Level in competition? Not quite (4)
I believe the answer is:
even
'level' is the definition.
('even' can be a synonym of 'level')
'competition? not quite' is the wordplay.
'competition?' becomes 'event' (competition is a kind of event).
'not quite' means to remove the last letter.
'event' with its final letter taken off is 'EVEN'.
'in' is the link.
(Other definitions for even that I've seen before include "no-win situation?" , "Commensurate" , "end of the day, reading poetry" , "happening to take time off?" , "Like 2, 4 or 6, say" .)