MEV / DEX Wallet Leaderboard

What is this leaderboard?

This leaderboard tracks every wallet (Ethereum address) that traded in the Uniswap V3 USDC/ETH pool on Ethereum mainnet, ranked by how much USDC they extracted from the pool after paying gas costs. It updates once a day and shows both a 24-hour and a 7-day rolling window.

What does "extracted USDC" mean?

Every swap in a liquidity pool is a transfer of value between the trader and the pool's liquidity providers (LPs). When a wallet sells ETH into the pool, it receives USDC, extracting liquidity. When it buys ETH, it deposits USDC. Net USDC extracted is the difference: how much more USDC a wallet took out than it put in, over the measurement window. A high positive number means the wallet was a consistent net seller of ETH into the pool, profiting at the expense of LPs or less informed traders on the other side.

Who are these wallets?

The top-ranked addresses are almost exclusively sophisticated on-chain actors — MEV bots, CEX-DEX arbitrageurs, and sandwich bots. A wallet appearing consistently at the top of both daily and weekly rankings is running an automated strategy that identifies and captures price discrepancies between this pool and centralised exchanges like Kraken or Binance. The "Informed %" column shows what fraction of their trades aligned with concurrent price movement on Kraken — values above 65% strongly suggest the wallet is trading on CEX price feed signals before the DEX price catches up.

Why does this matter?

For liquidity providers, these wallets represent the primary source of adverse selection loss — the cost of having your liquidity traded against by someone with better information. For researchers and funds, the leaderboard is a live map of who has systematic edge in this market, how consistent that edge is (profit factor, win rate), and how capital efficient each strategy is (net USDC per trade). Wallets that rank highly week after week are running durable, automated strategies worth studying closely.

What are the metrics?

Win Rate tells you how consistently the bot profits block by block. A bot at 45-55% with high net USDC is extracting large amounts on winning blocks and losing small amounts on losing blocks — asymmetric payoff structure typical of arb strategies. Random would also be ~50% but the combination with profit factor distinguishes them.

Profit Factor is gross profit divided by gross loss across blocks. A bot at 0.88 with $4.4M net USDC extracted means it runs large winning positions and small losses, the ratio alone doesn't tell the full story which is why we show it alongside net USDC. Above 1.0 means the bot is profitable purely on block-level equity moves.

Trades: high trade count at high net USDC means a scalable systematic strategy. Low trade count at high net USDC means large concentrated positions — higher risk, possibly opening legs outside observation window.

Informed % is a diagnostic metric for MEV specifically; anything consistently above 65% is almost certainly running on a live CEX price feed, it separates CEX-DEX arbitrageurs from sandwich bots and from retail traders.

Why do I see Uniswap infrastructure addresses?

Infrastructure contracts such as the Uniswap Universal Router may appear in rankings because they aggregate retail flow. Their presence alongside MEV bots illustrates the full spectrum of activity in this pool. Performance metrics for routing contracts reflect aggregated retail flow rather than any trading strategy, and should be disregarded; for Uniswap infrastructure addresses only the trade count is meaningful.