Raydium CPMM vs AMM v4 vs CLMM: which pool type to use

The short answer

For a new token, use CPMM. It is Raydium's constant-product pool with Token-2022 support, a choice of fee tiers, fungible LP tokens you can burn or lock, and no OpenBook market. AMM v4 is the legacy constant-product pool; Raydium no longer recommends it for new pairs. CLMM is concentrated liquidity: higher fee income per SOL inside a price range you manage, with a position NFT instead of LP tokens. It suits stable or major pairs more than fresh memecoins.

Everything below comes from Raydium's documentation as of November 5, 2026, mainly its guide to choosing a pool type and protocol fees page.

How do the three Raydium pool types compare?

	CPMM (Standard AMM)	AMM v4 (legacy)	CLMM (Concentrated)
Pricing model	Constant product, full range	Constant product, full range	Liquidity in a price range you choose
What the LP receives	Fungible LP tokens	Fungible LP tokens	A position NFT
Token-2022	Yes, with an extension allow-list	No, classic SPL only	Yes
OpenBook market	Never needed	Removed in July 2026	Never needed
Creation fee	0.15 SOL	0.15 SOL	None, rent only
Fee tiers (docs)	0.01%, 0.25%, 1%	0.25% fixed	0.01%, 0.05%, 0.25%, 1%
Trading fee split	84% LPs, 12% RAY buyback, 4% treasury	88% LPs, 12% RAY buyback	84% LPs, 12% RAY buyback, 4% treasury
Burn LP	Yes	Yes	Not meaningfully
Burn & Earn lock	Yes	Not supported	Yes
Raydium's advice	Default for new pairs	Only for existing pairs that need it	When you can manage a range
Program ID	CPMMoo8L3F4NbTegBCKVNunggL7H1ZpdTHKxQB5qKP1C	675kPX9MHTjS2zt1qfr1NYHuzeLXfQM9H24wFSUt1Mp8	CAMMCzo5YL8w4VFF8KVHrK22GGUsp5VTaW7grrKgrWqK

Program IDs are from Raydium's program addresses page. Raydium's live CPMM config API lists more tiers than the docs, from 0.005% to 4%, and every one of them carries the same 0.15 SOL create fee.

What is Raydium CPMM?

CPMM, also called CP-Swap or "Standard AMM" in Raydium's interface, is a constant-product pool: the product of the two reserves stays constant through each swap, so liquidity covers every price from zero to infinity. You deposit both tokens at the current ratio and receive LP tokens for your share.

Why it is the default for new tokens:

• Token-2022 works. Raydium's CPMM instructions accept either token program; mints with an extension outside the allow-list are rejected.
• No order book step. CPMM "never had an OpenBook dependency", per Raydium's docs.
• Fee choice. Raydium suggests the 1% tier for "long-tail memecoin or low-liquidity pair".
• Simple to make permanent. LP tokens can be burned, or locked with Burn & Earn while you keep the fee income.
• Open time. The program rejects swaps before the pool's open_time, so you can create a pool now and let trading start later.

One limit: each fee tier can hold only one pool per pair. If a pool already exists on your tier, add to it or pick another tier.

How to create a Raydium liquidity pool walks through it, including the cost table. SOLTidy's Create Raydium Pool creates CPMM pools only, for a flat 0.1 SOL on top of Raydium's 0.15 SOL.

What is Raydium AMM v4, and is it still worth using?

AMM v4 is the pool program Raydium launched with, and for years it was what "a Raydium pool" meant. It was designed to share liquidity with an OpenBook (formerly Serum) order book, which is why creating one required an OpenBook market ID. It takes classic SPL tokens only and has one 0.25% fee.

Two things changed. Raydium's guide now says "Do not open new AMM v4 positions unless you specifically need OpenBook orderbook connectivity for an existing pair", and "every new launch of a novel pair today goes to CPMM or CLMM". And Raydium's July 22, 2026 changelog says AMM v4 "stopped sharing liquidity to OpenBook (formerly Serum) a long time ago" and removes the remaining Serum code, leaving a pure constant-product AMM. The AMM v4 instruction reference now describes the market account at pool creation as "not validated", used only as a seed.

AMM v4 pools still trade and are still routed by aggregators. If your token already has one, you can keep adding to it with Raydium Add Liquidity. For a new pool, there is little reason to choose it. The market ID question is covered in do you need an OpenBook market ID?

What is Raydium CLMM?

CLMM is concentrated liquidity, the model Uniswap v3 made popular. You choose a minimum and maximum price, and your capital is used only while the price is inside that range. Inside it, the same SOL provides much more depth and earns more fees than in a full-range pool; outside it, the position holds only one of the two tokens and earns nothing.

What that means in practice:

• You receive a position NFT, not LP tokens. Raydium's docs say you "receive a position NFT, not fungible LP tokens." There is no LP supply for buyers to check, so "LP burned" percentages do not apply.
• No creation fee. Raydium lists rent only for new CLMM pools.
• Active management. If a memecoin's price leaves your range, your liquidity stops working until you move it. Raydium's guide notes that "wide CLMM ranges barely beat CPMM" on long-tail pairs.
• Locking works, burning does not. Burn & Earn accepts CLMM positions; Raydium recommends full-range positions for locks, warning that "CLMM tight ranges are a trap".

CLMM is the right tool for stable pairs and blue-chip pairs where you watch the price. For a brand-new token whose price may move 10× in a day, CPMM is simpler and almost as efficient.

Which pool type should you choose?

1. Launching a new token, SPL or Token-2022: CPMM, 0.25% or 1% tier.
2. Your token already has an AMM v4 pool with most of the volume: add to it rather than splitting liquidity, or migrate deliberately.
3. Stable or major pair, and you will manage ranges: CLMM.
4. You want liquidity locked forever but keep earning fees: CPMM or CLMM with Burn & Earn; see how to lock liquidity on Raydium.
5. You want the simplest proof for buyers: CPMM LP burned, which anyone can check from the LP mint's supply. Burned vs locked liquidity compares the two signals.

What about OpenBook markets?

You only ever needed one for AMM v4. SOLTidy keeps an OpenBook Market Creator for flows that still ask for a market ID, at 0.1 SOL plus about 0.24 SOL of rent for the minimum size, but after Raydium's July 2026 upgrade a new token rarely needs it. CPMM and CLMM never did.

Bottom line

CPMM is Raydium's default for new tokens in November 2026: Token-2022 support, a choice of fees, LP tokens you can burn or lock, no order book. AMM v4 is for pairs that already live there. CLMM pays more per SOL in exchange for watching a price range, which is rarely worth it for a fresh launch.