Quant-Arena：用真实 A 股数据评测 LLM 智能体的量化交易研究能力

Authors:Houde Qian, Zheng Jiang, Wenyi Li, Chenxi Xu, Xinjie Lin, Yuzhao Peng, Ruoyu Han, Youjie Zheng, Kaisen Yang, Qinhuai Na, You Fu, Calvin Xiao

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Abstract:Quantitative research is an iterative loop: a researcher proposes a market hypothesis, implements it as an executable signal, tests it on historical data, and decides what to keep. Existing benchmarks score formulas, code, or individual trading decisions, leaving open whether large language models (LLMs) can complete this loop and produce strategies that work beyond the research period. We introduce Quant-Arena, a benchmark and public leaderboard for end-to-end quantitative research on real A-share market data. A model constructs features and stock-scoring code, receives feedback only on 2022--2023, and freezes one strategy for assessment on the sealed year 2024. A cash-account evaluator applies trading constraints and costs, including market impact estimated from a simulated order book. Scores are dominated by realized excess return and complemented by signal quality and the diversity of features used by the strategy. We evaluate nine frontier models, among which GPT-6 Astra scores highest; yet no model beats the equal-weight market in 2024. Quant-Arena is open to submissions from any model or agent harness.

Comments:	Project page: this https URL
Subjects:	Computation and Language (cs.CL); Artificial Intelligence (cs.AI); Computational Engineering, Finance, and Science (cs.CE)
Cite as:	arXiv:2610.30113 [cs.CL]
	(or arXiv:2610.30113v1 [cs.CL] for this version)
	https://doi.org/10.48550/arXiv.2610.30113 arXiv-issued DOI via DataCite (pending registration)

Submission history

From: Wenyi Li [view email]
[v1] Wed, 21 Oct 2026 17:54:01 UTC (5,196 KB)