# Gas Leaves Just 18% of Small Uniswap v3 Positions Beating Holding

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/33748
Published: 2026-10-17T05:10:21.000Z
Updated: 2026-10-17T05:10:21.000Z
Section: Investing

> Across 71,166 closed positions of all sizes, 34% beat holding after gas; the combined gap across positions, including those still open, was $20.4 million.

Only 18% of small Uniswap v3 liquidity positions beat holding after Ethereum gas over a year, showing how gas narrowed relative returns for providers with deposits below $1,000.

For closed regular positions with deposits under $1,000, 18% outperformed holding after gas, down from 51% before gas. Median gas for that group was 67 cents. The measure compares the value of tokens returned plus collected fees with the value of the original deposit tokens at exit, then deducts gas.

Data cover about 121,000 positions from roughly 17,400 wallets across eight Ethereum Uniswap v3 pools selected because they had the most new positions in mid-2026. The observation period ran from Oct. 14, 2025, through Oct. 13, 2026. Among 71,166 closed regular positions of all sizes, 34% beat holding after gas, compared with 49% before gas. The win rates exclude positions still open at the cutoff and positions opened and closed within one block.

The percentages measure outperformance against holding, not the number of positions with a dollar loss. Across all positions, including those still open at the cutoff, collected fees totaled $41.6 million. Token inventory value was $60.6 million below the holding benchmark, and gas totaled $1.4 million, leaving the combined result $20.4 million behind holding.

Uniswap v3 providers choose a price range for deposits. A position stops earning fees when the market moves outside that range and resumes only if prices return. Price movements can also alter the tokens held in a position, leaving its value below the value of keeping the original deposit.

During a July 15-Oct. 13, 2026, activity window, daily liquidity additions on Uniswap v4 rose from 1,288 in the first week to 4,474 in the final week, while v3 mints stayed near 1,300. Those counts track liquidity activity rather than returns, and they do not establish whether v4 positions beat holding. The v4 fee records differ from v3’s, preventing a matched performance comparison.

Uniswap v4 uses flash accounting to track balance changes inside a transaction and settle net token transfers at the end. That design can reduce transfer overhead in multi-step operations, while v4 retains concentrated liquidity, in which providers select the price range where deposits are active.

Uniswap Labs launched VolatilePair Hook on Ethereum on Oct. 14, after the measurement period ended. The hook launched with Ether (ETH)/USDC and recalculates separate buy and sell fees on each swap based on recent price moves.