$1,000 Trading Competition

Live on mainnet

The competition runs from August 18, 2026 at 12:00 AM ET through August 25, 2026 at 12:00 AM ET.

Trade on Hypercall during the competition window to enter. There is no separate registration.

Prizes

Place	Prize
1st	$500
2nd	$300
3rd	$200

The prize pool is $1,000. A wallet must be prize eligible to receive a prize.

Official Ranking

The official standings rank prize-eligible wallets by Score. The PnL and Volume views on the leaderboard are informational.

$$\text{Score} = \text{Competition PnL} \times \text{Volume Multiplier}$$

Only positive competition PnL receives a volume multiplier. A zero or negative PnL score is not amplified.

Qualifying volume	Volume multiplier
$1,000	1.00x
$10,000	1.125x
$100,000 or more	1.25x maximum

The multiplier grows logarithmically between these points. It is capped at 1.25x.

Prize eligibility

A wallet must meet both requirements:

• Positive competition PnL
• At least $1,000 in qualifying volume during the competition window

Prize-eligible wallets rank ahead of ineligible wallets in the official Score standings.

Tiebreakers

Score ties are resolved in this order:

1. Higher raw competition PnL
2. Greater qualifying volume
3. Wallet address, used as a deterministic final tiebreaker

What Counts

Competition PnL

Competition PnL includes:

• Closing-fill PnL realized during the competition window
• Settlement net PnL from options whose canonical expiry falls inside the competition window

A position opened before the competition counts if it is closed or expires during the window. A position that remains open at the deadline contributes zero competition PnL. It stays open and does not disqualify the wallet.

Deposits and withdrawals are excluded from competition PnL and Score.

Qualifying volume

Only fills executed during the competition window count toward qualifying volume.

Instrument	Qualifying volume
Perpetuals	Execution price multiplied by size
Options	The lesser of underlying notional or 300 times the premium paid or received

The options cap prevents very low-premium contracts from creating disproportionate leaderboard volume.

Participation

• No registration is required. Trade with your connected wallet during the competition window.
• Your wallet is your identity. An approved profile name or Hyperliquid Name may appear on the leaderboard.
• Market makers are included in the leaderboard and prize eligibility.
• Multiple wallets are allowed, but coordinated self-trading or other activity intended to inflate rankings may lead to disqualification.

Final Standings

The leaderboard updates during the competition. Final standings are published only after every option expiring inside the competition window has completed settlement and the results have been reviewed.

Competition Integrity

1. No manipulation. Wash trading, spoofing, layering, and other attempts to manipulate rankings are prohibited.
2. Disqualification. Hypercall may disqualify activity that undermines the integrity of the competition.
3. Rule changes. Any change to an active competition will be communicated.
4. Taxes and legal requirements. Prize recipients are responsible for applicable taxes and must comply with local laws and jurisdictional restrictions.
5. Trading risk. Trading options and perpetuals involves substantial risk. Participation is not investment advice.
6. Final decisions. Decisions concerning rankings, eligibility, disqualification, and prize distribution are final.