Как да изчислим Impermanent Loss V2
Какво е Impermanent Loss V2?
The Impermanent Loss V2 Calculator computes impermanent loss for concentrated liquidity positions (Uniswap V3 style), where providing liquidity within a narrow price range amplifies both fee income and impermanent loss compared to full-range V2 positions.
Формула
IL (concentrated) = 1 - (Value of LP Position / Value if Held) where LP value depends on the price range [Pa, Pb]
- Pa
- Lower Price Bound ($) — Lower tick price of the concentrated liquidity range
- Pb
- Upper Price Bound ($) — Upper tick price of the concentrated liquidity range
- P₀
- Initial Price ($) — Token price when the position was opened
- P₁
- Current Price ($) — Current or projected future token price
Ръководство стъпка по стъпка
- 1Enter the token pair, initial price, and your concentrated liquidity range (lower and upper tick)
- 2Input the current or projected future price of the asset
- 3The calculator computes IL using the concentrated liquidity math (virtual reserves)
- 4Compare to full-range V2 IL and to a simple hold strategy
Worked Examples
Вход
ETH/USDC at $3,000, range $2,500-$3,500, price moves to $3,600
Резултат
Price exits range — position is 100% USDC, IL ≈ 8.7% vs 0.9% for full-range V2
Вход
ETH/USDC at $3,000, range $2,700-$3,300, price moves to $3,200
Резултат
Within range — IL ≈ 3.2% (vs 0.3% full-range V2), but fee income 5-10x higher
Common Mistakes to Avoid
- ✕Setting ranges too narrow, causing positions to go out of range frequently with 100% IL to one asset
- ✕Not realizing concentrated IL can be 5-50x worse than traditional V2 IL for the same price move
- ✕Failing to rebalance positions when price exits the range
Frequently Asked Questions
Why is concentrated IL worse than V2 IL?
Concentrated liquidity provides the same capital efficiency as a much larger full-range position. This amplifies both fee income AND impermanent loss proportionally. A 10x concentration means roughly 10x the IL for the same price move.
What happens when price goes out of my range?
Your position becomes 100% in one token (the less valuable one), you stop earning fees, and your IL is maximized for that range. You must either wait for price to return or withdraw and reposition.