> For the complete documentation index, see [llms.txt](https://docs.atoma.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.atoma.fi/strategy/strategies.md).

# Strategies

Atoma's trading return comes from a quantitative, high-frequency, market-neutral trading engine on [RWA perpetuals](/getting-started/rwa-markets.md). Statistical Arbitrage across venues is the core of that engine. Funding Arbitrage earns an additional return on the same hedged positions, and venue points come on top.

## Strategy map

| Strategy                                                    | Role       | Example                                                                                                                                                 | Depends on                                                 | Main risks                                            |
| ----------------------------------------------------------- | ---------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------- | ----------------------------------------------------- |
| [Statistical Arbitrage](/strategy/statistical-arbitrage.md) | Core       | The same index trades at 100.00 on one venue and 100.30 on another. Buy the cheaper side, sell the more expensive one, close both when prices converge. | Both sides executing near the quoted prices, after fees    | The difference widening, partial fills, venue failure |
| [Funding Arbitrage](/strategy/funding-arbitrage.md)         | Supporting | Long where funding is 5% a year, short where it is 15%, collecting the 10% difference.                                                                  | Funding rates staying favorable while the position is open | Funding reversing, the two contracts diverging        |
| [Points](/strategy/points.md)                               | On top     | Trading activity earns points in venue points programs.                                                                                                 | Venue program rules                                        | Programs changing or ending                           |

## How the engine trades

* **Quantitative.** Algorithms monitor prices on every venue continuously. A position is opened only when the price difference between venues holds against its moving average, not on a single price print.
* **High-frequency.** The engine reads venue order books and reacts within milliseconds.
* **Liquidity-aware.** Every order is sized to the liquidity available at the best prices on both venues.
* **Cross-contract.** Pairs are not limited to identical contracts. An index perpetual can be traded against the perpetual on an ETF that tracks the same index, sized by the ratio between their prices.

## What Atoma does not do

* **No directional positions.** Every position is hedged with an opposite position on the same underlying.
* **No liquidity pool arbitrage.** Atoma trades on perpetual order books, not against automated market makers.
* **No lending.** Deposited USDC is not lent out.