Operator's guide to ARENA
ARENA is the public Hyperliquid trader leaderboard. It ranks profiled wallets by 30-day performance score, return, and win rate, refreshed every six hours. This page covers how wallets get on the board, how the score is built, what each wallet page shows, the refresh cadence, and the limits of what you can infer from a public ranking.
What ARENA is
ARENA is a public window onto Hyperliquid trading activity. Every wallet listed here is being read from on-chain data: opens, closes, fills, leverage, hold time, win rate. Nothing is private or self-reported. Anyone can verify the underlying transactions on Hyperliquid directly.
ARENA exists for two reasons. One: cut through screenshot culture. Loud public "I made £X" posts mean nothing without a closed-trade trail. Two: surface wallets that consistently hold up under public scrutiny, so a researcher (you) can see the field instead of being marketed to.
ARENA is not a brokerage, a signal service, or an execution platform. It does not copy trades. It does not place orders. It is a read-only public data surface.
How wallets get ranked
A wallet appears on ARENA when it has cleared a profiler intake: a minimum number of closed trades, a minimum hold time, and a minimum performance score over the active window. Wallets that fail those gates are filtered out, even if their public screenshots look impressive.
The leaderboard is split into two halls:
- Profiled. Wallets that have cleared SHADOW's profiler. These are the focus of the leaderboard and appear with a tier badge.
- Watch / Scout. Wallets surfaced from public Hyperliquid leaderboards or community attention but not yet profiled. They are visible because hiding them would be dishonest, but they are clearly labelled as unproven.
A wallet's tier (T1 / T2 / T3 / Observatory) reflects its execution authority inside SHADOW. ARENA shows the badge for context; ARENA itself does not assign tiers.
Scoring methodology
Wallets are ranked by a composite performance score over a rolling 30-day window. The score combines:
| Component | Why it matters |
|---|---|
| Wilson interval on win rate | Lower-bounds the true win rate given sample size. A 70% rate over 4 trades is statistically weaker than 60% over 200 trades; the Wilson interval reflects that. |
| Realised return % | Closed-trade percentage, not nominal cash. A wallet with $5k beating a wallet with $5m is meaningful when both are measured in % terms. |
| Hold-time band | Punishes scalper churn (sub-minute holds) and rewards positions held long enough to be reproducible. |
| Drawdown discipline | Wallets that survive deeper drawdowns and continue to compound score better than ones that get nuked. |
| Trade-frequency floor | A wallet with three lucky trades does not earn a high rank, even if those trades hit. |
| Volume / size bands | Adjusts for whether a wallet is operating at meaningful size or trading dust. |
The score is recomputed every six hours from the underlying ledger. Wallets do not stay on the board because they once did well. They stay because the rolling window still says they should.
Wallet pages
Each ranked wallet has a page at
/wallet/0x…. The page shows:
- The wallet's current ARENA rank, performance score, return %, and win rate.
- Tier badge, if SHADOW has profiled the wallet.
- Closed-trade history visible from public on-chain data.
- Direct link to the wallet on Hyperliquid for independent verification.
Wallet pages do not show private operator commentary, internal SHADOW thresholds, or future-trade signals. Everything on a wallet page is reproducible from the same public data anyone else can read.
Refresh cadence
The leaderboard rebuilds every six hours from the underlying SHADOW profiler output. Wallet pages and the public sitemap pick up the new ranks at the same time. If a wallet's recent activity moves it up or down, the change shows in the next refresh window, not immediately.
Hyperliquid itself can lag during heavy market events. ARENA does not invent fills, smooth gaps, or pre-render numbers it does not yet have. If data is missing, the ranking simply does not include it until the next refresh.
What you can & cannot infer
You CAN infer
- That a Tier 1 / Tier 2 wallet has produced reproducible closed-trade performance over the rolling window, not just a screenshot.
- That two wallets at adjacent ranks performed similarly under the same scoring window.
- That a wallet's hold-time, drawdown, and trade-frequency profile matches what ARENA reports — those numbers come from the same on-chain data anyone can read.
You CANNOT infer
- That a top-ranked wallet will continue to outperform. Past performance does not predict future performance.
- That a wallet's strategy is reproducible at your size. Slippage, funding, liquidations, and order-book impact change at scale.
- That ARENA endorses any wallet. Ranking is not endorsement.
- That a wallet's public profile reflects its internal risk management. ARENA sees closed trades; it does not see the operator's playbook.
Limits & honest caveats
- Public data only. ARENA reads what Hyperliquid publishes. If a trader operates on multiple venues, ARENA sees only the Hyperliquid slice.
- Rolling window. A 30-day score does not capture multi-quarter regime risk. Wallets that look great in one market type can decay fast in another.
- No advice. Nothing on ARENA is a recommendation, signal, inducement, or solicitation. Decisions remain yours.
- No endorsement. A high rank means the score formula evaluated well over the recent window. It does not mean FreedomCore vouches for the wallet operator personally.
- Refresh delay. Numbers can be up to six hours stale relative to the underlying ledger.
- Filtering bias. ARENA filters out wallets with too few closed trades or too short a hold time. Some real talent gets caught by those gates and should be considered separately.
FreedomCore family docs
Other FreedomCore product surfaces publish their own documentation:
- SHADOW docs → — copy-trading evidence, wallet tiers, attribution, risk controls.
- You are here: ARENA docs — public Hyperliquid leaderboard.
- ATLAS docs → — market intelligence terminal templates, tiers, and privacy.
ARENA publishes public on-chain data from Hyperliquid. Ranked wallets are not endorsements. Nothing on this page is financial advice. No brokerage execution. No guaranteed returns. Past performance does not predict future performance. Data refreshed every 6 hours.