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Uniswap v3の集中流動性プールにおけるインパーマネントロスについて理解しようとしています。もし私が狭い範囲で流動性を提供し、価格がその範囲を大きく外れた場合、実質的に価値の低い資産を100%保有していることになりますよね？そして、価格が私の範囲に戻ったとき、価格が範囲内にあった間に稼いだ手数料から利益を得ることを期待していますが、資産価格が離れてから戻ってきたことによる「損失」は依然として発生しており、それが手数料によって相殺されるだけなのでしょうか？ガス代と機会費用を考慮した真の損益分岐点を理解するために、これをモデル化する良い方法はありますか？
Yes, that's essentially correct. You're left holding the asset that depreciated in value. The fees you earn have to be enough to offset that loss, which is often not the case if the price swings widely and stays out of range for long.
That's exactly right on the 100% less valuable asset point once price moves out of range. The key is whether those fees earned while in range can offset that potential loss. Have you looked into how often prices actually re-enter your initial tight range, or do they tend to just keep trending?
That's how I understand it too. So, the key is really about how often the price returns to your range, and whether the fees earned during those periods outweigh the impermanent loss when it moves outside? It feels like a tough balance to strike.
That's largely correct. You'd be holding 100% of the less valuable asset outside your range. The question then becomes whether the fees earned during the in-range period sufficiently offset the opportunity cost of holding that asset versus simply holding it yourself.
Traderforum · 日本語