CPMM instructions

Every instruction on the CPMM program, with its arguments, account list, pre/post conditions, and the errors it can return.

This page is the authoritative instruction reference. For code that actually composes these instructions, see products/cpmm/code-demos. For error-code meanings see reference/error-codes.

Instruction summary

Discriminator name	Who signs	What it does
Initialize	pool creator	Create a new CPMM pool from two mints and an AmmConfig. Permissionless; anyone can call it. Hardcodes enable_creator_fee = false on the new pool. The pool_state account can be either the canonical PDA or a fresh random keypair (see Initialize accounts).
InitializeWithPermission	payer + a holder of a Permission PDA	Permissioned variant of Initialize. The caller (payer) must own a Permission PDA derived from their own pubkey. Used by platforms that need gated pool creation (e.g. LaunchLab graduations). Lets the caller pin creator_fee_on (BothToken / OnlyToken0 / OnlyToken1) and forces enable_creator_fee = true on the new pool. The creator field on pool_state is set to a separately-passed creator account, not the payer. Same canonical-PDA-or-random-keypair flexibility for pool_state as Initialize.
Deposit	LP	Add liquidity in both tokens; receive LP tokens.
Withdraw	LP	Burn LP tokens; receive both underlying tokens pro-rata.
SwapBaseInput	swapper	Exact-input swap (amount_in in, ≥ minimum_amount_out out).
SwapBaseOutput	swapper	Exact-output swap (≤ maximum_amount_in in, amount_out out).
CollectProtocolFee	protocol_owner (from AmmConfig)	Sweep accrued protocol fees from vaults.
CollectFundFee	fund_owner (from AmmConfig)	Sweep accrued fund fees from vaults.
CollectCreatorFee	pool_creator	Sweep accrued creator fees (if creator fee was enabled).
UpdatePoolStatus	admin	Pause / resume specific operations on a pool via a bitmask.
UpdateAmmConfig	admin	Change fee rates or the protocol/fund owner on an AmmConfig.
CreateAmmConfig	admin	Create a new fee tier (new AmmConfig account).
CreatePermissionPda	admin	Mint a Permission PDA that allows a specific authority to call InitializeWithPermission.
ClosePermissionPda	admin	Revoke a previously-issued Permission PDA.

Status bitmask: each pool’s status is a u8 where bit 0 = deposit disabled, bit 1 = withdraw disabled, bit 2 = swap disabled (PoolStatusBitIndex { Deposit, Withdraw, Swap } in the program). A clear bit means the operation is allowed; a set bit means it is paused. UpdatePoolStatus takes a raw u8 and overwrites the existing value.

The next sections go through each in detail. Account ordering follows the CPMM IDL; the SDK and the Rust client in raydium-cp-swap/programs/cp-swap/src/instructions match this order.

Initialize

Create a new CPMM pool.

Arguments

init_amount_0: u64
init_amount_1: u64
open_time:     u64   // Unix timestamp; swaps rejected before this

Accounts (W = writable, S = signer)

#	Name	W	S	Notes
1	creator	W	S	Pays rent; recorded as pool_state.pool_creator.
2	amm_config			The chosen fee tier.
3	authority			CPMM global authority PDA.
4	pool_state	W	S*	inited here. Either the canonical PDA ["pool", amm_config, token_0_mint, token_1_mint] or a fresh random keypair — when not the canonical PDA, the program requires pool_state to sign (require_eq!(pool_account_info.is_signer, true)). The random-keypair path lets a creator dodge front-running attempts on the canonical PDA. The downstream PDAs (lp_mint, vaults, observation_state) are derived from pool_state.key() either way.
5	token_0_mint			Sorted: token_0_mint < token_1_mint.
6	token_1_mint
7	lp_mint	W		inited here. Authority set to authority.
8	creator_token_0	W		Source ATA for init_amount_0.
9	creator_token_1	W		Source ATA for init_amount_1.
10	creator_lp_token	W		Destination for LP (created if missing).
11	token_0_vault	W		inited here. Owned by authority.
12	token_1_vault	W
13	create_pool_fee	W		Destination ATA for the create_pool_fee paid by the creator.
14	observation_state	W		inited here.
15	token_program			SPL Token (for LP mint).
16	token_0_program			SPL Token or Token-2022.
17	token_1_program			SPL Token or Token-2022.
18	associated_token_program
19	system_program
20	rent

* pool_state signs only on the random-keypair path; the canonical-PDA path runs without pool_state signing.

Preconditions

• Mints are sorted (token_0_mint < token_1_mint by byte order).
• Neither mint uses an extension outside the CPMM allow-list (TransferFeeConfig, MetadataPointer, TokenMetadata, InterestBearingConfig, ScaledUiAmount) — see products/cpmm/accounts. A small per-mint allow-list inside the program bypasses the check for case-by-case onboarding.
• creator has at least init_amount_0 and init_amount_1 in the respective ATAs.
• amm_config.disable_create_pool == false.

Postconditions

• pool_state exists with lp_supply = sqrt(init_amount_0 * init_amount_1) − LOCKED_LP.
• The LP starter of LOCKED_LP (100 lamports of LP token) is permanently locked in the pool — pool_state.lp_supply records liquidity − 100 while 100 LP units remain outside circulation, preventing the pool from being fully drained and dividing by zero.
• observation_state is initialized; observation_index = 0 and pool_id = pool_state.key().
• create_pool_fee lamports are transferred from the creator to the receiver and synced as native SOL (it is a wSOL ATA).
• The pool’s status bitmask is 0 (deposit / withdraw / swap all enabled).
• enable_creator_fee = false and creator_fee_on = BothToken. Initialize does not support enabling the creator fee — that path is InitializeWithPermission.
• open_time is bumped to block_timestamp + 1 if the caller passed a value <= block_timestamp. Swaps are rejected before open_time; deposits and withdrawals work immediately.

Common errors (full list in reference/error-codes)

• InvalidInput — mints unsorted, or identical mints.
• NotSupportMint — blocked Token-2022 extension.
• ExceededSlippage — rarely; if init_amount_0/1 result in zero LP due to decimals mismatch.

Deposit

Add liquidity in both tokens proportional to the pool.

Arguments

lp_token_amount:   u64   // how many LP tokens to mint to the LP
maximum_token_0:   u64
maximum_token_1:   u64

Accounts

#	Name	W	S
1	owner		S
2	authority
3	pool_state	W
4	owner_lp_token	W
5	token_0_account	W
6	token_1_account	W
7	token_0_vault	W
8	token_1_vault	W
9	token_program
10	token_program_2022
11	vault_0_mint
12	vault_1_mint
13	lp_mint	W

Math

needed_token_0 = ceil(lp_token_amount * vault_0 / lp_supply)
needed_token_1 = ceil(lp_token_amount * vault_1 / lp_supply)
require(needed_token_0 <= maximum_token_0, "ExceededSlippage")
require(needed_token_1 <= maximum_token_1, "ExceededSlippage")

No change to k’s proportionality — both vaults and lp_supply scale by the same factor.

Postconditions

• lp_supply += lp_token_amount.
• vault_0 += needed_token_0 (net of any Token-2022 transfer fee on input).
• vault_1 += needed_token_1 (net of any Token-2022 transfer fee on input).

Common errors — ExceededSlippage, ZeroTradingTokens, InvalidStatus if deposit is paused.

Withdraw

Burn LP tokens and receive both underlying tokens pro-rata.

Arguments

lp_token_amount:   u64
minimum_token_0:   u64
minimum_token_1:   u64

Accounts

#	Name	W	S
1	owner		S
2	authority
3	pool_state	W
4	owner_lp_token	W
5	token_0_account	W
6	token_1_account	W
7	token_0_vault	W
8	token_1_vault	W
9	token_program
10	token_program_2022
11	vault_0_mint
12	vault_1_mint
13	lp_mint	W

(Identical to Deposit; lp_mint is writable because the LP tokens are burned.)

Math

out_token_0 = floor(lp_token_amount * vault_0 / lp_supply)
out_token_1 = floor(lp_token_amount * vault_1 / lp_supply)
require(out_token_0 >= minimum_token_0, "ExceededSlippage")
require(out_token_1 >= minimum_token_1, "ExceededSlippage")

Postconditions

• lp_supply -= lp_token_amount.
• Vaults send out_token_0 / out_token_1 (gross; the user receives net of any Token-2022 transfer fee).

SwapBaseInput

Exact-input swap.

Arguments

amount_in:            u64
minimum_amount_out:   u64

Accounts

#	Name	W	S
1	payer		S
2	authority
3	amm_config
4	pool_state	W
5	input_token_account	W
6	output_token_account	W
7	input_vault	W
8	output_vault	W
9	input_token_program
10	output_token_program
11	input_token_mint
12	output_token_mint
13	observation_state	W

The ordering input → output is by the user’s direction, not by the pool’s canonical token_0 / token_1. The program figures out which vault is which by matching mints.

Math — see products/cpmm/math.

Preconditions

• open_time <= now.
• pool_status allows swap.
• Neither mint paused or frozen for this authority.
• amount_in > 0.

Common errors

• ExceededSlippage — amount_out < minimum_amount_out.
• ZeroTradingTokens — the trade rounds to zero.
• NotApproved — pool is paused for swaps via UpdatePoolStatus.
• InvalidInput — mints do not match either of the pool’s vault mints.

SwapBaseOutput

Exact-output swap.

Arguments

max_amount_in:  u64
amount_out:     u64

Accounts — same as SwapBaseInput.

Math — inverse curve with ceiling, see products/cpmm/math.

Common errors — ExceededSlippage (gross_in > max_amount_in), ZeroTradingTokens, InvalidInput, NotApproved.

CollectProtocolFee

Sweep accrued protocol fees from the vaults to the protocol destination.

Arguments — none.

Accounts

#	Name	W	S
1	owner		S	Must match amm_config.protocol_owner.
2	authority
3	pool_state	W
4	amm_config
5	token_0_vault	W
6	token_1_vault	W
7	vault_0_mint
8	vault_1_mint
9	recipient_token_0_account	W
10	recipient_token_1_account	W
11	token_program
12	token_program_2022

Effect

transfer pool_state.protocol_fees_token0 from vault_0 to recipient_0
transfer pool_state.protocol_fees_token1 from vault_1 to recipient_1
pool_state.protocol_fees_token0 = 0
pool_state.protocol_fees_token1 = 0

No change to the curve’s effective balances (accrued fees were already excluded).

Common error — NotApproved if signer is not protocol_owner.

CollectFundFee

Same shape as CollectProtocolFee but signed by fund_owner and zeroing the fund_fees_* counters.

CollectCreatorFee

Same shape again, signed by pool_state.pool_creator. Only emits transfers if the pool was initialized with a non-zero creator-fee rate.

UpdatePoolStatus

Pause or resume individual operations on a pool. The status field is a bitmask:

Bit	Flag	Effect when set
0	DEPOSIT_DISABLED	Deposit rejects with NotApproved.
1	WITHDRAW_DISABLED	Withdraw rejects.
2	SWAP_DISABLED	SwapBaseInput / SwapBaseOutput reject.

Arguments

status: u8      // new bitmask

Accounts

#	Name	W	S
1	authority		S	Must match the admin key on the CPMM program.
2	pool_state	W

The admin key is the upgrade authority on the CPMM program — in practice, the Raydium multisig. See security/admin-and-multisig.

CreateAmmConfig

Create a new fee tier.

Arguments

index:             u16
trade_fee_rate:    u64
protocol_fee_rate: u64
fund_fee_rate:     u64
create_pool_fee:   u64

Accounts

#	Name	W	S
1	owner	W	S	Admin.
2	amm_config	W		inited here.
3	system_program

Preconditions

• No existing AmmConfig with the same index.
• protocol_fee_rate + fund_fee_rate <= FEE_RATE_DENOMINATOR_VALUE.

UpdateAmmConfig

Change fee rates or ownership on an existing AmmConfig. Takes a param: u8 (discriminator for which field to update) and a value: u64. The value semantics per param are in the source; commonly:

• param = 0 → trade_fee_rate
• param = 1 → protocol_fee_rate
• param = 2 → fund_fee_rate
• param = 3 → new_protocol_owner (pass Pubkey bytes as a reinterpret)
• param = 4 → new_fund_owner
• param = 5 → create_pool_fee
• param = 6 → disable_create_pool

Changes are signed by the admin and affect every pool bound to this AmmConfig on the next swap. No migration; pools simply read the new values.

State-change matrix

Instruction	lp_supply	Vault balances	Accrued-fee fields	observation
Initialize	+ init LP	+ init_amount_{0,1}	0	init
InitializeWithPermission	+ init LP	+ init_amount_{0,1}	0	init
Deposit	+	+ both	—	—
Withdraw	−	− both	—	—
SwapBaseInput	—	+ in, − out	+ trade_fee split into protocol/fund; + creator_fee if enabled	+ (if interval elapsed)
SwapBaseOutput	—	+ in, − out	+ trade_fee split into protocol/fund; + creator_fee if enabled	+ (if interval elapsed)
CollectProtocolFee	—	− (by protocol buckets)	protocol_* → 0	—
CollectFundFee	—	− (by fund buckets)	fund_* → 0	—
CollectCreatorFee	—	− (by creator buckets)	creator_* → 0	—
UpdatePoolStatus	—	—	—	—

Where to go next

• products/cpmm/code-demos — runnable TypeScript samples for the above.
• reference/error-codes — the complete Anchor error table.
• products/cpmm/fees — the fee-accrual model that CollectProtocolFee / CollectFundFee / CollectCreatorFee drain.

Sources:

• raydium-io/raydium-cp-swap — instructions
• Raydium SDK v2 — @raydium-io/raydium-sdk-v2