What is Dexwhales?
Dexwhales is a tool to track and find profitable DEX traders on different chains such as Ethereum, Solan,
Base, BSC, and Avalanche — more chains will be added
The tool has different sections:
Top: These are the profitable traders for a specific token. Enter a token or pair address in the search bar
and it shows you the traders.
Legend: The traders who’ve been profitable in more than one token. Add different token addresses and the tool
finds the traders who’ve been profitable in all of them. For example, you can find who made money on both
$Wif and $Myro.
Insider: This is a curated list of profitable wallets who have made money on the most hyped coins. Accessing
this section like the other two parts is free. However, you need to follow us on X (twitter) to receive
daily addresses.
Trending 24h: A list of tokens that have been trending for the past 24 hours. You can select any tokens and
find traders that have been profitable in some of them. The tokens in this list are updated every 24 hours.
How to use this tool efficiently?
There are some metrics for each trade’s address including number of trades (buys and sells), amount of trades
(buys and sells), PnL in $ and X, and number of coins (in the legend and trending sections).
You can also see ranking icons in the PnL(X) column. There are 4 ranks from best to worse:
-
Diamond: PnL(X) >= 10
- Gold: 5 <=PnL(X) <10
- Silver: 2 <=PnL(X) <5
- Bronze: 0
Note that if PnL(X)>10 but there is no buys of tokens we don’t consider that in our ranking system because
the address isn’t actually a trader but they have access to the tokens before the tokens are tradeable or
they’re airdropped to them — they’re either tokens’ creators or advisors, promoters, farmers, etc)
The above data is available inside the main table in the Top section but for accessing such data for each
coin in the Legend and trending section, click on traders’ address. Main table in Legend and Trending
displays an average of tokens data.
A general understanding from the data in the tables is that the higher PnL(X) the better so we prefer
addresses with Diamond icon over others or Gold over Silver and Bronze.
Now go to the next step and look even deeper into the addresses.
Use the Birdeye or Zerion icons in front of traders to look at their portfolio and overall PnL. See if
they’ve been profitable and had reasonable performance overtime.
Use the Dexscreener icon to see a trade’s transactions on tokens. Check these in the transactions:
If a trader starts their trades with “sell” (before having any buys), it can be an indication of insider
trading. The trader had access to the tokens in advance or he might have created it. If he buys tokens and
sells them in different levels (DCA out), it can be a good address to copy. If sells are in one go, you
should pass that address.
If a trader’s sells are on tops and after them we see a large one-minute bear candle, it can be an indication
of insider trading, or the address is being copied by many traders so when the trader sells all the people
who copy him sell as well. This can lead to a dump in price — not a good address to copy.
See the time between buys and sells. If the times are too short such as 1,2, or 3 minutes technically you
can’t copy their trades because most of the time, it takes more than that for copy trading bots to catch
those trades. Plus, the trader is a scalper and the profits are often too small to copy. The higher time
between buys and sells the better.
You should also avoid MEV or arbitrage bots. These are addresses with numerous transactions in a short period
of time. For example, several transactions in a minute. MEV bots extract values from transactions by methods
such as sandwich attacks (buying a token right before you and selling it a bit higher to you), so their
addresses aren’t worth tracking/copying trades. The same goes for arbitrage bots because they try to find
nominal price differences between different CEX/DEX so they’re not worth copying either.
After finding a valuable address, you can use telegram bots to copy their trades.
