Hey, I like to post some of Fairy Tail's most powerful characters in the Alvarez Empire Arc around Chapter 490. Here is a list of the top 35 right now:
Top 35 List
01. "Black Dragon King" Acnologia
02. "Emperor Spriggan" Zeref Dragneel
03. "Fairy Tactician" Mavis Vermilion
04. "Scarlet Dispair" Irene Belserion
05. "Magic King" August
06. "Salamander" Natsu Dragneel (X792/Fire Dragon King Mode)
07. "Hybrid Theory" God Serena
08. "Ace of Fairy Tail" Gildarts Clive
09. "Thunder God" Laxus Dreyar (X792)
10. "Heavenly" Jellal Fernandes (X792)
11. "Grim Reaper" Bradman
12. "The Adjudicator" Wahl Icht
13. "Valkyrie" Dimaria Yesta (God Soul: Chronos)
14. "Black Steel" Gajeel Redfox (X792/Dragon Force)
15. "Country Demolisher" Brandish μ
16. "Sky Goddess" Sherria Blendy (X792/Third Origin Release)
17. "Desert King" Ajeel Ramal
18. "Stealth Assassin" Jacob Lessio
19. "Historia of the Dead" Neinhart
20. "Titania" Erza Scarlet (X792)
21. "White Ribbon" Kagura Mikazuchi (X792)
22. "Ice Devil" Gray Fullbuster (X792/Ice Devil Slayer)
23. "She-Demon" Mirajane Strauss (X792/Satan Soul: Seilah)
24. "Fairy Tail's Master" Makarov Dreyar (X792)
25. "Iron Rock" Jura Neekis
26. "2nd God of Ishgar" Draculos Hyberion
27. "3rd God of Ishgar" Wolfheim
28. "4th God of Ishgar" Warrod Sequen
29. "Princess" Lucy Heartfilia (X792/Star Dress: Leo Form)
30. "Sky Sorceress" Wendy Marvell (X792/Dragon Force)
31. "Dark Enchanter" Freed Justine (X792)
32. "Ace of Sabertooth" Minerva Orland (X792)
33. "The Shadow Dragon" Rogue Cheney (X792)
34. "The White Dragon" Sting Eucliffe (X792)
35. "Great Sea" Juvia Lockser (X792)