Nothing clarifies the maker-taker distinction better than working through real numbers. The following examples show exactly how fees are calculated in practical trading scenarios.
Example 1: Ethereum Market Order (Taker) on Binance
Scenario: You want to buy 1 ETH at the current market price of $3,500. You place a market order on Binance (VIP 0, no BNB discount).
- Order type: Market order → taker fee applies
- Taker fee rate: 0.10%
- Trade value: $3,500
- Fee paid: $3.50
Example 2: Ethereum Limit Order (Maker) on Binance
Scenario: Same trade, but you place a limit buy order at $3,480 (below the current price) and wait for it to fill.
- Order type: Limit order resting on book → maker fee applies
- Maker fee rate: 0.10%
- Trade value: $3,480
- Fee paid: $3.48
In this Binance example the fee difference is tiny because Binance charges equal rates for makers and takers at the base tier. The real savings come at higher tiers where maker rates drop faster.
Example 3: The Same Trade on Kraken
Scenario: Same 1 ETH purchase worth approximately $3,500 on Kraken (base tier).
- Market order (taker): 0.40% × $3,500 = $14.00 fee
- Limit order below market (maker): 0.25% × $3,500 = $8.75 fee
- Savings by using maker order: $5.25 per trade
This is where the difference becomes meaningful. On Kraken at the base tier, using a limit order instead of a market order saves 37.5% on the fee for every trade.
Example 4: High-Volume Monthly Impact
Scenario: A trader executes $500,000 in monthly spot volume on Kraken (base tier).
- All taker orders: 0.40% × $500,000 = $2,000/month in fees
- All maker orders: 0.25% × $500,000 = $1,250/month in fees
- Annual savings from maker orders: $9,000/year
Example 5: The Limit Order Trap
Scenario: ETH bid/ask is $3,490 / $3,500. You place a limit buy order at $3,501 — above the current ask.
- Your order immediately matches the $3,500 ask and executes
- Despite using a limit order, you pay the taker fee
- Lesson: A limit order only generates a maker fee if it does not cross the spread
The critical insight most traders miss: using a limit order does not automatically make you a maker. If your limit buy price sits at or above the lowest ask, your order executes immediately, making you a taker despite using a limit order.
