> For the complete documentation index, see [llms.txt](https://layer3xyz.gitbook.io/layer3-updated-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://layer3xyz.gitbook.io/layer3-updated-docs/arena-telegram/playing-a-competition.md).

# Playing a competition

Here's the whole loop: join, trade, climb the leaderboard, win.

{% hint style="info" %}
First time? Set up your account and move funds to your trading balance: [Getting started](/layer3-updated-docs/arena-telegram/getting-started.md).
{% endhint %}

## 1. Join a competition

When a host opens a competition, a card appears in the group with the buy-in, the prize split, and a countdown.

1. Tap **Join** on the card.
2. The bot picks it up in your **DM**, so your wallet stays private.
3. Confirm your **buy-in** — that's your entry into the prize pool.

Once enough players are in, the pool fills and trading goes live.

{% hint style="info" %}
If the competition doesn't fill before its deadline, it's cancelled and your buy-in is refunded automatically.
{% endhint %}

## 2. Place a trade

Once the competition is live, trade from your DM with `/trade` (or tap **Open Trading** on the live card):

1. **Pick a market** — ETH, BTC, and more.
2. **Go Long or Short** — Long if you think price rises, Short if it falls.
3. **Set your size and leverage.**
4. **Review and confirm.**

Want more control? **Limit price**, **stop-loss**, and **take-profit** are one tap away behind the advanced options.

{% hint style="info" %}
You trade with your **trading balance** — the funds you moved to Hyperliquid. Your buy-in stays in the prize pool.
{% endhint %}

## 3. Manage your positions

| To do this                                                    | Use           |
| ------------------------------------------------------------- | ------------- |
| Close an open position                                        | `/close`      |
| View or cancel pending limit / stop-loss / take-profit orders | `/orders`     |
| Check your balance and open positions                         | **💰 Wallet** |

## 4. Watch the leaderboard

Send `/lb` — in the group or your DM — to see where you stand.

* **While the competition is live,** the board updates with everyone's running profit and loss.
* **When it ends,** the board freezes to the final result. Late price moves can't change the ranking.

### How scoring works

Everyone is ranked by **percentage return** for the competition — how much your trading account grew or shrank, from the moment the competition went live to the moment it ended, as a percent. Highest return wins.

{% hint style="info" %}
Because scoring is a percentage, players trading different amounts still compete on the same board.
{% endhint %}

## 5. Win and claim

When the competition settles, the winner — or the top finishers, if the host set a split — take the **prize pool**. Your winnings land in your **bot wallet**, ready to withdraw or roll into the next competition.

Hosting a rematch? You'll often see a prompt to jump straight back in.

{% content-ref url="/pages/1bvSd5M18BCRFUTHzJ0Y" %}
[Your wallet & funds](/layer3-updated-docs/arena-telegram/wallet-and-funds.md)
{% endcontent-ref %}