How to Create an OpenBook Market on Solana
OpenBook markets are required for legacy Raydium AmmV4 pools. This guide walks you through configuration, costs, and the creation process.
Do you actually need this?
If you're launching a new token, the Raydium CPMM pool is simpler and cheaper — no OpenBook market required. Only use this guide if you specifically need an AmmV4 pool.
Step-by-step
Check if you need an OpenBook market
OpenBook markets are only required for legacy Raydium AmmV4 pools. If you're using the modern Raydium CPMM v2 flow (recommended), you can skip this step entirely — CPMM pools don't need an OpenBook market.
Prepare your token pair
You need two token mint addresses: your token (base) and the quote token (usually SOL wrapped as WSOL). Both must be valid SPL tokens on Solana mainnet.
Configure market parameters
Set the lot size (minimum tradeable quantity) and tick size (minimum price increment). CoinDevTools provides recommended defaults based on your token supply. Incorrect values can make trading impractical.
Fund the creation
Creating an OpenBook market costs approximately 1.2-2 SOL for rent-exempt account creation. This SOL is locked in the market accounts — it's not a fee, it's Solana rent.
Create the market
Connect your wallet, enter the parameters, and confirm. CoinDevTools handles the multi-instruction transaction that creates the market, event queue, bids, and asks accounts.
Use the market ID for Raydium
Copy the OpenBook Market ID from the success screen. You'll paste this into the Raydium AmmV4 Pool creator to link your liquidity pool to the order book.
Related
Ready to create?
FAQ
Do I need an OpenBook market for a Raydium pool?
Only for legacy AmmV4 pools. The modern Raydium CPMM v2 pools do NOT require an OpenBook market — they're simpler, cheaper, and recommended for most new token launches.
How much does it cost to create an OpenBook market?
Approximately 1.2-2 SOL, depending on the market account sizes. This SOL is locked as Solana rent-exempt balance — it's not a service fee. CoinDevTools does not charge an additional fee for market creation.
What lot size and tick size should I use?
Lot size determines the minimum trade amount. Tick size determines the minimum price change. CoinDevTools provides recommended defaults based on your token's total supply. For a 1B supply token, typical values are lot size 100 and tick size 0.00001.
Can I create multiple OpenBook markets for the same token?
Yes, but there's rarely a reason to. Each market is independent. Most tokens only need one market paired with SOL (WSOL).