Instructions
Documentation for instructions for interacting with the Phoenix program.
Last updated
Documentation for instructions for interacting with the Phoenix program.
Last updated
Instructions to interact with the Phoenix program are available in the crate. The Phoenix IDL is available on .
The Swap instruction is used for crossing the book. Aggregators and other programs wishing to access Phoenix liquidity will primarily use this instruction. A Swap instruction can be created using phoenix-types::instructions::create_new_order_instruction, passing in an OrderPacket::ImmediateOrCancel order specification.
The SwapWithFreeFunds is the same as the Swap instruction except that it requires the caller to have an Approved seat on the market. It will attempt to cross the book only using funds that the trader has deposited into the market vaults. If insufficient funds are deposited, this instruction will fail. This instruction requires fewer account inputs and consumes less compute than `Swap`, which potentially makes it easier to compose with.
The RequestSeat instruction is used to request a Seat on a given Phoenix Market. A Seat is required to place limit orders.
The PlaceLimitOrder instruction is used for placing liquidity on the book. Only traders with a may call this instruction. A PlaceLimitOrder instruction can be created using phoenix-types::instructions::create_new_order_instruction, passing in an OrderPacket::Limit (standard limit order) or an OrderPacket::PostOnly (post-only order) order specification.
The PlaceLimitOrderWithFreeFunds is the same as the PlaceLimitOrder instruction except that it will attempt to place an order only using funds that the trader has deposited into the market vaults. If insufficient funds are deposited, this instruction will fail. This instruction requires fewer account inputs and consumes less compute than PlaceLimitOrder, which potentially makes it easier to compose with.
The ReduceOrder instruction is used to reduce the size of an order resting on the book, while maintaining queue position.
The ReduceOrderWithFreeFunds is the same as the ReduceOrder instruction except that it will not withdraw the freed funds. This instruction requires fewer account inputs and consumes less compute than ReduceOrder, which potentially makes it easier to compose with.
The CancelAllOrders instruction can be called by a market maker to cancel all of their resting orders on a particular market.
The CancelAllOrdersWithFreeFunds is the same as the CancelAllOrders instruction except that it will not withdraw the freed funds. This instruction requires fewer account inputs and consumes less compute than CancelAllOrders, which potentially makes it easier to compose with.
The CancelMultipleOrdersById instruction can be called by a market maker to cancel specific orders on a particular market, selected by order ID.
The CancelMultipleOrdersByIdWithFreeFunds is the same as the CancelMultipleOrdersById instruction except that it will not withdraw the freed funds. This instruction requires fewer account inputs and consumes less compute than CancelMultipleOrdersById, which potentially makes it easier to compose with.
The CancelUpTo instruction can be called by a market maker to cancel all orders on one side of the book that are more aggressive than the specified price.
The CancelUpToWithFreeFunds is the same as the CancelUpTo instruction except that it will not withdraw the freed funds. This instruction requires fewer account inputs and consumes less compute than CancelUpTo, which potentially makes it easier to compose with.
The WithdrawFunds instruction can be called by a market maker to withdraw a specified number of quote lots and base lots from a market.
The DepositFunds instruction can be called by a market maker to deposit a specified number of quote lots and base lots to a market. This can be used in conjunction with market actions utilizing free funds (e.g. PlaceLimitOrderWithFreeFunds) so that token transfers are not required for every market action, reducing the compute required for those market actions.