Every Orca Whirlpool, ranked by what a hedged position would actually clear per day after the cost of the token moving. New pools are flagged as they appear.
| Pool | Net / day | Pool avg | Your earns | Needs | Edge | Moves / day | Range | TVL | Vol 24h | Age |
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Fee window picks how recently the fee income is measured, using Orca's own figures for each period — the same ten windows its own interface offers. Short windows surface pools that only started trading today, but five minutes of fees extrapolated to a daily rate is extremely noisy, so confirm on 24 hours or 7 days before acting. Net per day is the fee yield a position at the suggested range would earn, minus what the token's own movement costs it. That's the number that decides whether a pool is worth your money. Edge is the ratio of those two — a safety margin, not a return. Click a row, then Plan this pool to carry the numbers across.
Edge alone was misleading. It's a ratio, so a sleepy pool with almost no fees and almost no volatility can score 36× while earning $0.51 a day per $1,000. A busy pool scoring 3× earns $2.41. Ranking uses net yield per day, with edge kept as a second column so you can still see how much headroom a pool has before fees stop covering the movement.
Reading them together: high net and edge above 1.5 is the sweet spot. High net with edge near 1 means the pool pays well but has no margin for error — a quiet week kills it. High edge with low net is safe and not worth the effort.
New pools are found from the pool's own 7-day price history. Orca returns 14 slots covering a week, and a pool younger than that has empty leading slots, which gives its age to within half a day. The scanner also remembers every pool address it has seen before in this browser, so anything appearing for the first time is marked even if it's older than a week. Star a pool to keep it on your watchlist.
Short windows are noisy on purpose. A 5-minute window extrapolates five minutes of fees into a daily rate, so a single large swap can make a pool look like it yields hundreds of percent. Use the short windows to notice a pool, then switch to 24 hours or 7 days before believing the number. A row tagged 24h data means Orca didn't return the chosen window for that pool, so the 24-hour figure stands in.
Why a figure here can differ from Orca's own. Orca's position screen quotes the yield for the exact range you've drawn; this table quotes it for the suggested range, which is usually much wider, so the number here is lower. Both also price liquidity in the pool's quote token — for a pool quoted in SOL rather than a stablecoin, that has to be converted to dollars before fees and costs can be compared. Pools where the liquidity figure can't be reconciled fall back to a TVL-based estimate, which the detail panel states.
Treat a new pool's numbers as unreliable. A few days of fees on a thin pool says very little, and volatility measured from four price points says less. Watch it for a week before committing anything.
One range, one short. Enter the pool and what you want to invest; it works out the exact deposit split, the short that matches it, and what happens at every end price.
Set the range once. Below and above can differ — a wide range is rarely an even split, and the planner sizes the deposit accordingly.
Leverage sets how much margin the short ties up. It does not change the hedge: shorting 0.11 ZEC hedges 0.11 ZEC whether it's 1x or 10x. What breaks neutrality is the price moving, and a narrow range breaks it about twice as fast.
Take a day's fees on Orca and divide by the position's value. Say which range that reading came from — a tight range earns far more per dollar than a wide one, so the same number means very different things.
No rebalancing, no range adjustment. Fees assume the price stayed inside the range if it ends inside, and less of the period the further outside it ends.
Uneven ranges. For a range [Pa, Pb] at price P the pool takes token = L(1/√P − 1/√Pb) and USDC = L(√P − √Pa). Those are only equal when the range is symmetric in √price, so a −20% / +20% range is not a 50/50 deposit, and a −40% / +80% range is further off still. The planner solves the exact amounts and sizes the short against the token side, so you deposit what Orca will actually accept.
The short, and what leverage does. Your LP's exposure is its token balance, so the matching short is that many tokens — that is the whole hedge. Leverage only decides how much margin those tokens tie up: shorting 0.11 ZEC at 4x is the same hedge as 0.11 ZEC at 2x, with half the margin and a closer liquidation price. Raising leverage without raising the token count changes nothing about neutrality; raising the token count past the LP's balance is no longer a hedge, it is a bet that the price falls.
Drift is the real problem, and range width sets its speed. The match is exact only at today's price. As the price rises the LP sells tokens and the short becomes too big; as it falls the LP buys and the short becomes too small. A narrow range packs the same money into a smaller span, so the token balance swings through its whole span over a smaller move: a ±15% range goes off by a quarter after roughly a 3% move, where ±30% takes about 6%. Same hedge, twice the drift speed. That is why a tight range needs re-hedging and a wide one can be left alone.
Fee yield and range width. Liquidity concentrates as the range narrows, so the same dollar earns more fees in a tight range: roughly four times as much at ±5% as at ±20%. Tell the planner which range your reading came from and it scales the yield to the range you're planning. Leave that box blank if the figure already came from this exact range. The catch is that the same concentration multiplies the loss when the price moves, so a tight range raises both sides of the ledger, not just the income.
Fees and costs. Fee income is your position's value times the daily yield, earned only while in range. Costs are the swap into the token, the perp fee on opening and closing (0.015% post-only, 0.045% market on Hyperliquid, doubled on HIP-3 markets; Aster's maker fee is currently 0%), and funding, which is added when it pays shorts.