Maker / Taker
A maker adds liquidity by placing an order that rests on the book waiting to be matched; a taker removes liquidity by sending an order that executes immediately against resting orders. Exchanges price the two differently — makers are typically charged less — because resting orders are what make a market tradeable at all.
Is a market order maker or taker?
A market order is always a taker — it exists to execute immediately against whatever rests on the book. A limit order can be either: if it is priced passively (a buy below the current ask), it rests and becomes a maker fill when matched; if it is priced aggressively (a buy at or above the ask), it crosses the spread and takes immediately, taker fee included. The same order type can therefore produce either fee, depending purely on where its price sits relative to the book at the moment of arrival. Some venues offer "post-only" flags that cancel an order rather than let it accidentally take.
How do Binance maker and taker fees work?
Binance, like most centralized exchanges, publishes a fee schedule where each filled order is charged as maker or taker according to how it executed, with the maker rate at or below the taker rate; exact rates vary by tier and promotions, so the live schedule is the source of truth. The design intent is universal across venues: resting orders create the depth that lets everyone else trade, so adding liquidity is rewarded and consuming it is charged. For high-frequency strategies the maker-taker difference compounds into a decisive cost factor — one reason patient limit-order entries and impatient market-order entries have structurally different economics.
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