I have some experienced in trading competition although it's happen in the recent like in this month, i participated in DOGS coin trading competition in the bybit exchange, but here a requirement was like minimum 500$ worth of trading and more trading volume will give more coins, i will suggest don't start trade with big amount, because if which coin is huge dump then you can not recover it easily.
Trading competition right now don't really feel like a competition, most of exchanges just offered pooled reward with minimum trading volume to be eligible and that's it, so I don't think we really need to raises 24h trading volume with that much amount of money, even leveraged trade will be sufficient.
It's just that, most of trading competition just feels like a waste of time, since reward is pooled anyway, we probably just gonna get pennies out of these event, I just never participated into these competition anymore, because the centralized exchange have ulterior motive of attracting new users and don't really reward based on performance.