Effective taker rate
The effective taker rate is an exchange's published taker fee after your payback is subtracted — the real per-fill cost for market orders. loweef computes it as taker fee × (1 − total payback %).
Because taker execution dominates most traders' activity, the effective taker rate is the single most useful number for choosing where to trade. It reduces a two-variable comparison (fee rate and rebate rate) to one directly comparable cost.
The formula is mechanical: an exchange charging 0.06% with a 67% total payback has an effective taker rate of 0.06% × (1 − 67/100). Rankings can flip on this math — an exchange with a higher headline fee but a stronger payback can be cheaper in practice than a "low-fee" venue with no return.
loweef's comparison tables and its weekly ranking use exactly this calculation, always derived from each partner's current published fee and payback split with a verification date attached. Estimates are labeled as such; the rate applied to your actual fills is always the exchange's live schedule at execution time.
Check your own effective rate →