The top of the @OndoPerps leaderboard, per the team's own October post, reads like a highlight reel: - $720K in PnL at number one - $544M of volume from a single trader - A $2M largest single position Boards like this are catnip. They are also the most misleading page on any trading venue. A PnL ranking with no starting capital, no drawdown, and no leverage shown is not a skill ranking. It is size times risk times luck, in proportions nobody publishes. And it never shows the denominator. For every account at the top, there is a long tail of accounts that sized up chasing the board and never made it onto any screenshot. The incentives stack. This venue also pays weekly USDC for volume and open interest, so the board sells status while the pools pay cash for the same behavior: trade bigger, trade more, hold longer. To be fair, at least the numbers here are public. On most centralized exchanges, you cannot even see the reel. Just read it for what it is. A leaderboard is advertising that traders generate for free. The most useful number on it is the one it never shows: how many accounts blew up climbing it.