Complete Guide to Maker and Taker Orders: Key to Reducing Trading Costs

Have you ever wondered why sometimes the trading fee is 0.08% and sometimes 0.10%? Are you curious about how to reduce trading costs through maker orders? Are you confused about the difference between Maker and Taker?

In March 2023, Zhang Ming from Shenzhen traded $1,000,000 worth of BTC. He placed a limit order as a Maker with a fee rate of 0.08%, paying $800. If he had used a market order as a Taker, the fee rate would be 0.10%, costing $1,000. Maker orders saved him $200.

In August 2023, Ms. Li from Shanghai was a high-frequency trader with a monthly trading volume of $50,000,000. By placing maker orders, her fee rate dropped to 0.02%, with monthly fees of $10,000. If she had used all taker orders at 0.05%, monthly fees would be $25,000. Maker orders saved her $15,000 per month.

In November 2023, Mr. Wang from Beijing urgently needed to buy BTC and used a market order for immediate execution (Taker) with a fee rate of 0.10%. Although the fee was high, he caught the best entry timing, and BTC subsequently rose 15%, with profits far exceeding the fee cost.

Maker Order Non-Execution Risk: Limit orders may not execute for a long time, missing the best opportunity
Price Slippage Risk: Market orders may result in unfavorable execution prices due to slippage
Liquidity Risk: Maker orders for small-cap coins may have no takers for extended periods
Opportunity Cost Risk: Placing maker orders to save fees may miss market movements
Partial Fill Risk: Large maker orders may only be partially filled
Order Book Depth Risk: When order book depth is insufficient, taker orders have large slippage

What are Maker and Taker Orders?

Maker orders, also known as Makers, refer to operations that provide liquidity to the market in order book trading.

Taker orders, also known as Takers, refer to operations that remove liquidity from the market in order book trading.

Since maker and taker orders have opposite effects on market liquidity, most trading platforms set different fee rate standards for maker and taker orders. Generally, maker order fee rates are lower than taker order fee rates.

Definition of Maker Orders

Maker Order: Place a limit order in the order book and wait for execution.

In March 2023, Mr. Chen from Hangzhou wanted to buy BTC:

Current market price: $30,000
He placed a limit order: $29,500
Order enters the order book
Waits for price to drop to $29,500 for execution
He is a Maker (liquidity provider)

Definition of Taker Orders

Taker Order: Use a market order for immediate execution, consuming liquidity in the order book.

In June 2023, Ms. Liu from Guangzhou wanted to buy BTC:

Current market price: $30,000
She used a market order to buy immediately
Consumed the $30,000 sell orders in the order book
Immediate execution
She is a Taker (liquidity consumer)

How the Order Book Works

Order Book: Displays all pending buy and sell prices and quantities.

In September 2023, Mr. Zhao from Chengdu checked the BTC order book:

Buy Orders (Bid):
- $29,900 - 2 BTC
- $29,800 - 5 BTC
- $29,700 - 10 BTC
Sell Orders (Ask):
- $30,000 - 3 BTC
- $30,100 - 4 BTC
- $30,200 - 8 BTC

All of these are maker orders (Makers).

Maker vs Taker Comparison

Fee Comparison

Maker Orders: Lower fee rates.

In October 2023, Ms. Wu from Xi'an:

Trading amount: $100,000
Maker fee rate: 0.08%
Fee: $80

Taker Orders: Higher fee rates.

If she used Taker:

Trading amount: $100,000
Taker fee rate: 0.10%
Fee: $100

Difference: $20

Execution Speed Comparison

Maker Orders: Slow execution, may not execute.

In November 2023, Mr. Zheng from Changsha:

Placed limit order: $29,500
Current price: $30,000
Wait time: May be minutes to hours
If price doesn't drop to $29,500, never executes

Taker Orders: Immediate execution.

In December 2023, Mr. Huang from Chongqing:

Used market order to buy
Immediate execution
Execution time: Milliseconds

Price Certainty Comparison

Maker Orders: Price certain, but execution uncertain.

In January 2024, Ms. Lin from Tianjin:

Placed limit order: $30,000
If executed, definitely at $30,000
But may not execute

Taker Orders: Execution certain, but price uncertain (slippage).

In February 2024, Mr. Peng from Hefei:

Used market order to buy
Definitely executes
But may execute at $30,050 due to slippage

Use Case Comparison

Maker Orders Suitable For:

Not urgent to execute
Seeking low fees
Large trades (avoid slippage)
High-frequency trading

Taker Orders Suitable For:

Urgent execution needed
Seeking execution certainty
Small trades
Catching sudden market movements

Fee Rate Details

OKX Fee Rate Table

Regular Users:

In March 2024, Ms. Zeng from Suzhou:

Maker fee rate: 0.08%
Taker fee rate: 0.10%
Trading $10,000: Maker $8, Taker $10

VIP1 (30-day volume >$500,000):

In April 2024, Mr. Deng from Wuxi:

Maker fee rate: 0.06%
Taker fee rate: 0.08%
Trading $10,000: Maker $6, Taker $8

VIP5 (30-day volume >$50,000,000):

In May 2024, Mr. Gong from Changzhou:

Maker fee rate: 0.02%
Taker fee rate: 0.05%
Trading $10,000: Maker $2, Taker $5

Fee Calculation

Maker Fee = Trading Amount × Maker Fee Rate

In June 2024, Ms. Yao from Yangzhou:

Bought BTC: $50,000
Maker fee rate: 0.08%
Fee: $50,000 × 0.08% = $40

Taker Fee = Trading Amount × Taker Fee Rate

In July 2024, Mr. Yuan from Nantong:

Sold ETH: $30,000
Taker fee rate: 0.10%
Fee: $30,000 × 0.10% = $30

Fee Rebates

Some platforms offer fee rebates for Makers.

In August 2024, Mr. Qin from Zhenjiang:

Maker fee rate: 0.02%
Rebate: 0.01%
Actual rate: 0.01%
Trading $1,000,000: Fee $100

Maker Order Strategies

Strategy 1: Limit Order Placement

Place limit orders at ideal prices and wait for execution.

In September 2024, Ms. Shi from Taizhou wanted to buy BTC:

Current price: $60,000
She believes $58,000 is a good price
Placed limit order: $58,000
Waits for price pullback
After execution, becomes Maker with 0.08% fee

Strategy 2: Post-Only Orders

Ensure the order is definitely a Maker, otherwise cancel.

In October 2024, Mr. Tang from Yancheng:

Placed Post-Only limit order: $59,000
If it would execute immediately (become Taker), order automatically cancels
Ensures definitely Maker status, enjoying low fees

Strategy 3: Iceberg Orders

Split large orders into batches to avoid revealing full intent.

In November 2024, Ms. He from Lianyungang wanted to buy 100 BTC:

Total order: 100 BTC
Only displays: 10 BTC at a time
After 10 BTC executes, automatically displays next 10 BTC
Avoids impacting market price

Strategy 4: Time-Weighted Average Price (TWAP)

Place orders evenly over a period to achieve average price.

In December 2024, Mr. Wei from Huai'an:

Wants to buy 50 BTC
Split into 10 orders, 5 BTC each
One order per hour
Complete in 10 hours, achieving average price

Taker Order Strategies

Strategy 1: Market Order Quick Execution

Use market orders when urgent execution is needed.

In January 2025, Mr. Wei from Suqian:

BTC broke through $70,000
He judges it will continue rising
Used market order to buy immediately
Although fee is high (0.10%), he caught the movement

Strategy 2: Limit Order Taking

Use limit orders to take pending orders in the order book.

In February 2025, Ms. Jiang from Xuzhou:

Order book sell order: $60,000 - 5 BTC
She placed limit order: Buy 5 BTC at $60,000
Immediate execution (took the sell order)
Became Taker, fee 0.10%

Strategy 3: Small Amount Taking

For small trades, take directly to save time.

In March 2025, Mr. Xie from Nanjing:

Wants to buy 0.1 BTC ($6,000)
Fee difference: Maker $4.8, Taker $6
Difference only $1.2
He takes directly, saving time

Strategy 4: Sudden Market Movement Taking

Take immediately during sudden market movements to seize opportunities.

In April 2025, Mr. Gong from Changzhou:

Sudden positive news
BTC surged 5%
He immediately used market order to buy
Although fee is high, profit far exceeds fee

Real-World Cases of Maker and Taker Orders

Case 1: High-Frequency Trader

In May 2025, Ms. Yao from Yangzhou is a high-frequency trader:

Monthly volume: $100,000,000
All Maker: Fee $20,000 (0.02%)
If Taker: Fee $50,000 (0.05%)
Savings: $30,000/month

Case 2: Long-Term Investor

In June 2025, Mr. Yuan from Nantong is a long-term investor:

Buys BTC once per month
Trading amount: $10,000
Using Maker: Fee $8
Using Taker: Fee $10
Savings: $2/month (not significant)

He chooses Taker to save time.

Case 3: Arbitrage Trader

In July 2025, Mr. Qin from Zhenjiang does arbitrage:

Platform A: BTC $60,000
Platform B: BTC $60,200
He uses Taker to buy on A (immediate execution)
Uses Maker to sell on B (low fee)
Arbitrage: $200 - Fee $80 = $120

Case 4: Large Trader

In August 2025, Ms. Shi from Taizhou wants to buy 100 BTC:

Using Taker market order: Slippage $5,000
Using Maker limit order: No slippage, fee lower by $2,000
Total savings: $7,000

She chooses Maker, placing orders in batches.

Common Mistakes with Maker and Taker Orders

Mistake 1: Missing Market Movements to Save Fees

In September 2025, Mr. Tang from Yancheng:

BTC $60,000, he placed limit order at $59,000
BTC rose to $70,000, his order didn't execute
To save $20 in fees, missed $10,000 in profit

Correct Approach: When market direction is clear, use Taker for immediate execution.

Mistake 2: Using Taker for Large Orders

In October 2025, Ms. He from Lianyungang:

Used market order to buy 100 BTC
Slippage: $5,000
If using Maker in batches, could avoid slippage

Correct Approach: Use Maker for large orders to avoid slippage.

Mistake 3: Using Maker for Small Orders

In November 2025, Mr. Wei from Huai'an:

Bought 0.01 BTC ($600)
Placed limit order, waited 2 hours for execution
Fee savings: $0.12

Correct Approach: Use Taker directly for small orders to save time.

Mistake 4: Not Understanding Post-Only

In December 2025, Mr. Wei from Suqian:

Wanted to use Maker, placed limit order
But price set incorrectly, immediately executed as Taker
Paid high fee

Correct Approach: Use Post-Only orders to ensure definitely Maker status.

How to Choose Maker or Taker

Decision Tree

Question 1: Is urgent execution needed?

Yes → Taker
No → Continue judging

Question 2: How large is the trading amount?

>$100,000 → Maker (avoid slippage)
<$10,000 → Taker (save time)
$10,000-$100,000 → Continue judging

Question 3: What is the trading frequency?

High frequency (>10 times/day) → Maker (save fees)
Low frequency (<1 time/day) → Taker (save time)

Question 4: Is the market direction clear?

Clear → Taker (seize opportunity)
Unclear → Maker (wait for good price)

Frequently Asked Questions

1. What's the difference between Maker and Taker?

Makers place limit orders to provide liquidity, with low fees but may not execute. Takers use market orders to consume liquidity, with high fees but immediate execution.

2. How to ensure an order is definitely a Maker?

Use Post-Only order type. If the order would execute immediately (become Taker), the system automatically cancels the order.

3. Do maker orders always save money compared to taker orders?

Not necessarily. If maker orders miss market movements, losses may far exceed fee savings. Need to balance fees and opportunity costs.

4. Should large orders use Maker or Taker?

Recommend using Maker in batches to avoid slippage. Large market orders may cause severe slippage, with losses exceeding fee differences.

5. How to upgrade to VIP level to reduce fees?

Increase trading volume. VIP levels are calculated based on 30-day trading volume. The larger the volume, the lower the fees.

6. Are limit orders always Makers?

Not necessarily. If a limit order price is set for immediate execution, it becomes a Taker. Use Post-Only to ensure definitely Maker status.

Key Takeaways

Maker orders provide liquidity, with low fees but may not execute
Taker orders consume liquidity, with high fees but immediate execution
Use Maker for large trades to avoid slippage, use Taker for small trades to save time
High-frequency traders should use Maker, can save substantial fees monthly
Use Taker when market direction is clear, don't miss opportunities to save fees