Key Takeaways
- A maker order adds liquidity by resting on the order book, while a taker order removes liquidity by matching an existing order immediately.
- Maker or taker status depends on how an order executes. A limit order can be either, while a market order is normally a taker order.
- Trading fees are generally calculated as executed notional × applicable fee rate, and partially filled orders are charged only on the quantity executed.
- The lowest fee is not always the lowest total cost: spread, slippage, funding, borrowing costs and the risk of missing a trade also matter.
Maker and taker fees describe what an order does to the market, not whether the trader buys or sells. Understanding the difference helps you estimate costs and avoid assuming that every limit order receives the maker rate.
If you want to apply the examples to a live order book, you can register with KTX, select a trading pair and review the available bid and ask prices before placing an order.
What Are Maker and Taker Fees in Crypto?
Crypto exchanges use order books to connect buyers and sellers. The bid side contains buy orders, while the ask side contains sell orders. Orders waiting on either side provide liquidity because they give other traders prices they can trade against.
A maker order is an order that does not execute immediately and instead rests on the order book. It “makes” liquidity available. A taker order matches liquidity already displayed on the book and executes immediately, fully or partially. It “takes” that liquidity.
Exchanges often charge makers less because resting orders can improve market depth. Takers typically pay more for immediate access to liquidity. The difference can become meaningful for frequent traders or large notional volumes.
How the Order Book Determines Maker or Taker Status
The execution outcome determines the fee category. A buy order below the best ask or a sell order above the best bid may rest as a maker order. If an order crosses the spread and matches an existing price, the executed portion is taker activity.
This means a limit order is not automatically a maker order. Suppose the best ask is 100 USDT. A buy limit at 99 USDT cannot execute against that ask, so it may rest on the book as a maker order. A buy limit at 100 USDT can match the existing ask immediately and is therefore a taker for the filled portion, even though the trader used a limit order.
One order can receive both classifications. An immediate partial fill is taker activity; remaining quantity that rests and fills later may be maker activity. The trade record provides the final classification.
Maker vs. Taker Fees: Key Differences
| Feature | Maker | Taker |
|---|---|---|
| Order-book effect | Adds displayed liquidity | Removes displayed liquidity |
| Execution timing | Rests before execution | Executes immediately against an existing order |
| Typical order behavior | Non-marketable limit order | Market order or marketable limit order |
| Price certainty | A limit controls the worst acceptable price, but execution is uncertain | Execution is prioritized, though the final average price can vary |
| Typical fee level | Often lower | Often higher |
| Main trade-off | May remain unfilled while the market moves | May incur a higher fee and more slippage |
Neither role is inherently better. Maker orders may reduce fees but remain unfilled; taker orders may cost more but provide immediacy. The choice depends on liquidity, urgency, size and price limits.
How Are Crypto Trading Fees Calculated?
A common calculation is:
Trading fee = executed notional × applicable fee rate
For a spot trade, executed notional is generally the execution price multiplied by the filled quantity. If a trader buys 0.25 BTC at an average execution price of 40,000 USDT, the executed notional is 10,000 USDT. At a 0.10% maker rate, the fee is 10 USDT. At a 0.20% taker rate, the fee is 20 USDT.
The example uses the standard spot rates in the current KTX Digital Asset Exchange Fee Structure. Rates can vary by product, VIP level or promotion. Always review the live order confirmation and current schedule.
Maker and Taker Fee Examples for Spot Trading
| Scenario | Executed notional | Example rate | Trading fee |
|---|---|---|---|
| Maker spot fill | 10,000 USDT | 0.10% | 10 USDT |
| Taker spot fill | 10,000 USDT | 0.20% | 20 USDT |
| Partial maker fill | 4,000 USDT | 0.10% | 4 USDT |
| Partial taker fill | 6,000 USDT | 0.20% | 12 USDT |
Fees use executed quantity rather than the original order size. If a 10,000 USDT limit order immediately executes 6,000 USDT and leaves 4,000 USDT resting, the fills may be charged separately by maker or taker status.
To inspect this in practice, open the BTC/USDT spot market on KTX and compare your order price with the best bid and ask. The final cost can differ if the order fills across several prices.
How Maker and Taker Fees Work in Perpetual Futures
Perpetual futures also apply maker and taker fees, but the calculation uses the contract position’s executed notional rather than the margin posted. Under the current standard KTX schedule, the example rates are 0.04% for makers and 0.06% for takers.
For a 10,000 USDT futures execution, a 0.04% maker fee equals 4 USDT and a 0.06% taker fee equals 6 USDT. Opening and closing are separate executions, so equal 10,000 USDT maker fills would total 8 USDT and equal taker fills 12 USDT, before funding or other costs.
Leverage does not change the published rate, but it can make notional much larger than margin. A position using 1,000 USDT of margin to control 10,000 USDT of exposure is charged on the 10,000 USDT execution. Larger exposure also increases liquidation risk.
Are Maker Orders Always Cheaper Than Taker Orders?
The maker rate is often lower, but that does not guarantee a better result. An order may remain unfilled while the market moves away or fill shortly before the price reverses. The fee saving may be smaller than the cost of the missed or unfavorable trade.
Taker execution may be reasonable when speed matters and expected slippage is acceptable, such as when closing risk during a sharp move.
Compare total execution cost, including the bid–ask spread, slippage and price impact. Perpetual futures may also involve funding payments, margin trading may involve borrowing interest, and on-chain transactions may involve platform and network fees. These charges are separate from the maker/taker fee.
How to Reduce Crypto Trading Fees
- Check the current fee tier: Rates can vary by product, trading level and promotion.
- Use non-marketable limit orders when appropriate: An order that rests can qualify as maker, but it may not fill.
- Avoid unnecessary order turnover: Frequent entries and exits cause fees to accumulate.
- Review liquidity and size: Large orders can create greater price impact.
- Evaluate the full cost: A lower fee can be offset by a wider spread, adverse price movement or funding.
- Confirm actual fills: Review maker/taker classification, average price, filled quantity and deductions after execution.
Choose the outcome you need—price control, immediate execution or risk reduction—then estimate the likely total cost.
FAQ About Maker and Taker Fees
Is a market order a maker or a taker?
A market order is normally a taker because it seeks immediate execution against liquidity already available in the order book.
Is every limit order a maker order?
No. A limit order that crosses an available price can execute immediately and be charged as a taker. Only the portion that rests and later supplies liquidity can qualify as maker.
Are maker and taker fees charged when an order is placed?
Trading fees are generally charged when an order executes. An unfilled order has no executed notional, while a partially filled order is charged on the filled portion.
Does leverage increase maker or taker fees?
Leverage does not necessarily change the fee percentage, but it can increase the position notional relative to margin. Because futures fees are based on executed notional, a larger leveraged position can create a larger fee amount.
Can one order pay both maker and taker fees?
Yes. One portion may match immediately as taker, while the remaining quantity rests on the book and later fills as maker. Each fill is classified according to how it executed.
Risk Disclaimer
This article is for educational purposes only and does not constitute financial, investment, legal or tax advice. Fee schedules, account tiers and product rules may change. Crypto trading involves price volatility, slippage, liquidity risk and potential loss of capital; leveraged trading also carries liquidation risk. Review the current KTX fee schedule and order details, conduct independent research and trade only with funds you can afford to lose.