Impermanent Loss Calculator

Understanding the result

Impermanent loss occurs because the price ratio between the two assets has diverged. Arbitrageurs trade against the pool to align its prices with the external market, which means your share of the pool ends up with more of the asset that went down (or went up less) and less of the asset that went up more.

The percentage is the gap between the two dollar figures beside it. It is not a loss taken out of your deposit, and it is not a fee. It is the difference between what the pool returns and what doing nothing would have returned, which is why the pool number can be comfortably above your deposit and still show a loss.

Only the gap between the two moves matters

Try it: enter +100% and 0%, then +200% and +50%. Both are 2x apart and both give 5.72%. The result depends purely on how far the two prices moved relative to each other, never on direction or on either price alone.

This is also why the loss is symmetric. Enter -50% and 0% and you get 5.72% again, because halving is the same ratio as doubling. And if both tokens move by the same percentage, the figure is zero no matter how large the move, because nothing diverged.

A rough ladder worth remembering: 1.5x apart is about 2%, 2x is about 5.7%, 3x is about 13.4%, and 5x is about 25.5%. Small moves are nearly free. Large ones are not, and the curve steepens as it goes.

What this calculator deliberately excludes

It shows divergence only. It does not include the fees you would earn, which are the entire reason to provide liquidity in the first place.

So a result of 5.72% is not a verdict. It is one half of a comparison. Estimate the other half with the LP Profit Calculator: if the fees over your holding period comfortably exceed the figure here, the position made sense. If they do not, holding the two tokens would have beaten it.

It also assumes a standard 50/50 pool that covers all prices. Concentrated-liquidity positions, which let you pick a price range, behave differently and can diverge considerably more inside that range.

Questions this calculator usually raises

Why does the pool value still beat my deposit? Because both assets went up. You made money and you made less than holding. Those coexist happily.

Do I realise this loss? Only when you withdraw. Until then the ratio can still move back, and if it returns to where you started the gap closes to zero.

Does a stablecoin pair avoid it? Almost entirely, while the pegs hold. Two assets pinned to the same value rarely diverge, which is also why those pools pay less.

Read our plain-language guide What is Impermanent Loss? for the worked example behind these numbers, or What is a Liquidity Pool? if the mechanics are the unfamiliar part.

Estimates only, for a standard 50/50 pool. FiLot is an analysis tool, not financial advice. Providing liquidity carries real risk of loss.