Maker/Taker
A fee model where 'makers' (who add liquidity by placing limit orders) pay lower fees than 'takers' (who remove liquidity by placing market orders or filling existing orders).
Last updated: January 5, 2025
What is the Maker/Taker Model?
The maker/taker fee model charges different rates based on whether your order adds or removes liquidity from the order book:
- Maker: Adds liquidity (usually pays less)
- Taker: Removes liquidity (usually pays more)
Understanding Makers
What Makes You a Maker
You’re a maker when you place an order that doesn’t immediately execute:
- Limit buy below current price
- Limit sell above current price
- Any order that “makes” liquidity
Why Makers Pay Less
Makers benefit exchanges by:
- Adding depth to order books
- Providing liquidity for others
- Reducing spread between bid/ask
- Making the market more efficient
Understanding Takers
What Makes You a Taker
You’re a taker when your order executes immediately:
- Market orders (always taker)
- Limit buy at or above current price
- Limit sell at or below current price
- Any order that “takes” existing liquidity
Why Takers Pay More
Takers:
- Remove liquidity from the market
- Need immediate execution
- Create urgency/demand
- Willing to pay premium for speed
Fee Examples
Major Exchange Fees
| Exchange | Maker Fee | Taker Fee |
|---|---|---|
| Binance | 0.10% | 0.10% |
| Coinbase | 0.40% | 0.60% |
| Kraken | 0.16% | 0.26% |
| OKX | 0.08% | 0.10% |
| MEXC | 0.00% | 0.10% |
| Bybit | 0.10% | 0.10% |
Cost Comparison
On a $10,000 trade on Kraken:
- Maker: $10,000 × 0.16% = $16
- Taker: $10,000 × 0.26% = $26
- Savings: $10 (38% less)
Over 100 trades: $1,000 saved by using limit orders
Becoming a Consistent Maker
Strategy 1: Post-Only Orders
- Ensures order goes to book
- Cancels if it would take
- Guarantees maker fee
Strategy 2: Price Away from Market
- Set limit slightly away from current price
- More likely to be maker
- May need to wait for fill
Strategy 3: Avoid Round Numbers
- Heavy competition at $70,000, $80,000
- Place at $69,950 or $80,050
- Better chance of being maker
When to Be a Taker
Despite higher fees, taker orders make sense when:
- Speed matters more than cost
- Market moving quickly
- Position sizing is urgent
- Fees are minimal (like Binance 0.10%)
Volume Discounts
Most exchanges reduce both maker and taker fees with volume:
Binance VIP Levels
| Level | Volume/Month | Maker | Taker |
|---|---|---|---|
| Regular | Under $1M | 0.10% | 0.10% |
| VIP 1 | $1M+ | 0.09% | 0.10% |
| VIP 2 | $5M+ | 0.08% | 0.10% |
| VIP 3 | $20M+ | 0.07% | 0.09% |
Pro Tips
- Always check your fee - Before placing orders
- Use fee calculators - See exchange fees pages
- Consider token discounts - BNB, KCS, etc.
- Stack discounts - Volume + token + maker
- Track savings - Monitor how much you save
Ready to Start Trading?
Now that you understand maker/taker, explore the best exchanges to begin your crypto journey.