What are the differences between the MAKER and TAKER fees of OKX perpetual contract transactions?

OKX's fee structure, which differentiates between MAKER and TAKER orders, influences trading strategies by incentivizing liquidity providers with lower fees and charging more for takers who remove liquidity.

Jan 26, 2025 at 07:24 am

Key Points

• Definition of MAKER and TAKER orders
• Advantages and disadvantages of placing MAKER and TAKER orders
• How OKX calculates MAKER and TAKER fees
• Impact of fee structure on trading strategy
• Comparison of OKX's fee structure with other exchanges

Detailed Explanation

1. Defining MAKER and TAKER Orders

• MAKER order: An order that adds liquidity to the order book by offering to buy or sell at a price that isn't currently being matched.
• TAKER order: An order that immediately executes against an existing order on the order book, thereby removing liquidity.

2. Advantages and Disadvantages of Placing MAKER and TAKER Orders

MAKER orders:

• Advantages:

  • Lower trading fees (typically)
  • Contribute to market liquidity
  • Can be used to manipulate market prices

• Disadvantages:

  • May not execute immediately if there isn't enough demand at the specified price
  • Can result in slippage if the market moves quickly

TAKER orders:

• Advantages:

  • Guaranteed execution at the quoted price
  • Less likely to impact market prices
  • Can be used to take advantage of market volatility

• Disadvantages:

  • Higher trading fees
  • May reduce market liquidity

3. How OKX Calculates MAKER and TAKER Fees

OKX uses a tiered fee structure based on a combination of the following factors:

• Trading volume
• Trading pair
• Account type (individual or corporate)

For perpetual contract transactions, OKX currently charges the following MAKER and TAKER fees (subject to change):

4. Impact of Fee Structure on Trading Strategy

The fee structure can influence trading strategies in various ways:

• Scalpers: High-frequency traders who make numerous small trades may prefer MAKER orders to minimize fees.
• Market makers: Traders who provide liquidity to the market may earn significant returns by placing strategic MAKER orders.
• Day traders: Traders who open and close positions within the same trading day may prefer TAKER orders to prevent slippage.
• Long-term investors: Traders who hold positions for extended periods may not be as affected by trading fees.

5. Comparison of OKX's Fee Structure with Other Exchanges

Compared to other major cryptocurrency exchanges, OKX's fee structure for perpetual contract transactions is generally competitive.

Binance: 0.02% MAKER fee for VIP3+ users; 0.04% TAKER fee for VIP3+ users
Huobi: 0.02% MAKER fee for HT VIP members; 0.06% TAKER fee for HT VIP members
Bybit: 0.01% MAKER fee for Bybit Tokens (BT) VIP+ users; 0.05% TAKER fee for Bybit Tokens (BT) VIP+ users

FAQs

Q: How can I reduce trading fees on OKX?

• Increase trading volume
• Become an OKX VIP member
• Use OKX's affiliate program

Q: Which type of order is better, MAKER or TAKER?

• It depends on your trading strategy and risk tolerance. MAKER orders are better for adding liquidity and potentially reducing fees, while TAKER orders are better for guaranteed execution.

Q: How do I check my OKX account trading fees?

• Log in to your OKX account
• Click on "Profile"
• Click on "Exchange Fee"