Wallet tracking & rankings
What are crypto trading leaderboards?
A crypto trading leaderboard ranks wallets by trading performance computed from onchain history - typically realised profit over a fixed window. It is useful as a shortlist and misleading as a verdict, because the ranking method decides the winner as much as the trading does.
What gets measured
- Realised PnL. Profit from positions actually closed. The most honest single number, and the one hardest to inflate.
- Unrealised PnL. Paper gains on open positions. Promotes whoever is currently holding something that has run.
- Win rate. The share of closed trades in profit. Says nothing about size, so it is only meaningful beside average win and average loss.
- Volume. Measures activity, not skill. A high-volume wallet may be a bot losing a little on every round trip.
The window is half the ranking
A 24-hour leaderboard is a list of who caught today's move. A 30-day leaderboard starts to describe a process. A 90-day one includes at least one regime change. None of them is wrong, but comparing a trader's 24-hour rank to another's 30-day rank is comparing nothing to nothing.
Survivorship, stated plainly
Every leaderboard shows the wallets that are still there. The ones that took the same risks and lost do not appear, so the visible distribution of outcomes is much better than the real one. This is not a flaw in any particular leaderboard, it is what a leaderboard is. Read the top ten as ten people who did well recently, and size accordingly.
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