Introduction
Raydium is a decentralized exchange (DEX) and automated market maker (AMM) on the Solana blockchain, offering ultra‑fast swaps, low fees, deep liquidity, and hybrid integration with order book systems. :contentReference[oaicite:0]{index=0} This guide will walk you step by step through using Raydium Swap (spot), how to interact with its liquidity features, how its perps unit works, and how you can earn yield. At the end, you'll find FAQs and a conclusion to tie everything together.
1. How to Perform a Swap on Raydium (Spot)
Swapping tokens on Raydium is intuitive. The steps below outline it clearly:
- Go to the Raydium Swap page (e.g. via Raydium Docs – Swapping). :contentReference[oaicite:1]{index=1}
- Connect your Solana‑compatible wallet (e.g. Phantom, Solflare).
- Select the “From” and “To” tokens (choose SPL tokens or paste mint addresses).
- Enter the amount you want to swap (or the amount you want to receive).
- Review **Price Impact**, **Slippage Tolerance**, and **Minimum Received**. :contentReference[oaicite:2]{index=2}
- Click “Swap” and confirm the transaction in your wallet.
- Wait for confirmation (usually seconds) and check your balances. The interface sometimes shows “wrapped SOL” and offers to unwrap. :contentReference[oaicite:3]{index=3}
Be cautious with large swaps in low‑liquidity pools, and always check that you are on the official Raydium site (raydium.io) to avoid phishing.
2. Provide Liquidity & Earn Yield
After swapping, or even before, you may want to become a liquidity provider (LP) and earn fees and rewards.
- Select or create a liquidity pool (for example SOL–USDC, RAY–USDC) on Raydium.
- Deposit matched amounts of both tokens into that pool.
- You receive LP tokens in return, representing your share of that pool.
- You earn a portion of swap fees and, in many cases, additional incentives (e.g. RAY tokens). :contentReference[oaicite:4]{index=4}
- Optionally, stake your LP tokens in “farms” or “fusion pools” for extra yield.
Be aware of impermanent loss risk, especially when token prices diverge. Also, rewards depend on pool utilization and incentives.
3. Using Raydium’s Perps (Perpetual Futures)
Raydium recently integrated with **Orderly Network** to bring perpetual futures trading on Solana. :contentReference[oaicite:5]{index=5} Here's how to access it:
- Navigate to the “Perps” section in the Raydium interface. :contentReference[oaicite:6]{index=6}
- Connect your wallet and register (if required), possibly create an API key. :contentReference[oaicite:7]{index=7}
- Deposit USDC as collateral (currently, only USDC is accepted). :contentReference[oaicite:8]{index=8}
- Choose a trading pair and set your desired leverage (up to ~ 50×). :contentReference[oaicite:9]{index=9}
- Place orders (limit, market, stop) via the order book interface. :contentReference[oaicite:10]{index=10}
- Monitor margin, P&L, and liquidations in your account dashboard.
Understand the risks: perps allow amplified gains, but if margin falls under maintenance, your position could be liquidated.
4. Lending / Yield Opportunities
Raydium does not currently offer a full native lending / borrowing module like some DeFi platforms. Instead, yield opportunities come via liquidity provision + farming. :contentReference[oaicite:11]{index=11}
However, since Raydium’s perps unit uses collateral (USDC) and integrates with liquidity pools, your capital can be reused across use cases. And as new features evolve, a dedicated lending module may be added.
Frequently Asked Questions (FAQs)
1. How do I choose slippage tolerance on Raydium?
Slippage tolerance sets how much price deviation you accept. For stable pairs, use low (0.5 %), for volatile tokens, you may set 1–3 %. Adjust from settings before swapping. :contentReference[oaicite:12]{index=12}
2. Can I place limit orders on Raydium Swap?
In the core swap (AMM) interface, no — it’s an instantaneous swap. But via perps / order book integration, you can place limit / stop orders for perpetuals. :contentReference[oaicite:13]{index=13}
3. What tokens can I use as collateral for perps?
As of now, only **USDC** is accepted as collateral in Raydium’s perps module. :contentReference[oaicite:14]{index=14}
4. Is there a risk of transaction failure on Raydium?
Yes — sometimes swaps get stuck at “Transaction initiating” or time out. Some users increase priority fees or retry. :contentReference[oaicite:15]{index=15} Also, insufficient liquidity for token pairs might lead to failure. :contentReference[oaicite:16]{index=16}
5. Where can I find official Raydium documentation?
The official Raydium Docs site is the go‑to resource: docs.raydium.io. :contentReference[oaicite:17]{index=17} Also check Orderly’s blog for perps integration details: Orderly blog. :contentReference[oaicite:18]{index=18}
Conclusion
Raydium Swap offers a powerful and accessible way to trade tokens on Solana, combining the benefits of AMM swaps with deeper liquidity from order book integration. By following the steps above, you can safely execute swaps, contribute liquidity and earn yield, and even access perpetuals trading via Raydium’s perps module powered by Orderly. While true lending / borrowing isn’t native yet, the evolving DeFi space could bring such features to Raydium in future updates. Always stay updated with the official docs, manage risk, and double‑check every transaction. Happy trading!