Cryptic crossword clue
Fish on boat repelled by the water 8

The most common and most likely answer to this crossword clue is the 8 letter word POOLSIDE

I've seen this crossword clue in Financial Times
P
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Buddy explains!

The straight part
We know that "by the water" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case by the water = poolside.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does POOLSIDE mean?

POOLSIDE noun
  1. The area beside a pool.
POOLSIDE adjective
  1. By the side of a pool.
POOLSIDE adverb
  1. Beside a pool.

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