The Kimura two-parameter model is a nucleotide substitution model that allows one instantaneous rate for nucleotide transitions and another for nucleotide transversions. A transition exchanges two purines or two pyrimidines; a transversion exchanges a purine with a pyrimidine. In the model's symmetric form, each base has one transition neighbor with rate and two transversion neighbors, each with rate . Equal equilibrium base frequencies and constant rates across sites are important assumptions.[ref]
For aligned sequences let be the fraction of sites differing by a transition and the fraction differing by a transversion. The estimated pairwise molecular divergence, measured in substitutions per site, is
For 1,000 comparable sites with 40 transition differences and 20 transversion differences, , and , compared with an observed mismatch fraction . The excess accounts for multiple changes that can be hidden at the endpoints under the model.[ref]
The logarithms require and . Near their boundaries, small sampling changes can produce large distance changes; beyond them this finite real-valued correction is unavailable. The formula is a model-based inference, not a universal correction for arbitrarily divergent sequences. Unequal base composition or strong variation among sites can violate its assumptions.
The name refers to the two substitution-rate classes, not to two observed substitutions or two species. When rates are expressed per unit time, the total instantaneous departure rate from a base is . Converting a fitted distance to elapsed time further requires a molecular clock rate calibration.

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