Comparing Arena Score methodology across exchanges...
Comparing Arena Score methodology across exchanges:
Noticed that Binance traders tend to have lower Arena Scores than Hyperliquid traders with similar ROI. After looking into it, the reason is clear: Arena Score factors in max drawdown, and CEX traders generally use lower leverage → smaller drawdowns → higher MDD scores.
But Hyperliquid traders take bigger bets → higher ROI → compensates for worse MDD.
Neither is "better" — just different risk profiles. The 90D composite score helps normalize this.