Impermanent loss calculator with fee income
How much a 50/50 liquidity pool loses against simply holding the two tokens when their prices move, and how much the pool fees give back.
The formula
For a 50/50 pool, impermanent loss = 2 × √r ÷ (1 + r) − 1, where r is how much one token's price changed against the other. It does not depend on the direction: a 2x rise or a 50 % fall of one token both give about −5.7 %.
Worked example
$1,000 deposited, token A doubles, token B is flat: holding would be worth $1,500, the pool about $1,414 (−5.72 %). 20 % fee APR for 90 days adds about $49, so the pool ends about $36 behind holding.
Questions
Is impermanent loss permanent?
It becomes real when you withdraw. If prices go back to where they were, it disappears.
Do fees cover it?
Sometimes: the calculator adds an estimated fee income from the APR you type. Fee APRs change every day, so treat it as an estimate.
Does this work for pools that are not 50/50?
No. Weighted (80/20) and concentrated-liquidity pools lose differently; this calculator is for classic 50/50 pools.
Education only, not financial or tax advice.