The Helix Profit and Loss (PNL) Leaderboard ranks the top traders based on realized trading PNL across four durations:

• Today: Starts at 00:00 UTC each day.

• This Week: Begins at 00:00 UTC on Monday.

• This Month: Starts at 00:00 UTC on the first day of the current month.

• All Time: Tracks realized PNL since August 1, 2024.

How the Leaderboard Works

• Eligibility: Connected wallets appear on the Leaderboard only if their PNL clears a dynamic hurdle set by the top traders' performance. Wallets with negative PNL, PNL below the hurdle, or no PNL will not see their rank until profitable trades exceed the hurdle.

• Updates: The Leaderboard refreshes every hour on the hour.

• Inactivity: Wallets with extended inactivity or trades predating the Leaderboard's start may not be ranked.

Key Notes

• For Reference Only: Leaderboard figures are for vanity purposes and trading competitions. Figures on the PNL Leaderboard are not a substitute for thorough tax reporting calculations.

• Spot Markets:

  • Only spot trades made after the Leaderboard launch count toward PNL.

  • PNL is calculated using the First In, First Out (FIFO) method.

• Purchases made before the Leaderboard went live do not count toward PNL, even if sold afterward.

• Derivatives Markets:

  • Realized PNL is calculated for each trade when it is closed, based on emitted trade logs.

  • Totals from individual trades are aggregated and added directly to the Leaderboard PNL.

  • Adjustments for scenarios like liquidations or funding payments are included in the PNL calculation.

Helix periodically hosts trading competitions, offering traders the chance to win prizes based on their performance or participation. Competitions may focus on PNL, trading volume, or a combination of both over a specified duration.

Competition Types

1. Performance-Based Competitions Prizes are awarded to traders with the highest PNL or trading volume during the competition period.

2. Random Draw Competitions Winners are chosen at random, with entries based on PNL or trading volume.

   • Example: Earn 1 entry for every $10 of trading volume. The more entries accrued, the higher the chance of winning.

3. Hybrid Competitions Combine both formats, awarding prizes to top performers and random participants.

How Trading Competitions Work

• Tracking Progress: Participants can view their PNL, trading volume, and accrued entries on the Trading Competitions page. Data is updated hourly and does not refresh in real time.

• Competition Period: Each competition has clearly defined start and end dates.

• Winner Notifications: At the end of the competition, winners will be notified via a popup if their connected wallet is selected. The popup will provide details on how to verify identity and claim the prize.

• Terms and Conditions: Every competition is governed by specific rules, available on the competition page.

Spot Markets

For spot markets, realized profit and loss (rPNL) is calculated based on the difference between the buy and sell prices of an asset. Using the First In, First Out (FIFO) method, the formula is:

Where:

• $Q_i$: Quantity of the asset sold in the 𝑖-th transaction.

• $P_{\text{sell},i}$: Price at which the asset was sold in the 𝑖-th transaction.

• $P_{\text{buy},i}$: Price at which the corresponding quantity of the asset was purchased, based on FIFO.

• $n$: Total number of sell transactions considered.

Example

Let’s calculate rPNL step by step based on the following trades:

1. Date A: Buy 50 INJ at price $P(A)$.

2. Date B: Sell 200 INJ at price $P(B)$.

3. Date C: Sell 50 INJ at price $P(C)$.

4. Date D: Buy 10 INJ at price $P(D)$.

5. Date E: Sell 20 INJ at price $P(E)$.

Step-by-Step rPNL Calculation

1. Initial rPNL:

   • At Date A, nothing has been sold, so rPNL = 0.

2. rPNL at Date B:
3. rPNL at Date C:

   • The user sells another 50 INJ, remaining net short. Since no new purchases have been made, the rPNL calculation remains unchanged:
4. rPNL at Date D:
5. rPNL at Date E:

   • At this point, the user remains net short by 190 INJ, as they have sold more INJ than they purchased.

Derivatives Markets

For derivatives markets, rPNL calculation is very straightforward. Herein, rPNL is calculated for each trade when a position is closed. The chain emits detailed trade logs that include the rPNL for each individual trade. These values are then aggregated to determine a trader’s total rPNL.

This approach ensures that rPNL is recorded accurately and in real-time, with additional adjustments made for scenarios like liquidations or funding payments.