Akuna Capital Interview Guide: OA, Tests & Rounds

The short answer

Akuna Capital usually tests applicants before bringing them into live interviews. For Junior Trader roles, candidates describe timed maths and sequences, a probability assessment, sometimes a recorded betting game, then trader and recruiter interviews.

Quantitative Research applicants face more Python, statistics and mathematical reasoning. Software Engineers face coding and, for lower-level roles, debugging and systems questions. The right preparation starts with your role and the assessment named in your invitation.

How the Akuna Capital interview process works

The process is built around the skills Akuna uses as an options market maker: rapid numerical decisions for traders, statistical reasoning for researchers and reliable, fast code for engineers. Recent candidate accounts show a recognisable progression, with the online tests doing much of the early screening.

Application and resume review. Choose the trading, quant or engineering opening that matches your strongest evidence of skill.
Online assessment. Traders typically encounter maths, sequences or probability. Researchers and engineers receive more programming-oriented tests.
Additional recorded or technical assessment. Some trader candidates complete a VidCruiter betting game; research and engineering applicants may receive a second technical or video assessment.
Live interviews. Speak with a trader, quant, engineer or recruiter. Expect probability, coding, options or project questions according to the role.
Final round or superday. Longer technical discussions, trading games and conversations with several team members can follow.

A January 2026 Chicago Junior Trader candidate reported HackerRank maths and probability tests, VidCruiter, a 30-minute trader interview, a 30-minute recruiter interview and a one-hour trader final. Another September 2026 applicant reported sequences and maths, another online assessment and a call with a trader. Those are useful descriptions of the trading route, rather than a fixed schedule for every opening.

Application screening: which Akuna role should you choose?

Apply to the track that best reflects the work you can demonstrate. Akuna's 2027 listings separate Junior Trader, Quantitative Research, Quantitative Development/Strategy and Software Engineering. The role distinction changes what you should prepare from the very first assessment.

Junior Trader

Speed with numbers, conditional probability, pricing a bet, options intuition and decisions under uncertainty.

Quant Research

Python, probability, statistical modelling, optimisation and explaining research projects clearly.

Software Engineer

Algorithms, code correctness and technical depth in the advertised language: Python, C++ or another engineering stack.

For example, Akuna's current C++ internship listing asks for modern C++, concurrent and distributed systems, debugging and performance work. Its 2027 Quantitative Research internship emphasises statistics, machine learning, optimisation and intermediate Python. Both explicitly welcome applicants without prior finance experience. Read the precise posting before deciding what to revise.

One application detail matters: Akuna's 2027 Quant and Technology intern listings say that applying to a role marks it as your top preference for Quant/Technology hiring that season; the restriction does not stop applications to Trader roles. The C++ listing also explicitly prohibits AI assistance during interviews and assessments. Choose your technical track carefully and practise without external help.

Akuna Capital online assessment: maths, sequences and the 80-in-8 test

The familiar Akuna trading screen is a fast mental-arithmetic test followed by sequences and probability. Candidates from late 2025 and early 2026 still described 80 arithmetic questions in eight minutes. The questions reward automatic arithmetic, with approximately six seconds available per item. Number sequences can include alternating patterns, changes in successive differences and letter-based rules.

A separate 2026 Junior Trader account describes a newer HackerRank assessment: 30 sequence questions followed by 30 probability questions in 28 minutes on one shared timer, without the old standalone 80-in-8 section. This is one specific report, not an established replacement for every applicant. It matters because treating the entire test as a sequence exam could leave little time for probability.

Reported format	Task and pace	What to practise
Traditional maths screen	80 mental-arithmetic questions / 8 minutes, reported in 2025–26 trader accounts	Two-digit arithmetic, division, fractions and error control at speed
Sequence screen	Number or letter patterns; timing and counts differ across accounts	First and second differences, ratios, interleaved and recursive sequences
Newer combined screen	One 2026 report: 30 sequences + 30 probability / 28 minutes in total	Work under a shared clock; budget time for both sections

If arithmetic is on your invitation, use the EverythingQuant Akuna 80-in-8 practice tool. For pattern recognition, the Akuna sequences tool offers a 24-question, 16-minute practice mode. That is EverythingQuant's simulator format, not a claim about the latest company test. Once individual patterns feel comfortable, rehearse mixed sequences and probability on the same timer.

Practice benchmark: Try 20 sequence questions and 20 short probability/expected-value questions in 20 minutes total. Check accuracy by category and redistribute your time if one section absorbs most of the clock.

The probability test and VidCruiter trading game

The next trading assessments turn quick calculations into decisions about money. One February 2026 Junior Trader candidate described probability questions framed as a fair price for a bet: rather than entering a bare probability, the candidate had to translate the chance of winning into a sensible amount to risk. An August 2025 candidate likewise reported a trader interview involving the price of a dice wager.

That means you should move fluently between probability and value. If an outcome pays $24 with probability one in six, its fair upfront price is $4. Change the probability or payout and you should be able to update the price quickly, then explain the difference between a fair price and a price with a margin for risk.

The recorded market-making and alphabet game

Akuna applicants also describe a VidCruiter round involving a timed betting or market-making game. A 2025 Quant Trader intern said the game used an alphabet grid and required fast responses with no return to previous questions. An early-2026 Junior Trader account described a camera-on trading game followed by a behavioural question. The challenge is to understand how outcomes generate points, work out which offers have favourable expected value and make a decision while the rules are fresh.

To prepare, take a small table of possible outcomes and calculate the expected payout of each choice before placing a simulated bet. Then practise adjusting your decision when the payout, probability or time available changes. Working through Akuna's mapped probability and market-making questions is a useful next step.

Trader phone interviews and the final superday

Live trading interviews ask you to reason through probability and market-making situations out loud. Candidates describe dice games, fair wagers, quoted markets, options intuition and follow-up questions that force you to update your answer. A question might begin with a fair value and then ask what bid and ask you would show once inventory risk or new information enters the picture.

In the January 2026 Junior Trader account, the live trader, recruiter and final discussions lasted 30, 30 and 60 minutes respectively. Another October 2026 account described a combined 45-minute recruiter/technical call before an in-person superday with trading games. For a trader interview, practise making an initial estimate, stating what would move it and explaining when you would refuse an unattractive trade.

The recruiter discussion tends to be much simpler technically. Expect to explain why options market making interests you, why Akuna specifically, what you've built or competed in and how you responded when a decision went wrong. Akuna's own Options 101 material gives you enough vocabulary to speak concretely about quotes, options payoffs, Greeks and risk.

Interview questions by role: Trader, Quant Research, Software Engineering

For Akuna, these are genuinely different technical tracks. Choose the role you applied for to see the reported assessment pattern and the questions worth practising next.

Junior Trader: pricing, probability and real-time decisions

Prioritise sequence recognition, fair-wager calculations, conditional probability, dice and coin games, and the effect of inventory on a quote. A 2025 candidate reported being asked to make a market for a real-world quantity and price a two-dice wager; recent 2026 candidates also report online probability and game assessments.

Practice task: make a bid and offer for an unknown value, explain the expected profit and loss for each possible fill, then revise both sides after learning new information. Work through the Akuna interview question bank and the free Akuna Options 101 course.

Quantitative Researcher: Python, statistics and mathematical interviews

For a 2026 research internship, one candidate reported three coding questions in 120 minutes: minimum swaps to sort a permutation, an array-difference calculation and dynamic programming over a subsequence constraint. Other research candidates describe a recorded mathematical assessment requiring verbal explanations, technical calls and a superday. A September 2026 Chicago QR candidate reported a three-hour superday with difficult probability questions and project discussion.

Prepare to derive an expectation or probability, write the corresponding Python routine, and defend how you would evaluate a statistical model on noisy time-series data. Akuna's current QR internship asks for machine learning, optimisation, mathematical modelling and intermediate Python. Practice task: implement an estimator, demonstrate that it works on synthetic data, then explain leakage, transaction costs and out-of-sample validation.

Software Engineering: HackerRank, implementation and systems

Recent engineering applicants report HackerRank coding before live discussions. A first-hand October 2025 account of the C++ SWE internship describes three algorithmic problems in 80 minutes, including an order-book simulation and a sliding-window data-throttling task. For the 2025–26 cycle, a C++ applicant also described a 45-minute second OA involving an unfinished memory-pool implementation. Those are separate reported assessments, not two compulsory tests for everyone.

Python candidates report object-oriented programming, SQL and language concepts, while recent C++ interviews include STL, object lifetimes, pointers, threading, performance and debugging. The official 2027 C++ internship description asks for modern C++, parallel/asynchronous systems and tools such as GDB and sanitizers. Practice task: maintain best bid/ask quotes as orders arrive and cancel, then test duplicate prices, empty sides and stale heap entries.

Quantitative Development & Strategy: implementing mathematical ideas

This path sits between research and production engineering. Akuna's 2027 Quantitative Development & Strategy internship explicitly calls for Python, object-oriented programming, linear algebra and introductory statistics, with pricing models, execution logic, market signals and performance optimisation as the work. A candidate discussion on EverythingQuant describes a 2026 Quant Developer intern HackerRank with algorithmic questions, but one discussion is not enough to declare a universal count or duration.

Practice task: write code that updates a theoretical quote when an input price changes, test the boundary cases and describe its computational cost. Add a statistics exercise that makes you state why a fitted relationship might fail on live market data.

Options 101, Options 201 and Akuna's 2027 trading programmes

Akuna offers an alternative way to build options knowledge and demonstrate trading potential. Options 101 is the firm's free course on trading terminology, payoff diagrams, put-call parity, delta, gamma, theta, volatility and market making. It's useful even if you know the mathematics but haven't seen how an options desk uses it.

Options 201 goes further. Akuna's official listing for 9–13 November 2026 describes a five-day virtual course, around two hours per day, with lectures, shadowing, quizzes, pricing, risk and automation. For this November cohort, applicants submit a resume and motivation letter of up to 500 words, and successful applicants complete initial assessments by 4 November 2026. The strongest course participants can be expedited to Junior Trader interviews. The course is an alternative recruitment path, not a requirement to pass the standard interview.

For 2027, Akuna has also advertised Trading Sneak Peek Weeks in Chicago rather than its traditional summer trading internship. The one-week programmes introduce risk management, trading games, simulations and desk shadowing. The current expression-of-interest listing is for students graduating between December 2027 and August 2028.

Start with Options 101 (official). For current course availability and eligibility, see the Options 201 listing and the 2027 Sneak Peek listing.

Five representative Akuna-style interview questions, worked through

These are original EverythingQuant practice exercises chosen to match the skills in recent reports. They are not claimed to be verbatim questions from Akuna assessments.

1. A sequence under time pressure

Find the next term: 3, 7, 15, 31, 63, ?

Show the solution

Each term is twice the previous term plus one: 3 → 7 → 15 → 31 → 63. The next is 127. Check the rule on all four transitions before submitting. In a timed set, also test differences (4, 8, 16, 32) to see the doubling pattern immediately.

2. A fair price for a dice game

Two fair dice are rolled once. A ticket pays $120 if the sum is ten and nothing otherwise. What is the ticket's fair price?

Show the solution

The winning outcomes are (4,6), (5,5) and (6,4). There are 36 equally likely ordered outcomes, so P(win) = 3/36 = 1/12. The expected payout is $120 ÷ 12 = $10. A fair entry price is therefore $10. If you are asked how much to risk for a fixed net profit instead, define the contract carefully before multiplying probabilities and payouts.

3. Update a market after new information

An asset is worth either 50 or 70, equally likely. A signal says HIGH. It is correct 75% of the time in either state. What is the updated fair value?

Show the solution

Bayes' rule gives P(70 | HIGH) = (0.75 × 0.5) / (0.75 × 0.5 + 0.25 × 0.5) = 0.75. The conditional expected value is 0.75 × 70 + 0.25 × 50 = 65. Your starting midpoint was 60; after HIGH it becomes 65. A quoted bid/ask might sit either side of 65, but the spread and sizes also depend on fill probabilities, inventory and risk.

4. Understand an options payoff

You buy a call with strike $60 for $3 and sell a call with strike $70 for $1, both with the same expiry and underlying. What is the maximum profit per share at expiry?

Show the solution

This bull call spread costs $2 net. Above $70, the long call is worth S − 60 and the short call loses S − 70, leaving a fixed $10 spread payoff. Subtract the $2 premium: maximum profit is $8 per share, reached when the underlying finishes at or above $70. Maximum loss is the $2 premium. The break-even price is $62, ignoring fees.

5. A small order-book programming problem

Process an ordered stream of events: ("add", id, side, price, qty) or ("cancel", id). IDs are unique, quantities are positive and unknown or repeated cancels have no effect. After each event, output the best active bid and ask prices, using None for an empty side.

Show a tested Python solution

Keep live quantity by price and a heap for each side. Cancellations update quantities; old heap prices are removed lazily once no active quantity remains there.

from collections import defaultdict
import heapq


def best_quotes(events):
    active = {}
    bid_qty, ask_qty = defaultdict(int), defaultdict(int)
    bids, asks = [], []
    result = []

    for event in events:
        if event[0] == "add":
            _, oid, side, price, qty = event
            active[oid] = (side, price, qty)
            levels = bid_qty if side == "B" else ask_qty
            levels[price] += qty
            heapq.heappush(bids if side == "B" else asks,
                           -price if side == "B" else price)
        else:
            _, oid = event
            old = active.pop(oid, None)
            if old is not None:
                side, price, qty = old
                levels = bid_qty if side == "B" else ask_qty
                levels[price] -= qty

        while bids and bid_qty[-bids[0]] == 0:
            heapq.heappop(bids)
        while asks and ask_qty[asks[0]] == 0:
            heapq.heappop(asks)

        result.append(((-bids[0] if bids else None),
                       (asks[0] if asks else None)))

    return result

For [("add", "a", "B", 99, 2), ("add", "b", "S", 103, 1), ("cancel", "a")], the quotes after each event are [(99, None), (99, 103), (None, 103)]. Each heap push or pop costs O(log n); across n events, the method takes O(n log n) time and O(n) space. Test two orders at the same price, cancelling both, an unknown ID and an empty book.

How difficult is the Akuna Capital interview?

The difficulty comes from speed early on and depth later. The arithmetic itself can be elementary, but six seconds per calculation is unforgiving. The probability stage is harder when you have to convert an answer into a fair bet immediately. Engineering candidates report time-consuming coding screens where interpreting an order-flow specification correctly matters as much as identifying an algorithm.

At the final stage, you need to explain your approach rather than simply arrive at a number. Traders should practise sensible prices under uncertainty. Researchers should defend model assumptions and the limits of their data. Engineers should explain code invariants, performance and why a design remains correct when the requirements change.

How to prepare: a focused 10-day plan

Choose the track closest to your next assessment. This is an EverythingQuant preparation plan, not a statement about Akuna's recruiting timetable.

Days 1–2: establish a baseline. Traders take full timed arithmetic and sequence drills. Researchers and engineers take two timed coding problems, testing edge cases before submitting.
Days 3–4: repair the weak area. For trading, isolate divisions, fraction arithmetic, alternating sequences and fair-price problems. For research, implement estimators and review conditional expectation. For engineers, focus on streaming updates, heaps/maps, sorting and language-specific fundamentals.
Days 5–6: add the next round. Traders practise probability and expected-value bets plus market quotes. Research applicants explain a statistical result and Python solution aloud. Engineers code an order-book or windowing simulation and talk through runtime, memory and invalid inputs.
Days 7–8: interview practice. Work under a timer while explaining assumptions and correcting mistakes. For trader roles, complete selected lessons in Options 101 and practise option payoffs and risk.
Days 9–10: full rehearsal and review. Simulate the sequence of stages relevant to your role, study the errors that repeat, and prepare clear descriptions of one substantial project and one difficult decision.

For trading and research, continue with the 42-question Akuna practice bank. If your probability foundations are weak, work through Probability for Quants. Engineering applicants can use the programming question library. To combine several target firms or deadlines, build a personalised preparation roadmap.

Akuna Capital interview FAQs

Does Akuna Capital still use the 80-in-8 maths test?

It remained in candidate reports for late 2025 and early 2026. A separate 2026 Junior Trader report describes a combined 30-sequence, 30-probability test instead. Both formats are worth understanding, especially if your invitation does not describe the question types in advance.

Does Akuna use HackerRank and VidCruiter?

Yes. Recent Junior Trader candidates report HackerRank maths/probability and VidCruiter, while engineering and research candidates report HackerRank coding. The tasks on those platforms are very different between roles.

What score do I need to pass the Akuna maths assessment?

No official passing threshold was verified. EverythingQuant's 80-in-8 tool uses 70 net points as a demanding practice target; it is not a company cutoff. Improve both accuracy and the number of questions you can finish under the clock.

Will Akuna ask me to code for a trader position?

The core Junior Trader reports place more emphasis on arithmetic, sequences, probability and games. Some older trading-guide accounts mention additional coding assessments. For Quantitative Research and Quantitative Development, Python coding is a much more central preparation priority.

What is the Akuna Capital probability test?

It commonly means short questions about fair bets, expected value and probability. A February 2026 candidate specifically described computing the fair price of a wager, and a 2026 combined-screen report describes 30 probability questions sharing a timer with sequences.

Do I need finance experience to apply?

No. Akuna's current early-career and engineering descriptions explicitly welcome candidates without previous industry experience. For trading, learning how options and market making work still gives you useful context for technical interviews.

Can Options 201 help me reach a Junior Trader interview?

Yes. Akuna says top performers in its Options 201 programme can receive expedited interviews. The November 2026 listing also requires initial assessments for course admission, so the programme is not an automatic interview invitation.

Is the 2027 Akuna trading internship still a regular summer internship?

Akuna's published 2027 expression-of-interest programme describes multiple one-week Trading Sneak Peek Weeks in Chicago in place of a traditional summer trading internship. Its technology and quant teams still advertise 10-week Akunacademy internships.

Sources and research notes

Reviewed 26 October 2026. Recruitment-stage observations are drawn from dated candidate accounts; employer descriptions are used for official role and programme details. The worked questions above are original EverythingQuant exercises. Different 2026 trader formats have been kept separate rather than averaged into one fictional assessment.