Drizzle a couple of tablespoons of oil into your Instant Pot.
Add the diced onion and saute for a few minutes until the onions begin to soften.
Add the dried black-eyed peas, water, ham or bacon, and salt.
Put the Instant Pot lid on and turn the knob on top to close.
Select Pressure Cook (or Manual) and set the time for 16 minutes.
Allow the pressure to release naturally for 8 – 10 minutes then enjoy!