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RAYDIUM · POOL TYPES

Raydium CPMM vs CLMM: Why the Liquidity Model Changes Your Analysis

Raydium offers constant-product pools and concentrated-liquidity pools. The same token can behave very differently depending on which one you analyse.

By ChartsPod Editorial Team · Reviewed by ChartsPod Research
Published · Updated · 5 min read

Short answer

A Raydium CPMM pool spreads liquidity along a constant-product curve across all prices, so depth changes smoothly and TVL is a fair guide to depth. A CLMM pool lets providers concentrate liquidity in ranges; Raydium's documentation ties CLMM rewards to liquidity being in range. CLMM can be much deeper near the current price but thin outside it. When analysing a token, identify the pool type first, then measure depth the way that type requires.

Two models

CPMM vs CLMMCPMM vs CLMM. Left, CPMM (constant product): Liquidity across all prices; Smooth depth; TVL ≈ usable depth guide; Simple impact maths. Right, CLMM (concentrated): Liquidity in chosen ranges; Deep near price, thin outside; TVL can mislead; Only in-range liquidity trades.CPMM (CONSTANT PRODUCT)Liquidity across all pricesSmooth depthTVL ≈ usable depth guideSimple impact mathsCLMM (CONCENTRATED)Liquidity in chosen rangesDeep near price, thin outsideTVL can misleadOnly in-range liquidity trades
Know the model before reading depth. Original ChartsPod editorial graphic.

Check Raydium CPMM vs CLMM against a live market before relying on it.

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How analysis changes

TaskCPMMCLMM
Estimate impact2 × size ÷ quote reserveSum in-range depth along the path
Liquidity changeReservesRange distribution
After big movesDepth similarDepth may collapse
Compare poolsTVL reasonableActive depth needed
Illustrative impact of a $10k buy (%)Illustrative impact of a $10k buy (%): CPMM, $500k quote 4.0 %; CLMM, deep in range 1.2 %; CLMM, out of range 9.0 %.ILLUSTRATIVE IMPACT OF A $10K BUY (%)CPMM, $500k quote4.0 %CLMM, deep in range1.2 %CLMM, out of range9.0 %
CLMM can be best or worst depending on where liquidity sits. Original ChartsPod editorial graphic.

Example: one token, two Raydium pools

Illustrative: a token has a CPMM pool with $500,000 quote reserve and a CLMM pool with $1.4M TVL. Near the current price, the CLMM pool has $900,000 of in-range depth and offers the best price for a $10,000 trade. After a 20% drop, in-range CLMM depth falls to $60,000 while the CPMM pool's depth is unchanged in structure; now the CPMM pool is better.

Routers usually handle this automatically, but analysts comparing liquidity or volume across the two pools need to know the pool type to interpret the numbers.

In practice

Raydium pool analysisRaydium pool analysis: Identify pool type; For CPMM, use reserves; For CLMM, check range distribution; Compare same token across types; Recheck CLMM after large moves.RAYDIUM POOL ANALYSISIdentify pool typeFor CPMM, use reservesFor CLMM, check range distributionCompare same token across typesRecheck CLMM after large moves
One method does not fit both. Original ChartsPod editorial graphic.

See Concentrated Liquidity vs Total TVL: Measure Active Depth, Concentrated Liquidity Outside the Current Price: Why TVL Can Mislead and How Much Liquidity Does a DEX Trade Need? Calculate Price Impact.

Identify Raydium pool type first, then measure depth with the method that fits it.

Compare Raydium CPMM vs CLMM across Binance, Bybit, OKX and Hyperliquid markets.

Open markets in ChartsPod

Questions readers ask

What is CPMM on Raydium?

A constant-product pool with liquidity across all prices.

What is CLMM?

A concentrated-liquidity pool where liquidity sits in chosen ranges.

Which is deeper?

CLMM can be deeper near price and thinner elsewhere.

Sources and methodology

DEX Screener behaviour comes from its official documentation; pool and token concepts from CoinGecko, Uniswap, Raydium and Solana documentation, as read on 17 October 2026. Examples use illustrative numbers and do not refer to any real token. Nothing here is a recommendation to trade any token. Raydium pool behaviour is described from its documentation on CPMM and CLMM pools.

  1. Raydium: Staking into farms — CPMM vs CLMM pools.
  2. Uniswap: Concentrated liquidity — active liquidity within price ranges.

This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.

CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.