The number that decides it
Not yield — range time. A concentrated position earns only while price is inside its bounds, and how often that fails is a function of width and volatility, not of effort:
| Width on SOL | Average time in range | Rebuilds per month |
|---|---|---|
| ±5% | ~1.5 days | ~20 |
| ±10% | ~5.7 days | ~5 |
| ±20% | ~21 days | ~1.4 |
Twenty rebuilds a month is not a hobby, it is a shift. Which is why manual providers end up at ±15–20% — not because it is optimal, but because it is survivable. That is a real cost: the wider range earns roughly a quarter the fee rate of the narrow one.
What manual management genuinely wins
- You keep your keys. Nothing signs for you. For many people that ends the discussion, and it should be respected rather than argued around.
- No third-party failure mode. A bot has bugs — a stale balance read, for example, can make it open a position far smaller than intended. Bugs get fixed, but a system that does nothing cannot do the wrong thing.
- No subscription. Your time instead of a fee.
- You learn the mechanics. Genuinely valuable, and automation hides it.
What a bot genuinely wins
- Reaction speed. A check about every 2 minutes versus whenever you next look.
- Narrow ranges become usable — the fee-rate difference above.
- No missed nights. Price does not leave your range at convenient hours.
- Consistency. No skipped rebuild because it was a bad week.
- Several pools at once without multiplying the attention.
A straight recommendation
| Situation | Do this |
|---|---|
| Under ~$500, learning | By hand, wide range |
| Delegating signing is unacceptable | By hand, or a vault like Kamino |
| You enjoy it and check daily | By hand — genuinely fine |
| Narrow ranges, several pools | A bot |
| You will not be checking at 3am | A bot |
If you are managing by hand, the tools here work without an account: the range optimizer, the IL calculator and the measured pool table.