diff --git a/programs/mango-v4/src/instructions/mod.rs b/programs/mango-v4/src/instructions/mod.rs
index 43bc8420e..4fbabefb0 100644
--- a/programs/mango-v4/src/instructions/mod.rs
+++ b/programs/mango-v4/src/instructions/mod.rs
@@ -29,6 +29,7 @@ pub use perp_place_order::*;
 pub use perp_settle_fees::*;
 pub use perp_settle_pnl::*;
 pub use perp_update_funding::*;
+pub use perp_zero_out::*;
 pub use serum3_cancel_all_orders::*;
 pub use serum3_cancel_order::*;
 pub use serum3_close_open_orders::*;
@@ -84,6 +85,7 @@ mod perp_place_order;
 mod perp_settle_fees;
 mod perp_settle_pnl;
 mod perp_update_funding;
+mod perp_zero_out;
 mod serum3_cancel_all_orders;
 mod serum3_cancel_order;
 mod serum3_close_open_orders;
diff --git a/programs/mango-v4/src/instructions/perp_zero_out.rs b/programs/mango-v4/src/instructions/perp_zero_out.rs
new file mode 100644
index 000000000..e93b03579
--- /dev/null
+++ b/programs/mango-v4/src/instructions/perp_zero_out.rs
@@ -0,0 +1,48 @@
+use anchor_lang::prelude::*;
+
+use crate::error::*;
+use crate::state::*;
+
+#[derive(Accounts)]
+pub struct PerpZeroOutForMarket<'info> {
+    #[account(
+        has_one = admin,
+        constraint = group.load()?.is_operational() @ MangoError::GroupIsHalted,
+        constraint = group.load()?.is_testing()
+    )]
+    pub group: AccountLoader<'info, Group>,
+
+    #[account(
+        mut,
+        has_one = group,
+        constraint = account.load()?.is_operational() @ MangoError::AccountIsFrozen
+    )]
+    pub account: AccountLoader<'info, MangoAccountFixed>,
+
+    #[account(
+        has_one = group,
+        constraint = perp_market.load()?.perp_market_index == 1
+    )]
+    pub perp_market: AccountLoader<'info, PerpMarket>,
+
+    pub admin: Signer<'info>,
+}
+
+pub fn perp_zero_out_for_market(ctx: Context<PerpZeroOutForMarket>) -> Result<()> {
+    let mut account = ctx.accounts.account.load_full_mut()?;
+
+    let perp_market = ctx.accounts.perp_market.load()?;
+
+    let perp_position = account.perp_position_mut(perp_market.perp_market_index)?;
+    *perp_position = PerpPosition::default();
+
+    for i in 0..account.header.perp_oo_count() {
+        let oo = account.perp_order_mut_by_raw_index(i);
+        if !oo.is_active_for_market(perp_market.perp_market_index) {
+            continue;
+        }
+        *oo = PerpOpenOrder::default();
+    }
+
+    Ok(())
+}
diff --git a/programs/mango-v4/src/lib.rs b/programs/mango-v4/src/lib.rs
index aaa648cec..4065269a1 100644
--- a/programs/mango-v4/src/lib.rs
+++ b/programs/mango-v4/src/lib.rs
@@ -557,6 +557,10 @@ pub mod mango_v4 {
         instructions::perp_deactivate_position(ctx)
     }
 
+    pub fn perp_zero_out_for_market(ctx: Context<PerpZeroOutForMarket>) -> Result<()> {
+        instructions::perp_zero_out_for_market(ctx)
+    }
+
     #[allow(clippy::too_many_arguments)]
     pub fn perp_place_order(
         ctx: Context<PerpPlaceOrder>,
diff --git a/ts/client/src/client.ts b/ts/client/src/client.ts
index 8f81cbfb7..ff389b268 100644
--- a/ts/client/src/client.ts
+++ b/ts/client/src/client.ts
@@ -1900,6 +1900,23 @@ export class MangoClient {
     );
   }
 
+  public async perpZeroOutForMarket(
+    group: Group,
+    mangoAccount: MangoAccount,
+    perpMarketIndex: PerpMarketIndex,
+  ): Promise<TransactionSignature> {
+    const perpMarket = group.getPerpMarketByMarketIndex(perpMarketIndex);
+    return await this.program.methods
+      .perpZeroOutForMarket()
+      .accounts({
+        group: group.publicKey,
+        account: mangoAccount.publicKey,
+        perpMarket: perpMarket.publicKey,
+        admin: group.admin,
+      })
+      .rpc();
+  }
+
   public async perpPlaceOrder(
     group: Group,
     mangoAccount: MangoAccount,
diff --git a/ts/client/src/mango_v4.ts b/ts/client/src/mango_v4.ts
index 7ec1342ff..98f0c103e 100644
--- a/ts/client/src/mango_v4.ts
+++ b/ts/client/src/mango_v4.ts
@@ -2858,6 +2858,32 @@ export type MangoV4 = {
       ],
       "args": []
     },
+    {
+      "name": "perpZeroOutForMarket",
+      "accounts": [
+        {
+          "name": "group",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "account",
+          "isMut": true,
+          "isSigner": false
+        },
+        {
+          "name": "perpMarket",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "admin",
+          "isMut": false,
+          "isSigner": true
+        }
+      ],
+      "args": []
+    },
     {
       "name": "perpPlaceOrder",
       "accounts": [
@@ -10748,6 +10774,32 @@ export const IDL: MangoV4 = {
       ],
       "args": []
     },
+    {
+      "name": "perpZeroOutForMarket",
+      "accounts": [
+        {
+          "name": "group",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "account",
+          "isMut": true,
+          "isSigner": false
+        },
+        {
+          "name": "perpMarket",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "admin",
+          "isMut": false,
+          "isSigner": true
+        }
+      ],
+      "args": []
+    },
     {
       "name": "perpPlaceOrder",
       "accounts": [