maker-taker exchange fees
What Are Maker/Taker Trading Fees?
Maker/taker trading fees refer to the fee structure that distinguishes between orders that provide liquidity to the order book (makers) and those that remove liquidity (takers).
A maker is a trader who places an order on the order book, typically through a limit order that does not execute immediately. A taker is a trader whose order is matched instantly with an existing order, often through a market order or an immediately executable limit order. Exchanges set two separate fee tiers: maker fees are usually lower—sometimes even offering rebates—because makers add liquidity. Taker fees are generally higher, as takers consume liquidity from the market.
This fee model applies to multiple trading categories, such as spot and derivatives. Fees are calculated as a percentage of the executed trade value and are separate from deposit, withdrawal, or on-chain gas fees.
Why Should You Understand Maker/Taker Trading Fees?
These fees have a direct impact on your long-term trading costs.
Even a tiny difference in fees—measured in basis points—can become significant with high-frequency or large-volume trading. For example, with a $10,000 USDT trade, a 0.02% difference in fees equates to 2 USDT per side; repeated trades throughout the day can quickly affect your profit curve. Understanding fee structures can also help you decide whether to use limit or market orders, and whether to prioritize immediate execution or wait in the order book.
In derivatives trading, fees are further magnified by leverage. Higher fees reduce the space for profit-taking and stop-losses; securing better maker fees or rebates can offer greater margin for strategy error.
How Do Maker/Taker Trading Fees Work?
Your role—maker or taker—is determined by whether your order adds liquidity to the book.
If your order enters the order book and does not match immediately with an opposing order, you are classified as a maker. If your order matches instantly with an existing order, you are considered a taker. This classification is determined at the moment of trade execution, based solely on whether your order creates new liquidity—not on whether you chose a limit or market order.
Exchanges publish detailed fee schedules, typically in two layers:
- The first layer is the base fee rate. For spot markets, this often hovers around 0.1%, while derivatives may be even lower; maker fees may be discounted or even negative (rebate).
- The second layer involves discounts and tiered VIP levels: these are based on factors such as your 30-day trading volume, account holdings, and whether you use the platform token for fee payment. Higher tiers grant lower fees.
Some exchanges offer options like “Post Only,” which ensures your order will only execute as a maker; if it would immediately match, it is canceled instead. Conversely, market orders almost always qualify as taker trades.
In derivatives markets, “funding rates” are also common—these are periodic payments between long and short positions and are separate from trading fees.
How Do Maker/Taker Trading Fees Appear in Crypto Markets?
Maker/taker fees exist across spot and derivatives markets, both on centralized exchanges (CEX) and in DeFi.
On centralized exchanges, spot limit orders that rest on the book typically incur maker fees, while market orders or instantly filled limit orders incur taker fees. For example, on Gate, you can select “Post Only” to guarantee maker status; using a market order usually results in a taker fee.
In derivatives trading, the same logic applies. Many platforms offer special maker programs for high-liquidity accounts; if you consistently provide depth and volume, you may receive lower maker fees or even rebates, incentivizing better market depth.
In decentralized trading, most AMMs charge a fixed swap fee based on liquidity pools and do not use an order book, so there is no distinction between maker and taker fees. However, some protocols or aggregators that support limit orders may introduce similar incentives—such as rebates—to attract liquidity providers.
How Can You Reduce Maker/Taker Trading Fees?
Optimize your approach step by step—from how you place orders to leveraging available discounts:
- Prioritize limit orders with “Post Only” selected to maximize your chances of qualifying for lower maker fees and avoid unintentionally becoming a taker.
- Complete account verification and security settings on your exchange; fully verified accounts often qualify for additional fee programs or maker incentive schemes.
- Enable platform token fee discounts; for example, on Gate, activating GT token fee deduction applies published discounts directly to each trade.
- Increase your VIP level by boosting your 30-day trading volume or account balance—higher tiers enjoy reduced maker/taker fees. If your volume is limited, concentrate activity on a single platform to build up status.
- Apply for market making or liquidity support programs; if you can provide consistent depth and stable trades, exchanges often grant lower maker fees or even rebates.
- Balance slippage against fee savings; in fast-moving markets, insisting on being a maker may mean missing out on execution. Sometimes taking liquidity is safer—but manage position sizes and break up large orders to minimize both slippage and fee costs.
Recent Trends and Data for Maker/Taker Trading Fees
Fee ranges have remained generally stable over the past year.
As of Q3 2024, most major platforms list spot base fees between 0.1%–0.2%. For derivatives, base rates often range from -0.01% to 0.02% for makers (rebates possible) and 0.03%–0.07% for takers—check individual exchanges for exact figures.
Recently, platforms have focused on temporary fee reductions for promotional events or specific trading pairs (especially top assets like BTC and ETH) to attract users. Most VIP systems now evaluate a combination of 30-day trading volume and account balance; platform token deductions commonly offer 10%–25% discounts.
Compared with early 2024, base rates have barely changed—but “maker incentives” are becoming more sophisticated: exchanges increasingly reward accounts that provide both deep liquidity and consistent quoting with rebates or ultra-low maker rates, intensifying competition for liquidity provision.
What’s the Difference Between Maker/Taker Trading Fees and Slippage?
They represent two distinct types of trading costs.
Trading fees are explicit charges assessed by the exchange based on trade value. Slippage is the difference between your executed price and expected price—typically occurring when taking liquidity or during periods of low liquidity. Spread is the difference between the highest bid and lowest ask and reflects market conditions rather than platform-imposed costs.
For example, if you buy $10,000 USDT worth of an asset at a 0.10% taker fee, your fee is $10 USDT; if slippage is 0.05%, there is an additional $5 USDT in implicit cost—for a total of $15 USDT. If you instead use “Post Only” and pay a 0.08% maker fee with zero slippage, your fee drops to $8 USDT—but you risk your order not filling (opportunity cost).
For a comprehensive assessment: Total Cost = Trading Fee + Slippage + Spread (+ Funding Rate for derivatives if applicable). Choosing your order type should balance execution certainty against total transaction cost.
Key Terms
- Maker: A trader who provides liquidity by placing orders on the order book, earning discounted fees or rebates.
- Taker: A trader who removes liquidity by executing market orders or immediately matching existing orders—typically paying higher fees.
- Liquidity: The ease with which assets can be bought or sold in the market; higher liquidity reduces slippage.
- Order Book: A real-time list of buy and sell orders displayed by the exchange, reflecting current supply and demand.
- Fee Structure: The differentiated fee schedule used by exchanges to incentivize makers to supply liquidity.
FAQ
Why Are Maker and Taker Fees Different?
Makers provide liquidity to the market and therefore enjoy lower fees or even receive rebates; takers remove liquidity by executing trades immediately and pay higher fees. This structure encourages users to supply liquidity and improves market depth. For example, on Gate, maker fees may be 0.1%, while taker fees are 0.15%. Active traders can significantly reduce costs by using maker strategies.
Does VIP Level Affect Maker/Taker Fees?
Yes. Most exchanges offer VIP tiers based on your trading volume or account holdings—the higher your tier, the greater your fee discount. New users may pay standard rates, but after reaching $1 million USDT in monthly volume could get a 20% discount for both makers and takers. On Gate, you can check your current VIP level and corresponding rates via your account page.
I’m a Small Retail Trader—Should I Use Maker or Taker Orders to Save Fees?
If you trade infrequently, using taker (market) orders may be simpler—focus on strategy rather than optimizing every fee difference. If you are an active trader, learn to use limit (maker) orders and participate in exchange rebate programs or VIP upgrades; once your volume accumulates, the fee savings from being a maker become substantial.
Are Maker/Taker Fees the Same for Spot and Derivatives?
Generally not. Spot trading typically features lower maker/taker rates (e.g., 0.1%/0.15%), while derivatives trading carries higher risks and thus usually incurs higher fees (e.g., 0.02%/0.05%). Fee schedules also vary between exchanges—always compare spot versus derivatives rates before choosing products.
References & Further Reading
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