If you check the fee table, you can see that the fee varies depending on whether it is a maker or a taker.
The maker's fee is less than the taker. Both makers and takers play an important role in the exchange's orderbook.
Simply put:
- Maker provides liquidity to exchanges and creates a token market.
- Taker removes liquidity by signing standby orders on the exchange.
The exchange generally provides incentives to makers by charging low fees for liquidity orders. Let's take a closer look at the two roles.
Taker:
If you submit an order that can be traded before entering the orderbook, it's a taker. This has nothing to do with whether the order has been partially or fully signed.
Market price orders do not go into the orderbook, so market price order transactions are always taker. These transactions are taker transactions because they take the volume from the orderbook.
MAKER:
When you submit an order to the orderbook in part or in full, all subsequent transactions after that order will be maker transactions.
These orders help create a market by adding quantities to the orderbook, so follow-up transactions are called makers.
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