strategies. The steps to enable this mode are as follows:
App Instructions
- Open the OKX app and select [Trade] from the bottom navigation bar on the home page.
- Once on the trading screen, select [Futures] or [Perpetual Contracts].
- Tap the [More] icon (usually three dots or a horizontal line) in the top-right corner of the trading screen, then select [Settings].
- In the Settings menu, locate [Position Mode], tap to enter, and then select [Hedging Mode] or [Two-Way Position].
Web Platform Instructions
- Visit the official OKX website and log in to your account.
- Select [Trade] from the top navigation bar, then choose [Futures] or [Perpetual Contracts].
- Find the [Settings] icon (usually a gear) on the right side or in the top-right corner of the trading screen, and tap to open it.
- In the Settings window that pops up, select [Position Mode], then choose [Hedging Mode] or [Two-Way Position].
Important Notes
- “Two-Way Position Mode” is primarily intended for derivatives trading (futures and perpetual contracts).
- Before switching from “One-Way Position Mode” to “Two-Way Position Mode,” make sure your account has no open positions to avoid triggering a forced liquidation.
- After changing the position mode, you may need to reconfigure or adjust your existing trading strategies.
By mastering the OKX platform’s derivatives hedging features and “Two-Way Position Mode,” traders can more effectively navigate crypto market volatility and protect the value of their digital assets.
