AMM v4 instructions

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.The 2026-09 program upgrade adds one admin instruction, WithdrawExcessLamports (tag 18), and drops the rent sysvar from CreateConfigAccount. Everything a trader or LP calls is unchanged. See the 2026-09-09 changelog entry.

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.
Upkeep	`WithdrawExcessLamports`	18	Admin: sweep lamports above the rent-exempt minimum from program-controlled accounts. Added 2026-09.

The SDK exposes builders for the user-facing instructions only. Upkeep instructions are typically invoked by the Raydium keeper. Removed / no longer callable (their client builders were deleted): Initialize (tag 0, use Initialize2), MonitorStep (2), MigrateToOpenBook (5), WithdrawSrm (8), PreInitialize (10, use Initialize2), SimulateInfo (12), AdminCancelOrders (13). A transaction carrying one of these tags fails; the program never executes the instruction. Treat all seven as gone rather than as error paths to handle.

`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`			Checked `== spl_token::id()`.
2	`associated_token_program`			Used to create the creator’s LP ATA.
3	`system_program`
4	`rent`			Still forwarded into the `initialize_account` / `initialize_mint` CPIs — do not drop it.
5	`amm`	W		`AmmInfo` PDA `[programId, market, "amm_associated_seed"]`; created here.
6	`amm_authority`			PDA `["amm authority"]`; the `nonce` argument must equal its bump.
7	`lp_mint`	W		PDA `[programId, market, "lp_mint_associated_seed"]`; created here.
8	`coin_mint`			Must differ from `pc_mint` (`InvalidCoinMint`).
9	`pc_mint`
10	`pool_coin_token_account`	W		PDA `[programId, market, "coin_vault_associated_seed"]`.
11	`pool_pc_token_account`	W		PDA `[programId, market, "pc_vault_associated_seed"]`.
12	`pool_target_orders_account`	W		PDA `[programId, market, "target_associated_seed"]`.
13	`amm_config`			Program-level config PDA `["amm_config_account_seed"]`; `InvalidConfigAccount` on mismatch.
14	`create_fee_destination`	W		Must equal `config_feature::create_pool_fee_address`; `InvalidFee` otherwise.
15	`market`			Not validated — used only as the variable seed for every PDA above, and stored as a reference field.
16	`user_wallet`	W	S	Creator. Pays rent, the create-pool fee, and the initial deposit.
17	`user_token_coin`	W
18	`user_token_pc`	W
19	`user_token_lp`	W		Creator’s LP ATA; created by the program.

Two accepted layouts. The 19-account list above is the recommended one. For backwards compatibility the program also reads a 21-account legacy layout, which inserts an ignored amm_open_orders at position 7 and an ignored market_program at position 16 — this is what the in-repo initialize2 instruction builder still emits. Any other length is parsed positionally against the legacy layout and will fail.

Postconditions

LP minted to the creator = sqrt(init_coin_amount × init_pc_amount) − 10^coin_mint.decimals. LP decimals equal coin_mint.decimals, so the subtracted amount is exactly one whole LP token; it is never minted and is permanently out of circulation. If sqrt(...) is below that, the instruction reverts with InitLpAmountTooLess.
AmmInfo.lp_amount stores the full sqrt(...), not the minted amount — so lp_mint.supply is permanently one whole LP token lower than amm.lp_amount. All pro-rata math uses amm.lp_amount.
No OpenBook orders are posted (the order-book grid has been removed). AmmInfo.market records the account passed in slot 15, but AmmInfo.open_orders and AmmInfo.market_program are both written as Pubkey::default(), and coin_lot_size / pc_lot_size / min_size are initialized to 0. On the legacy 21-account layout the extra amm_open_orders and market_program accounts are read and discarded.

Common errors — InvalidCoinMint (coin and pc mint identical), InvalidConfigAccount (wrong amm_config PDA), InvalidFee (wrong create-pool-fee destination), InvalidProgramAddress (wrong amm_authority or wrong nonce), RepeatCreateAmm (a pool already exists for this market), InitLpAmountTooLess, InvalidSupply (either init amount is 0, or the LP mint already has supply), AlreadyInUse.

`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 — recommended 11-account layout

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

Accepted counts are 11, 14 or 15 — nothing else. The legacy layout is 14 accounts (or 15 with a trailing ignored account): the same list with an ignored amm_open_orders at position 4, an ignored market at position 9, and an ignored market_event_queue appended at position 14. Any other count reverts with WrongAccountsNumber.

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 — recommended 11-account layout

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

Withdraw is not Deposit reversed. Accepted counts are 11, or 20 through 23. The legacy 20-account layout puts the user’s LP account before the two receiving ATAs and interleaves five ignored market accounts:

token_program, amm(W), amm_authority, amm_open_orders(W), amm_target_orders(W), lp_mint(W), pool_coin_token_account(W), pool_pc_token_account(W), market_program, market(W), market_coin_vault(W), market_pc_vault(W), market_vault_signer, user_lp_token_account(W), user_coin_token_account(W), user_pc_token_account(W), user_owner(S), market_event_queue(W), market_bids(W), market_asks(W)

. The 22- and 23-account forms insert two ignored padding accounts after position 8. Any other count reverts with WrongAccountsNumber.

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

AmmStatus::from_u64(amm.status).swap_permission() is true — that is, status is 1 (Initialized), 6 (SwapOnly) or 7 (WaitingTrade). status is an enum value, not a bitmask; see products/amm-v4/accounts.
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.
The swap fee stays in the vaults, raising the invariant k. The need_take_pnl_* counters are not touched by swaps — protocol PnL is recomputed from the k delta on the next Deposit, Withdraw or WithdrawPnl (Processor::calc_take_pnl).
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	Notes
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.

`CreateConfigAccount` / `UpdateConfigAccount`

Admin management of the program-level AmmConfig PDA (seed ["amm_config_account_seed"]). The account holds exactly three meaningful fields — pnl_owner, cancel_owner and create_pool_fee — plus two reserved padding regions; there is no pool-creation flag. UpdateConfigAccount sets pnl_owner with param = 0, cancel_owner with param = 1, and create_pool_fee with param = 2.

Changed in 2026-09, and backwards-compatible. CreateConfigAccount no longer reads the rent sysvar. Its account list is now 4 accounts, down from 5:

#	Name	W	S
1	`admin`	W	S
2	`amm_config`	W
3	`pnl_owner`
4	`system_program`

The program reads rent parameters from Rent::get() instead of deserializing a passed-in sysvar account — what the Solana 3.0 dependency bump made natural.The removed account was last in the list, and the handler reads its accounts positionally through next_account_info with no length check. An existing admin tool that still passes the old 5-account list therefore keeps working: the trailing rent account is simply never read. Update it when convenient, not urgently. UpdateConfigAccount is unchanged.

Initialize2 keeps the rent sysvar in position 3, and still uses it: the program stopped calling Rent::from_account_info on it, but it is still forwarded into the spl_token::initialize_account and initialize_mint CPIs that create the pool’s vaults and LP mint. Do not drop it from the account list.

`WithdrawExcessLamports`

Admin sweep of lamports sitting above the rent-exempt minimum on accounts the program controls. Added in the 2026-09 upgrade to recover the over-funding that the SIMD-0437 rent reduction leaves behind on accounts created before each step. It moves only the excess. Token balances, account data, owners, and pool state are untouched, and the instruction is a no-op on an account already at its minimum — so it is safe to fire repeatedly and again after each rollout step. Arguments — none. The payload is the single tag byte 18. Accounts

#	Name	W	S	Notes
1	`collect_lamports`	W	S	Destination for every swept lamport. Must equal the cluster’s collect-lamports wallet — see `reference/program-addresses`. Any other signer fails with `InvalidSignAccount`.
2	`amm_authority`			The single AMM v4 authority PDA, re-derived by the program from `["amm authority"]` with a fixed nonce of `254`. It signs the token-program CPIs.
3	`token_program`			SPL Token. Checked against `spl_token::id()`; a wrong value fails with `InvalidSplTokenProgram`.
4..	source accounts	W		`M` accounts to sweep, any number, any order.

How each source account is handled The program dispatches on the source account’s owner:

Source account owner	Handling
SPL Token, `data_len == 165` (a token account), non-native	CPI `WithdrawExcessLamports` (token-program discriminant `38`), signed by `amm_authority`.
SPL Token, `data_len == 165`, native (wSOL)	`WithdrawExcessLamports` cannot be used on a native account. The program CPIs `SyncNative`, measures how much the wrapped `amount` grew, `UnwrapLamports` (discriminant `45`) for exactly that delta, then asserts the wrapped balance is back to its pre-sync value — otherwise `LamportsCalculateError`. The pool’s SOL-side liquidity is therefore never touched.
SPL Token, any other size (an LP mint)	CPI `WithdrawExcessLamports`, signed by `amm_authority`.
The AMM v4 program itself (`AmmInfo`, `TargetOrders`, `AmmConfig`)	The program debits the account directly down to `rent.minimum_balance(data_len)`.
Anything else	Skipped silently. No error, no lamports moved.

Common errors — InvalidSignAccount (wrong signer), InvalidSplTokenProgram (wrong program in slot 3), InvalidProgramAddress (wrong amm_authority), LamportsCalculateError (custom code 60; the wSOL round-trip did not net to zero), and InsufficientFunds from the program-owned path when an account holds less than its own rent minimum. No SDK builder. @raydium-io/raydium-sdk-v2 does not ship a builder for this instruction, and neither does the raydium-sdk-V2-demo repo — it is an admin path. Encode it by hand, the way the wallet-side sweep in solana-fundamentals/rent-and-reclaimable-rent does for the token-program instruction.

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	— (realised later)
`SwapBaseOut` / `SwapBaseOutV2`	—	+ in, − out	— (realised later)
`WithdrawPnl`	—	− (pnl swept)	0
`SetParams`	—	—	—
`WithdrawExcessLamports`	—	— (token balances unchanged)	—

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

Products

Algorithms

Instruction inventory

`Initialize2`

`Deposit`

`Withdraw`

`SwapBaseIn`

`SwapBaseOut`

`SwapBaseInV2` / `SwapBaseOutV2`

`MonitorStep` and other removed instructions

`WithdrawPnl` / `TakePnl`

`SetParams`

`CreateConfigAccount` / `UpdateConfigAccount`

`WithdrawExcessLamports`

State-change matrix

Where to go next

​Instruction inventory

​Initialize2

​Deposit

​Withdraw

​SwapBaseIn

​SwapBaseOut

​SwapBaseInV2 / SwapBaseOutV2

​MonitorStep and other removed instructions

​WithdrawPnl / TakePnl

​SetParams

​CreateConfigAccount / UpdateConfigAccount

​WithdrawExcessLamports

​State-change matrix

​Where to go next

Instruction inventory

`Initialize2`

`Deposit`

`Withdraw`

`SwapBaseIn`

`SwapBaseOut`

`SwapBaseInV2` / `SwapBaseOutV2`

`MonitorStep` and other removed instructions

`WithdrawPnl` / `TakePnl`

`SetParams`

`CreateConfigAccount` / `UpdateConfigAccount`

`WithdrawExcessLamports`

State-change matrix

Where to go next