Real-time portfolio tracking
A hedged DeFiDeFiDecentralized Finance — financial services without intermediaries, operating through smart contracts.Read the lesson → portfolio has a lot of moving parts — collateral, debt, an LPLPLiquidity Provider — deposits tokens into a pool and earns a share of trading fees.Read the lesson → position, options. Once you learn to track them, it becomes possible to run the whole system in a few minutes a week — you know how to read everything and when to react.
A simple analogy
Portfolio tracking is like a car dashboard. Speedometer, fuel level, engine temperature — you see everything at a glance. If something turns red — you stop and check.
Core metrics
1. LTV (Loan-to-Value)
| LTV | Zone | Action |
|---|---|---|
| < 30% | ✅ Safe | Do nothing |
| 30-45% | ✅ Normal | Monitor |
| 45-55% | ⚠️ Warning | Prepare a plan |
| 55-65% | 🔴 Dangerous | Pay down part of the debt |
| > 65% | 💀 Critical | Act immediately! |
Where to check: KaminoKaminoSolana lending protocol. In our strategy: SOL collateral to a USDC loan.Read the lesson → dashboard or AaveAaveEthereum lending protocol (v3). In our strategy: ETH collateral to a USDC loan.Read the lesson → dashboard
Before you use this table — know which LTV you are reading
On the KaminoKaminoSolana lending protocol. In our strategy: SOL collateral to a USDC loan.Read the lesson → screen you see the raw LTVLTVLoan-to-Value — the ratio of debt to collateral value. LTV 30% is considered safe. LTV 83%+ triggers liquidation.Read the lesson →: debt / collateral. This course computes a
conservative LTVLTVLoan-to-Value — the ratio of debt to collateral value. LTV 30% is considered safe. LTV 83%+ triggers liquidation.Read the lesson → with safety weights: (debt × 1.05) / (collateral × price × 0.90).
For the same portfolio the two differ — e.g. 42.4% vs 49.5%. The zones above are written for
the conservative number.
And more importantly: the liquidation threshold is a property of the collateral, not of the protocol. On KaminoKaminoSolana lending protocol. In our strategy: SOL collateral to a USDC loan.Read the lesson → it is 0.75 (75%) for SOLSOLSolana's native token. Used to pay gas and as collateral.Read the lesson → collateral and 0.90 (90%) for USDCUSDCA USD stablecoin issued by Circle. Regulated, audited monthly. Our primary stablecoin and loan asset in the Kamino/Aave strategies.Read the lesson → collateral. KaminoKaminoSolana lending protocol. In our strategy: SOL collateral to a USDC loan.Read the lesson → Lend V2 runs ~40 markets with parameters set by different curators, so check the threshold in the market where you actually open the position. Values checked 2026-09-05 and they change.
2. Net delta
Net delta = collateral + LP delta + options delta
Our target: +56.5 (~45% exposure)
Delta too high (>50%): paying for too much price risk
Delta too low (<15%): overpaying for protection
3. Daily carry (net daily earnings after all costs)
Daily carry = LP fees − |theta| − debt cost
Example: 5.95 − 3.25 − 0.77 = +$1.93/d
Positive = net flow in your favour ✅
Negative = the position costs you every day ❌
Reference point from the lesson example: ~$1.93/d
The theta sign — the most common spreadsheet mistake
For options you have bought, theta is usually already a negative number (e.g. −3.25).
So: if you take theta with its sign, the formula is LP fees + theta − debt cost;
if you take it as a cost magnitude (unsigned), the formula is
LP fees − |theta| − debt cost. Both give the same result. Subtracting an already-negative
theta a second time — or adding the debt cost instead of subtracting it — will show a
positive carry where it is actually negative.
4. LP status
| State | Fees | Action |
|---|---|---|
| In range | ✅ Generating | Nothing |
| Out of range < 24h | ❌ Stopped | Monitor |
| Out of range > 72h | ❌ Long without fees | Rebalance |
5. Options DTE (Days to Expiry)
| DTE | Action |
|---|---|
| > 60d | Nothing |
| 30-60d | Monitor, plan the roll |
| < 30d | Roll the Put Spread! |
| < 7d | Critical — if not rolled, act now |
Tools for portfolio tracking
DeFi protocol dashboards
About the Deribit link and EU protection
Affiliate link. If you register through the link above, this site may receive compensation. That does not change the lesson's content, but you should know it.
Regulation. DeribitDeribitA crypto options exchange. In our strategy this is where we buy put protection and sell covered calls.Read the lesson → does not hold an EU MiFID II licence. EU retail clients are served by DRB Panama Inc., so EU investor protection and compensation schemes do not apply. Regulated EU alternatives for options: OKX Europe (Malta), Crypto.com (Cyprus). Bybit EU does not offer options. This is not a recommendation — check any provider in the ESMA register yourself.
Aggregator tools
| Tool | What it does | Cost |
|---|---|---|
| DefiLlama | General DeFiDeFiDecentralized Finance — financial services without intermediaries, operating through smart contracts.Read the lesson → portfolio view | Free |
| Zapper | WalletWalletA crypto wallet. Phantom (Solana), MetaMask (Ethereum). Holds your keys.Read the lesson → holdings tracking | Free |
| Step Finance | SolanaSolanaA fast blockchain (under 1s, gas under $0.01). Home to the Kamino, Orca and Meteora ecosystem.Read the lesson → portfolio dashboard | Free |
| DeFi Risk OS | The whole strategy in one place | In development |
Alert system
What alerts do you need?
LTV alert (Kamino/Aave)
When LTV crosses 40% — email or Telegram notification. When it crosses 50% — urgent notification.
LP out-of-range alert
When the SOL/ETH price moves outside the LP range — notification. Early on you can use price alerts (CoinGecko).
Options expiry alert
30 days before options expiry — notification to roll. Can be set in a calendar.
Price alert
SOL/ETH price drops >15% in 24h — check LTV and LP. Can be set via CoinGecko or TradingView.
Where to set up alerts?
Weekly checklist
Chains are never mixed: on the SolanaSolanaA fast blockchain (under 1s, gas under $0.01). Home to the Kamino, Orca and Meteora ecosystem.Read the lesson → path you work with KaminoKaminoSolana lending protocol. In our strategy: SOL collateral to a USDC loan.Read the lesson → and OrcaOrcaA Solana DEX with concentrated liquidity (Whirlpool). The basis of our LP strategy on the Solana network.Read the lesson →, on the EthereumEthereumA blockchain with smart contracts. We use Aave (lending) and Uniswap (LP) on it.Read the lesson → path with AaveAaveEthereum lending protocol (v3). In our strategy: ETH collateral to a USDC loan.Read the lesson → and UniswapUniswapAn Ethereum concentrated-liquidity protocol (V3/V4). Its Solana counterpart is Orca.Read the lesson →. Pick your path and check only its rows.
8 minutes a week
A full portfolio review takes about 8 minutes a week. That's not much — but it's exactly enough to keep LTVLTVLoan-to-Value — the ratio of debt to collateral value. LTV 30% is considered safe. LTV 83%+ triggers liquidation.Read the lesson → in the safe zone and to make sure you're steering the position, not the other way around.
Summary
A dashboard doesn't have to be an app — a simple sheet is enough. Task: build your own tracking sheet with this lesson's metrics (~15 min, no trades).
This is learning, not investing — use only small amounts you treat as tuition.
You just put together a working tracking dashboard with your own alert thresholds — now you can read the portfolio's state in a few minutes, something most people never learn to do.