> ## Documentation Index
> Fetch the complete documentation index at: https://docs.exponent.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Market Offer

> Low-level instruction to execute a market order on the orderbook

# createMarketOfferInstruction

Builds a raw instruction to execute a market order that fills against existing limit orders on the orderbook, allowing users to instantly buy or sell YT tokens at the best available prices.

## Usage

```typescript theme={null}
import { createMarketOfferInstruction } from "@exponent-labs/exponent-sdk/client/orderbook";
import { PublicKey } from "@solana/web3.js";

const ix = createMarketOfferInstruction(
  {
    trader: wallet.publicKey,
    orderbook: orderbookAddress,
    vault: vaultAddress,
    cpiAccountOrderbook: cpiAccountsOrderbook,
    yieldPosition: yieldPositionAddress,
    tokenEscrowYt: orderbookYtEscrow,
    tokenEscrowSy: orderbookSyEscrow,
    tokenEscrowPt: orderbookPtEscrow,
    tokenSyTrader: userSyTokenAccount,
    tokenYtTrader: userYtTokenAccount,
    tokenPtTrader: userPtTokenAccount,
    systemProgram: SYSTEM_PROGRAM_ID,
    syProgram: syProgramId,
    tokenProgram: TOKEN_2022_PROGRAM_ID,
    exponentCore: EXPONENT_CORE_PROGRAM_ID,
    addressLookupTable: vaultLookupTable,
    eventAuthority: eventAuthorityPda,
    program: EXPONENT_ORDERBOOK_PROGRAM_ID,
  },
  {
    maxPriceApy: 7.5,
    amount: BigInt(1_000_000),
    minAmountOut: BigInt(900_000),
    offerType: { buyYt: {} },
    virtualOffer: false,
  }
);
```

## Accounts

| Name                  | Type        | Signer | Writable | Description                         |
| --------------------- | ----------- | ------ | -------- | ----------------------------------- |
| `trader`              | `PublicKey` | Yes    | No       | The user executing the market order |
| `orderbook`           | `PublicKey` | No     | Yes      | Orderbook account                   |
| `vault`               | `PublicKey` | No     | Yes      | Vault account                       |
| `cpiAccountOrderbook` | `PublicKey` | No     | No       | CPI accounts orderbook              |
| `yieldPosition`       | `PublicKey` | No     | Yes      | Vault robot yield position          |
| `tokenEscrowYt`       | `PublicKey` | No     | Yes      | Orderbook YT escrow account         |
| `tokenEscrowSy`       | `PublicKey` | No     | Yes      | Orderbook SY escrow account         |
| `tokenEscrowPt`       | `PublicKey` | No     | Yes      | Orderbook PT escrow account         |
| `tokenSyTrader`       | `PublicKey` | No     | Yes      | Trader SY token account             |
| `tokenYtTrader`       | `PublicKey` | No     | Yes      | Trader YT token account             |
| `tokenPtTrader`       | `PublicKey` | No     | Yes      | Trader PT token account             |
| `systemProgram`       | `PublicKey` | No     | No       | System program                      |
| `syProgram`           | `PublicKey` | No     | No       | SY program                          |
| `tokenProgram`        | `PublicKey` | No     | No       | SPL Token 2022 program              |
| `exponentCore`        | `PublicKey` | No     | No       | Exponent Core program               |
| `addressLookupTable`  | `PublicKey` | No     | No       | Vault address lookup table          |
| `eventAuthority`      | `PublicKey` | No     | No       | Event authority PDA                 |
| `program`             | `PublicKey` | No     | No       | Exponent Orderbook program          |

## Args

| Name           | Type        | Description                                               |
| -------------- | ----------- | --------------------------------------------------------- |
| `maxPriceApy`  | `number`    | Maximum price in implied APY (f64)                        |
| `amount`       | `bigint`    | Amount of tokens to trade (in base units)                 |
| `minAmountOut` | `bigint`    | Minimum amount of tokens to receive (slippage protection) |
| `offerType`    | `OfferType` | Type of offer: `{ sellYt: {} }` or `{ buyYt: {} }`        |
| `virtualOffer` | `boolean`   | Whether this is a virtual offer                           |

## Returns

`TransactionInstruction` — a transaction instruction ready to be added to a transaction.