Remote Funded Pairs Trading & Statistical Arbitrage Equity Trader — Cleveland, OH
Cleveland, OH
Maverick Trading
Long/short pairs and statistical arbitrage on US equity relationships.
ET-aligned, regional Fed bank, and a financial-services labor market stronger than the metro size suggests.
A pairs / stat-arb equity trader at Maverick runs market-neutral or beta-neutral strategies on US equity relationships — pairs within the same sector, cointegrated baskets, or single-name long-short setups driven by mean-reversion or fundamental divergence. This is the most quantitative trader role at the firm; expect to be doing real statistical work, not just looking at charts.
Trading from Cleveland, OH
Cleveland hosts the Federal Reserve Bank of Cleveland, KeyBank, and Progressive Insurance. The Cleveland Clinic anchors a major healthcare and biomedical economy. Eastern Time alignment with the NYSE.
Local ecosystem: Cleveland Fed; KeyBank HQ, Progressive HQ; Case Western, Cleveland Clinic.
Time zone: ET — the NYSE opens at 9:30am local for traders based in Cleveland.
What You'll Trade
Long/short pairs within sectors (e.g., two banks, two airlines, two oil majors), basket trades against ETF benchmarks, and divergence trades when a fundamentally similar pair has drifted apart on price. We do not run ultra-high-frequency stat-arb — the firm's infrastructure is professional but not co-located.
Day-to-Day
- Run cointegration tests and rolling regressions on the watchlist of pairs
- Monitor existing pairs for entry/exit signals based on z-score thresholds or fundamental triggers
- Manage market-neutral exposure — pairs require both legs sized correctly to maintain neutrality
- Review the universe of candidate pairs weekly for new opportunities and degraded relationships
Risk Profile
Pairs strategies look low-risk until a relationship breaks — at which point both legs can move against you simultaneously. Maverick traders run defined max-loss per pair and require fundamental review when statistical signals fire on names with company-specific news.
Who Succeeds in This Role
- Traders with quantitative training — Python, R, or strong Excel comfort with regressions
- People who can read a cointegration breakdown as a 'get out' signal, not 'add to the trade'
- Candidates who understand the limits of statistical edge in single-stock relationships
- Traders patient with sample sizes — single pairs can take weeks to play out
Why This Role Exists at Maverick
Pairs and stat-arb provide the firm with a low-beta P&L stream that diversifies away from directional and pure-vol books. Maverick funds traders here because the strategy contributes to firm-level Sharpe even when its individual returns are modest.
What Maverick Offers
- Trade firm capital — no personal capital at risk
- 65%–90% profit split based on performance tier
- Performance-based capital scaling, no upper cap
- Professional training and mentorship from active traders
- Fully remote — trade from anywhere with reliable internet (US applicants)
- Monthly ACH payouts
- No challenge accounts, no evaluations, no monthly fees
About Maverick Trading
Maverick Trading is a proprietary trading firm founded in 1997. We allocate firm capital to disciplined traders and scale buying power based on performance. We are not a brokerage, we do not run challenge accounts, and we do not sell evaluations. We profit only when our traders profit.