Some say trading’s about luck; others call it an extreme sport. There’s a special thrill that comes with executing the perfect trade, buying the dip, and selling at the market’s peak. Trade competitions offer traders the opportunity to improve their skills and to meet new challenges.

Trading competitions can be a great way to make some sizable earnings if you know what you’re doing, but the risk levels, especially with how unpredictable cryptocurrency markets are, can be hard to justify with lackluster prizes.

Phemex is not a stranger to trading competitions, having successfully conducted ‘ Bonanza’ just last month, which celebrated the launch of their inverse contracts. This time, however, they’ve raised the stakes. Launching the fourth edition of ‘Phemex Trader’s Arena’ this November, the Singapore-based global digital asset derivatives exchange is challenging teams to battle it out for a massive $750,000 prize pool.

Discover Your Inner Trader

Unlike Bitcoin Bonanza, where just the volumes of its USD-margined Bitcoin contracts counted towards the contest, at Phemex Trading Arena, all of Phemex’s contract products will count towards the final scores. This means player ROI will be calculated for both their USD and BTC trading accounts, with the higher value counting towards their team’s final ROI. Individual prizes will be determined on the aggregate PnL of both USD trading and BTC trading accounts.

Participants who deposit money into contract trading accounts within the registration period are eligible to win exciting prizes. These include trading bonuses up to $1000 and $100,000 for accounts with over 2 BTC. Participants can only use one account. Users with lower trading volumes than $500 cannot participate.

Between Nov. 25th and December 9th 2021 registrations open for all teams and captains. The stakes are high with Bitcoin being worth over three-quarters of million dollars. Teams must consist of ten or more members, and groups that do not meet this minimum will be considered invalid, disbanded, and it’s members randomly reassigned to other teams.

Captains can win up to $6000 depending on how many members they manage to pull together in a team. Based on their PnL, the average ROI for a team of 10 top traders will determine their rank. However, rewards and ranks can also be assigned to players.

Victors & Winnings

The $750,000 prize pool has 78% set aside to reward teams and 22% for individual traders. First place will receive 25%, second and third places 15%, and last but not least 8%. The remaining 30% will equally be divided among the 10 top teams.

40% of the team’s winnings go to captains, and the team’s top 10 traders are given 30%, with all other team members equally splitting the remaining 30%. Captains receive 40% of team prizes for groups with less than twenty members. However, 60% of team prize will be split equally among all team members.

Out of the 22 percent allocated to players, 8% will go to first place, 5% to second, and 2% will go to third. Final 7% will be equally divided between all winners.

Phemex will also host Twitter campaigns (NYSE:) to publicize the event. All registered participants are invited to follow @Phemex_official. Randomly chosen followers will get rewards, which include limited edition and themed merch while the contest is ongoing.

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