Akuna Capital Interview Questions
45 real Akuna Capital interview problems: probability, expected value, market-making brain-teasers, card/dice games, and quant coding rounds.
Inside the Akuna Capital interview
Akuna Capital is a Chicago-based options market maker built around derivatives technology and high-volume electronic trading. Its interviews lean hard on fast mental probability, expected-value reasoning, and the kind of card/dice/betting games that mirror pricing a two-sided market under uncertainty.
What they test
The dominant block is probability and expected value — coin-flip and dice games, card-hand odds, geometric races, and waiting-time questions you must answer cleanly under time pressure. Around it sit betting and game-theory problems (optimal thresholds, redraw-vs-switch, bankruptcy-risk payouts) that probe how you act on an edge, plus a set of quick brain-teasers and combinatorics. Quant-Dev and QR loops add a coding round.
The recurring shapes
Expect expected-flips / expected-rolls until a pattern set up as a small recurrence, card problems (first ace, three-of-a-kind, one-of-each-rank), and conditional probability traps like two-children or two-heads-given-at-least-one. Market-maker flavor shows in EV under a stopping rule (keep-or-reroll, repeat-stop dice) and betting-to-a-target strategy. The coding round runs LeetCode-style: rotated-array search, graph connectivity, swaps-to-sort.
How to approach
Set up the small recurrence or condition-on-the-first-step argument out loud and commit to a number — Akuna rewards a fast, defensible estimate over a stalled exact derivation. For card and dice questions, lean on symmetry and indicator/linearity-of-expectation tricks. For the betting and game-theory problems, state the EV and the decision rule explicitly before optimizing the threshold.
A mostly-medium set with a band of quick easies and one hard betting problem — calibrated to the speed-and-accuracy bar of an options trading floor.
Akuna Capital probability questions (12)
- Two Children and a Boy
- Maximum of Multiple Dice Rolls
- Matching Royals: Each Player Gets One of Each Rank
- Conditional Probability of Two Heads Given at Least One
- Probability of Three of a Kind in a 5-Card Hand
- Probability of a Pair in Poker
- Most Likely Position of the First Ace
- Simulating a 2:3 Odds Ratio with Fair Coins
- Royal Firsts: One of Each Before the Ace
- Polya Urn Free Kicks
- First Heads Race Between Two Geometric Flippers
- Probability of Meeting at Office Hours
Akuna Capital expected value questions (12)
- Expected Number of Loops from Random Noodle Pairing
- Expected Payout With Bankruptcy Risk
- Expected Rolls to Get Two Consecutive 1s
- Keep or Reroll Under Seven
- Expected Flips for Two Consecutive Heads
- Expected Number of Connected Components in a Random Coloring
- Expected Distinct Cards from Random Packs
- Expected Flips for Consecutive Heads
- Expected Value of a Coin Flip Game
- Expected Difference of Differenced Sequence
- Expected Winnings of a Repeat-Stop Dice Game
- Expected Flips for Two Consecutive Heads
Akuna Capital coding questions (7)
Akuna Capital combinatorics questions (6)
Akuna Capital game theory questions (4)
Akuna Capital brain teasers questions (2)
Akuna Capital statistics questions (1)
Akuna Capital stochastic processes questions (1)
Akuna Capital interview FAQ
What kind of questions does Akuna Capital ask in quant interviews?
Candidates most often report probability, expected value and coding questions. This page collects 45 of them, 45 stamped with the month they were last reported — each with a full worked solution.
How hard are Akuna Capital interview questions?
The set spans 14 easy, 30 medium and 1 hard problems. Most sit at medium difficulty — solvable in a few minutes with clean reasoning — with a harder tail that rewards knowing the canonical tricks.
How do I prepare for the Akuna Capital quant interview?
Work through this set by topic (use the sidebar), starting from your weakest area. 13 problems are free to open with their full solution, so you can judge the quality before anything else. Then walk the full Akuna Capital interview guide for the round-by-round funnel and the online assessment.
Are these the actual Akuna Capital interview questions?
They are built from candidate-reported Akuna Capital questions. We rewrite each prompt for clarity and author the worked solutions ourselves — we don't claim the wording is verbatim, and we never invent questions or recycle generic lists. 45 of 45 carry the month they were last reported.