> For the complete documentation index, see [llms.txt](https://docs.duels.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.duels.trade/duel-modes/game-modes.md).

# Compare duel modes

The modes differ in what capital is traded, how standings are calculated, how risk is limited, and how the Reward settles.

![Game-mode selector showing Kingmaker, Portfolio Duel, and Funded Duel](/files/4n7x5r6ds88QF5IvdAR3)

## Core differences

|                          | Portfolio Duel                                   | Kingmaker                                          | Funded Duel                          |
| ------------------------ | ------------------------------------------------ | -------------------------------------------------- | ------------------------------------ |
| Trading capital          | Your real Hyperliquid portfolio                  | Real USDC funded into a dedicated Duel Wallet      | $1,000 virtual capital               |
| Real Entry Amount        | Yes                                              | Yes; also becomes Duel Wallet starting capital     | Yes                                  |
| Trading account          | Connected account or Duel Sub-Account            | Separate Duel Wallet for each player               | Virtual duel account                 |
| Contract model           | Non-custodial smart contract                     | Non-custodial smart-contract vault for each player | Non-custodial smart contract         |
| Winner                   | Highest percentage gain                          | Highest USDC performance                           | Highest ending virtual balance       |
| Real trading PNL         | Changes your own portfolio                       | Changes the Duel Wallet and Dynamic Reward         | No; virtual only                     |
| Duel drawdown            | No duel-enforced limit                           | Creator-selected Max Drawdown                      | Eliminated below $10 virtual balance |
| Markets                  | Markets available in the real trading interface  | Markets available in the real trading interface    | BTC, ETH, and SOL                    |
| Orders                   | Real trading controls available in the interface | Real trading controls available in the interface   | Market orders                        |
| Position handling at end | Positions force-closed for final scoring         | Positions force-closed                             | Virtual positions force-closed       |
| Reward type              | Fixed shared Entry Amount pool                   | Dynamic remaining Duel Wallet funds                | Fixed shared Entry Amount pool       |
| Current settlement fee   | 5% of losing Entry Amounts                       | 5% based on losing Duel Wallet settlement balances | 10% of losing Entry Amounts          |
| Real-trade builder fee   | 0.10%                                            | 0.10%                                              | None on virtual trades               |

## Which mode should I choose?

### Portfolio Duel

Choose Portfolio Duel when you want to trade your own real portfolio and compare relative performance. Percentage scoring makes different portfolio sizes comparable, but there is no duel-enforced drawdown.

Entry Amounts are safeguarded through a non-custodial smart contract.

### Kingmaker

Choose Kingmaker when you want ring-fenced real USDC, a creator-selected Max Drawdown, and a Dynamic Reward that reflects what remains in every Duel Wallet.

Each Duel Wallet is a dedicated non-custodial smart-contract vault for that participant.

### Funded Duel

Choose Funded Duel when you want short, high-leverage virtual trading while competing for a real-USDC Reward funded by Entry Amounts.

Real Entry Amounts are safeguarded through a non-custodial smart contract, while the virtual competition uses a dedicated consensus market price.

## Common to all modes

Every mode includes:

* Entry Amount
* Reward
* Player limit
* Duration
* Duel Lobby and Ready state
* Live standings
* Final result and Aura update

Trading, exchange, funding, and provider fees can apply separately from settlement fees.

Read [Non-custodial smart contracts](/duels/smart-contract-escrow-and-vaults.md) for a high-level explanation of how real funds are handled in each mode.


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