Taker order
A taker order fills immediately against orders already resting in the book, removing liquidity. Market orders are always takers; limit orders are takers when they cross the spread.
A taker order trades certainty of execution for cost. By matching instantly against the best available resting orders, it guarantees a fill (up to available depth) but pays the higher taker fee and, on larger sizes, may walk through several price levels — the source of slippage.
Most real-world trading activity is taker flow: entering on a breakout, closing a position quickly, or any stop-loss and liquidation execution the exchange performs on your behalf. That is why the taker fee, not the maker fee, is the realistic cost baseline for most traders.
On a $10,000 position at a 0.06% taker rate, one fill costs a few dollars — small alone, but a round-trip doubles it and an active month multiplies it by dozens. Fee paybacks apply to taker fees the same as maker fees, so the 50–67% return on loweef's partner exchanges directly reduces this largest cost line.
See what your taker fees cost per month →