Impermanent Loss Calculator
Estimate impermanent loss for a 50/50 Uniswap V3 or PancakeSwap V3 position. Enter the price when you opened the pool, the current price, how much you deposited and the fees you have earned so far.
How is impermanent loss calculated?
For a 50/50 constant-product pool, impermanent loss depends only on the price ratio between when you deposited and now. Let k = sqrt(current_price / initial_price). The LP position is worth 2k / (1 + k²) times what you would have if you had simply held both tokens. Impermanent loss is that ratio minus 1 (always zero or negative). Multiply by your initial USD position to see the loss in dollars.
The number above is before fees. Fees are added back on the LP side: if your fees earned are larger than the impermanent loss in dollars, the LP position beats holding.
Uniswap V3 and PancakeSwap V3 use concentrated liquidity, so your position behaves like the 50/50 formula while the price stays inside your range. When the price leaves the range the position becomes 100% of one token and stops earning fees — the loss relative to HODL can be larger than this calculator shows. See active vs inactive liquidity for how to spot that.
When does impermanent loss become real?
Only when you withdraw the position while prices are different from your deposit. Until then it is unrealised and reverses if prices return. That is why it is called impermanent.