Use this price impact calculator to estimate how trade size affects price in equities, AMM crypto pools, and order-book markets. Compare buy or sell impact, impacted price, effective price, and trade value.
Assumptions & Limitations
This price impact calculator estimates how your trade size might move the market. It covers three different environments: equities, AMM crypto pools, and order-book markets. You can select either a buy or sell direction to see the expected outcome.
Depending on the market model you choose, the tool outputs your estimated impact percentage, the impacted or effective price, and the total trade value or token amount. Please note that this is an estimation tool based on simplified models, not a live execution engine.
What this price impact calculator measures
Price impact is the estimated change between the starting reference price and the new price implied by your trade size and the market’s liquidity. Because liquidity works differently depending on where you trade, this market impact calculator supports three distinct mechanisms. It handles traditional equities, automated market maker (AMM) liquidity pools, and standard order books.
| Market model | What the tool uses | Main inputs | Main outputs |
|---|---|---|---|
| Equities | Square-root estimate | Share price, trade size, ADV, daily volatility | Pre-impact trade value, estimated impacted price, estimated impact |
| AMM crypto | Constant-product reserve model | Base reserves, quote reserves, trade size, buy/sell | Spot price, effective price, quote token amount, price impact |
| Order book | Linear 1% depth approximation | Mid price, trade size, 1% market depth | Pre-impact trade value, estimated impacted price, estimated impact |
Price impact vs slippage
People often look for a slippage calculator when they actually want to know their price impact. While related, they are distinct concepts in this tool. Price impact is the specific price change caused directly by your own trade size relative to the available liquidity.
Slippage is the final difference between your expected execution price and the actual result, which might include your price impact plus other market movements that happen before your trade completes.
In this calculator, the AMM model is the closest to showing explicit slippage caused by reserve changes. The equity and order-book models provide a price impact estimate based on simplified liquidity assumptions.
| Term | What it means here | Included directly in this tool? |
|---|---|---|
| Price impact | Change caused by trade size relative to liquidity | Yes |
| Slippage | Final execution deviation that may include other factors | Partially / conceptually |
| Effective or impacted price | The price implied by the model after accounting for impact | Yes |
Inputs used in this calculator
Equities inputs To estimate an equity market impact, the tool requires the Current Share Price, your Trade Size, the Average Daily Volume (ADV) of the stock, the Daily Volatility percentage, and your Trade Direction (buy or sell).
AMM crypto inputs For an AMM price impact calculator estimate, you need to provide the Pool Base Token Reserves, the Pool Quote Token Reserves, your Trade Direction, and the number of Base Tokens to Buy or Base Tokens to Sell. This uses a fee-free constant-product estimate and does not pull a live network quote.
Order book inputs To use the order book price impact calculator, input the Current Mid Price, your Trade Size, the 1% Market Depth (the volume available within 1% of the mid price), and your Trade Direction.
| Input | Used in which model | Unit | Why it matters |
|---|---|---|---|
| Current Share Price | Equities | $ | Starting price for trade value and impacted price |
| Trade Size | Equities / Order book / AMM | Shares, units, or base tokens | Larger trades increase impact |
| ADV | Equities | Shares | Higher ADV lowers impact estimate |
| Daily Volatility | Equities | % | Higher volatility increases impact estimate |
| Pool Base Reserves | AMM | Base token | Determines pool depth on base side |
| Pool Quote Reserves | AMM | Quote token | Determines spot and trade output |
| Mid Price | Order book | $ | Reference price before impact |
| 1% Market Depth | Order book | Units | Liquidity proxy for linear depth estimate |
Outputs and how to read them
Equities outputs The tool calculates the Pre-Impact Trade Value, the Estimated Impacted Price, and the final Estimated Impact percentage.
AMM outputs The DEX price impact calculator mode outputs the Initial Spot Price of the pool, your Estimated Effective Price for the swap, the estimated Quote Token Amount required or received, and the resulting Price Impact percentage.
Order book outputs This mode shows your Pre-Impact Trade Value, the Estimated Impacted Price based on available depth, and the Estimated Impact percentage.
| Output | What it tells the user | Where it appears |
|---|---|---|
| Pre-Impact Trade Value | Trade size × starting price before impact | Equities, order book |
| Estimated Impacted Price | Modeled price after impact estimate | Equities, order book |
| Estimated Impact | Percentage change implied by trade size and liquidity | Equities, order book |
| Initial Spot Price | Starting reserve ratio price | AMM |
| Estimated Effective Price | Average modeled rate across the AMM trade | AMM |
| Quote Token Amount | Estimated quote received or required depending on direction | AMM |
| Price Impact | AMM curve-based impact percentage | AMM |
Formulas used by this price impact calculator
Understanding the price impact formula helps clarify how the tool arrives at its estimates.
Equities square-root model This model uses the square-root rule of market impact.$$\text{Estimated Impact (\%)} = \text{Daily Volatility} \times \sqrt{\frac{\text{Trade Size}}{\text{ADV}}}$$$$\text{Estimated Impacted Price} = \text{Current Share Price} \times \left(1 \pm \frac{\text{Estimated Impact}}{100}\right)$$$$\text{Pre-Impact Trade Value} = \text{Current Share Price} \times \text{Trade Size}$$
AMM constant-product model This model relies on the traditional constant-product reserve relationship, where the pool’s invariant ($k$) equals Base Reserves multiplied by Quote Reserves.$$\text{Spot Price} = \frac{\text{Quote Reserves}}{\text{Base Reserves}}$$
For a buy direction, the tool calculates the estimated quote tokens required to remove your desired base tokens from the pool:$$\text{Quote Required} = \left(\frac{k}{\text{Base Reserves} – \text{Trade Size}}\right) – \text{Quote Reserves}$$
For a sell direction, it estimates the quote tokens you receive when adding your base tokens to the pool:$$\text{Quote Received} = \text{Quote Reserves} – \left(\frac{k}{\text{Base Reserves} + \text{Trade Size}}\right)$$
Finally, the tool determines your average rate across the swap:$$\text{Effective Price} = \frac{\text{Quote Amount}}{\text{Trade Size}}$$
The price impact percentage rises as your trade size takes up a larger portion of the available reserves.
Order book depth model This uses a linear depth approximation rather than a full order-book simulator.$$\text{Estimated Impact (\%)} = \frac{\text{Trade Size}}{\text{1\% Market Depth}}$$$$\text{Estimated Impacted Price} = \text{Mid Price} \times \left(1 \pm \frac{\text{Estimated Impact}}{100}\right)$$$$\text{Pre-Impact Trade Value} = \text{Mid Price} \times \text{Trade Size}$$
How to use the calculator by market model
Knowing how to calculate price impact depends on your chosen market environment.
How to calculate equity price impact
- Select the equities mode.
- Enter the current share price and the number of shares you want to trade.
- Input the stock’s average daily volume (ADV) and its daily volatility percentage.
- Select whether you are buying or selling to view the estimated impact.
How to calculate AMM price impact
- Select the AMM crypto mode.
- Input the current base token reserves and quote token reserves of the liquidity pool.
- Enter your trade size (amount of base tokens).
- Toggle between buy and sell to see the effective price and estimated quote token amounts.
How to calculate order book price impact
- Select the order book mode.
- Provide the current mid price and your intended trade size.
- Enter the 1% market depth (the volume of resting orders within 1% of the current price).
- Select your trade direction to calculate the impact.
Worked examples using the tool’s built-in logic
These examples mirror the default values inside the calculator, demonstrating exactly how the logic processes a buy-side trade across all three models. While these highlight the buy side, the exact same formulas apply to sell orders with the opposite directional effect on your impacted price.
| Market & Direction | Example Inputs | Output Values | What the Result Means |
|---|---|---|---|
| Equities (Buy) | Price: 150Size: 50,000ADV: 1MVol: 2.5% | Value: $7,500,000Impact: 0.559%Price: 150.84 | A $7.5M buy order pushes the estimated execution price up by roughly 0.56% to 150.84. |
| AMM (Buy) | Base: 1,000Quote: 2MTrade: 10 base | Spot: 2,000Quote required: 20,202.02Effective Price: 2,020.20Impact: 1.01% | Buying 1% of the base reserves pushes the effective price 1.01% worse than the starting spot price. |
| Order Book (Buy) | Mid: 50,000Size: 21% Depth: 50 | Value: $100,000Impact: 0.04%Price: 50,020 | Eating into the book’s 1% depth moves your estimated average fill price up by 0.04%. |
Constraints, assumptions, and when estimates get weaker
The calculations generated here rely on simplified market models. To help you judge the reliability of the output, the calculator will flag extreme inputs based on the logic thresholds below.
| Model | Warning Trigger Condition | What the Warning Means | Why the Estimate Weakens |
|---|---|---|---|
| Equities | Trade size > 10% of ADV | Size is too large for the model | The square-root estimate breaks down and understates impact at extreme volumes. |
| AMM | Trade size approaches base reserves | Swap size depletes the pool | Curve slippage becomes extreme, creating high slippage and front-running risk. |
| AMM | Trade size > Base reserves (Buy) | Impossible trade | A constant-product pool cannot mathematically output more base tokens than it currently holds. |
| Order Book | Trade size > 2 × 1% market depth | Size exceeds known liquidity proxy | The linear depth approximation assumes constant density, which understates impact for deep sweeps. |
Other notable limitations
- Equities: Does not separate permanent market impact from transient market impact.
- AMM: Assumes a standard, fee-free constant-product environment. It does not pull live network quotes or account for concentrated liquidity parameters (like Uniswap v3).
- Order Book: Underestimation risk grows significantly when your trade size exceeds twice the 1% depth input, as the tool does not map out a full multi-level depth ladder.
Which model to use in this calculator
| Use this mode | When you are estimating | Best for |
|---|---|---|
| Equities | Large stock trades relative to volume and volatility | Shares and public equities |
| AMM crypto | Swaps against token reserves in constant-product pools | DEX / liquidity-pool trades |
| Order book | Price impact from available book depth near the mid | Exchange-style order book estimates |
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