Maker vs Taker Fees, Explained Simply

On a crypto exchange, each trade pays either a maker or taker?Maker / TakerA maker order waits in the order book. A taker order fills at once. Their fees differ.More in the glossary fee. Which one you pay depends on how your order fills.

What is a maker order?

An exchange keeps an order book?Order bookThe list of buy and sell orders waiting on an exchange, sorted by price.More in the glossary. It is the list of buy and sell orders waiting to fill, sorted by price.

A limit order?Limit orderAn order to buy or sell at a price you choose. It waits until that price is reached.More in the glossary is an order at a price you choose. If no one matches that price yet, the order waits on the order book.

A waiting order gives other traders something to trade against. That makes it a maker order, and it pays the maker fee.

What is a taker order?

A taker order fills at once against an order already waiting on the book. It takes that order away.

A market order?Market orderAn order to buy or sell right away at the best price available now.More in the glossary fills right away at the best price available. So it pays the taker fee.

A limit order can be a taker order too. If its price matches a waiting order, it fills at once and pays the taker fee.

What if only part of my order fills at once?

Sometimes only part of your order can fill right away. That part pays the taker fee.

The rest waits on the order book. When it fills later, that part pays the maker fee.

How do I see which fee I paid?

Your exchange shows the fee for each fill in your trade history. That is the fee you actually paid.

Maker fees are often lower than taker fees. The gap depends on the exchange and on your fee level.

At OKX, your fee level depends on your assets or your trading volume over 30 days. Check your exchange's fee page for your own level.

How do fees relate to a rebate?

A rebate?RebatePart of your trading fees that comes back to you.More in the glossary returns part of the fees you pay. Many crypto exchanges call it a kickback?KickbackAnother word for a fee rebate, often used by crypto exchanges.More in the glossary.

Paying more fees to get a bigger rebate still costs you more.

We do not tell you which order type to use. That choice is part of your own trading plan.

To learn where a rebate comes from, read What is a trading rebate?.