Asset conversion

A concentrated liquidity position does not hold a fixed mix of its two assets. As the pool price moves, the pool continuously trades one of your assets for the other — that is what provides liquidity to swappers. Metrix calls the net effect asset conversion: since you deposited, some amount of one token has effectively been sold to buy the other.

The Asset conversion section on a tracked position (in the Price Range panel) shows this in two rows — one per token — with what you hold now and your average cost basis in USD. The same table appears in the Simulate performance panel, where it projects the conversion your position would go through if price moved to your target.

A worked example

Say you deposited into an ENA/WETH pool:

1,500,000 ENA worth $135,000 at the time ($0.09 each)
6.7 WETH worth $15,075 at the time ($2,250 each)

Since then the price of WETH (in ENA terms) drifted down. To stay balanced, the pool gradually sold ENA to buy WETH. The net result:

You now hold fewer ENA and more WETH than you deposited. Nothing left your position — one asset was converted into the other inside the pool.

Reading the table

Here is the table for that example. Hover the values to see the full breakdown for each token:

Asset conversion

AssetsCurrentCost Basis

ENA

WETH

Current — the amount of each token the position holds now (plus anything you already withdrew).
Cost Basis — the average USD price at which you effectively acquired what you now hold.

The hover shows the three pieces behind each number:

Initial — what you deposited directly, at its market price on deposit day.
Sold / Accumulated — the conversion leg. Red means the token was shed; green means it was gained.
Remaining / Total — what is left (for the sold token) or the combined total (for the accumulated token), with its cost basis.
Converted at — the average conversion price in pool terms. This follows the pair orientation toggle, so it flips together with the prices above it.

How the numbers are calculated

Conversion legs. Metrix compares what you deposited with what the position holds now (including withdrawals). In the example, ENA went from 1,500,000 to 1,200,000 (−300,000 sold) while WETH went from 6.7 to 19.5 (+12.8 accumulated).

Conversion price (pool terms). The sold amount divided by the received amount: 300,000 ÷ 12.8 = 23,437.5 ENA per WETH. This is the average rate at which the pool rebalanced you — compare it against the current price to see whether the rotation worked in your favor.

Cost basis of the accumulated token. The WETH you bought via conversion is valued by what you gave up: 300,000 ENA at its deposit-day price of $0.09 = $27,000, or $2,109.38 per WETH. Blending that with the WETH you deposited directly:

(15,075 + 27,000) / 19.5 WETH = $2,157.69 per WETH

Cost basis of the sold token. Selling does not change the entry price of what remains, so the remaining 1,200,000 ENA keeps its $0.09 deposit basis. The hover also shows the effective sale price: the 12.8 WETH received, valued at WETH's deposit-day price of $2,250, works out to $0.096 per ENA sold — above the $0.09 entry, so this conversion realized a gain in deposit-day terms.

What it means for you

If the accumulated token's cost basis is below its current price, the conversions bought it cheaper than the market is paying now.
Comparing the conversion price with the current pool price tells you whether you would rather have held the original mix (see the VS HODL comparison on the Performance panel).
While price stays inside your range, conversion is ongoing — the table keeps updating as the pool rebalances.

USD prices for the conversion legs use each token's average deposit-day price, not the price at each moment the pool rebalanced. The pool-terms conversion price is exact; the USD framing is an approximation. See the FAQ for more on how Metrix derives on-chain numbers.

Asset conversion

A worked example

Say you deposited into an ENA/WETH pool:

1,500,000 ENA worth $135,000 at the time ($0.09 each)
6.7 WETH worth $15,075 at the time ($2,250 each)

Since then the price of WETH (in ENA terms) drifted down. To stay balanced, the pool gradually sold ENA to buy WETH. The net result:

You now hold fewer ENA and more WETH than you deposited. Nothing left your position — one asset was converted into the other inside the pool.

Reading the table

Here is the table for that example. Hover the values to see the full breakdown for each token:

Asset conversion

AssetsCurrentCost Basis

ENA

WETH

Current — the amount of each token the position holds now (plus anything you already withdrew).
Cost Basis — the average USD price at which you effectively acquired what you now hold.

The hover shows the three pieces behind each number:

Initial — what you deposited directly, at its market price on deposit day.
Sold / Accumulated — the conversion leg. Red means the token was shed; green means it was gained.
Remaining / Total — what is left (for the sold token) or the combined total (for the accumulated token), with its cost basis.
Converted at — the average conversion price in pool terms. This follows the pair orientation toggle, so it flips together with the prices above it.

How the numbers are calculated

(15,075 + 27,000) / 19.5 WETH = $2,157.69 per WETH

What it means for you

If the accumulated token's cost basis is below its current price, the conversions bought it cheaper than the market is paying now.
Comparing the conversion price with the current pool price tells you whether you would rather have held the original mix (see the VS HODL comparison on the Performance panel).
While price stays inside your range, conversion is ongoing — the table keeps updating as the pool rebalances.

Asset conversion

A worked example

Say you deposited into an ENA/WETH pool:

1,500,000 ENA worth $135,000 at the time ($0.09 each)
6.7 WETH worth $15,075 at the time ($2,250 each)

Since then the price of WETH (in ENA terms) drifted down. To stay balanced, the pool gradually sold ENA to buy WETH. The net result:

You now hold fewer ENA and more WETH than you deposited. Nothing left your position — one asset was converted into the other inside the pool.

Reading the table

Here is the table for that example. Hover the values to see the full breakdown for each token:

Asset conversion

AssetsCurrentCost Basis

ENA

WETH

Current — the amount of each token the position holds now (plus anything you already withdrew).
Cost Basis — the average USD price at which you effectively acquired what you now hold.

The hover shows the three pieces behind each number:

Initial — what you deposited directly, at its market price on deposit day.
Sold / Accumulated — the conversion leg. Red means the token was shed; green means it was gained.
Remaining / Total — what is left (for the sold token) or the combined total (for the accumulated token), with its cost basis.
Converted at — the average conversion price in pool terms. This follows the pair orientation toggle, so it flips together with the prices above it.

How the numbers are calculated

(15,075 + 27,000) / 19.5 WETH = $2,157.69 per WETH

What it means for you

If the accumulated token's cost basis is below its current price, the conversions bought it cheaper than the market is paying now.
Comparing the conversion price with the current pool price tells you whether you would rather have held the original mix (see the VS HODL comparison on the Performance panel).
While price stays inside your range, conversion is ongoing — the table keeps updating as the pool rebalances.