Crypto options trading with automated hedging, real-time Delta, and disciplined execution. UPRIX is built for serious traders who trade crypto options as a tool for managing risk, collecting premium, and trading volatility — not as lottery tickets. From $199/month. Seven-day free trial.
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Non-custodial · Read + trade API only · Real-time Delta · Transparent execution log
What we ship today
UPRIX currently runs options-style strategies — delta hedging, volatility positioning, gamma scalping — using spot and futures legs on Binance, Bybit, and WhiteBit. Native crypto options venue connectivity (Deribit, OKX options) is on our roadmap for the next 6 months.Strategy types in one platform3Senior Trader plan$199/moPlatform uptime99.97%
The case for options
Why Trade Crypto Options?
Crypto options are crypto derivatives that let you trade exposure to price movements, volatility, and time decay rather than just buying the underlying asset. A serious crypto options trading platform handles the execution, hedging, and risk monitoring that makes cryptocurrency options usable at scale. Here is what they enable.
01 / RISK
Defined risk on directional bets
When you buy a call or put, your maximum loss is the premium paid. Unlike leveraged perps or futures, your downside is bounded the moment you enter the position. Useful for tail-risk hedging and asymmetric speculative bets.
02 / VOLATILITY
Trade volatility, not direction
Options let you trade the width of the price distribution rather than which way it moves. Sell options when implied volatility is high; buy when it’s low. Profit when the market behaves as expected — independent of bullish or bearish moves.
03 / HEDGING
Hedge existing crypto holdings
Put options act as insurance on your spot positions. Holding BTC long? A protective put caps your downside while preserving upside. Holding ETH? Same mechanics with ETH options. Cheaper than dumping and re-buying, and tax-efficient in many jurisdictions.
04 / INCOME
Generate yield on idle capital
Covered calls and cash-secured puts let you collect option premium on positions you’d hold anyway. Not risk-free — you give up upside on calls and accept assignment risk on puts — but a structurally repeatable source of return when implemented carefully.
05 / LEVERAGE
Capital-efficient exposure
An option contract gives you exposure to the underlying asset price for a fraction of the asset’s price (the premium). Used responsibly with appropriate margin required, this is a capital-efficient way to take views; used recklessly, it’s how accounts blow up.
06 / 24/7 MARKETS
Always-on crypto markets
Unlike traditional equity options that trade during exchange hours, crypto options markets are open 24/7. Execute and manage positions across time zones — particularly important for hedging tail-risk events that happen outside business hours.
Who this is for
Built for Scalable Trading Strategies
UPRIX is a trading terminal built for experienced traders who trade crypto options and run volatility strategies as part of a serious book.
Best fit
Independent traders & quants
Trading $25k–$500k of working capital, comfortable with options mechanics, looking to scale trading strategies without building infrastructure from scratch.
- Ex-prop traders going independent
- Quants who don’t want to maintain custom Python
- Developer-trader hybrids
- Existing options traders graduating from manual execution
Also fit
Small funds & family offices
Running systematic options strategies (volatility arbitrage, dispersion, calendar spreads) and needing infrastructure that doesn’t require a six-person engineering team.
- Crypto-native funds under $50M AUM
- Family offices allocating to crypto derivatives
- Multi-strategy shops adding options exposure
Strategy reference
Common Options Strategies
A reference of the most-used crypto options strategies, what they do, and what view they express. Not investment advice — pick the one that matches your view, not the one with the highest theoretical payoff.
| Strategy | View expressed | Best for |
|---|---|---|
| Long call | Bullish on price, neutral on vol | Directional speculation with bounded risk |
| Long put | Bearish on price or hedging long spot | Downside protection on BTC/ETH holdings |
| Covered call | Mildly bullish, want income on existing position | Yield on long-term spot holdings |
| Cash-secured put | Willing to buy at lower strike, want premium | Buying dips with paid entry |
| Long straddle | Volatility going up, no directional view | Pre-event positioning |
| Short straddle | Volatility going down, range-bound | Calm market environments (requires risk management) |
| Iron condor | Range-bound, defined-risk vol selling | Income strategy with controlled tail risk |
| Calendar spread | Time-decay differential, IV term structure | Trading expiration date dynamics |
Each strategy has multiple variants and adjustments. The table shows the textbook version. Most experienced traders run modified versions tuned to their specific market view and risk tolerance.
Getting started
How to Start Options Trading with UPRIX
Setting up your options trading workflow on UPRIX takes about fifteen minutes. Here is the actual sequence.
- 01Sign up & pick a planOptions strategies require the Senior Trader plan ($199/month) or Institutional. Seven-day free trial with full access. No credit card required.
- 02Connect your venuesGenerate read + trade API keys on Binance, Bybit, or WhiteBit for the spot and futures legs. Deribit options support is on the roadmap.
- 03Configure your strategyPick from delta hedging, volatility positioning, or build a custom strategy in the UI. Set position sizing, inventory limits, and risk parameters.
- 04Launch & monitorClick start. Real-time Delta and execution log update as fills happen. The kill switch is on every screen.
Platform
Platform Features for Options Traders
What you actually get when you trade options on UPRIX. No vague feature lists — concrete capabilities.
⚡
Execution engine
The same continuous-quote infrastructure that runs UPRIX arbitrage and market making powers options execution. Sub-300ms hedge response on fill events, intelligent requoting, and post-only flags.
📊
Real-time Delta
Live delta exposure for every bot running. Each bot tracks its own net delta independently, so you see exactly how much directional risk each strategy carries without mixing signals across different positions or tickers.
🔄
Automated delta hedging
When you sell options, the bot delta-hedges automatically across spot and futures legs. The hedger keeps your net delta within the parameters you set, executing only when thresholds are breached — no unnecessary trades, no overtrading your account.
🌐
Multi-exchange support
Trade across Binance, Bybit, and WhiteBit through one engine. Deribit and OKX options venue connectivity on roadmap for the next 6 months. One API key per venue, one execution log for everything.
📈
Analytics & logging
Every fill logged with timestamp, venue, expected versus actual price, and net delta change per bot. Strategy-level P&L attribution shows where your edge actually comes from — not just net result.
🔌
API key security
UPRIX connects to your exchanges through API keys with trade-only permissions. Withdrawal scope is never requested. Your funds stay on your exchange at all times — we orchestrate execution, we never touch your capital.
The difference
Why Start Trading Crypto Options with UPRIX?
What separates UPRIX from a generic trading interface or a custom Python setup.
- Built by a former derivatives department headUPRIX was built by someone who ran the derivatives desk at a brokerage firm — market making ETFs and options, prop trading, leading the team. The infrastructure ships because the founder built it for himself first.
- Three strategy families on one engineThe same execution engine runs cross-exchange arbitrage, automated market making, and options strategies. One platform, one set of API keys, one execution log. No switching tools, no integration overhead.
- Flat pricing, not percentage of volume$199 per month for Senior Trader, custom for Institutional. UPRIX never takes a cut of your trade volume. We don’t have the perverse incentive to push more trades than is optimal for you. Venues compete on lowest fees — we don’t add to them.
- Non-custodial via API keysYour funds stay on your venue. We never custody assets and never request withdrawal permissions. Use the venue with the lowest fees and best liquidity for your strategy — we just orchestrate execution.
- Transparent about what we don’t haveNative Deribit options support is on the roadmap, not in production. Most platforms hide this kind of detail. We tell you up front so you can decide whether to wait, use spot/futures-based options strategies, or pick a different tool.
Supported assets
Crypto Options on UPRIX
Crypto options markets vary dramatically in liquidity. Here is what we focus on and why. Open interest figures are illustrative — actual numbers update daily from venue data.
BTC
Bitcoin options
- LiquidityHighest
- Open interest$22B+
- 1-year volatility40%
- Strategy supportFull
ETH
Ethereum options
- LiquidityHigh
- Open interest$8B+
- 1-year volatility55%
- Strategy supportFull
SOL
Solana options
- LiquidityModerate
- Open interest$400M+
- 1-year volatility75%
- Strategy supportLimited
Bitcoin options dominate crypto options open interest, with ETH options second. Cryptocurrency options liquidity is concentrated in BTC and ETH, so we focus systematic strategies there because execution at retail-to-mid size is supported. For less liquid options on different assets, expect wider spreads and higher slippage.
Real users
Why Traders Trust UPRIX
From independent traders running options and volatility strategies across their books.
Easily running 10 options bots on different strikes and tickers at the same time. Each one tracks its own delta, its own P&L, its own execution log. I used to manage this across three spreadsheets and two scripts. Now it’s one terminal.
J
Jakub R.
Independent options trader, Senior Trader plan
They were straight with me about Deribit being on the roadmap, not live. Every other platform I evaluated hid this kind of detail. The fact that they didn’t told me to take them seriously.
L
Lena S.
Family office quant, Institutional
Running covered calls on my long BTC position. The terminal handles the delta monitoring and execution while I focus on which strikes to sell and when to roll. Collecting premium on a position I’d hold anyway — this is what professional desks have. Now independent traders have it too.
M
Marek K.
Ex-prop trader, Senior Trader plan
Community
Become part of a growing community
Join other experienced traders running options and volatility strategies on UPRIX. The Telegram channel is where users discuss positioning, share execution feedback, and get answers from the team. The founder shows up regularly.Join Telegram
Questions
FAQs
What is crypto options trading?
Crypto options trading is the practice of buying or selling contracts that give the holder the right (but not the obligation) to buy or sell a cryptocurrency at a specific strike price before a specific expiration date. Unlike spot trading where you buy the underlying asset directly, options let you trade exposure to price movements, volatility, and time decay. Options are crypto derivatives — their value derives from the price of underlying assets (such as Bitcoin or Ethereum) rather than being the asset itself.How does crypto options trading work?
Each crypto option has a strike price, an expiration date, and a premium (the cost to buy the option). A call option gives you the right to buy at the strike price; put options give you the right to sell. Traders use options on crypto to take directional positions, hedge existing crypto holdings, or trade volatility itself. On UPRIX, the options trading terminal handles execution and delta hedging across spot and futures, so you focus on strategy rather than mechanics.Is crypto options trading profitable?
It can be, with the right strategy and disciplined execution. Realistic returns for experienced traders running options strategies vary widely: covered calls might return 5–20% annualized, volatility arbitrage can be higher but with much wider variance, and undisciplined directional options buying often loses money over time. Options carry more complexity and tail risk than spot trading. Most retail traders who lose money in options do so because they treat them like lottery tickets rather than position-sizing tools. We don’t promise returns — we provide the execution infrastructure.Which crypto options exchange is best to begin trading?
Deribit currently holds approximately 85% of global crypto options open interest and remains the dominant venue for serious traders. OKX and CME also offer institutional options markets. UPRIX integrates with these venues through API connectivity (Deribit support is on our roadmap for the next 6 months), and currently runs options-style strategies — delta hedging, volatility positioning — using spot and futures legs on Binance, Bybit, and WhiteBit. The best venue for you depends on your strategy, region, and account size.Is crypto options trading allowed?
Crypto options trading is legal in most jurisdictions, including the UK, EU, most of Asia, and offshore venues. Regulatory treatment varies: some countries restrict access for retail traders, some require professional-trader certification, and some prohibit it entirely (the US restricts most crypto options venues for retail). Always check the rules in your region before you start trading. UPRIX connects to your existing exchange accounts via API — the venue’s KYC and regulatory compliance applies, not ours.Can I trade options on assets like Bitcoin and Ethereum?
Yes. Bitcoin options (BTC options) are the most liquid crypto options market by a wide margin, followed by ETH options. Both are supported on major options venues with weekly and monthly expirations across a wide range of strike prices. Less liquid options markets exist for SOL, BNB, and other large-cap cryptocurrencies, though spreads are wider and open interest is much lower. UPRIX strategies focus primarily on BTC and ETH options where liquidity supports systematic execution across different assets.Do I need KYC to trade crypto options?
Yes, every major regulated crypto options venue requires KYC (Know Your Customer) verification. Deribit, OKX, CME, and other institutional venues require identity verification, proof of address, and in some cases proof of trading experience for higher-tier accounts. UPRIX itself does not require KYC because we don’t custody funds — your KYC happens at the venue level. Account creation on UPRIX requires only an email address.What is the margin required to trade crypto options on UPRIX?
Margin required depends on the venue and the strategy. Buying calls or put options requires only the premium upfront — no margin beyond that. Selling options or running multi-leg structures requires margin set by the venue, not by UPRIX. For example, a short straddle on Deribit typically requires 30–50% of the underlying asset price as initial margin. UPRIX is a trading terminal that receives execution logs and position data from the exchanges you connect — margin calculations, market price, and implied volatility come from the venue itself. We display what the exchange reports so you can size positions correctly.
Read more
Blog insights
Deeper guides on options, volatility, and execution strategy.
Delta-Neutral Hedging on Crypto Options
The practitioner’s view on hedging short options across spot and futures. By the founder.VolatilityBitcoin Price PredictionVolatility-based probability ranges. The framework you need before trading options.StrategyCross-Exchange Crypto ArbitrageThe continuous-quote model. Same infrastructure that powers our options engine.
Get started
Trade volatility,
not lottery tickets.
Seven-day free trial with full Senior Trader access. Trade crypto options strategies with real-time Delta, automated delta hedging, and disciplined execution across Binance, Bybit, and WhiteBit. Native crypto options venues on the roadmap.Start 7-Day Free Trial
Non-custodial · Read + trade API only · Cancel anytime