AMM v4 instructions

AMM v4 instructions uniformly expect both a pool side (AMM v4 program accounts) and a market side (OpenBook accounts for the bound market). Omitting or mismatching either set reverts. The account lists below use the field names from the Raydium SDK for clarity; the underlying IDL sometimes uses serum_* prefixes.

Instruction inventory

Group	Instruction	Notes
Pool lifecycle	`Initialize2`	Current pool-creation instruction (still functional; UI defaults to CPMM for new pools).
Liquidity	`Deposit`	Add liquidity, receive LP.
Liquidity	`Withdraw`	Burn LP, receive both sides pro-rata.
Swap	`SwapBaseIn`	Exact-input swap (full path: vaults + OpenBook).
Swap	`SwapBaseOut`	Exact-output swap (full path).
Swap	`SwapBaseInV2`	Exact-input swap that bypasses OpenBook — vaults only, fewer accounts.
Swap	`SwapBaseOutV2`	Exact-output swap that bypasses OpenBook.
Upkeep	`SetParams`	Admin: change pool parameters.
Upkeep	`WithdrawPnl`	Sweep accrued protocol PnL into the PnL-owner accounts.
Upkeep	`CreateConfigAccount`	Admin: initialize the program-level `AmmConfig` PDA.
Upkeep	`UpdateConfigAccount`	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.

`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.
OpenBook orders have not yet been posted; the first MonitorStep posts the initial grid.

Common errors — InvalidInput (mismatched decimals, non-sorted), NotApproved, OpenBook-side InvalidMarketState.

`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. A MonitorStep-like settle-from-OpenBook step happens internally before the pro-rata math so the redemption uses fresh reserves.

`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 no longer shares liquidity to OpenBook, the V1 entrypoints (SwapBaseIn, SwapBaseOut) — which still require the full set of OpenBook accounts for validation — are functionally redundant. 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.
state_data.swap_*_in_amount and swap_*_out_amount incremented (for analytics).
need_take_pnl_* incremented by the protocol fee share.

Common errors — ExceededSlippage, InvalidInput, InvalidStatus, InvalidMarket.

`SwapBaseOut`

Exact-output, inverse of SwapBaseIn. Same accounts. Arguments

max_amount_in: u64
amount_out:    u64

`SwapBaseInV2` / `SwapBaseOutV2`

Variant swap entrypoints that skip the OpenBook accounts entirely. The math is identical to the V1 path, but the account list shrinks to the AMM side only:

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

The pool’s effective reserves still account for tokens posted on OpenBook, so quote math is unchanged. Use V2 to save compute and avoid passing the market accounts when you don’t need an OpenBook crank in the same transaction. 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` (legacy / inert)

No longer cranked. AMM v4 no longer shares liquidity to OpenBook, so MonitorStep has nothing to do — the pool has no orders posted to settle, cancel, or replace. The instruction remains in the on-chain program for backwards compatibility but the Raydium keeper no longer calls it. Calling it manually is effectively a no-op (other than refreshing zeroed-out state) and should not be needed by integrators.

Originally this instruction cranked the pool’s OpenBook interaction. Arguments

plan_order_limit:   u16
place_order_limit:  u16
cancel_order_limit: u16

Accounts — everything above for a swap, plus administrative OpenBook accounts. Original effect (no longer relevant in practice):

Settled any filled orders (their proceeds moved from market_coin_vault/market_pc_vault into the pool’s vaults via OpenBook CPI).
Cancelled stale orders whose prices or sizes no longer matched target_orders.
Posted new orders to close the gap between target_orders and amm_open_orders.

Permissionless. Any account could call it; historically the Raydium keeper did so routinely.

`WithdrawPnl` / `TakePnl`

Admin sweep of accrued protocol fees. Arguments

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

Accounts (abridged)

#	Name	W	S
1	`token_program`
2	`amm`	W
3	`amm_authority`
4	`amm_config`
5	`amm_open_orders`	W
6	`pool_coin_token_account`	W
7	`pool_pc_token_account`	W
8	`pnl_coin_token_account`	W		Recipient, stored on `AmmConfig`.
9	`pnl_pc_token_account`	W
10	`pnl_owner`		S	Admin multisig.
11	`market_program`
12	`market`	W
13	`market_event_queue`	W
14	`market_coin_vault`	W
15	`market_pc_vault`	W
16	`market_vault_signer`

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.

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

`SetParams`

Admin param changes: status bitmask, ordering-grid depth, amount waves, fees (rarely), etc. Called by the Raydium multisig. Arguments are a param: u8 tag + payload, analogous to CPMM’s UpdateAmmConfig.

State-change matrix

Instruction	`lp_mint` supply	Vaults	PnL counters	OpenBook
`Initialize2`	init supply minted to creator	`+ init_coin_amount`, `+ init_pc_amount`	0	OpenOrders created
`Deposit`	+	+ both	—	settle fills
`Withdraw`	−	− both	—	settle fills
`SwapBaseIn`	—	+ in, − out	+ pnl share	maybe re-post grid
`SwapBaseOut`	—	+ in, − out	+ pnl share	maybe re-post grid
`MonitorStep`	—	settle fills	—	cancel / post
`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

Products

Algorithms

Instruction inventory

`Initialize2`

`Deposit`

`Withdraw`

`SwapBaseIn`

`SwapBaseOut`

`SwapBaseInV2` / `SwapBaseOutV2`

`MonitorStep` (legacy / inert)

`WithdrawPnl` / `TakePnl`

`SetParams`

State-change matrix

Where to go next

Products

Algorithms

Documentation Index

​Instruction inventory

​Initialize2

​Deposit

​Withdraw

​SwapBaseIn

​SwapBaseOut

​SwapBaseInV2 / SwapBaseOutV2

​MonitorStep (legacy / inert)

​WithdrawPnl / TakePnl

​SetParams

​State-change matrix

​Where to go next

Instruction inventory

`Initialize2`

`Deposit`

`Withdraw`

`SwapBaseIn`

`SwapBaseOut`

`SwapBaseInV2` / `SwapBaseOutV2`

`MonitorStep` (legacy / inert)

`WithdrawPnl` / `TakePnl`

`SetParams`

State-change matrix

Where to go next