> For the complete documentation index, see [llms.txt](https://docs.extended.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.extended.exchange/extended-resources/rwa-trading-competition.md).

# RWA Trading Competition

For information only. Eligibility and jurisdictional restrictions apply. Trading involves risk of total loss. See the Terms, Risk Statement and Restricted Countries.

### Timeline

The Competition runs for two weeks **from** **15 September 2026, 00:00 UTC until 29 September 2026, 00:00 UTC.**

### Rewards

Total prize pool: **$50,000**, distributed across **100 winners**.

<table><thead><tr><th>Rank</th><th>Reward per user</th><th data-hidden>Winners</th><th data-hidden>Total</th></tr></thead><tbody><tr><td>#1</td><td>$8,000</td><td>1</td><td>$8,000</td></tr><tr><td>#2</td><td>$5,000</td><td>1</td><td>$5,000</td></tr><tr><td>#3</td><td>$3,000</td><td>1</td><td>$3,000</td></tr><tr><td>#4–5</td><td>$2,000</td><td>2</td><td>$4,000</td></tr><tr><td>#6–10</td><td>$1,000</td><td>5</td><td>$5,000</td></tr><tr><td>#11–20</td><td>$500</td><td>10</td><td>$5,000</td></tr><tr><td>#21–40</td><td>$400</td><td>20</td><td>$8,000</td></tr><tr><td>#41–60</td><td>$300</td><td>20</td><td>$6,000</td></tr><tr><td>#61–100</td><td>$150</td><td>40</td><td>$6,000</td></tr></tbody></table>

### Scoring

Participants are ranked by:

`Score = PnL × ⁴√(Weighted Volume × OI)`

* Weighted Volume - taker fills count in full, maker fills at 50%
* OI is measured as time-weighted open interest - open interest averaged across the entire competition period, not the peak or final position size.
  * Each position contributes in proportion to how long it is held. This means that holding a position for longer scores higher than opening and closing the same position quickly, and any time spent flat (with no open positions) pulls the average down.
  * **Example (with a 10 hour competition**):
    * Trader A opens a $100,000 position at the start and holds it for all 10 hours.\
      Time-weighted OI = $100,000 × (10/10) = $100,000
    * Trader B opens the same $100,000 position, holds it for 1 hour, then closes and stays flat for the remaining 9 hours.\
      Time-weighted OI = $100,000 × (1/10) = $10,000
* Negative PnL results in a score of 0. Extended may correct calculation, pricing or data errors where reasonably necessary.

### Terms & Conditions

By participating in the RWA Trading Competition (the "Competition"), you agree to these Terms.

#### Eligibility

Participation is subject to Extended's discretion. Extended may refuse, restrict, suspend, or revoke participation or prize eligibility at any time. Accounts with elevated API rate limits are not eligible to participate or receive prizes. Extended may also exclude accounts that it reasonably believes are operated for institutional, professional, or market-making purposes.

#### Prohibited Conduct

Wash trading, self-trading, collusion, use of multiple controlled accounts, artificial volume, manipulation, exploitation of technical errors or other attempts to unfairly influence the Competition are prohibited.

#### Disqualification

Extended may disqualify participants, aggregate related accounts, exclude trades or withhold prizes where it reasonably suspects prohibited conduct or abuse.

#### Changes / Cancellation

Extended may suspend, modify or cancel the Competition, or exclude any participant or market, where reasonably necessary, including due to legal, regulatory, technical, security or market-integrity considerations.

#### Risk

Trading involves substantial risk of loss. Nothing relating to the Competition constitutes investment advice. Participants remain solely responsible for their trading decisions.