Retrying an EIP 1559 transaction

When you submit a transaction with a gas price that is too low to be included in the block, the transaction can be pending for a very long time. You might then want to update the transaction's gas price in order to get it mined. This concept becomes a bit more complex when it comes to EIP 1559.
Legacy transactions (pre-London fork) only need a gasPrice field in order to place a bid on gas price. Post-London, with EIP 1559, transactions can include one or both of maxPriorityFeePerGas (a tip to the miner) or maxFeePerGas (a total fee including tip to the miner). For the purposes of this tutorial, we will assume you have submitted a transaction with one or both of these fields at least once before.
As with legacy transactions, the way to update an EIP 1559 transaction is to make a new transaction call with the same nonce as your pending transaction, but with an updated gas price. In legacy transactions, you only needed to submit an updated gasPrice, which needed to be at least 10% higher than the pending transaction's price in order for minders to reconsider the transaction. The purpose is to convince miners that you are willing to pay more.
Post-London you have to submit an updated maxPriorityFeePerGas , or "tip". This is the amount that will go to the miner. Just as in legacy transactions, the tip needs to increase by at least 10% to be re-considered.
This new setup can be a tad problematic. If, for instance, you are using a fee estimator like Eth Gas Station, then you are likely submitting transactions with only the maxFeePerGas field. Meaning that you are not explicitly setting a tip — you are letting the system fill in a default for you. This is problematic because to update your transaction you need to submit a new maxPriorityFeePerGas. So in this instance you will need to fetch your pending transaction, check the maxPriorityFeePerGas field, and then submit a new transaction with the same nonce and an increased tip. You will also need to increase your maxFeePerGas by the same amount.
In the next sections we will discuss updating a transaction that contained one or both of the EIP 1559 fields.
Submit the initial transaction with an explicitly low tip amount
To start, we will submit a transaction that is destined to fail. The code below is pseudocode, we assume that you have your own working code that you need to update.
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sendTx(web3, {
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  gas: estimatedGas,
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  maxPriorityFeePerGas: 15,
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  to: toAddress,
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  value: 100,
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});
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This transaction is destined to fail because we've set maxPriorityFeePerGas to 15. No self-respecting miner would accept a 15 wei tip. I mean, they might, but it's really really really really unlikely.
Update the priority fee
Since we've set the tip explicitly using maxPriorityFeePerGas it's simple for us to update it. In order to update the tip you have to submit a transaction with the same nonce, just as with legacy transactions.
First let's see what a failed tip update looks like. Recall that you need to increase the tip by at least 10% for the update to be considered.
Here is an attempt to lower the tip, which obviously won't work.
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sendTx(web3, {
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  nonce: sameNonceAsOriginalTransaction,
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  gas: estimatedGas,
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  maxPriorityFeePerGas: 14,
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  to: toAddress,
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  value: 100,
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});
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Which results in
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Error: Returned error: replacement transaction underpriced
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This is obvious because we lowered the tip from an already low amount. Let's see what happens if we try to update it by less than 10%.
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sendTx(web3, {
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  nonce: sameNonceAsOriginalTransaction,
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  gas: estimatedGas,
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  maxPriorityFeePerGas: 16,
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  to: toAddress,
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  value: 100,
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});
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Which has the same error response
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Error: Returned error: replacement transaction underpriced
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And now a successful update:
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sendTx(web3, {
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  nonce: sameNonceAsOriginalTransaction,
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  gas: estimatedGas,
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  maxPriorityFeePerGas: 18,
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  to: toAddress,
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  value: 100,
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});
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Nice! That works.
Retrying a transaction where you did not submit a priority fee
In the previous section we basically did the same thing you would do to update a legacy transaction. But if you used a gas estimator to submit your initial transaction then it is likely that you only submitted the maxFeePerGas field with no explicit maxPriorityFeePerGas. In this instance, updating the transaction is slightly more complicated.
Recall that when you submit a transaction with only the maxFeePerGas field, then a default is filled in for the maxPriorityFeePerGas field. The default depends on what node provider you are using. When you submit an updated transaction with a new maxFeePerGas, your node provider will very likely not fill in an updated priority fee. That means that no matter how much you bump the maxFeePerGas, your updated transaction will continue to fail. To complicate matters further, when you are submitting a transaction update it is likely that the baseFeePerGas also changed.
Luckily, the math here turns out to be very simple. Recall that
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maxFeePerGas = baseFeePerGas + maxPriorityFeePerGas;
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To submit the update, first retrieve an updated maxFeePerGas estimate from Eth Gas Station (or other estimator). Now that we know the new total, we just need to know the new baseFeePerGas and then we can calculate the new tip to submit.
If you're using the alchemy web3 client, then you can fetch the base fee from the pending block like so:
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const pendingBlock = await web3.eth.getBlock("pending");
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pendingBlock.baseFeePerGas;
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Then subtract the base fee from the max fee and we're good to go!
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maxPriorityFeePerGas = maxFeePerGas - baseFeePerGas
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Submit the transaction again with the same nonce and the updated maxFeePerGas and maxPriorityFeePerGas fields, and you will successfully retry the transaction!
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maxPriorityFeePerGas vs maxFeePerGas

How to Build a Gas Fee Estimator using EIP-1559

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Contents

Submit the initial transaction with an explicitly low tip amount

Update the priority fee

Retrying a transaction where you did not submit a priority fee