diff --git a/package.json b/package.json
index e2e0736f1..46b88ded0 100644
--- a/package.json
+++ b/package.json
@@ -62,7 +62,7 @@
     "@project-serum/serum": "0.13.65",
     "@pythnetwork/client": "~2.14.0",
     "@solana/spl-token": "0.3.7",
-    "@solana/web3.js": "^1.73.2",
+    "@solana/web3.js": "^1.78.2",
     "@switchboard-xyz/sbv2-lite": "^0.1.6",
     "big.js": "^6.1.1",
     "binance-api-node": "^0.12.0",
diff --git a/ts/client/src/client.ts b/ts/client/src/client.ts
index 84cef99dd..9957714dd 100644
--- a/ts/client/src/client.ts
+++ b/ts/client/src/client.ts
@@ -26,6 +26,7 @@ import {
   SystemProgram,
   TransactionInstruction,
   TransactionSignature,
+  RecentPrioritizationFees,
 } from '@solana/web3.js';
 import bs58 from 'bs58';
 import chunk from 'lodash/chunk';
@@ -68,7 +69,12 @@ import {
   buildIxGate,
   TokenRegisterParams,
 } from './clientIxParamBuilder';
-import { MANGO_V4_ID, OPENBOOK_PROGRAM_ID, RUST_U64_MAX } from './constants';
+import {
+  MANGO_V4_ID,
+  MAX_RECENT_PRIORITY_FEE_ACCOUNTS,
+  OPENBOOK_PROGRAM_ID,
+  RUST_U64_MAX,
+} from './constants';
 import { Id } from './ids';
 import { IDL, MangoV4 } from './mango_v4';
 import { I80F48 } from './numbers/I80F48';
@@ -97,6 +103,7 @@ export type MangoClientOptions = {
   idsSource?: IdsSource;
   postSendTxCallback?: ({ txid }: { txid: string }) => void;
   prioritizationFee?: number;
+  estimateFee?: boolean;
   txConfirmationCommitment?: Commitment;
   openbookFeesToDao?: boolean;
 };
@@ -105,6 +112,7 @@ export class MangoClient {
   private idsSource: IdsSource;
   private postSendTxCallback?: ({ txid }) => void;
   private prioritizationFee: number;
+  private estimateFee: boolean;
   private txConfirmationCommitment: Commitment;
   private openbookFeesToDao: boolean;
 
@@ -116,6 +124,7 @@ export class MangoClient {
   ) {
     this.idsSource = opts?.idsSource || 'get-program-accounts';
     this.prioritizationFee = opts?.prioritizationFee || 0;
+    this.estimateFee = opts?.estimateFee || false;
     this.postSendTxCallback = opts?.postSendTxCallback;
     this.openbookFeesToDao = opts?.openbookFeesToDao ?? true;
     this.txConfirmationCommitment =
@@ -140,13 +149,21 @@ export class MangoClient {
     ixs: TransactionInstruction[],
     opts: any = {},
   ): Promise<string> {
+    let prioritizationFee: number;
+    if (opts.prioritizationFee) {
+      prioritizationFee = opts.prioritizationFee;
+    } else if (this.estimateFee) {
+      prioritizationFee = await this.estimatePrioritizationFee(ixs);
+    } else {
+      prioritizationFee = this.prioritizationFee;
+    }
     return await sendTransaction(
       this.program.provider as AnchorProvider,
       ixs,
       opts.alts ?? [],
       {
         postSendTxCallback: this.postSendTxCallback,
-        prioritizationFee: this.prioritizationFee,
+        prioritizationFee,
         txConfirmationCommitment: this.txConfirmationCommitment,
         ...opts,
       },
@@ -4193,4 +4210,55 @@ export class MangoClient {
       transactionInstructions,
     );
   }
+
+  /**
+   * Returns an estimate of a prioritization fee for a set of instructions.
+   *
+   * The estimate is based on the exponential moving average of the prioritization fees of accounts that will be involved in the transaction.
+   *
+   * @param ixs - the instructions that make up the transaction
+   * @returns prioritizationFeeEstimate -- in microLamports
+   */
+  public async estimatePrioritizationFee(
+    ixs: TransactionInstruction[],
+  ): Promise<number> {
+    const accounts = [
+      ...new Set(ixs.map((x) => x.keys.map((k) => k.pubkey)).flat()),
+    ].slice(0, MAX_RECENT_PRIORITY_FEE_ACCOUNTS);
+    const priorityFees = await this.connection.getRecentPrioritizationFees({
+      lockedWritableAccounts: accounts,
+    });
+
+    // get max priority fee per slot (and sort by slot from old to new)
+    const flatFees = priorityFees.flat();
+    const maxFeeBySlot = flatFees.reduce(
+      (
+        acc: Record<number, RecentPrioritizationFees>,
+        fee: RecentPrioritizationFees,
+      ) => {
+        if (
+          !acc[fee.slot] ||
+          fee.prioritizationFee > acc[fee.slot].prioritizationFee
+        ) {
+          acc[fee.slot] = fee;
+        }
+        return acc;
+      },
+      {},
+    );
+    const maximumFees = Object.values(maxFeeBySlot).sort(
+      (a, b) => a.slot - b.slot,
+    );
+
+    // take the EMA
+    const smoothingFactor = 2 / (maximumFees.length + 1);
+    let ema = maximumFees[0].prioritizationFee;
+    for (let i = 1; i < maximumFees.length; i++) {
+      ema =
+        maximumFees[i].prioritizationFee * smoothingFactor +
+        ema * (1 - smoothingFactor);
+    }
+
+    return Math.ceil(1.2 * ema);
+  }
 }
diff --git a/ts/client/src/constants/index.ts b/ts/client/src/constants/index.ts
index 1d8f39ea4..11e4ec270 100644
--- a/ts/client/src/constants/index.ts
+++ b/ts/client/src/constants/index.ts
@@ -25,3 +25,4 @@ export const MANGO_V4_ID = {
 export const USDC_MINT = new PublicKey(
   'EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v',
 );
+export const MAX_RECENT_PRIORITY_FEE_ACCOUNTS = 128;
diff --git a/yarn.lock b/yarn.lock
index f126a9eea..c0dbe0b0c 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -37,6 +37,13 @@
   dependencies:
     regenerator-runtime "^0.13.11"
 
+"@babel/runtime@^7.22.6":
+  version "7.22.10"
+  resolved "https://registry.yarnpkg.com/@babel/runtime/-/runtime-7.22.10.tgz#ae3e9631fd947cb7e3610d3e9d8fef5f76696682"
+  integrity sha512-21t/fkKLMZI4pqP2wlmsQAWnYW1PDyKyyUV4vCi+B25ydmdaYTKXPwCj0BzSUnZf4seIiYvSA3jcZ3gdsMFkLQ==
+  dependencies:
+    regenerator-runtime "^0.14.0"
+
 "@colors/colors@1.5.0":
   version "1.5.0"
   resolved "https://registry.yarnpkg.com/@colors/colors/-/colors-1.5.0.tgz#bb504579c1cae923e6576a4f5da43d25f97bdbd9"
@@ -171,11 +178,23 @@
     "@jridgewell/resolve-uri" "^3.0.3"
     "@jridgewell/sourcemap-codec" "^1.4.10"
 
+"@noble/curves@^1.0.0":
+  version "1.1.0"
+  resolved "https://registry.yarnpkg.com/@noble/curves/-/curves-1.1.0.tgz#f13fc667c89184bc04cccb9b11e8e7bae27d8c3d"
+  integrity sha512-091oBExgENk/kGj3AZmtBDMpxQPDtxQABR2B9lb1JbVTs6ytdzZNwvhxQ4MWasRNEzlbEH8jCWFCwhF/Obj5AA==
+  dependencies:
+    "@noble/hashes" "1.3.1"
+
 "@noble/ed25519@^1.7.0":
   version "1.7.3"
   resolved "https://registry.yarnpkg.com/@noble/ed25519/-/ed25519-1.7.3.tgz#57e1677bf6885354b466c38e2b620c62f45a7123"
   integrity sha512-iR8GBkDt0Q3GyaVcIu7mSsVIqnFbkbRzGLWlvhwunacoLwt4J3swfKhfaM6rN6WY+TBGoYT1GtT1mIh2/jGbRQ==
 
+"@noble/hashes@1.3.1", "@noble/hashes@^1.3.0":
+  version "1.3.1"
+  resolved "https://registry.yarnpkg.com/@noble/hashes/-/hashes-1.3.1.tgz#8831ef002114670c603c458ab8b11328406953a9"
+  integrity sha512-EbqwksQwz9xDRGfDST86whPBgM65E0OH/pCgqW0GBVzO22bNE+NuIbeTb714+IfSjU3aRk47EUvXIb5bTsenKA==
+
 "@noble/hashes@^1.1.2":
   version "1.2.0"
   resolved "https://registry.yarnpkg.com/@noble/hashes/-/hashes-1.2.0.tgz#a3150eeb09cc7ab207ebf6d7b9ad311a9bdbed12"
@@ -413,7 +432,7 @@
     rpc-websockets "^7.5.0"
     superstruct "^0.14.2"
 
-"@solana/web3.js@^1.68.0", "@solana/web3.js@^1.73.2":
+"@solana/web3.js@^1.68.0":
   version "1.73.2"
   resolved "https://registry.yarnpkg.com/@solana/web3.js/-/web3.js-1.73.2.tgz#4b30cd402b35733dae3a7d0b638be26a7742b395"
   integrity sha512-9WACF8W4Nstj7xiDw3Oom22QmrhBh0VyZyZ7JvvG3gOxLWLlX3hvm5nPVJOGcCE/9fFavBbCUb5A6CIuvMGdoA==
@@ -435,6 +454,27 @@
     rpc-websockets "^7.5.0"
     superstruct "^0.14.2"
 
+"@solana/web3.js@^1.78.2":
+  version "1.78.3"
+  resolved "https://registry.yarnpkg.com/@solana/web3.js/-/web3.js-1.78.3.tgz#1214f17f51612e403c4dc7844c7a9694938bfbab"
+  integrity sha512-qhpnyIlrj/4Czw1dBFZK6KgZBk5FwuJhvMl0C7m94jhl90yDC8b6w4svKwPjhB+OOrdQAzHyRp0+ocEs/Liw7w==
+  dependencies:
+    "@babel/runtime" "^7.22.6"
+    "@noble/curves" "^1.0.0"
+    "@noble/hashes" "^1.3.0"
+    "@solana/buffer-layout" "^4.0.0"
+    agentkeepalive "^4.3.0"
+    bigint-buffer "^1.1.5"
+    bn.js "^5.2.1"
+    borsh "^0.7.0"
+    bs58 "^4.0.1"
+    buffer "6.0.3"
+    fast-stable-stringify "^1.0.0"
+    jayson "^4.1.0"
+    node-fetch "^2.6.12"
+    rpc-websockets "^7.5.1"
+    superstruct "^0.14.2"
+
 "@switchboard-xyz/sbv2-lite@^0.1.6":
   version "0.1.6"
   resolved "https://registry.yarnpkg.com/@switchboard-xyz/sbv2-lite/-/sbv2-lite-0.1.6.tgz#dc3fbb5b3b028dbd3c688b991bcc48a670131ddb"
@@ -672,6 +712,13 @@ agentkeepalive@^4.2.1:
     depd "^1.1.2"
     humanize-ms "^1.2.1"
 
+agentkeepalive@^4.3.0:
+  version "4.5.0"
+  resolved "https://registry.yarnpkg.com/agentkeepalive/-/agentkeepalive-4.5.0.tgz#2673ad1389b3c418c5a20c5d7364f93ca04be923"
+  integrity sha512-5GG/5IbQQpC9FpkRGsSvZI5QYeSCzlJHdpBQntCsuTOxhKD8lqKhrleg2Yi7yvMIf82Ycmmqln9U8V9qwEiJew==
+  dependencies:
+    humanize-ms "^1.2.1"
+
 ajv@^6.10.0, ajv@^6.12.4:
   version "6.12.6"
   resolved "https://registry.npmjs.org/ajv/-/ajv-6.12.6.tgz"
@@ -858,7 +905,7 @@ bn.js@^4.11.9:
   resolved "https://registry.npmjs.org/bn.js/-/bn.js-4.12.0.tgz"
   integrity sha512-c98Bf3tPniI+scsdk237ku1Dc3ujXQTSgyiPUDEOe7tRkhrqridvh8klBv0HCEso1OLOYcHuCv/cS6DNxKH+ZA==
 
-bn.js@^5.0.0, bn.js@^5.1.0, bn.js@^5.1.2, bn.js@^5.1.3, bn.js@^5.2.0:
+bn.js@^5.0.0, bn.js@^5.1.0, bn.js@^5.1.2, bn.js@^5.1.3, bn.js@^5.2.0, bn.js@^5.2.1:
   version "5.2.1"
   resolved "https://registry.yarnpkg.com/bn.js/-/bn.js-5.2.1.tgz#0bc527a6a0d18d0aa8d5b0538ce4a77dccfa7b70"
   integrity sha512-eXRvHzWyYPBuB4NBy0cmYQjGitUrtqwbvlzP3G6VFnNRbsZQIxQ10PbKKHt8gZ/HW/D/747aDl+QkDqg3KQLMQ==
@@ -1754,6 +1801,24 @@ jayson@^3.4.4:
     uuid "^8.3.2"
     ws "^7.4.5"
 
+jayson@^4.1.0:
+  version "4.1.0"
+  resolved "https://registry.yarnpkg.com/jayson/-/jayson-4.1.0.tgz#60dc946a85197317f2b1439d672a8b0a99cea2f9"
+  integrity sha512-R6JlbyLN53Mjku329XoRT2zJAE6ZgOQ8f91ucYdMCD4nkGCF9kZSrcGXpHIU4jeKj58zUZke2p+cdQchU7Ly7A==
+  dependencies:
+    "@types/connect" "^3.4.33"
+    "@types/node" "^12.12.54"
+    "@types/ws" "^7.4.4"
+    JSONStream "^1.3.5"
+    commander "^2.20.3"
+    delay "^5.0.0"
+    es6-promisify "^5.0.0"
+    eyes "^0.1.8"
+    isomorphic-ws "^4.0.1"
+    json-stringify-safe "^5.0.1"
+    uuid "^8.3.2"
+    ws "^7.4.5"
+
 js-sha256@^0.9.0:
   version "0.9.0"
   resolved "https://registry.npmjs.org/js-sha256/-/js-sha256-0.9.0.tgz"
@@ -2071,7 +2136,7 @@ node-addon-api@^2.0.0:
   resolved "https://registry.npmjs.org/node-addon-api/-/node-addon-api-2.0.2.tgz"
   integrity sha512-Ntyt4AIXyaLIuMHF6IOoTakB3K+RWxwtsHNRxllEoA6vPwP9o4866g6YWDLUdnucilZhmkxiHwHr11gAENw+QA==
 
-node-fetch@2, node-fetch@2.6.7, node-fetch@^2.6.1, node-fetch@^2.6.7, "node-fetch@npm:@blockworks-foundation/node-fetch@2.6.11":
+node-fetch@2, node-fetch@2.6.7, node-fetch@^2.6.1, node-fetch@^2.6.12, node-fetch@^2.6.7, "node-fetch@npm:@blockworks-foundation/node-fetch@2.6.11":
   version "2.6.11"
   resolved "https://registry.yarnpkg.com/@blockworks-foundation/node-fetch/-/node-fetch-2.6.11.tgz#fb536ef0e6a960e7b7993f3c1d3b3bba9bdfbc56"
   integrity sha512-HeDTxpIypSR4qCoqgUXGr8YL4OG1z7BbV4VhQ9iQs+pt2wV3MtqO+sQk2vXK3WDKu5C6BsbGmWE22BmIrcuOOw==
@@ -2241,6 +2306,11 @@ regenerator-runtime@^0.13.11, regenerator-runtime@^0.13.4:
   resolved "https://registry.yarnpkg.com/regenerator-runtime/-/regenerator-runtime-0.13.11.tgz#f6dca3e7ceec20590d07ada785636a90cdca17f9"
   integrity sha512-kY1AZVr2Ra+t+piVaJ4gxaFaReZVH40AKNo7UCX6W+dEwBo/2oZJzqfuN1qLq1oL45o56cPaTXELwrTh8Fpggg==
 
+regenerator-runtime@^0.14.0:
+  version "0.14.0"
+  resolved "https://registry.yarnpkg.com/regenerator-runtime/-/regenerator-runtime-0.14.0.tgz#5e19d68eb12d486f797e15a3c6a918f7cec5eb45"
+  integrity sha512-srw17NI0TUWHuGa5CFGGmhfNIeja30WMBfbslPNhf6JrqQlLN5gcrvig1oqPxiVaXb0oW0XRKtH6Nngs5lKCIA==
+
 regexpp@^3.1.0, regexpp@^3.2.0:
   version "3.2.0"
   resolved "https://registry.npmjs.org/regexpp/-/regexpp-3.2.0.tgz"