Trader tools
How much a liquidity position gives up versus simply holding when prices drift apart.
Use -50 for a halving and 100 for a doubling. If both move together, the ratio is what counts.
Adds the dollar difference between holding and providing liquidity.
Results appear here as you type.
Still needed: price change
This models a standard 50/50 constant-product pool. If the price ratio between the two tokens changes by a factor k, the pool is worth 2 x sqrt(k) / (1 + k) of what holding would be worth.
Impermanent loss is that value minus 1, shown as a percentage. It is the same whether the ratio rises or falls by the same factor, and it is zero when the ratio is unchanged.
Trading fees earned by the pool are not included. They can offset the loss or exceed it. The loss is called impermanent because it shrinks if the ratio returns to where it started.
Educational use only, not financial advice. This calculator works only from the numbers you type. It does not use live prices and it cannot predict what a market will do.
