Cryptocurrency trading is not free. To trade as effectively as possible and select the right trades, traders need to know about the common types of trading fees cryptocurrency exchanges charge for orders.
When calculating fees on a cryptocurrency exchange, orders are generally classified into two categories: those charged with “maker fees” and those charged with “taker fees”.
What Is a Maker Fee and How does It Affect You?
A maker order is an order that adds liquidity to an order book until it is picked up by another trader helping to “make the market”.
For instance, if you place a limit order for trade on our exchange, it is usually not immediately filled. It is only triggered once the price of an asset such as Bitcoin rises or falls below a certain limit.
Therefore, a trader who places an order like this “makes liquidity in a market” for other traders. By placing this order, the trader adds liquidity to the order book.
To be considered a maker order, a sell order placed by the would-be maker has to be higher in price than the highest buy order, or the trader would need to place a buy order that is lower in price than the lowest sell order.
Maker fees for orders are often lower than other fees. Exchanges have an interest in attracting traders to their platforms to generate liquidity. Liquidity on an exchange indicates the extent of market interest based on the number of active traders and overall trading volume. Lower maker fees, therefore, incentivizes creating a market.
The disadvantage of being in the role of a maker is that it often takes a long time to fill orders, until the market triggers the set limit price.
What is a Taker Fee and Who Does It Affect?
“Takers”, on the other hand, is the term used for traders who are looking for trading options they can fill immediately, or as quickly as possible. Such an option could be a market order - market orders are based on immediacy. Takers place buy orders or sell orders for filling orders available in an order book and pay taker fees upon execution.
Let’s say you place a buy order for 1 Ethereum-P contract (ETH) and fill a market order for this trade.
A market order will always fill immediately. If an order is so large that there is not enough liquidity in the order book at this time, it will be rejected since a market order can only be filled fully or rejected.
Remember that market orders are available regardless of the current price of an asset. Therefore, a taker fills the order almost instantly without delay and pays a slightly higher taker fee for the convenience and fast execution provided by the exchange and the makers.
Here is our fee structure for taker/maker fee and referral commission structure for different level of memberships:
|
Last 30D Traded Quantity (BTC) |
Membership Tier (Level) |
Fee Structure |
|
|
Maker Fee |
Taker Fee |
||
|
0 |
Lv.0 |
0.0150% |
0.0600% |
|
0.005 |
|||
|
0.050 |
|||
|
0.250 |
|||
|
1 |
|||
|
3 |
|||
|
4 |
|||
|
5 |
|||
|
25 |
Lv. 1 |
0.0120% |
0.0500% |
|
50 |
|||
|
100 |
|||
|
150 |
Lv. 2 |
0.0090% |
0.0450% |
|
250 |
|||
|
450 |
|||
|
500 |
|||
|
650 |
|||
|
750 |
Lv. 3 |
0.0060% |
0.0425% |
|
1,000 |
|||
|
1,250 |
|||
|
1,500 |
|||
|
2,500 |
|||
|
3,000 |
Lv. 4 |
0.0030% |
0.0400% |
|
3,250 |
|||
|
4,000 |
|||
|
5,000 |
|||
|
6,000 |
|||
|
7,500 |
|||
|
9,000 |
Lv. 5 |
0.00150% *
|
0.0200% * |
|
10,000 |
|||
|
15,000 |
|||
|
20,000 |
|||
|
25,000 |
Lv. 6 |
0% *
|
0.0200% * |
|
30,000 |
|||
|
32,500 |
|||
|
35,000 |
|||
|
45,000 |
|||
|
50,000 |
|||
|
65,000 |
|||
|
75,000 |
|||
|
100,000 |
|||
|
125,000 |
|||
|
150,000 |
|||
|
625,000 |
|||
|
1,000,000 |
|||
|
1,250,000 |
|||
* Updated as of 18 June 2024.
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