Impermanent Loss Calculator
Impermanent Loss Calculator estimates Uniswap V2 50/50 constant-product IL from two token price moves versus holding. Fee income excluded; not for V3.
Relative price change reference
| Relative price change | Impermanent loss |
|---|---|
| 1.1× (+10%) | -0.11% |
| 1.25× (+25%) | -0.62% |
| 1.5× (+50%) | -2.02% |
| 2× (+100%) | -5.72% |
| 3× (+200%) | -13.40% |
| 4× (+300%) | -20.00% |
| 5× (+400%) | -25.46% |
| 10× (+900%) | -42.50% |
| 0.75× (-25%) | -1.03% |
| 0.5× (-50%) | -5.72% |
| 0.25× (-75%) | -20.00% |
| 0.1× (-90%) | -42.50% |
Calculations and checks on this page run in your browser. Private keys and seed phrases are never uploaded to the server.
About this tool
Impermanent Loss Calculator evaluates AMM liquidity: in a constant-product pool (x·y=k), price moves rebalance the LP position; the gap versus simply holding is impermanent loss.
If relative prices return to the initial ratio, IL can unwind; withdrawing while prices diverge crystallizes it as realized loss.
This page uses a 50/50 Uniswap V2 analytic model without swap fee income. Uniswap V3 concentrated liquidity behaves differently—do not apply this formula directly.
How to use
- Enter initial notional deposit.
- Enter token A/B price-change percents since deposit (negative for declines).
- Review IL percent and LP vs hold value comparison.
- Use the reference table for IL magnitude under other relative-price paths.
FAQ
What is the impermanent loss (IL) formula?
When the relative price ratio becomes r, IL = 2√r/(1+r) − 1. Roughly −5.72% at r=2 and −20% at r=4.
Is there IL if both tokens rise or fall together?
If both move by the same percent, relative price is unchanged and IL is 0; IL depends only on the relative-price path.
Can trading fees cover impermanent loss?
Depends on volume, fee tier and volatility—net positive outcomes are possible but not guaranteed; model fee APR separately.
Do stablecoin LPs face impermanent loss?
While pegs hold, IL is usually tiny; if one side depegs, relative-price drift can produce large IL.