diff --git a/x/wasm/handler.go b/x/wasm/handler.go
index 989317a0..f9cedd2a 100644
--- a/x/wasm/handler.go
+++ b/x/wasm/handler.go
@@ -67,7 +67,7 @@ func handleStoreCode(ctx sdk.Context, k Keeper, msg *MsgStoreCode) sdk.Result {
 }
 
 func handleInstantiate(ctx sdk.Context, k Keeper, msg *MsgInstantiateContract) sdk.Result {
-	contractAddr, err := k.Instantiate(ctx, msg.Sender, msg.Code, msg.InitMsg, msg.InitFunds)
+	contractAddr, err := k.Instantiate(ctx, msg.Code, msg.Sender, msg.InitMsg, msg.InitFunds)
 	if err != nil {
 		return sdk.ResultFromError(err)
 	}
@@ -90,7 +90,7 @@ func handleInstantiate(ctx sdk.Context, k Keeper, msg *MsgInstantiateContract) s
 }
 
 func handleExecute(ctx sdk.Context, k Keeper, msg *MsgExecuteContract) sdk.Result {
-	res, err := k.Execute(ctx, msg.Contract, msg.Sender, msg.SentFunds, msg.Msg)
+	res, err := k.Execute(ctx, msg.Contract, msg.Sender, msg.Msg, msg.SentFunds)
 	if err != nil {
 		return sdk.ResultFromError(err)
 	}
diff --git a/x/wasm/internal/keeper/keeper.go b/x/wasm/internal/keeper/keeper.go
index e8e954bf..e2e498b4 100644
--- a/x/wasm/internal/keeper/keeper.go
+++ b/x/wasm/internal/keeper/keeper.go
@@ -83,7 +83,7 @@ func (k Keeper) Create(ctx sdk.Context, creator sdk.AccAddress, wasmCode []byte,
 }
 
 // Instantiate creates an instance of a WASM contract
-func (k Keeper) Instantiate(ctx sdk.Context, creator sdk.AccAddress, codeID uint64, initMsg []byte, deposit sdk.Coins) (sdk.AccAddress, error) {
+func (k Keeper) Instantiate(ctx sdk.Context, codeID uint64, creator sdk.AccAddress, initMsg []byte, deposit sdk.Coins) (sdk.AccAddress, error) {
 	// create contract address
 	contractAddress := k.generateContractAddress(ctx, codeID)
 	existingAcct := k.accountKeeper.GetAccount(ctx, contractAddress)
@@ -138,7 +138,7 @@ func (k Keeper) Instantiate(ctx sdk.Context, creator sdk.AccAddress, codeID uint
 }
 
 // Execute executes the contract instance
-func (k Keeper) Execute(ctx sdk.Context, contractAddress sdk.AccAddress, caller sdk.AccAddress, coins sdk.Coins, msg []byte) (sdk.Result, error) {
+func (k Keeper) Execute(ctx sdk.Context, contractAddress sdk.AccAddress, caller sdk.AccAddress, msg []byte, coins sdk.Coins) (sdk.Result, error) {
 	codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddress)
 	if err != nil {
 		return sdk.Result{}, err
@@ -309,7 +309,7 @@ func (k Keeper) dispatchMessage(ctx sdk.Context, contract exported.Account, msg
 			return sdk.ErrInvalidAddress(msg.Contract.ContractAddr)
 		}
 		// TODO: use non nil payment once we update go-cosmwasm (ContractMsg contains optional payment)
-		_, err := k.Execute(ctx, targetAddr, contract.GetAddress(), nil, []byte(msg.Contract.Msg))
+		_, err := k.Execute(ctx, targetAddr, contract.GetAddress(), []byte(msg.Contract.Msg), nil)
 		if err != nil {
 			return err
 		}
diff --git a/x/wasm/internal/keeper/keeper_test.go b/x/wasm/internal/keeper/keeper_test.go
index 323d79b2..94270b27 100644
--- a/x/wasm/internal/keeper/keeper_test.go
+++ b/x/wasm/internal/keeper/keeper_test.go
@@ -98,7 +98,7 @@ func TestInstantiate(t *testing.T) {
 	gasBefore := ctx.GasMeter().GasConsumed()
 
 	// create with no balance is also legal
-	addr, err := keeper.Instantiate(ctx, creator, contractID, initMsgBz, nil)
+	addr, err := keeper.Instantiate(ctx, contractID, creator, initMsgBz, nil)
 	require.NoError(t, err)
 	require.Equal(t, "cosmos18vd8fpwxzck93qlwghaj6arh4p7c5n89uzcee5", addr.String())
 
@@ -122,7 +122,7 @@ func TestInstantiateWithNonExistingCodeID(t *testing.T) {
 	require.NoError(t, err)
 
 	const nonExistingCodeID = 9999
-	addr, err := keeper.Instantiate(ctx, creator, nonExistingCodeID, initMsgBz, nil)
+	addr, err := keeper.Instantiate(ctx, nonExistingCodeID, creator, initMsgBz, nil)
 	require.True(t, types.ErrNotFound.Is(err), err)
 	require.Nil(t, addr)
 }
@@ -152,7 +152,7 @@ func TestExecute(t *testing.T) {
 	initMsgBz, err := json.Marshal(initMsg)
 	require.NoError(t, err)
 
-	addr, err := keeper.Instantiate(ctx, creator, contractID, initMsgBz, deposit)
+	addr, err := keeper.Instantiate(ctx, contractID, creator, initMsgBz, deposit)
 	require.NoError(t, err)
 	require.Equal(t, "cosmos18vd8fpwxzck93qlwghaj6arh4p7c5n89uzcee5", addr.String())
 
@@ -173,7 +173,7 @@ func TestExecute(t *testing.T) {
 
 	// unauthorized - trialCtx so we don't change state
 	trialCtx := ctx.WithMultiStore(ctx.MultiStore().CacheWrap().(sdk.MultiStore))
-	res, err := keeper.Execute(trialCtx, addr, creator, nil, []byte(`{}`))
+	res, err := keeper.Execute(trialCtx, addr, creator, []byte(`{}`), nil)
 	require.Error(t, err)
 	require.Contains(t, err.Error(), "Unauthorized")
 
@@ -181,7 +181,7 @@ func TestExecute(t *testing.T) {
 	start := time.Now()
 	gasBefore := ctx.GasMeter().GasConsumed()
 
-	res, err = keeper.Execute(ctx, addr, fred, topUp, []byte(`{}`))
+	res, err = keeper.Execute(ctx, addr, fred, []byte(`{}`), topUp)
 	diff := time.Now().Sub(start)
 	require.NoError(t, err)
 	require.NotNil(t, res)
@@ -216,7 +216,7 @@ func TestExecuteWithNonExistingAddress(t *testing.T) {
 
 	// unauthorized - trialCtx so we don't change state
 	nonExistingAddress := addrFromUint64(9999)
-	_, err = keeper.Execute(ctx, nonExistingAddress, creator, nil, []byte(`{}`))
+	_, err = keeper.Execute(ctx, nonExistingAddress, creator, []byte(`{}`), nil)
 	require.True(t, types.ErrNotFound.Is(err), err)
 }
 
diff --git a/x/wasm/internal/keeper/mask_test.go b/x/wasm/internal/keeper/mask_test.go
index 55fbaf5a..e1be03c9 100644
--- a/x/wasm/internal/keeper/mask_test.go
+++ b/x/wasm/internal/keeper/mask_test.go
@@ -49,7 +49,7 @@ func TestMaskSend(t *testing.T) {
 
 	// creator instantiates a contract and gives it tokens
 	contractStart := sdk.NewCoins(sdk.NewInt64Coin("denom", 40000))
-	contractAddr, err := keeper.Instantiate(ctx, creator, codeID, []byte("{}"), contractStart)
+	contractAddr, err := keeper.Instantiate(ctx, codeID, creator, []byte("{}"), contractStart)
 	require.NoError(t, err)
 	require.NotEmpty(t, contractAddr)
 
@@ -62,7 +62,7 @@ func TestMaskSend(t *testing.T) {
 	transferBz, err := json.Marshal(transfer)
 	require.NoError(t, err)
 	// TODO: switch order of args Instantiate vs Execute (caller/code vs contract/caller), (msg/coins vs coins/msg)
-	_, err = keeper.Execute(ctx, contractAddr, creator, nil, transferBz)
+	_, err = keeper.Execute(ctx, contractAddr, creator, transferBz, nil)
 	require.NoError(t, err)
 
 	// check some account values
@@ -90,7 +90,7 @@ func TestMaskSend(t *testing.T) {
 	reflectSendBz, err := json.Marshal(reflectSend)
 	require.NoError(t, err)
 	// TODO: switch order of args Instantiate vs Execute (caller/code vs contract/caller), (msg/coins vs coins/msg)
-	_, err = keeper.Execute(ctx, contractAddr, bob, nil, reflectSendBz)
+	_, err = keeper.Execute(ctx, contractAddr, bob, reflectSendBz, nil)
 	require.NoError(t, err)
 
 	// fred got coins
@@ -118,7 +118,7 @@ func TestMaskSend(t *testing.T) {
 	require.NoError(t, err)
 
 	// TODO: switch order of args Instantiate vs Execute (caller/code vs contract/caller), (msg/coins vs coins/msg)
-	_, err = keeper.Execute(ctx, contractAddr, bob, nil, reflectOpaqueBz)
+	_, err = keeper.Execute(ctx, contractAddr, bob, reflectOpaqueBz, nil)
 	require.NoError(t, err)
 
 	// fred got more coins
diff --git a/x/wasm/internal/keeper/querier_test.go b/x/wasm/internal/keeper/querier_test.go
index ded438ad..2613ef55 100644
--- a/x/wasm/internal/keeper/querier_test.go
+++ b/x/wasm/internal/keeper/querier_test.go
@@ -44,7 +44,7 @@ func TestQueryContractState(t *testing.T) {
 	initMsgBz, err := json.Marshal(initMsg)
 	require.NoError(t, err)
 
-	addr, err := keeper.Instantiate(ctx, creator, contractID, initMsgBz, deposit)
+	addr, err := keeper.Instantiate(ctx, contractID, creator, initMsgBz, deposit)
 	require.NoError(t, err)
 
 	contractModel := []types.Model{