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AEVO.XYZ/PRODUCTS/OPTIONS-HEDGING
Hedging with options without learning options: introducing PERPS+
Trade Perps ↗
OCT 4, 2026
5 MIN READ
1,188 WORDS
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Hedging is one of the most useful things you can do as a trader, and one of the least used tools in crypto. Ask most perp traders why they don’t hedge and the answer is almost always the same: hedging perps with options means learning options, and most people don’t have the time or the appetite for strikes, expiries, and Greeks. That’s the gap PERPS+ closes. It gives you the risk management of an options hedge, built directly into your perp position, without ever asking you to think like an options trader.
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The problem with hedging in crypto right now
Crypto has always sold itself on access. Anyone with a wallet can trade instruments that used to be locked behind institutional desks. But when you get into more advanced derivatives, that promise starts to break down.
Automated vaults offer one kind of exposure, week after week, with no way to adjust to what the market is actually doing. AI trading agents are coming (Aevo already supports this with our own MCP server), but plenty of traders don’t want to hand their positions over to an agent. They want to stay hands on.
That leaves a real gap for anyone who wants to hedge a perp position without giving up control and without becoming an options expert first.
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Why hedging perps with options hasn't caught on
People have called onchain options the next big thing every year since 2021, and every year the volume hasn’t followed. Aevo has been in the middle of this the whole time. We launched in 2023 as the first CLOB options DEX and have processed over $10 billion in options volume. We’ve watched the demand for hedging tools up close, and we’ve watched most traders bounce off them anyway.
The reason isn’t that options are too complicated to use. It’s that they look too complicated to try. The moment someone sees “strike price” or “implied volatility,” they close the tab, even when an options-based hedge is exactly what their position needs.
So we asked a different question: what if hedging a perp didn’t require understanding options at all?
03
Introducing PERPS+
PERPS+ bundles a perpetual future with an options-based hedge into a single trade. One click, one position, one PnL. You get the protection of a structured hedge with the simplicity of a regular perp trade: no strike selection, no expiry management, no Greeks to track.
PERPS+ launches with three enhancers, each built around a different way to hedge perps with options, available on both long and short positions.
Limit My Loss
You’re long ETH and confident it goes higher, but you don’t want a sudden move against you to wipe the position out. Set your maximum acceptable loss and a duration, and that’s the hedge done. If ETH drops past your threshold, your losses stop there. If it rallies, your upside stays uncapped. Think of it as insurance on your position.
Get Paid to Hold
You’re short BTC and holding your thesis, but you’d rather earn something while you wait than just sit on the trade. Set a profit cap and PERPS+ pays you a premium upfront, cash in your account right away. You’re trading some of your maximum profit for guaranteed income today, a classic yield-enhancing hedge without touching an options screen.
Lock My Range
You want certainty on both sides: a known worst case and a known best case. Set your range and PERPS+ defines both boundaries for close to zero net cost, since the premium on one side offsets the other. Under the hood, this is a collar built from two options. On the surface, it’s just a range you picked.
Three enhancers, zero options knowledge required, one position to manage. Switch between the modes below to see how each one reshapes a long position.
A long perp, with and without PERPS+
Illustrative P&L at expiry for a long position entered at 100, with example strikes and premiums. Live pricing depends on market conditions.
04
Why this only works on Aevo
Hedging perps with options at the click of a button isn’t something you can bolt onto any exchange. It needs perps and options sharing the same order book, the same margin engine, and the same settlement layer from day one, so a hedge can be composed and executed atomically in a single margin account.
No traditional exchange offers that kind of real-time, permissionless composition between perps and options, especially not for retail traders. Aevo was built with both products on the same infrastructure from the start, which is what makes PERPS+ possible now. Unified margin is the other half of that story.
05
A new way to think about risk management
PERPS+ isn’t a vault and it isn’t an agent. It’s a new category: one-click strategies that bring the risk management of structured products to anyone trading perps, without the learning curve that’s kept most traders away from hedging in the first place.
If you’ve ever wanted to hedge a position but didn’t want to deal with options, this is built for you.
WHERE TO GO NEXT
For the theory behind floors, caps and collars, read how to hedge crypto. If you want the option itself, Aevo is an options dex. Trading leveraged contracts with no expiry? Aevo runs a decentralized perps exchange with on-chain settlement and 20x on BTC and ETH. The deepest market on the venue is the BTC perps market, with options and PERPS+ on the same asset.
06
Frequently asked questions
What does it mean to hedge a perp with options?
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Do I need to know how options work to use PERPS+?
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Is PERPS+ the same as an automated vault?
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Does PERPS+ replace Aevo's options market?
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What's the cost of using PERPS+?
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Can I use PERPS+ on both long and short positions?
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Do PERPS+ trades earn trading rewards?
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Hedge a BTC perp
PERPS+ is built into the perp ticket.
Trade Perps ↗
COVERS
BTC AND ETH PERPS
MODES
LIMIT MY LOSS, GET PAID TO HOLD, LOCK MY RANGE
POSITIONS
LONG AND SHORT
ACCOUNT
ONE CROSS-MARGIN ACCOUNT
PRODUCT / PERPS+ / HEDGING
This page is for information only and isn’t financial advice. Options and perpetual futures are high-risk products and you can lose your full position.