Raydium volume bot: what changes after graduation
A token that completes its Pump.fun bonding curve moves to a real pool, and almost every assumption behind a curve-tuned campaign stops applying. Slippage becomes a function of pool depth rather than curve position, contention drops toward ordinary levels, and the pool type you land in changes how your trades behave. A campaign left unchanged through migration overpays and underdelivers.
What actually changes at migration
| Bonding curve | Raydium pool | |
|---|---|---|
| Price mechanism | Formula on supply | Pool ratio and depth |
| Slippage | Curve position | Trade size vs liquidity |
| Counterparty | None | The pool |
| Contention | High on new launches | Ordinary |
| Volume ceiling | Curve remaining | Pool depth |
The most common operational error is treating graduation as a moment to react to rather than plan for. Migration is exactly when new attention arrives, so a campaign that stalls during the handoff goes flat at the worst possible time. Enable the handoff before launching, not while a campaign is running.
AMM v4, CLMM and CPMM behave differently
On a constant-product pool, depth is smooth and slippage at a given size is straightforward to estimate from reserves. On a concentrated pool, depth depends on where price currently sits relative to the ranges providers chose, so the same trade can execute cleanly or badly depending on position. A campaign sizing trades from an assumption of smooth depth can hit a thin range and produce far more price impact than intended.
This affects the shape of a campaign rather than just its cost. If a series of buys pushes price into a sparse range, each subsequent buy moves price further, which inflates apparent price action while consuming the SOL budget faster. That looks like success on a chart and behaves like waste in the ledger.
Measured fees and failures on Raydium programs
| Program | Sampled tx | Failure rate | Median fee |
|---|---|---|---|
| Raydium AMM v4 | 52 | 11.5% | 29,020 |
| Raydium CLMM | 54 | 48.1% | 5,081 |
| Raydium CPMM low sample | 8 | 25% | 10,000 |
Read those numbers with the sample sizes in mind. A program with a few dozen sampled transactions tells you the order of magnitude and little more, which is why the rows are labelled rather than presented as precise. Full method, including how transactions are attributed to programs, is on the measurement page.
The comparison worth drawing is against the Pump.fun figures on the same page. Where curve traffic shows elevated failure rates from sniper contention, post-graduation routing usually does not, and that difference flows straight into cost per landed swap.
Configuring a post-graduation campaign
- Size against depth. Estimate slippage from reserves at your intended trade size before committing. A size that was sensible on the curve may be far too large for a thin pool.
- Bid lower. Contention after graduation is ordinarily lower, so the priority fees a launch window demanded are usually unnecessary. Mechanism in priority fees.
- Spread further. Without sniper competition there is less reason to compress activity, and spreading reduces both self-contention and price impact.
- Reconsider bundling. On a deeper pool, small trades are poor sandwich targets, so tips may be buying reliability rather than protection. See sandwich MEV.
Volion routes to the bonding curve, the Pump.fun AMM or a Raydium pool and hands off automatically at graduation, so activity continues through the migration window rather than pausing at it.
The other routing targets are measured on their own pages: PumpSwap, Meteora DLMM, Orca Whirlpools and Jupiter aggregator routing, with the whole picture on the Solana volume bot overview.