AMM v4 instructions

Every AMM v4 instruction with its arguments, the pool and OpenBook accounts it expects, and the pre/post conditions on each.

As of the 2026-07 program upgrade, AMM v4’s OpenBook / Serum dependency has been removed. The legacy v1 SwapBaseIn / SwapBaseOut, Deposit, and Withdraw instructions keep their old account layouts for backwards compatibility: the market accounts are still accepted in their old positions, but they are no longer validated or used (no CPI is issued). New integrations should use the V2 swap entrypoints, which omit the market accounts entirely. Several instructions have been removed and now revert — see the changelog entry. The account lists below use the field names from the Raydium SDK; the underlying IDL sometimes uses serum_* prefixes.

Instruction inventory

Group	Instruction	tag	Notes
Pool lifecycle	Initialize2	1	Only pool-creation instruction (UI defaults to CPMM for new pools).
Liquidity	Deposit	3	Add liquidity, receive LP. Layout unchanged (market accounts ignored).
Liquidity	Withdraw	4	Burn LP, receive both sides pro-rata. Layout unchanged (market accounts ignored).
Swap	SwapBaseIn	9	Exact-input swap. v1 layout unchanged; market accounts accepted but ignored.
Swap	SwapBaseOut	11	Exact-output swap. Same as above.
Swap	SwapBaseInV2	16	Recommended. Exact-input swap without the market accounts.
Swap	SwapBaseOutV2	17	Recommended. Exact-output swap without the market accounts.
Upkeep	SetParams	6	Admin: change pool parameters. Layout + param values changed (breaking).
Upkeep	WithdrawPnl	7	Sweep accrued protocol PnL. Account layout changed (breaking).
Upkeep	CreateConfigAccount	14	Admin: initialize the program-level AmmConfig PDA.
Upkeep	UpdateConfigAccount	15	Admin: change program-level config params.

The SDK exposes builders for the user-facing instructions only. Upkeep instructions are typically invoked by the Raydium keeper.

Removed / no longer callable (they now revert with unimplemented!, and their client builders were deleted): Initialize (tag 0, use Initialize2), MonitorStep (2), MigrateToOpenBook (5), WithdrawSrm (8), PreInitialize (10, use Initialize2), SimulateInfo (12), AdminCancelOrders (13).

Initialize2

Bootstrap a new AMM v4 pool bound to an existing OpenBook market.

Arguments

nonce:        u8
open_time:    u64
init_pc_amount:   u64
init_coin_amount: u64

Accounts (writable W, signer S)

#	Name	W	S	Notes
1	token_program			SPL Token.
2	system_program
3	rent
4	amm	W		AmmInfo account (seeded key).
5	amm_authority			Program PDA.
6	amm_open_orders	W		OpenBook OpenOrders (seeded).
7	lp_mint	W
8	coin_mint
9	pc_mint
10	pool_coin_token_account	W
11	pool_pc_token_account	W
12	pool_withdraw_queue	W
13	pool_target_orders_account	W
14	pool_lp_token_account	W		Creator’s LP ATA.
15	pool_temp_lp_token_account	W		Scratch account.
16	market_program			OpenBook program.
17	market			OpenBook market.
18	user_wallet	W	S	Creator. Pays rent and funds initial deposit.
19	user_token_coin	W
20	user_token_pc	W

Postconditions

• lp_supply = sqrt(init_coin_amount × init_pc_amount) − INIT_BURN, where INIT_BURN ≈ 100 LP units are kept out of circulation.
• No OpenBook orders are posted (the order-book grid has been removed). market_program / market are still passed but only stored as reference fields; coin_lot_size / pc_lot_size / min_size are initialized to 0.

Common errors — InvalidInput (mismatched decimals, non-sorted), NotAllowed.

Deposit

Add liquidity.

Arguments

max_coin_amount: u64
max_pc_amount:   u64
base_side:       u64    // 0 = base on coin, 1 = base on pc
// (some SDK variants also accept other_amount_min)

Accounts (abridged)

#	Name	W	S
1	token_program
2	amm	W
3	amm_authority
4	amm_open_orders
5	amm_target_orders	W
6	lp_mint	W
7	pool_coin_token_account	W
8	pool_pc_token_account	W
9	market
10	user_coin_token_account	W
11	user_pc_token_account	W
12	user_lp_token_account	W
13	user_owner		S

Math — standard pro-rata. Using the pool’s effective reserves (vaults + on-book), the SDK computes the coin/pc pair that yields the given LP amount and checks it against max_*. Reverts with ExceededSlippage if either side exceeds the cap.

Withdraw

Burn LP, receive both sides.

Arguments

amount: u64    // LP to burn

Accounts — like Deposit with the direction reversed; lp_mint is writable for burn, the user ATAs are receivers. The account layout is unchanged (market accounts still passed positionally, ignored). There is no longer any settle-from-OpenBook step — the pro-rata math uses the vault balances directly.

SwapBaseIn

Exact-input swap. Always an AMM-path swap (does not route through OpenBook matching).

Use the V2 variants for new code. Since AMM v4’s OpenBook dependency has been removed, the V1 entrypoints (SwapBaseIn, SwapBaseOut) still expect the full 17-account list (or 18 with the optional target-orders account), but the OpenBook/market accounts are now accepted positionally and ignored — they are not validated and no CPI is issued. Passing a wrong account count still reverts with WrongAccountsNumber, but the market account contents are no longer checked. New integrations should use SwapBaseInV2 / SwapBaseOutV2, which take a much smaller account list and represent the canonical execution path today. The V1 forms are documented here for completeness and for reading existing on-chain transactions.

Arguments

amount_in:            u64
minimum_amount_out:   u64

Accounts (abridged)

#	Name	W	S
1	token_program
2	amm	W
3	amm_authority
4	amm_open_orders	W
5	amm_target_orders	W
6	pool_coin_token_account	W
7	pool_pc_token_account	W
8	market_program
9	market	W
10	market_bids	W
11	market_asks	W
12	market_event_queue	W
13	market_coin_vault	W
14	market_pc_vault	W
15	market_vault_signer
16	user_source_token_account	W
17	user_dest_token_account	W
18	user_owner		S

Math — see products/amm-v4/math.

Preconditions

• amm.status allows swap (bit 0 of the status bitmask not set).
• amm.state_data.pool_open_time <= now.
• amount_in > 0.
• user_source_token_account holds at least amount_in.

Postconditions

• User loses amount_in of source token, gains amount_out ≥ minimum_amount_out of dest token.
• need_take_pnl_* incremented by the protocol fee share.
• Note: the state_data.swap_*_in_amount / swap_*_out_amount analytics counters are no longer updated — their values are frozen. Use trade logs for volume analytics.

Common errors — ExceededSlippage, InvalidInput, InvalidStatus, NotAllowed (coin/pc mint identical).

SwapBaseOut

Exact-output, inverse of SwapBaseIn. Same accounts.

Arguments

max_amount_in: u64
amount_out:    u64

SwapBaseInV2 / SwapBaseOutV2

Variant swap entrypoints (tags 16 / 17) that skip the OpenBook accounts entirely. The math is identical to the V1 path, but the account list shrinks to just the AMM side and the user — 8 accounts, and amm_open_orders is not passed:

#	Name	W	S
1	token_program
2	amm	W
3	amm_authority
4	pool_coin_token_account	W
5	pool_pc_token_account	W
6	user_source_token_account	W
7	user_dest_token_account	W
8	user_owner		S

Pool reserves are now the vault balances (minus pending PnL), so quote math is straightforward and identical to the v1 path. Use V2 to save compute and avoid passing the (now-ignored) market accounts. The Raydium router always uses the V2 form when routing through AMM v4.

Arguments are the same as the V1 forms (amount_in / minimum_amount_out for SwapBaseInV2; max_amount_in / amount_out for SwapBaseOutV2).

MonitorStep and other removed instructions

Removed — no longer callable. As of the 2026-07 upgrade, MonitorStep (tag 2) has been removed from the program and now reverts (unimplemented!) if invoked. Its client builder was also deleted. The same applies to MigrateToOpenBook (5), WithdrawSrm (8), SimulateInfo (12), AdminCancelOrders (13), and the legacy Initialize (0) / PreInitialize (10) pool-creation entrypoints — use Initialize2 instead.

Historically, MonitorStep cranked the pool’s OpenBook interaction: it settled filled orders (moving proceeds from the market vaults into the pool vaults via OpenBook CPI), cancelled stale orders, and posted new orders to close the gap between target_orders and amm_open_orders. With the OpenBook dependency removed, there is nothing to crank and the instruction is gone. Any keeper or integration that still calls it must remove the call.

WithdrawPnl / TakePnl

Admin sweep of accrued protocol fees.

Arguments

• WithdrawPnl takes no args; it reads need_take_pnl_* and moves those exact amounts.

Breaking change (admin only). The account list dropped from 17 (+1 optional) to 10 — amm_open_orders and all six market accounts were removed — with no compatibility parsing. The old layout misaligns (old #5 was amm_open_orders, now pool_coin_token_account) and fails with errors such as InvalidCoinVault. Admin tooling must be updated.

Accounts (new 10-account layout)

#	Name	W	S
1	token_program
2	amm	W
3	amm_config
4	amm_authority
5	pool_coin_token_account	W
6	pool_pc_token_account	W
7	pnl_coin_token_account	W		Recipient.
8	pnl_pc_token_account	W
9	pnl_owner		S	Admin multisig.
10	amm_target_orders	W

Effect

• Transfers need_take_pnl_coin from pool_coin_token_account to pnl_coin_token_account.
• Same for pc.
• Zeros need_take_pnl_coin and need_take_pnl_pc.
• Logic change: if the vault balance is insufficient to cover accrued PnL, the instruction returns TakePnlError directly (it no longer manipulates order-book state).

No change to reserves since accrued PnL was already excluded from the invariant.

SetParams

Admin param changes, called by the Raydium multisig. Arguments are a param: u8 tag + payload.

Breaking change (admin only). The account list was reduced to just [amm (W), admin (S)] (the authority, open-orders, target-orders, vault, and all market accounts were removed). The param enum was renumbered and trimmed: Status = 0, State = 1, Fees = 2 (was 9), SetOpenTime = 3 (was 11). All order-book-grid params and AmmOwner, LastOrderDistance, UpdateOpenOrder were removed, and the SetParamsInstruction struct dropped new_pubkey and last_order_distance. Admin tooling must be updated.

State-change matrix

The OpenBook column is gone — no instruction touches an order book anymore.

Instruction	lp_mint supply	Vaults	PnL counters
Initialize2	init supply minted to creator	+ init_coin_amount, + init_pc_amount	0
Deposit	+	+ both	—
Withdraw	−	− both	—
SwapBaseIn / SwapBaseInV2	—	+ in, − out	+ pnl share
SwapBaseOut / SwapBaseOutV2	—	+ in, − out	+ pnl share
WithdrawPnl	—	− (pnl swept)	0
SetParams	—	—	—

Where to go next

• products/amm-v4/code-demos — TypeScript examples for swap and LP flows.
• products/amm-v4/fees — WithdrawPnl details and the fee split.
• reference/error-codes — forward-reference table (AMM v4 errors are listed on that page).

Sources:

• Raydium AMM program — raydium-io/raydium-amm
• Raydium SDK v2 Liquidity module
• OpenBook program — account validations on the market side