Impermanent loss calculator

Compare a 50/50 constant-product liquidity position with holding both tokens. Estimate impermanent loss and the fee income needed to offset it.

Inputs

Hypothetical example. Replace these inputs with your own.

50/50 constant-product, full range. Fee income is an external USD addition.

Result

Calculation result

Example result

Impermanent loss relative to holding: -5.7191 %
Pool shortfall against holding: 85.79 USD
Value of holding both tokens: 1,500 USD
Pool value before fees: 1,414.21 USD
Net fees earned separately: 50 USD
Pool value plus net fees: 1,464.21 USD
Pool plus fees compared with holding: -35.79 USD
Net fees needed to match holding: 85.79 USD
Pool return including net fees: 46.4214 %
Initial Token A quantity: 5 Token A
Initial Token B quantity: 500 Token B
Final pool Token A quantity: 3.5355339059 Token A
Final pool Token B quantity: 707.1067811865 Token B

50/50 constant-product, full range. This compares the modeled pool with holding the same initial token quantities.
Net fees are a separate USD addition. They are not compounded into reserves or assumed to remain fixed after price changes.
Impermanent loss is relative to holding; the pool can still have a positive USD return. Concentrated liquidity, stable-swap and weighted pools, incentives in another asset, protocol losses, taxes and liquidity changes are excluded.

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Formula and worked example

50/50 constant-product, full range. If token price multiples are a and b, holding value = initial value × (a + b) ÷ 2; pool value = initial value × √(a × b). Impermanent loss is the pool’s relative shortfall against holding. Separately paid USD fees are added without compounding reserves.

Hypothetical example: $1,000 split between token A at $100 and token B at $1 buys 5 A and 500 B. If A rises to $200 while B stays $1, holding is worth $1,500 and the pool about $1,414.21. IL is −5.7191%. Adding $50 net fees leaves a $35.79 shortfall to holding. Concentrated liquidity, stable-swap pools, incentives, protocol losses and tax are outside this model.

These estimates use bounded decimal arithmetic. They are scenario calculations, not trading instructions or forecasts.

Methodology sources: Uniswap v2 constant-product model