I've been making my furled leaders either out of Isacord 40 or Mono, mostly Cortland Camo 2 lb. When I lay out my loops ,if it's to be a floating leader I'll rub a rag with Alboline on it down the legs a few times & then again after I furl it. They float most of the day.
If your putting on the wax after the leader is waterlogged it's like closing the barn door after th horse is out, in other words it's too late, put it on while the leader is dry.
I read , somewhere on this Forum, that a good floor wax will work if you put it on when making the leader & I've made a few using Min-wax but haven't had a chance to test them yet. I also read that some people dip them in varnish & then hang them & wipe them down to get the excess off & that's supposed to both waterproof them & toughen them up