Maker vs. Taker Fees: What They Are and Why They're Different
Most exchanges charge two different fee rates depending on how your order fills. Here's the difference between maker and taker fees, and why makers pay less.
Most crypto exchanges, Bitval included, list two separate fee rates rather than one flat number. Here's what maker and taker fees mean, and why the distinction exists.
What Makes You a "Maker"
A maker order adds liquidity to the order book rather than filling immediately. This typically happens with a limit order placed at a price away from the current market price, one that sits open until the market reaches it. Because that order provides other traders something to trade against, exchanges usually reward it with a lower fee.
What Makes You a "Taker"
A taker order removes liquidity by filling immediately against an existing order on the book. Market orders are almost always takers, since they execute right away at the best available price rather than waiting. Because taker orders consume liquidity instead of adding it, they typically carry a higher fee than maker orders.
Why the Split Exists
Exchanges depend on having enough standing orders on the book for trades to fill smoothly. Charging makers less encourages traders to place resting orders instead of only taking immediately, which keeps the order book deeper and trading generally smoother for everyone using the platform.
How This Looks in Practice
On Bitval, spot trading fees are 0.12% maker / 0.145% taker, and futures fees are 0.03% maker / 0.06% taker. The gap is intentional: a limit order that rests on the book and gets filled later earns the lower maker rate, while an order that fills instantly against the book pays the taker rate.
Why It's Worth Knowing
For anyone trading frequently, the maker/taker difference adds up over many trades, even when it looks small on a single order. Understanding which fee applies to a given order type helps you read a fee schedule accurately instead of assuming a single number applies to everything. If you want to see this in practice, you can check Bitval's fee schedule here.
This article is for informational purposes only and does not constitute financial or investment advice.
