Impermanent Loss Calculator
See how much a liquidity pool underperforms simply holding the two tokens when their price ratio moves — for a standard 50/50 constant-product pool (Uniswap v2 style).
Results
What is impermanent loss?
Impermanent loss is the difference in value between providing liquidity to a 50/50 pool and simply holding the two tokens outright. It happens because a constant-product pool automatically sells the token that goes up and buys the token that goes down to keep the pool balanced — so if one token's price moves a lot relative to the other, the pool ends up holding less of the winner than you would have by just holding. The loss is "impermanent" because it disappears if the price ratio returns to where it started; it only becomes a permanent, realized loss if you withdraw while the price has diverged. It ignores trading fees earned as an LP, which in an active pool can partly or fully offset it.