๐๐I see many newcomers discussing, 'Clearly, USDC trading pairs have 0 fees for limit orders, so why am I still charged fees after placing an order?'. If you encounter this situation, you may not yet understand what a 'taker' is and what qualifies as a 'maker'!๐๐
๐๐Takers (Taker) and Makers (Maker)๐๐
๐๐Difference between takers and makers๐๐
1๏ธโฃ Makers (Maker)
- Indicates that your 'limit order' has not been executed immediately, but is hanging on the order book waiting for a counterparty to match.
- Purpose: To provide liquidity to the market (for example, by placing a buy order below the current market price or a sell order above the market price).
- Fees: Typically low or free (such as Binance's USDC contracts for Makers are fee-free).
2๏ธโฃ Takers (Taker)
- Indicates your order 'executed immediately', consuming the existing liquidity on the order book.
๐ Taker scenarios:
๐นPlace a 'market order' (which is definitely a taker).
๐ธPlace a 'limit order' but the price is aggressive (for example: if the current sell price is $100, placing a buy order at $100 will immediately consume the sell order).
โซ๏ธFees: USDC payments are typically higher (such as a 0.02% taker rate for USDC contracts), but using BNB for payment enjoys discounts.
๐ฉท๐ฉทWhy is there no fee for USDC limit orders, yet it always shows as a taker?
Even if you use a 'limit order'โ๏ธ The following situations will still be judged as takers (takers) ๐ฉท๐ฉท
1๏ธโฃ Price is too aggressive
- Example: If the current BTC price is $60,000 and you place a buy order at $60,000, it will immediately consume the sell order at the best price, becoming a taker.
- Solution: The order price must maintain a certain distance from the market price (e.g., buy order at $59,900, sell order at $60,100).
2๏ธโฃ The 'Reduce Only' option was enabled
- If 'Reduce Only' is checked, the system will prioritize immediate execution, which may trigger a taker.
3๏ธโฃ Did not use 'Post Only' (only for limit orders) mode
- Key reason: If you have not enabled 'Post Only', even if you place a limit order, as long as the price matches existing orders, it will immediately execute as a taker.
๐ธ Solutions:
โ When placing an order, be sure to check 'Post Only' (located below the limit order type).
โ This mode ensures the order is only placed as a Maker; if it could be executed immediately, it will be automatically canceled.
๐งก๐งกAdvice to avoid incurring taker fees๐งก๐งก
Action:
๐นLimit order + Post Only: Ensure the order is only placed and not executed immediately, enjoying 0 fees
๐นLimit order (without Post Only): If the price is set too aggressively, it will still become a taker
๐นMarket order: Requires a 0.02% fee
๐ค๐คExample demonstration (using Binance USDC contracts as an example)๐ค๐ค
1๏ธโฃ Goal: Place a Maker fee-free BTC buy order
2๏ธโฃ Correct Steps:
- Choose 'Limit Order'.
- Set the price below the current market price (e.g., place a buy order at $59,950 when the market price is $60,000).
- Check 'Post Only' โ The order will be placed on the order book, and the fee will be 0 after execution.
3๏ธโฃ Incorrect Actions:
- If the limit order price is set at $60,000 (equal to the sell price) and 'Post Only' is not checked, it will execute immediately as a taker, incurring a 0.02% fee.
๐Summary:
- The prerequisite for fee-free limit orders: the order must genuinely provide liquidity (hanging on the order book waiting to be executed).
- Reasons for frequently incurring taker fees:
โ The price is set too close to the market price, or 'Post Only' mode is not enabled.
- Solutions:
Limit order + real-time quotes far from market price + forced activation of 'Post Only'.
๐ฑTip:
โซ๏ธOnly select USDC trading pairs for limit orders, enjoying 0 fee transactions (e.g., BTC/USDC, ETH/USDC).
โซ๏ธUse BNB to pay taker fees and enjoy discounts!
โ๏ธIf there are still issues, check the 'Type' column in your order history to confirm the order type. After adjusting your strategy, you can enjoy the fee-free advantages of USDC contracts ๐๐
Additionally: ใ๏ธWishing everyone abundant wealth!
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