Leaderboard

The Helix profit and loss (PNL) leaderboard ranks the top traders on Helix based on realized trading PNL on the exchange. There are four different durations:

• Today

• This Week,

• This Month,

• and All Time.

Today begins at 00:00 UTC on the same day, This Week begins at 00:00 UTC on the prior Monday, and This Month starts on the first day of the same month at 00:00 UTC. All Time includes realized PNL since August 1, 2024.

Connected wallets should see their stats if and only if they make the leaderboard, which will show profitable traders who clear a hurdle that will change over time based on the relative strength of the top traders on Helix. Wallets who do not clear the hurdle due to a negative PNL, PNL beneath the dynamic hurdle, or no PNL at all will not see their rank until they close some profitable trades above the dynamic hurdle. In addition, some wallets may not see their rank if they have been inactive over an extended period or if a profitable trade opened before the leaderboard began collecting data. Finally, the leaderboard is updated every hour on the hour.

Figures on the PNL leaderboard are not meant to be a substitute for thorough tax reporting calculations and purely exist for vanity purposes and for running trading competitions. Calculations for the Helix PNL leaderboard are done as follows :

First, spot positions "opened" before the advent of the leaderboard will not be counted toward a user's total. Similarly, spot buys made after the leaderboard's launch will not count towards PNL unless there is a corresponding sell afterwards. Perp positions opened before the leaderboard's launch will be counted insofar as they are closed.

Next, the Helix PNL leaderboard uses a "first in, first out" (FIFO) approach to spot profit calculations.

Let's use a simple example where a user buys 50 INJ at date A, sells 200 INJ at date B, sells 50 INJ at date C, buys 10 INJ at date D, and sells 20 INJ at date E.

The initial PNL, of course, is zero. The PNL at date A is also zero because nothing has been sold. The PNL at date B is equal to 50 * P(B) - 50 * P(A), where P(A) is the price on date A and P(B) is the price on date B. The PNL at date C is that same value because the user is net short. The same goes for date D. However, as the user has purchased more INJ at date D, the PNL at date E is (50 * P(B) - 50 * P(A)) + (10 * P(E) - 10 * P(D)), where 50 * P(B) - 50 * P(A) is the previously accrued PNL, and 10 * P(E) - 10 * P(D) is the newly accrued PNL from the sale of all 10 INJ purchased on date D. Note, the user is at this point "short," as they have sold more INJ than they have purchased since calculations began.

As mentioned, the calculations do not include coins purchased before the leaderboard went live. For example, a user purchases 5 BTC on date A, before the leaderboard went live. On date B, the user sells 1 BTC. Their PNL is still zero. On date C, the user sells 5 more BTC, so their PNL is still zero. On date D, the user purchases 1 BTC. And on date E, the user sells 2 BTC. Since over this entire time horizon, they have only bought 1 BTC, which they sold on date E, the user's PNL is 1 * P(E) - 1 * P(D), where P(D) and P(E) are the price of BTC on dates D and E, respectively. Of course, the behavior would differ for derivative markets, as the user would have accrued PNL from closing various short positions at different price levels. For spot markets, there is no concept of "going short," therefore selling BTC that the user already had then buying it back later does not result in accrued PNL.

For derivative markets, PNL calculations are far more straightforward. A recent chain upgrade added a realized PNL (rPNL) event anytime a derivatives position is closed. Those totals are simply added to the sum to determine a user's PNL from derivatives trades.