Leaderboard

See how you rank against other traders.

The leaderboard ranks all Theta Labs traders by total P&L. It runs in two separate modes — one for live trading and one for paper trading — so your performance in each is tracked independently.

Navigate to the Social page and use the mode toggle at the top to switch between them.

Live vs paper leaderboard

Live trading

The live leaderboard ranks traders by their combined realized and unrealized P&L across all Polymarket and Kalshi spot trades.

What counts toward your ranking:

• Realized P&L from closed positions on Polymarket and Kalshi
• Unrealized P&L from open positions, valued at current market prices
• All trades made through your connected Theta Labs account

Rankings update in real time as prices move and trades are settled. Active traders who trade daily are also eligible for a share of the Kalshi and Polymarket builder program rebate pool, distributed to active users.

Paper trading

The paper leaderboard ranks traders by their P&L in the paper trading tournament, which covers options contracts and narrative baskets.

What counts toward your ranking:

• P&L from paper options trades (calls and puts)
• P&L from narrative basket positions
• Performance is measured against your starting virtual balance

The paper leaderboard is used for the Theta Labs trading tournament. Top finishers earn prizes from the prize pool.

The paper trading leaderboard uses a $1,000 starting virtual balance. No real capital is at risk. Your options and narrative positions are tracked separately from your live trading account.

Rankings

Each row in the leaderboard table shows the following metrics for a trader:

Column	Description
Rank	Your position on the leaderboard, ordered by total P&L
Trader	Your display name or wallet address
Volume	Total dollar value of trades you’ve placed
Total P&L	Combined realized and unrealized profit and loss, in dollars
Return	Total P&L as a percentage of your total trading volume

The table is paginated in groups of 10. Use the page controls at the bottom to navigate through all ranked traders.

Finding yourself on the leaderboard

Scroll through the pages to locate your rank, or look for your display name in the Trader column. Your name is set from your Theta Labs account profile.

If you haven’t made any trades yet in the selected mode, you won’t appear on the leaderboard until your first trade is recorded.

Medal tiers

The top three positions receive special styling to highlight the leading traders:

Position	Medal
1st place	Gold — highlighted row with gold border and text
2nd place	Silver — highlighted row with silver border and text
3rd place	Bronze — highlighted row with bronze border and text

All other positions use standard row styling without a medal highlight.