It is hard and complicated to analytically derive the volumetric-displacement formula of a gerotor pump/motor. Analytical formulas for calculating the volumetric-displacement are derived in this work, which is relatively easy and based upon vane lengths. The vane lengths mean the distances from axis of inner rotor or outer rotor to contact points between inner and outer rotors. Two kinds of formula were studied for two different kinematic motions of rotors. The first one is the case that outer rotor is fixed in space and inner rotor is in mixed motion of planetary revolution and rotation with respect to the spinning axis. And the second is the case that both inner and outer rotors simultaneously rotate. The proposed formula is verified through comparison with volumetric-displacement obtained from numerical CAD calculation.