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Miles Ketcham
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Copy-trading headlines lie: gross vs net on Polymarket

Markets, Polymarket

Adapted from a thread on XView on X

I checked GoodFallen's wallet on Polymarket's public data.

The headline number

The "+$178,739" is trading profit before fees. It's about $186K now.

Fees took about $122K. Polymarket's own leaderboard shows +$63.7K.

The average trade

The average trade is about $15, not $451: $5.13M across 340,697 trades.

Comparison card: GoodFallen's Polymarket wallet, claim vs data. Claimed: +$178,739 PnL in 92 days and about $451 per average trade. Polymarket's public data: trading P&L before fees about $186K, fees paid $122K, leaderboard P&L +$63.7K, average trade about $15, 340,697 trades. Bottom line: 186K minus 122K = 64K, and $5.13M over 340,697 trades = $15.07.

Still profitable

The wallet is still profitable. But the split is worth seeing on its own:

  • About $186K gross.
  • About $122K in fees.
  • About $64K net.

Fees ate about two thirds of the edge.

Before you copy a wallet

If you're copying a wallet, check net PnL on the leaderboard first. The headline number is before fees.

X ArticleHow to Read a Polymarket Wallet Before You Copy ItRead the full article on X