What are maker and taker orders? A must-know for saving on fees
The words "Maker" and "Taker" on the order page get scrolled right past by many beginners. In fact, understanding the maker vs taker difference is the easiest and most overlooked way to save on spot fees.
You've probably seen "Maker" and "Taker" on an exchange's fee page or on the receipt after an order fills, each with a different fee number next to it. They're not some deep concept, but once you get them, every order gives you one more way to save. Here it is in plain words.
In one line: the maker vs taker difference
Picture an exchange as a big marketplace with a wall of slips saying "I'll buy / sell at this price" — that's the order book.
- Maker: you put a new slip up on the wall. Say the price is 100 and you post "I'll buy at 99"; it doesn't fill yet, it rests there waiting. You added liquidity to the market, so you're the maker (the market-maker), with a cheaper fee.
- Taker: you pull someone's existing slip off the wall and fill it. Say you see someone posted "sell at 100" and you tap to buy it instantly. You consumed ready liquidity and filled at once, so you're the taker (the one who takes), with a pricier fee.
That picture is all you need: resting and waiting to fill = maker = cheap; instantly taking someone's order = taker = expensive.
Why a maker order has a lower fee
Because an exchange needs plenty of orders in the book so the market is lively, buying and selling are smooth, and the price doesn't spike on every buy and crash on every sell. Makers are precisely the ones helping the exchange "fill the wall", so the exchange rewards that behavior with a lower fee.
Conversely, a taker consumes that ready convenience and enjoys "instant fill", so they pay a bit more. This isn't the exchange picking on anyone — it's a design that keeps the market healthy, and you can simply stand on the side that gets the discount.
How to deliberately be a maker: use a limit order
It comes down to one move: use a limit order and post a price that won't fill immediately.
- Market order: tap "buy / sell instantly at the best current price" and it fills at once. This is always a taker, with a high fee.
- Limit order: you post a price yourself. If that price can't grab a ready order right now, it rests and waits — and at that point you're the maker, with a low fee.
Concretely: the price is 100 and you want to buy — don't tap market; use a limit order, post "99.5", and wait to fill when the price drops to 99.5. To sell, post "100.5" and wait for it to rise. Such resting orders count you as a maker.
One caution: if your limit buy price is higher than the current price (price is 100 and you post a buy at 101), it'll instantly take a ready sell order and you're still a taker. To be a maker, post a buy a bit below the current price and a sell a bit above it.
Worked example: the same trade, how much it differs
Suppose an exchange's spot taker rate is 0.1% and maker rate is 0.08% (numbers vary by exchange, the logic is the same). You trade $10,000:
| Order type | Role | Rate | Fee on this trade |
|---|---|---|---|
| Market order, buy instantly | Taker | 0.1% | $10 |
| Limit order, rest and wait | Maker | 0.08% | $8 |
Two dollars per trade looks trivial. But trade 50 times a month at $10,000 each and this alone differs by 50 × $2 = $100. And that's before stacking the BNB discount and an invite-code discount on top — use several together and the long-term saving is substantial.
When you should be a taker
Being a maker saves money, but it has a cost: your order isn't guaranteed to fill right away. While it rests, the market can run off and your price may never come back, leaving the order unfilled.
So the principle is simple:
- Unhurried trades (like dollar-cost averaging or building a position slowly) → post limit orders as a maker and save on fees.
- Trades that must fill at once (a quick stop-loss, or you're sure you must get in now) → just use a market order as a taker; don't let saving two dollars cost you something big.
Saving on fees is a good habit, but it always ranks below "don't make a big mistake". Get that balance right and a beginner is already most of the way there.
A few common questions
What's the difference between maker and taker?
A maker posts an order and provides liquidity, with a low fee; a taker takes an order and fills instantly, with a high fee. Same trade, different order type, different fee.
How do I make myself a maker?
Use a limit order and post a price that won't fill immediately (a buy below the current price, a sell above it). A market order is always a taker.
Is being a maker always the better deal?
On fees, yes, but the order isn't guaranteed to fill right away. For unhurried trades use a limit order as a maker; for ones that must fill instantly use a market order as a taker.
Want the full picture of how fees are calculated?
See: how are Binance fees calculated? Spot / futures rates + how to cut them, which covers all the savers together.
Now that you get maker / taker, open an account
Reading it ten times is no match for switching to a limit order once on the order page yourself. Pick a major exchange, enter the invite code at sign-up for the discount, then practice being a maker — do both and you can push fees very low. The five we use are in the right sidebar.
This is independent editorial content from Xiaoyumi Academy and contains exchange referral (affiliate) links: if you sign up and trade through our links, we may earn a commission and you get a matching fee discount — this is the site's only income and it doesn't shape our judgment. This site is not the official website of Binance, OKX, Bitget, Bybit or Gate.io. The rate figures here are illustrative; each exchange's actual rates are on its current official page. Crypto prices are highly volatile and you can lose all of your capital; this article is for educational reference only, is not investment advice, and you should decide for yourself in line with the laws of your region. If any figures are updated, you'll see it in the corrections log.