A look at the AFL ladder midway through Round 3 will have Hawthorn and their faithful smiling for more reasons than one, with Carlton's contrasting start to the 2025 campaign only strengthening a memorable off-season for the Hawks.

While Sam Mitchell and the club's list management unit were able to successfully acquire key defenders Josh Battle and Tom Barrass from St Kilda and West Coast respectively, another trade from the exchange window could be paying dividends for their draft hand.

The Hawks packaged their 2024 first-round selection - Pick 14 - to secure Carlton's opening two picks for this year's draft in a move that would eventually help them secure Barrass.

The Eagles acquired Hawthorn's first, second and third-round selections for the 2025 intake, with Barrass and a fourth-round pick for this year landing at Waverley in the swap.

The exchange saw the Hawks move on their own top future pick and instead hold onto Carlton's, backing in their potential rise up the competition while hoping the Blues would fall from the finals frame.

MELBOURNE, AUSTRALIA - MARCH 20: Nick Watson of the Hawks celebrates kicking a goal during the round two AFL match between Carlton Blues and Hawthorn Hawks at Melbourne Cricket Ground on March 20, 2025, in Melbourne, Australia. (Photo by Robert Cianflone/Getty Images)
MELBOURNE, AUSTRALIA - MARCH 20: Nick Watson of the Hawks celebrates kicking a goal during the round two AFL match between Carlton Blues and Hawthorn Hawks at Melbourne Cricket Ground on March 20, 2025, in Melbourne, Australia. (Photo by Robert Cianflone/Getty Images)

The early rounds of the new season have led the Hawks and Blues down different paths, with Mitchell's side sitting pretty atop the ladder undefeated after three games while Carlton remain winless in the wake of Friday's loss to the Western Bulldogs.

With six games still to play this weekend, including a Western Derby that'll see fellow winless sides Fremantle and West Coast battle, the Blues are set to plummet further from the 15th rung by the cessation of Round 3.

VIEW: CURRENT 2025 DRAFT ORDER

Melbourne too could leapfrog the Blues should they claim a maiden 2025 win over the Suns at the MCG on Saturday.

The Blues may find themselves in 17th on the ladder heading into a mouth-watering Round 4 meet with arch rivals Collingwood, with what could be Pick 2 in the draft order instead being held by the high-flying Hawks.

The second round selection that was also sent from Princes Park to Hawthorn's hands would also sit 20th overall in the draft queue.

While there may be a long road until the ladder is set - just ask the Hawks of 2024 - the early signs are swinging in favour of the brown and gold, who could be the competition's biggest premiership threat while concurrently holding one of this year's top draft selections and a second top 20 pick.

Hawthorn were able to inflict double damage on the Blues in Round 2 when they chalked up a 20-point victory over Carlton at the MCG, while the two clubs will meet again in late July, which could have significant ramifications on Carlton's September prospects and the Hawks' draft hand.

The Hawks hold one of five 2025 first-round selections that are in the hands of another club, with West Coast in possession of Hawthorn's top pick - currently Pick 18.

Essendon hold Melbourne's first-round selection - currently Pick 3, setting up an enticing matchup next month when the two sides meet at Gather Round, their only game against each other for the year.

Gold Coast will be enjoying Port Adelaide's early season struggles, having acquired the Power's top pick last year in the same deal that saw Dan Houston, Joe Richards, Jack Lukosius, John Noble and Rory Atkins move clubs.

The Suns also landed Collingwood's first-round pick for this year's count in the same deal, meaning they currently hold Picks 8 (tied to Port Adelaide), 12 (Gold Coast) and 15 (Collingwood) at the time of writing.

The trio of early selections will be vital for the Queensland club this year given their strong crop of Academy prospects in this year's class.

Richmond could hold two top five picks for this year's draft to add to their influx of first-round additions, having landed North Melbourne's top pick for 2025 via draft night last year.

The Roos and Tigers, who occupied the bottom two spots on the ladder in 2024, struck a deal that saw the latter secure North Melbourne's future first-round pick for Pick 27 and Richmond's 2025 second-round selection - currently Pick 23.