libMEV - ELO Based Searcher Ranking

Published: data

Searching is a game that requires a combination of skill, strategy, persistence, and of course, luck. While many players and platforms currently ultilize total profits as a ranking metric, we believe that this approach is fundamentally flawed. In this blog post, we introduce a new ranking algorithm inspired by the ELO rating system used in chess and explain why it is a better alternative.

Problems With Total Profits

Total profits is a commonly used metric to rank searchers. On the surface, this seems like a straightforward and logical approach. After all, a searcher who consistently wins money should be ranked higher, right? However, there are several fundamental flaws with this approach:

LibMEV Searcher ELO Ranking

Inspired by the ELO rating system used in chess, we propose a new searcher ranking algorithm that addresses these limitations and provides a more nuanced evaluation of a searcher's skill and performance. These are the properties of the modified searcher ELO rating algorithm:

Sneak Peek

The video below depicts the ELO rating of the top 20 searchers (by best ELO score) from the merge, till Nov 24th 2023.

searchers = [

From the video above, we can deduce that 0xb0babae was probably the best searcher in around early Oct 2022, as they were ahead of the competition by a good margin (probably due to them being an early searcher/builder). However they couldn't hold onto that lead and eventually fell down the rankings.

The next few months, we saw relatively fierce competition amongst the top searchers, there wasn't a clear champion, until mid Jan 2023, where 0x0000...416b40 started to breakaway from the rest of the competition, and stood there for ~3 months.

0x0000...cc6248 overtook the crown and briefly became the champion for a few days, until...

0x6b75d...09a80 (jaredfromsubway.eth) came into the scene and has been the #1 searcher since.


Our hope is that this new ELO ranking system can bring more insight into the searchers of the ever changing dark forest, better reflecting the skill of searchers across generations, and market conditions.


LibMEV searcher ELO ranking will be released in libMEV shortly. Stay tuned!