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임퍼머넌트 로스 계산기

Uniswap V2 스타일 유동성 풀의 임퍼머넌트 로스 계산 — 가격 변동 시 LP 가치와 HODL 비교

Impermanent Loss Calculator

Constant-product (Uniswap V2-style) LP position vs HODL

Position

Split 50/50 by value into ETH and USDC.

Impermanent Loss

-2.02%

Price ratio change: 1.5000× (of ETH/USDC)

HODL value

$12,500.00

LP value (no fees)

$12,247.45

Fees earned

$82.19

Net P&L vs HODL (LP + fees − HODL)

$-170.36

Fees needed to break even: $252.55

Pool Composition

At deposit

2.500000 ETH

5,000.000000 USDC

After price move

2.041241 ETH

6,123.724357 USDC

About this formula

  • Applies to constant-product AMMs (Uniswap V2, SushiSwap, PancakeSwap V2) with 50/50 weightings.
  • IL = 2·√r / (1 + r) − 1 where r is the ratio change of A/B prices.
  • IL is always ≤ 0 vs HODL. It only becomes a realized loss on withdrawal — hence "impermanent".
  • Weighted pools (Balancer) and concentrated liquidity (Uniswap V3) have different, generally larger IL profiles.

Fee APR is applied linearly on the initial deposit for simplicity. Real pools accrue fees on the current LP value and compound continuously, so very volatile or very long positions may see slightly higher fee income than the estimate.

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