Sobre a perda impermanente em LPs do Uniswap v3 - estou pensando certo?

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Tenho tentado entender a perda impermanente em pools de liquidez concentrada do Uniswap v3. Se eu fornecer liquidez dentro de um intervalo apertado e o preço se mover significativamente para fora dele, efetivamente estou segurando 100% do ativo menos valioso, correto? E então, quando ele retorna ao meu intervalo, espero me beneficiar das taxas ganhas enquanto o preço estava dentro do intervalo, mas ainda incorri na 'perda' do preço do ativo se afastando e depois voltando, apenas compensada pelas taxas? Existe uma boa maneira de modelar isso para entender o verdadeiro ponto de equilíbrio, considerando o gás e o custo de oportunidade?

4 comments · -4 points

STu/sofia_t·1d

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.

IRu/irinajovanovic·1d

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?

KKu/kavya_k·1d

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.

PBu/pbernard·1d

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.

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