Maker fee rate
Taker fee rate
A maker is someone who places an order at a specified price that is not immediately filled by existing orders in the depth chart, but instead goes into the depth list to wait for another party to fill it. For example, if the current selling price is 1,000 USDT and you place a buy order at 999 USDT, your order will go into the buy list in the depth chart and wait for someone to match your price, at which point your order is filled and the maker fee is paid.
A taker is someone who places an order at a specified price that is immediately filled by existing orders in the depth chart. For example, if the current selling price is 1,000 USDT and you place a buy order at 1,001 USDT, your order is filled immediately because your buying price is higher than the current market selling price, hence you are considered a taker and the taker fee is paid.
Formula: Transaction fee calculation = Face Value * Number of contracts * Average transaction price * Fee rate
Example: A user opens a long position of 2,000 BTC contracts when the latest price is 20,000 USDT. As the user's bidding price is higher than 20,000 USDT, the user's order is filled quickly, so the user is a Taker. So, how much is the user's transaction fee: 0.001 * 2,000 * 20,000 * 0.06% = 24 USDT
How to identify Makers and Takers:
If a user's order time and transaction time are not the same, they are a Maker.
If a user's bid price and average transaction price are not the same, they are a Taker.