| Main features by strategy | Pairs trading | Term structure arbitrage | Volatility arbitrage | Swap spread arbitrage | Mortgage arbitrage | Capital structure arbitrage |
| Relative value | Yes | Yes | Yes | Yes | Yes | Yes |
| Mean reversion | Yes | Yes | - | No | No | - |
| Market neutral | - | - | - | - | - | - |
| Zero cost | - | - | - | Yes | No | - |
| Expected positive excess return | Yes | Yes | Yes | Yes | Yes | Yes |
| Acceptably small potential loss | Yes | Yes | Yes | Yes | Yes | Yes |
| Take profit | Yes | Yes | Yes | Yes | Yes | Yes |
| Stop loss | Yes | Yes | Yes | Yes | Yes | Yes |