Sanity Check: How is Uniswap calculating a ~200,000%+ APR for the ETH-WBTC Unichain pool?

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Sanity Check: How is Uniswap calculating a ~200,000%+ APR for the ETH-WBTC Unichain pool?

I looked through their docs to get some insight into how this is calculated specifically and found only the most vague of blog posts.

Also, Uniswap is mistakenly inverting "24h fees" and "24h volume," right?

It seems like a bizarre mistake to be making (unless I'm missing something huge?), but it's reporting ~9x the amount in fees over the past 24 hours that it says it did in trade volume for this pool on the new(ish) 'Dynamic' fee tier:

https://app.uniswap.org/explore/pools/unichain/0x410723c1949069324d0f6013dba28829c4a0562f7c81d0f7cb79ded668691e1f

Stuff obviously would've been crazier of course because ETH just came down ~13% or whatever, but like whaaa

submitted by /u/ThenOwl9
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