Optiver "Order Books" — the exact 2026 test, free
Despite the name, this module is an arbitrage-spotting card game: each board shows cards of commodities (single items and bundles of oil barrels, copper coils, silver ingots and bags) with Sell and Buy prices. Stage a combination of trades so that every item type nets to zero inventory and the cash comes out positive — then submit and move on.
Free, in-browser, no signup — opens the full assessment on its own page, exactly like the real screen.
What the real test looks like
Every valid submission earns exactly 1 point regardless of profit — a $1 arbitrage and an $11 arbitrage are worth the same, and the official instructions tell you to find the simplest opportunity and move on. The 20 reported boards ramp in three phases: simple price crosses with decoys (buy an item at $10 on one card, sell it at $11 on another), bundle synthesis and decomposition (buy four singles, sell the 4-item bundle), and multi-quantity ratio arbitrage where cards must be clicked two to four times.
Scoring & strategy
With ~24 seconds per board on average, the winning loop is mechanical: scan same-item cards for a direct price cross first; if none, compare each bundle against the sum of its parts; only then look for ratio plays. The Reset button clears staged trades instantly — cheaper than untangling a half-built combination.
Rebuilt from 2026/27 candidate-reported assessments for practice. QuantVault is not affiliated with Optiver; formats rotate between cycles.
FAQ
What is the Optiver Order Books game?
A module of Optiver’s online assessment where each problem is a board of commodity cards with Sell and Buy prices. You stage trades so every item type nets to zero inventory with positive total cash — each valid combination scores exactly one point, with 20 boards on a single 8-minute clock.
Does bigger profit score more points?
No. Any valid opportunity earns exactly 1 point regardless of profit size — the official instructions explicitly say to find the simplest opportunity, submit it, and move on.
What kinds of arbitrage appear?
Three ramping families: direct price crosses between two cards of the same item, bundle-versus-parts synthesis or decomposition, and multi-quantity ratio arbitrage where you buy or sell some cards several times.
Is this practice test free?
Yes — the full 20-board run and the 2-board sample are free in the browser, no signup.