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This statistic appears to be programmed to display the highest rank available between weekly, monthly, quarterly, yearly and all-time (with a bias towards the longer-term in case of ties). You can check by clicking on the profiles of the leaders on the reputation leagues.


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It could be one or two things: caching - reputation leagues are updated once a day, the /users page more often. The 'reputation change' column in the reputation league includes reputation from so-called private reputation events: see Why is my total reputation less than my monthly reputation? on Meta Stack Exchange. For example, reputation gained on answers ...


4

Some explanation when something like this happens is given in this post on Mathematics Stack Exchange: Why is my total reputation less than my monthly reputation? (You might be also interested in other posts linked there, for example: What are private reputation events?) I will quote the answer posted there: The discrepancy is by design: Total reputation ...


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