Fee tier is not yield
A 1% fee tier on a ghost pool with no swaps pays nothing. A 0.05% tier on a massive ETH/USDC pool can still print because volume is enormous.
Rough mental model:
daily fees ≈ volume_24h × fee_rate your share ≈ your_active_liquidity / pool_active_liquidity_in_overlapping_ticks
Concentrated positions amplify share when competing LPs are wider than you.
Reading the Pool Explorer
- - **TVL** — depth and competition. High TVL often means lower APR unless volume scales with it.
- - **Volume 24h** — demand for swaps through the pool.
- - **Fee APR** — trading fees ÷ TVL over the last 7 days, after the protocol's cut (Uniswap's fee switch keeps 1/4 to 1/6 of fees on many pools; PancakeSwap v3 keeps 32%), incentives excluded. It is what an *average* pool dollar earned, not what your range will earn; the calculator scales it for your width and time in range.
Emissions vs fees
On venues like Aerodrome, emission APR can dwarf fees. Treat emissions as separate, often volatile, and possibly diluted. DefiLPKit's Truth Label focuses on fee − IL − gas so you do not confuse incentive farming with sustainable LP yield.
Takeaway
Chase volume through your ticks, not the flashiest fee percentage. Use filters, then simulate.