Maker vs Taker Fees: What's the Difference?
Understanding the maker-taker fee model can save you thousands of dollars in trading costs. Here's everything you need to know.
What is the Maker-Taker Model?
The maker-taker fee model is the standard pricing structure used by cryptocurrency exchanges worldwide. It creates a two-tier fee system that rewards traders who add liquidity to the market (makers) and charges slightly more to those who remove it (takers).
This model exists because exchanges need liquidity to function effectively. An order book with many buy and sell orders at various price levels creates a healthy market where traders can execute orders quickly with minimal price impact.
What is a Maker Fee?
A maker fee is charged when you place an order that doesn't fill immediately. Instead, your order gets added to the exchange's order book, where it waits for another trader to match with it. You're "making" the market by providing liquidity.
When You're a Maker:
- - You place a limit buy order below the current market price
- - You place a limit sell order above the current market price
- - Your order sits in the order book waiting to be filled
- - You provide liquidity for other traders
Example: Bitcoin is trading at $50,000. You place a limit buy order at $49,500. Your order goes into the order book and waits. When another trader sells at $49,500, your order fills and you pay the maker fee.
What is a Taker Fee?
A taker fee is charged when your order fills immediately against existing orders in the order book. You're "taking" liquidity from the market rather than adding to it.
When You're a Taker:
- - You place a market order (buy or sell)
- - You place a limit buy order at or above the current ask price
- - You place a limit sell order at or below the current bid price
- - Your order fills instantly
Example: Bitcoin's best ask price is $50,000. You place a market buy order. Your order instantly fills at $50,000, and you pay the taker fee.
Fee Comparison Across Exchanges
The difference between maker and taker fees varies significantly across exchanges:
| Exchange | Maker Fee | Taker Fee | Savings |
|---|---|---|---|
| Binance (Spot) | 0.10% | 0.10% | 0% |
| Bybit (Futures) | 0.01% | 0.06% | 83% |
| MEXC (Spot) | 0.00% | 0.00% | Free! |
| OKX (Spot) | 0.08% | 0.10% | 20% |
Which Should You Use?
Use Maker Orders When:
- - You're not in a hurry to execute
- - You want to minimize fees
- - You have a specific target price
- - You're a high-volume trader
- - Market is stable/ranging
Use Taker Orders When:
- - You need immediate execution
- - Market is moving fast
- - You're scalping or day trading
- - Position timing is critical
- - Stop-loss situations
Real-World Savings Example
Let's calculate how much you could save by using maker orders consistently:
Scenario: Trading $100,000 monthly volume on Bybit Futures
For higher-volume traders, these savings multiply significantly. A trader with $1M monthly volume could save $6,000 per year just by consistently using limit orders.
Tips for Becoming a Maker
- 1.Set limit orders slightly away from market: Place buy orders 0.1-0.5% below current price
- 2.Use post-only orders: Many exchanges offer a "post-only" option that ensures your order becomes a maker
- 3.Be patient: Limit orders may take time to fill, but the savings are worth it
- 4.Scale in gradually: Instead of one large market order, place multiple limit orders at different levels
Calculate Your Fee Savings
Use our calculator to see exactly how much you'd pay in maker vs taker fees on any exchange.
Open Calculator