DEX liquidity · scenario calculator

Model the trade-off
before adding liquidity.

Compare a simplified 50/50 constant-product LP position with holding the same starting assets. Add your own estimated fees and costs; this is a model, not a prediction of a live pool’s returns.

Liquidity position versus holding

Enter the starting position value and each token’s price change from the time liquidity was added. The model assumes a balanced 50/50 position in a constant-product pool.

Initial position value ($) Token A price change (%) Token B price change (%) Fees earned ($) Gas and other costs ($)

Estimated LP value before fees—Idealized constant-product result

Value if held instead—Same initial 50/50 token amounts

Pool-versus-hold difference—Relative to hold value

Estimated LP value after entered fees/costs—LP value + fee input − cost input

Net difference versus holding—Fees can offset, but do not guarantee offsetting, divergence loss

Model limits: Impermanent-loss results use the idealized formula for a balanced 50/50 constant-product pool. Concentrated-liquidity positions, changing ranges, different starting weights, protocol incentives, token rebases, taxes, fees and execution costs can materially change outcomes.

Explore live DEX pools Read the liquidity guide

Approximate swap price impact

A separate, simplified constant-product scenario. Enter total pool TVL and a trade size in USD; the model assumes balanced reserves and estimates impact before protocol fees.

Pool TVL ($) Trade size ($)

Approximate price impact—Before pool fee; idealized balanced pool

Model reserve per side—Assumes each side holds half of TVL

What impermanent loss measures

Impermanent loss compares the value of assets in a liquidity position with the value those same starting token amounts would have had if held outside the pool. It is a relative comparison, not necessarily a realized cash loss. The difference can widen as the tokens’ prices diverge; it can narrow if their relative prices move back toward the starting ratio. Removing liquidity realizes the then-current token mix and any applicable transaction costs.

Why fees and pool design matter

Swap fees may compensate liquidity providers, but future volume, fee capture, incentives and token prices are uncertain. A concentrated-liquidity position can earn fees only while its price range is active and can become one-sided when the market moves outside that range. Therefore, this calculator’s constant-product model should not be used as a quote for a concentrated or actively managed position.

How to use the result responsibly

Use price-change scenarios rather than a single expected outcome. Compare the pool’s contract, token quality, liquidity, trading activity, fee tier and withdrawal mechanics. Check the actual pool interface and transaction quote before signing; displayed TVL and volume do not guarantee execution at a given price. CryptoWave provides educational tools, not investment, tax or trading advice.