Coins.xyz's Spot Trade uses a Maker-Taker fee model for its trading fees. Maker fees are applied to orders that provide liquidity on the order book while taker fees are applied to orders that take away liquidity.
To explain further, maker fees are applied to orders that are not instantly matched on existing orders on the order book. Until a counterparty is found, the order stays on the order book and provides liquidity. As soon as the order gets executed, the maker is charged with maker fees. On the other hand, taker fees are applied to orders that are executed immediately, thus taking away liquidity from the order book.
To provide examples:
- All market orders regardless of buy or sell are charged with taker fees.
- Stop-market orders are charged with taker fees when their stop price is hit and the market order gets executed immediately.
- For example, the current ask price of BTC is USD 70,000. If you create a Limit Order to buy 1 BTC at USD 65,000, it is not immediately executed and stays on the order book. Once the ask price reaches USD 65,000, your order is executed and you are charged with maker fee.
- If the order you placed gets partially matched immediately, that portion will be charged with a taker fee. The remaining portion is placed on the order book, and you will be charged with a maker fee when a counterparty takes it.
Maker and taker fees are based on your monthly Rolling Trade Volume (More on this here). Calculation of your monthly RTV can be found here.
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