Impermanent Loss Calculator
Free impermanent loss calculator for constant-product liquidity pools: see your loss versus holding, the pool token amounts, break-even fees and an impermanent loss chart for any price change.
How the pool compares
| Strategy | Value now | vs. deposit | vs. pool |
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Impermanent loss by price change
Horizontal axis: how much the price ratio B ÷ A has changed since you deposited (log scale). The dot marks your scenario. Loss is the same whichever token moves — and the same for a 2× rise as for a halving.
| Price ratio changes by | Impermanent loss |
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Show the full calculation
What is impermanent loss?
When you supply two tokens to an automated market maker such as Uniswap, the pool rebalances as prices move, so you end up with more of the token that fell and less of the one that rose. Compared with simply holding the two tokens, the pool position is worth less — that gap is impermanent loss. It is “impermanent” because it disappears if the price ratio returns to where it started.
How this calculator works
- You deposit equal dollar values of Token A and Token B. The pool keeps k = A × B constant, so when the price ratio becomes r the pool holds √(k × r) of A and √(k ÷ r) of B.
- Impermanent loss = pool value ÷ held value − 1, which equals 2√r ÷ (1 + r) − 1 for a price-ratio change of r (about −5.7% at 2×, −20% at 4×, −25.5% at 5×).
- Enter the fees earned (as a percent of the pool value) to see whether trading fees cover the loss, and how much fee income you would need to break even.
- The comparison table also shows what you would have if you had swapped everything into just Token A or just Token B on day one.
This ignores gas costs, taxes and concentrated-liquidity ranges (Uniswap v3), where losses can be larger. Nothing is sent to a server, and none of this is financial advice.
Excel spreadsheet version · Constant Product Automated Market Maker explained · More MES calculators