WhiteBIT Trading Competitions: The Birth of Trading Legends

Published 20 September 2023
WhiteBIT Trading Competitions: The Birth of Trading Legends


Greetings! It’s updated Trading Competitions calling. We’ve fused the spirit of healthy competition with a relentless pursuit of excellence, creating a platform that not only hones your skills but elevates your trading prowess to new heights. Our competitions offer a distinctive chance to enhance your trading abilities, irrespective of your experience level.

In one corner, we have trading volume, and in the other, we present you with the options of updated rP&L and rP&L + Volume competitions. The choice is yours. Which path will you take on your journey to trading mastery?

What is Trading Competition on WhiteBIT?

It is an activity held among exchange users on the WhiteBIT platform that is a trading competition for a specific pair.

Globally, there are three parameters by which the winners are determined:

  • Trading volume. We select the winners of this tournament based on their trading volume for a specific trading pair during the competition period.
  • rP&L. Winners are determined based on the size of their realized P&L in trading on a specific pair during the contest period. (Implemented in 2023)
  • rP&L + Volume. Winners are determined by their trading volume and rP&L. That is the values of trading volume and realized PnL are added. At the same time, the value of rP&L has more weight. In percentage terms, their values in calculating results are rP&L = 60% and volume = 40%. (Implemented in 2023)


PNL, or P&L (Profit and Loss), is a vital financial metric across various industries and investment activities. On the other hand, realized rPNL or rP&L (Realized Profit and Loss) specifically reflects the profits or losses realized after a position is closed. When a position is completely closed, rPNL encapsulates the trade’s ultimate outcome. If a position is partially closed, it measures profits or losses for the portion that was closed.

To delve deeper into the world of P&L and its intricate calculations, explore our comprehensive article “What is Profit and Loss (PNL).” In the context of Trading Competitions, we place a significant emphasis on realized profits during our calculations.

Trading Competitions with “Trading Volume” as the Main Parameter

Imagine we’ve just kicked off an exciting tournament where the goal is to compete for the highest trading volume in the BTC/USDT pair.

You start with a balance of 5000 USDT. Head to the Trading Tournaments page, pick BTC/USDT, and hit “Participate.” In the first week, you purchase 0.1 BTC for 3000 USDT. A few days later, with the BTC’s value rising, you sell your 0.1 BTC for 3200 USDT, boosting your total trading volume to approximately 6200 USDT.

Later, you seize another opportunity, buying 0.15 BTC for 4800 USDT. Eventually, you sell these 0.15 BTC for 5100 USDT, elevating your trading volume to around 16,100 USDT.

It’s essential to note that tournament winners are determined by the total trading volume for the selected pair, not the profitability of individual trades. Keep track of the competition’s dynamics in the table right on the tournament page.

Trading Competitions with “Trading Volume” as the Main Parameter

Trading Competitions with “rP&L” as the Main Parameter

Now consider a scenario where the main parameter for selecting winners is realized profit or rP&L. This is one of the tournament types that became available as part of the 2023 update and is only available for margin and futures trading.

So imagine you have 25,000 USDT in your balance. You decide to open a long position on the BTC/USDT pair. The price of BTC at that moment is 10,000 USD. You buy 2.5 BTC. Later, the price of BTC rises to 12,000 USDT and you decide to close the deal by selling all of your 2.5 BTC.

As a result, your rP&L is (12,000 USDT * 2.5 BTC) – (10,000 USDT * 2.5 BTC), i.e. 30,000 USDT – 25,000 USDT = ≈5,000 USDT.

This indicator is key to winning the competition. Users with negative or zero rP&L cannot enter the leaderboard.

So, to win, you need to focus on increasing your rP&L profit. It is not so much the frequency of transactions that is important here, as their effectiveness. These tournaments are great for professional traders who skillfully operate the leverage in margin trading. Please note that the rP&L indicator will be displayed on the tournament table in the Tether (USDT) indicator.


PNL is calculated using a formula similar to traditional financial markets:

PNL = (Exit Price × Number of Units Sold) − (Entry Price × Number of Units Bought) − Fees

Where the exit price is the price at which the user sells the asset and the entry price is the price at which the user buys the asset. The number of units bought and sold belongs to the amount of cryptocurrency traded. Fees are the amount of money per transaction.

Trading Competitions with “rP&L” as the Main Parameter

Trading Competitions with “rP&L + Trade volume” as the Main Parameter

In tournaments of the third type, winners are determined by the results of both rP&L and trading volume. That is, both indicators are considered, and their results are added up. Since the rP&L indicator is important for determining the winners, this type of tournament is also only available for margin and futures trading. Let’s consider an example.

You have 20,000 USDT available on your balance. The price of BTC at this time is 10,000 USDT. You decide to buy 2 BTC, spending the entire available amount on it. Later, when the price of BTC rises to 11,000 USDT, you sell your assets. And what happens to the indicators?

rP&L (realized P&L) is your profit. In this case: (11,000 – 10,000) * 2 = 2,000 USDT.

Trading volume: You had two trades – buy 20,000 USDT and sell 22,000 USDT, making a total trading volume of ≈42,000 USDT.

rP&L + Trading Volume: Add these figures and get your result in the tournament — 2,000 USDT (rP&L) + 42,000 (Trading Volume) = 44,000 USDT.

The formula for calculating the user rating in the tournament table is: (rP&L * 0.6) + (trading volume * 0.4). We have (2000 * 0.6) + (42 000 * 0.4) = 18 000. As a result, 18,000 is the user’s rating in the tournament table. In this formula, the value 0.6 is responsible for the percentage ratio of the rPnL value, and 0.4 is the value of the trading volume.

That is, even if the participant’s rP&L indicator is negative, he still has the opportunity to get into the tournament table since the indicator of trading volume is also taken into account. Realized profit and trading volume are taken into account in this tournament. The higher these indicators are, the higher the participant’s place in the tournament table. Please note that the rP&L indicator is more important when making calculations.

Trading Competitions with “rP&L + Trade volume” as the Main Parameter

Additional Parameters for Trading Competitions

Think of our trade competitions as a showroom of cars with various configurations. Your mission? Explore the options and select the one that suits you best.

Alongside introducing two exciting new tournament types in 2023, we’ve incorporated a range of enhancements designed to level up your tournament experience. These tweaks can be seamlessly combined, enriching the dynamics of any competition type you choose. Explore the possibilities!

Competitions for Beginners

If you’re new to crypto trading or have recently joined our exchange to explore its functionalities, these tournaments are tailor-made for you! To be eligible for our beginner tournaments, simply ensure you registered on our exchange within the last three calendar months before the tournament’s start and have no previous participation history in trading tournaments on our platform. Participating in these events not only offers you a chance to claim a slice of the prize pool but also provides an excellent opportunity to sharpen your trading skills.

Minimum Trading Volume

In certain tournaments, there’s a requirement for a minimum trading volume to secure a place on the tournament leaderboard. You can easily monitor your position in the tournament right on the competition’s page, as the leaderboard updates every 30 minutes. It’s important to keep in mind that meeting the minimum trading volume doesn’t guarantee you a reward.

Proportional Reward Distribution

In certain tournaments, there isn’t a predetermined prize amount guaranteed for the winner. Instead, rewards may be distributed among participants based on their proportional contributions to the total trading volume of the tournament or their rP&L.

Variety of Rewards

We’re spicing things up! Recently, we’ve expanded our range of rewards to keep things exciting and fresh. In addition to digital asset prizes, you can look forward to winning exclusive branded merchandise, NFTs, and various other enticing rewards.

For your Convenience

Details regarding the main parameter of the tournament, whether it’s trading volume, rP&L, or rP&L + volume, is located on the page of the selected trading competition. Within the tournament’s information section, you’ll discover informative descriptions of each setting tailored to that specific event.

For a streamlined assessment of your tournament performance, use the “My Rewards” section, where you can access a history of your past trading competitions.

So, trading competitions at WhiteBIT are primarily about improving skills, enthusiasm, and development. Participate, win your well-deserved crypto trophies, and get used to winning!


It is a trading competition for a certain pair, where the main condition for determining the winners is the indicators of trading volume, rP&L, or the sum of these indicators. In addition, a separate setting can be added to each competition, which will be indicated on the tournament page.

To participate in the trading competition, first, sign up with WhiteBIT and make sure to verify your account (pass KYC). Choose the desired trading pair, read the terms and conditions, and hit the "Participate" button.

There are no specific restrictions for most tournaments. Any verified WhiteBIT user can participate in them. However, there is a category of tournaments that only new exchange users can join. Beginners are users who have registered on the platform no earlier than three months from the start date of a specific tournament and who have not yet participated in tournaments on the exchange.

Competitions are subject to standard platform restrictions. For example, some markets and trade types may not be available in certain countries. Also, the user is prohibited from executing his own orders to increase trading volumes. In this case, the user may be removed from further tournament participation. You can find out more in the details in the rules of participation for each tournament.

Depending on the conditions of the tournament, the winner may be selected based on their trading volume for the target pair, rP&L, or based on rP&L + trading volume, with rP&L being more important.

Yes. For example, in the framework of some tournaments, it is necessary to gain a minimum trading volume to get into the leaderboard. All conditions for participants will be indicated on the page of a particular tournament, so you should read them carefully before starting to trade.