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Impermanent Loss Calculator

Enter how much each asset has moved since you entered the pool — get the loss versus simply holding, in percent and dollars, before fees.

Impermanent loss
-5.7%
LP value vs. just holding the two assets
In dollars
-$85.79
on a $1,000.00 deposit
Value if you had just held$1,500.00
Value as LP (before fees)$1,414.21
HODL return+50%
LP return (before fees)+41.4%
Relative price ratio2×
-3%-29%-55%0.1×4×
IL vs price ratioYour position

The curve is the same for every 50/50 pool — only the relative price ratio matters. Trading fees earned are not included.

Compare with single-sided staking yield

Estimates only — not financial advice.

Quick answer

Impermanent loss is how much less a liquidity-pool position is worth than simply holding the two tokens, once their prices diverge. A 2x divergence costs about 5.7%; a 4x about 20%. Enter how far each asset moved and this tool shows the loss versus holding, in percent and dollars, before fees earned.

How this is calculated

A 50/50 constant-product pool holds your deposit at the geometric mean of the two assets' growth, while simply holding keeps the arithmetic mean — and the geometric mean is never higher. With r as the relative price ratio between the assets, the gap is IL = 2√r ÷ (1 + r) − 1: zero when the assets move together, −5.7% at a 2× divergence, −20% at 4×, and −100% if one asset goes to zero.

Only the ratio matters: a +300%/0% move and a +100%/−50% move leave your portfolio at very different values, but both are a 4× ratio — and both cost the same 20% versus holding. Trading fees and liquidity-mining rewards are excluded — they're the compensation you should weigh against this number.

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Frequently asked questions

What is impermanent loss?
When you provide liquidity to a 50/50 pool, the pool constantly rebalances between the two assets. If their prices diverge, that rebalancing leaves you with less value than if you had simply held both coins in a wallet. The gap between the two outcomes is impermanent loss.
Why is it called 'impermanent'?
Because it only becomes real when you withdraw. If the two assets return to their original price ratio, the loss shrinks back to zero. Withdraw while prices are diverged, and the loss is locked in — permanently.
Don't trading fees make up for it?
That's the entire bet of being a liquidity provider: fee income must outrun impermanent loss. This calculator shows the loss side only — compare it against the pool's advertised fee APR to judge whether the position actually pays.
Is there impermanent loss in stablecoin pairs?
Almost none while both coins hold their peg, since the price ratio barely moves — that's why stable-stable pools can run huge volume at tiny fees. The exception is a depeg, which is exactly the −100% edge this calculator can model. See real rates on the stablecoin yields page.
Does this apply to concentrated liquidity (Uniswap v3)?
The numbers here are for a classic 50/50 full-range pool. Concentrated positions earn more fees but suffer amplified impermanent loss inside their range — treat this calculator's result as the floor, not the ceiling, of what divergence can cost there.

Related guides

Impermanent Loss Explained: Why Your LP Position UnderperformedImpermanent loss in plain numbers: the divergence table from 1.1× to 10×, why fees are the other half of the math, and when LPing actually beats holding.

Related calculators

Staking CalculatorYield without divergence risk, for 46 PoS coinsStablecoin YieldsUSDC/USDT/DAI rates compared, with risk notesCompound Interest CalculatorProject any APY over time

Disclaimer: This tool provides educational estimates only — it is not financial, investment, or tax advice. Crypto assets are volatile; past performance does not guarantee future results. See our methodology and full disclaimer.