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Documentation Index

Fetch the complete documentation index at: https://docs.raydium.io/llms.txt

Use this file to discover all available pages before exploring further.

The APR shown on the Raydium UI for a CLMM pool is the realised fee APR of the in-range liquidity over the past 24 hours, projected to a year. It is not the APR your position would have earned — that depends on your range, your time-in-range, and your share of the liquidity that was active during the trading window.

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The headline formula

For a CLMM pool, the daily fee APR shown on Raydium is computed as: 
apr_24h = (fees_24h / tvl_in_range_24h) · 365
Where:
  • fees_24h is the sum of LP-side swap fees accrued in the last 24 hours (in USD).
  • tvl_in_range_24h is the time-weighted average USD value of liquidity that was in range during the window.
The denominator is what distinguishes CLMM APR from CPMM APR. CPMM uses total pool TVL because every dollar is always contributing. CLMM uses only the in-range subset because out-of-range dollars earn nothing.

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What your APR will actually be

The headline APR is a statistic of the pool, not of your position. Your APR depends on four multipliers: 
your_APR = headline_APR
         · (your_in_range_fraction / pool_in_range_fraction)     # concentration bonus
         · time_in_range                                          # range discipline
         · (1 − transfer_fee_haircut)                             # token-2022 tax
         · compounding_factor                                     # if you auto-restake
  • Concentration bonus. If your range is tighter than the pool-wide average, every active tick has more of your liquidity per dollar than the average LP’s. Tighter = bigger bonus (and proportionally bigger IL amplification).
  • Time in range. If you are in range only 40% of the time, multiply by 0.40.
  • Transfer-fee haircut. For Token-2022 mints with transfer fees, every fee collection hops through a transfer that itself bleeds basis points.
  • Compounding. If you collectFee and redeploy into the same range weekly, the effective APR is about (1 + daily_APR)^365 − 1. Without compounding it is linear.

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Worked example

Suppose a SOL/USDC CLMM pool has:
  • 24h volume: $120M
  • Fee tier: 0.05% (LP share 88% of fees after protocol cut)
  • Total TVL: $40M
  • In-range TVL: $18M (45% of pool is currently in range)
fees_24h = 120M · 0.0005 · 0.88 = $52,800
apr_24h  = (52,800 / 18,000,000) · 365 = 107%
The Raydium UI shows 107% APR for the pool. (This example uses a deep, high-volume pool to keep the numbers concrete; typical CLMM pools display anywhere from 10% to 50% APR, with low-volume pools well under 10%.) Now you are considering opening a position:
  • Your range: tight enough that you have 2× the average concentration.
  • Expected time-in-range: 70% (you will check weekly).
  • No Token-2022 fees. No auto-compounding.
your_APR ≈ 107% · 2 · 0.70 = 150%
That is an estimate, not a guarantee. Realised volume can halve or double in a week.

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Why trailing APR is a lagging signal

CLMM APR moves fast relative to CPMM APR because the in-range TVL denominator moves fast:
  • A large price move pushes chunks of positions out of range, shrinking the denominator. Suddenly your remaining in-range TVL looks “higher APR” — but only because competitors left, and typically volume falls too.
  • A pool reaching a new ATH can temporarily show 500–1000% APR for an hour as most positions were calibrated for lower prices and only a few aggressive LPs remain in range.
  • Once the market settles, LPs rebalance and APR mean-reverts.
Rules of thumb:
  • Ignore sub-24h APR. Too much noise.
  • Prefer 7d and 30d windows. Raydium exposes both via GET /pools/info/ids — fields week.apr and month.apr.
  • Backtest your specific range on historical volume and price data before committing meaningful capital.

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How the math works (single-tick step)

Inside a single tick the CLMM behaves like a CPMM on the amount of liquidity L active in that tick. Fees accrue in fee_growth_global_X and fee_growth_global_Y per unit of liquidity. For a position with liquidity Lₚ that spans tick ranges [i_lo, i_hi]: 
fees_earned_X = Lₚ · (fee_growth_inside_X(i_lo, i_hi, now) − fee_growth_inside_X(i_lo, i_hi, t_open))
fees_earned_Y = Lₚ · (fee_growth_inside_Y(i_lo, i_hi, now) − fee_growth_inside_Y(i_lo, i_hi, t_open))
Where fee_growth_inside subtracts fee growth below i_lo and above i_hi from the global accumulator. Details in algorithms/clmm-math. To compute expected fees over a future period for a prospective range, estimate: 
expected_fees_per_day = Σ_ticks_in_range (volume_at_tick · fee_rate · your_share_at_tick)
Raydium’s SDK exposes getEstimateAprFromPositionAndPool which does this estimation using the recent volume-per-tick histogram.

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SDK helper

import { Raydium, TxVersion } from "@raydium-io/raydium-sdk-v2";

const raydium = await Raydium.load({ owner, connection });
const pool = await raydium.clmm.getPoolInfoFromRpc({ poolId });

const apr = await raydium.clmm.estimatedApr({
  poolInfo: pool.poolInfo,
  poolKeys: pool.poolKeys,
  tickLower: -100,   // your intended range
  tickUpper:  100,
  volumeUsd24h: pool.poolInfo.day.volume, // or a custom estimate
});

console.log(`Expected APR: ${apr.feeApr * 100}% (fee-only, excludes farm incentives)`);
The method also separately returns any farm APR if the pool has an attached farm. Your full “LP APR” is feeApr + farmApr.

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Where farm APR fits in

Raydium CLMM pools can have Farm v6 emissions layered on top. Farm rewards are paid in a reward mint (often RAY or a partner token) independent of swap fees. The Raydium UI typically shows: 
Total APR = Fee APR + Farm APR [in $X, Y, Z reward mints]
Farm APR is computed similarly but using the reward emission schedule and the current price of the reward mint in USD. Unlike fee APR it is not volatility-dependent — it is a fixed schedule. See products/farm-staking/overview for farm emission math.

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Common mistakes

  • “APR is compounded automatically.” No. Fees must be claimed via collectFee, then manually redeployed. Raydium does not auto-compound CLMM fees.
  • “My APR = headline APR.” Only if your concentration is average, your time-in-range is 100%, and you compound at the same cadence. All three are usually false.
  • “Higher fee tier = higher APR.” Only if volume survives the higher fee. At 1% a pair may quote 50% APR but do 1/10 the volume; net less than 0.25% at 120% × 0.1 = 12%.
  • “Out-of-range positions have zero risk.” They have zero fee income but full IL on the existing token composition — the position is now “100% of whichever side”.

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Pointers

Sources:
  • Raydium SDK v2 estimatedApr implementation.
  • Raydium UI pool page (live APR fields).
  • Uniswap V3 fee-growth derivation.