Base yield
base = deposit * base APR * days / 365Base yield models non-reward income such as lending interest or trading fees.
Net DeFi yield
Real DeFi Return Calculator
Compare nominal DeFi yield with a more realistic net return after reward token price change, impermanent loss, gas costs and protocol fees. Use it to stress-test APY assumptions before relying on headline yield.
Nominal vs realReward token decayIL and feesEducational estimate
Calculator
Enter real-return assumptions
Separate base yield from reward yield so reward token price change can be modeled.
Formula: real return = base yield + reward yield after token change - impermanent loss - gas - protocol fees.
Formula
Real DeFi return formula
Adjusted rewards
adjusted rewards = reward yield * (1 + token change)Reward APY can look high, but reward token price movement changes final value.
Real return
real = base + adjusted rewards - IL - gas - feesNet result compares final modeled value with the original deposit.
Example
Real DeFi return example
Assume a $5,000 deposit, 6% base APR, 18% reward APR and 90 days in a strategy. Nominal earnings are about $295.89. If the reward token falls 35%, impermanent loss is 5.72% and gas costs are $45, the net result can become slightly negative.
The point is not to predict the strategy. It is to show how headline APY can differ from net return when costs and token price assumptions are included.
Limitations
What this calculator cannot know automatically
The calculator does not know future token prices, live liquidity, protocol security events, emissions changes, fee tiers, taxes, slippage, MEV or liquidation risk. It is designed to make assumptions visible, not to guarantee outcomes.
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FAQ
Real DeFi Return Calculator FAQ
What is real DeFi return?
Real DeFi return is the estimated net result after adjusting nominal yield for costs and risks such as reward token price change, gas fees, protocol fees and impermanent loss.
Why can real DeFi yield be lower than APY?
Displayed APY can ignore transaction costs, reward token decay, liquidity pool underperformance, slippage, taxes and changing incentives. These factors can reduce the actual result.
Does this calculator predict DeFi returns?
No. The calculator only applies math to your assumptions. It does not predict future token prices, protocol rewards, volume, security events or market conditions.
Should I include impermanent loss?
Include impermanent loss when the strategy uses liquidity pools. Lending or single-token staking may not need an IL assumption, but still has protocol and token risk.
Quality notes
How to use this result responsibly
Lamppoli calculators are designed to answer a practical crypto question quickly, then show the assumptions behind the result.
Best use case
Use this calculator after a headline DeFi APY looks attractive. It helps adjust nominal return for gas, fees, token price movement, slippage and impermanent loss.
Use the result as a planning estimate, then review fees, taxes, slippage, liquidity and risk separately before making decisions.
More FAQ
Additional Real DeFi Return Calculator Questions
Why is real DeFi return lower than APY?
Displayed APY can ignore gas, protocol fees, reward token decay, slippage, impermanent loss and withdrawal costs.
Can real DeFi return be negative?
Yes. Costs, token price decline or impermanent loss can outweigh nominal yield.
Does this measure protocol risk?
No. Smart contract risk, governance risk and oracle risk are not automatically quantified by the calculator.