Trading Competition

The HyperSwap Trading Competition is a 15-day trading event designed to reward the most active and best-performing traders on HyperSwap Terminal Trading.

Participants compete for a prize pool of up to $35,000, with rankings determined by a scoring system that balances trading activity, profitability, capital efficiency, and day-to-day consistency.

The competition includes both perpetuals and spot trading activity, giving traders multiple ways to participate and climb the leaderboard.

How the Competition Works

Each participant is assigned a competition score based on four performance metrics:

• Volume
• PnL
• ROI
• Consistency

These metrics are combined into a single weighted score used to rank traders on the leaderboard.

Score Formula

Score = 0.35 × Volume' + 0.30 × PnL' + 0.20 × ROI' + 0.15 × Consistency

Values marked with a prime (') are normalized from 0 to 1 relative to the top-performing trader in that category.

This approach ensures that leaderboard rankings are based on a balanced view of performance rather than a single metric alone.

Scoring Breakdown

1. Volume - 35%

Volume measures the total notional value traded during the competition.

It is calculated as:

Volume = size × price

Since leverage is already reflected through the Hyperliquid API, leveraged positions naturally contribute to trading volume without requiring any additional adjustment.

A higher trading volume increases a participant’s normalized Volume’ score.

2. PnL - 30%

PnL represents a trader’s realized profit and loss over the full competition period.

It is calculated after subtracting:

• trading fees paid
• funding paid

This means the PnL metric reflects actual net trading performance rather than gross gains alone.

A higher realized net profit increases the normalized PnL’ score.

3. ROI - 20%

ROI measures how efficiently a participant generates returns relative to their starting equity.

It is calculated as:

ROI = (final equity - initial equity) / initial equity

This rewards traders who are able to grow their account efficiently, even if they are not the highest-volume traders.

A higher percentage return increases the normalized ROI’ score.

4. Consistency - 15%

Consistency rewards traders who perform well across multiple days rather than relying on a single strong result.

It is calculated as:

Consistency = profitable days / total active trading days

An active trading day is any day during the competition on which the participant trades.

This metric favors sustained performance and disciplined trading behavior throughout the event.

Normalization Method

To keep the scoring system fair across different metrics, the values for Volume, PnL, and ROI are normalized between 0 and 1.

For each metric:

• the top trader receives a normalized value of 1
• all other traders receive a proportional score relative to that top value

This means every category contributes according to its assigned weight in the final formula, regardless of raw unit differences between dollars, percentages, or ratios.

Included Trading Activity

The competition takes into account:

• Perpetual trading
• Spot trading

Both types of trading activity contribute to the participant’s overall performance and leaderboard score.

Eligibility Requirements

To qualify for rewards, participants must meet all of the following conditions during the competition period:

Minimum Trading Volume

Participants must reach at least:

$50,000 total trading volume

Minimum Activity Requirement

Participants must trade on at least:

3 active trading days

Maximum Loss Threshold

Any participant whose PnL falls below -80% during the competition will be automatically disqualified.

This rule is designed to prevent excessively risky behavior and ensure the competition rewards sustainable trading performance.

Daily Battle Pass

Alongside the main competition, a Daily Battle Pass runs throughout the event.

Each day features a different trading challenge, giving participants additional ways to compete and earn rewards beyond the main leaderboard.

Top traders share up to $1,500 in daily rewards, unlocked through community trading power.

Example Daily Battle Pass Challenges

Day 1 - Best PnL

• Challenge: Best PnL
• Metric: Realized PnL

Day 2 - Most Winning Trades

• Challenge: Most Winning Trades
• Condition: Minimum 10 trades
• Metric: Winning Trades

New challenge formats may be introduced across the 15-day event, with each day focusing on a specific trading objective.

The Daily Battle Pass is designed to keep the competition dynamic and to reward different trading styles from one day to the next.

Reward Qualification

Meeting the scoring criteria alone is not enough to receive rewards.

Only participants who:

• satisfy the minimum volume requirement,
• meet the minimum active day requirement,
• and avoid disqualification,

will remain eligible for prize distribution.

Summary

The HyperSwap Trading Competition is built to reward traders who combine:

• strong trading activity,
• positive net performance,
• efficient capital usage,
• and consistent execution over time.

By combining Volume, PnL, ROI, and Consistency into a single weighted score, the competition creates a more complete and fair leaderboard across different trading styles.

With a 15-day duration and a prize pool of up to $35,000, it offers participants a meaningful incentive to trade actively and perform consistently on HyperSwap Terminal Trading.