Opportunities / LP returns report
Concentrated liquidity returns: fees versus impermanent loss
Live data on 958 Uniswap, PancakeSwap, Aerodrome and Velodrome pools: how often a price range earned more in fees than it lost to impermanent loss over the last 7 days, with median fee APR and impermanent loss by pool type, range and chain. Updated hourly. Data as of 2026-10-15T05:00 UTC.
Key numbers
- 958 pools with an exact 7-day backtest.
- 66% of them had at least one backtested range that earned more in fees than it lost to impermanent loss; the median pool's best range earned a net APR of 2.7%.
- Volatile pairs, full range (800 pools): 62% beat holding the tokens; median fee APR 2.9%, median impermanent loss 2.3%.
By pool type and range
| Pool type | Range | Pools | Median fee APR | Median impermanent loss | Median net APR | Beat holding |
|---|---|---|---|---|---|---|
| Correlated pairs | ±0.5% | 36 | 0.5% | 0.1% | 0.2% | 78% |
| Correlated pairs | ±1% | 38 | 0.3% | 0.0% | 0.1% | 79% |
| Correlated pairs | ±3% | 40 | 0.1% | 0.0% | 0.0% | 80% |
| Stablecoin pairs | ±0.05% | 54 | 0.7% | 0.0% | 0.4% | 87% |
| Stablecoin pairs | ±0.1% | 75 | 0.6% | 0.0% | 0.5% | 91% |
| Stablecoin pairs | ±0.5% | 118 | 0.3% | 0.0% | 0.3% | 93% |
| Volatile pairs | full range | 800 | 2.9% | 2.3% | 0.6% | 62% |
| Volatile pairs | ±5% | 253 | 41.8% | 6.7% | 25.9% | 79% |
| Volatile pairs | ±10% | 587 | 44.1% | 38.9% | 8.1% | 61% |
| Volatile pairs | ±20% | 713 | 28.8% | 23.4% | 6.1% | 63% |
By chain (each pool's best range)
| Chain | Pools | Median net APR | Pools with a range that beat holding |
|---|---|---|---|
| Ethereum | 294 | 8.2% | 69% |
| BNB Chain | 233 | 8.7% | 67% |
| Base | 140 | 1.2% | 61% |
| Arbitrum | 130 | 1.7% | 68% |
| Polygon | 80 | 1.5% | 76% |
| Optimism | 54 | 0.5% | 57% |
| Robinhood Chain | 27 | -1.0% | 41% |
Top pools this week (TVL of at least $100k)
| # | Pool | Chain | TVL | Range | Net APR | Fee APR | Impermanent loss |
|---|---|---|---|---|---|---|---|
| 1 | LIT/WETH Uniswap v3 1% | Ethereum | $110k | full range | 1402547.4% | 1402551.5% | 4.0% |
| 2 | CASHCAT/WETH Uniswap v3 1% | Robinhood Chain | $2.8M | ±20% | 351.3% | 363.7% | 12.4% |
| 3 | CASHCAT/WETH Uniswap v3 0.3% | Robinhood Chain | $1.5M | ±20% | 322.3% | 336.0% | 13.8% |
| 4 | WLD/WETH Uniswap v3 1% | Ethereum | $208k | ±5% | 314.6% | 314.6% | 0.0% |
| 5 | WETH/USDT PancakeSwap v3 0.01% | Ethereum | $107k | full range | 252.7% | 256.0% | 3.2% |
| 6 | USDT/PROM PancakeSwap v3 0.25% | BNB Chain | $139k | ±20% | 244.7% | 372.9% | 128.3% |
| 7 | WETH/ETHFI Uniswap v3 0.3% | Ethereum | $403k | ±10% | 230.6% | 286.1% | 55.5% |
| 8 | FET/WETH Uniswap v3 1% | Ethereum | $1.5M | ±5% | 209.1% | 342.8% | 133.8% |
| 9 | WETH/VVV Uniswap v3 1% | Base | $377k | ±10% | 206.3% | 234.1% | 27.8% |
| 10 | WETH/VVV Aerodrome Slipstream 0.8% | Base | $717k | ±10% | 204.3% | 226.9% | 22.6% |
Signal track record, last 30 days
39 opportunity signals were scored 7 days after firing: 79% ended with a positive net APR; the median was 45.0% at the signal and 5.4% realised. See every signal.
How these figures are measured
Every hour LPSignal backtests 3–4 price ranges per pool on the pool's exact fee growth and subtracts impermanent loss against holding the two tokens; figures are per unit of liquidity in range, annualised from the last 7 days. Only hours with exact on-chain fees count here. "Beat holding" = a net APR above zero. A pool's best range is picked after the fact, so the per-chain figures are an upper bound for someone who had to choose in advance. The methodology.
Questions
How often does a concentrated-liquidity position beat holding the tokens?
Over the last 7 days, 66% of the 958 pools LPSignal backtests had at least one price range whose fees exceeded its impermanent loss; for volatile pairs, a full-range position beat holding in 62% of pools (as of 2026-10-15T05:00 UTC). Past results are not a forecast.
What does a liquidity position typically earn after impermanent loss?
The median pool's best range earned a net APR of 2.7% over the last 7 days; the median full-range position in a volatile pool earned 2.9% in fees, lost 2.3% to impermanent loss and netted 0.6%. Figures are annualised, per unit of liquidity in range, from exact on-chain fees.