Competitions

Compete with other traders and climb the weekly leaderboards to earn rewards. A weekly allocation of the points pool is distributed among the top 20 performers in three weekly leaderboards*, with higher rankings claiming the most points.

*Note: Points are currently awarded only for the Total P&L and Relative P&L leaderboards. The Trading Activity leaderboard will be added to the competition starting at 12:00 AM UTC on June 23rd, but points for it will first be awarded on June 30th at 12:00 AM UTC.

Weekly Leaderboards

Rails features three weekly leaderboards which rank users on Total P&L, Relative P&L and Trading Activity. These leaderboards are visible within the Rails platform under the “Leaderboard” tab. Results for the current and previous weeks are always displayed.

Leaderboard Types

1. Total P&L: Ranks users based on their total absolute P&L within the week (i.e. total realized P&L, including funding payments but not including fees)

$$Total P\&L =Absolute\ P\&L\ During\ Period + Total \ Funding \ Payments \ During \ Period$$

1. Relative P&L: Ranks users by their realized P&L growth within the week, which is calculated as follows.

$$Relative P\&L = \Bigg ({Absolute\ P\&L\ During\ Period \over max(500,Starting\ Balance + Deposits\ During\ Period)} \Bigg )$$

1. Trading Activity Score: Rank users by considering both their trading volume and number of trades. Instead of solely focusing on trading volume, we've introduced a weighting system that emphasizes the number of trades, encouraging more frequent trading activity.

$${Trading \ Activity \ Score} = {Total \ Trading \ Volume} \times ({Total \ Trade \ Count})^{0.05}$$

Competitions run weekly from Monday 12AM UTC to the following Monday 12AM UTC. Points are distributed and all weekly leaderboards are reset, providing a fresh opportunity for users to showcase their trading success.

Weekly Rewards

Each week, the most successful traders on each leaderboard are rewarded with points based on their performance. A weekly pool of 300,000 points is distributed evenly across the top 20 users ranked on each leaderboard (100,000 points allocated to each), with higher rankings receiving more points. Users can rank in the top 20 on more than one leaderboard, earning even more rewards.

Points are distributed according to the following distribution formula:

$$P(r) = \Bigg ({(1-p) \over (1 - p^n)} \Bigg ) \cdotp p^{(r-1)} \cdotp L$$

Where:

• $P(r)$ is the points awarded to the user at rank $r$.

• $p$ is a constant between 0 and 1 that defines the distribution (0.8 in this case).

• $n$ is the total number of users (20 in this case).

• $r$ is the rank of the user.

• $L$ is the total point pool for each leaderboard (100,000 points).

This approach ensures that the top-ranked users receive a significantly larger share of the points, while still distributing points to all top 20 users on each leaderboard as follows*:

Rank	$PnL Points	%PnL Points	Trading Activity Points (Coming June 30th)
1	20,242	20,242	20,242
2	16,186	16,186	16,186
3	12,949	12,949	12,949
4	10,359	10,359	10,359
5	8,287	8,287	8,287
6	6,630	6,630	6,630
7	5,304	5,304	5,304
8	4,243	4,243	4,243
9	3,394	3,394	3,394
10	2,715	2,715	2,715
11	2,172	2,172	2,172
12	1,738	1,738	1,738
13	1,390	1,390	1,390
14	1,112	1,112	1,112
15	889	889	889
16	889	889	889
17	569	569	569
18	455	455	455
19	364	364	364
20	291	291	291

Note: this assumes there are 20 users who qualify. If there are less than 20 traders on the leaderboard with more than $0 in their P&L or trading activity, the point distribution may vary.