When trading on Binance, whether buying or selling, the fees for Maker (limit orders that rest on the book) and Taker (orders that fill immediately) are actually different. Understanding this distinction can save you a lot of money.
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What Are Maker and Taker?
A Maker is someone who places a limit order that doesn't fill immediately but instead sits on the order book waiting for someone else to match it. You're providing liquidity to the market.
A Taker is someone whose order fills immediately against existing orders on the book. Market orders are always Taker orders. Limit orders that are priced to fill instantly are also treated as Taker orders.
Simply put: placing an order and waiting for someone to buy is Maker; buying someone else's existing order is Taker.
How Big Is the Rate Difference?
For Binance spot regular users:
- Maker rate: 0.1%
- Taker rate: 0.1%
For regular spot users, Maker and Taker rates are the same. But from VIP1 and above, the gap appears:
- VIP1 Maker: 0.09%, Taker: 0.1%
- VIP3 Maker: 0.07%, Taker: 0.09%
The gap is even more significant in futures:
- Regular Maker: 0.02%, Taker: 0.05%
- VIP1 Maker: 0.016%, Taker: 0.04%
The futures Taker rate is 2.5x the Maker rate β a huge difference.
How to Be a Maker
The key is to use limit orders with prices set outside the current market price.
When buying: Set your limit price slightly below the current price. For example, if BTC is at 30,000, place a buy order at 29,950.
When selling: Set your limit price slightly above the current price. For example, if BTC is at 30,000, place a sell order at 30,050.
As long as your order doesn't fill immediately and enters the order book to wait, you're a Maker.
Practical Tips
If you're not in a hurry to fill, try placing limit orders near the best bid or ask. This way you enjoy the Maker rate without waiting too long.
For futures traders, the Maker-Taker rate difference is large enough to affect long-term profitability. High-frequency traders should pay particular attention and try to use Maker orders as much as possible.
In some cases, when the market is highly volatile, your limit order might not get filled before the price moves away. In those situations, you can widen your limit price range slightly, or accept the Taker rate for timely execution.
Choose flexibly based on your trading style β use Maker orders for non-urgent trades to save on fees, and Taker orders when you need immediate execution.
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