A maker adds an order to the book that waits to be filled; a taker fills an order that's already there. Exchanges often charge them differently.
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Maker and Taker: A maker adds an order to the book that waits to be filled; a taker fills an order that's already there. Exchanges often charge them differently.
What it means
A maker adds an order to the book that waits to be filled; a taker fills an order that's already there. Exchanges often charge them differently.
Example
Placing a limit buy at 40¢ below the current ask makes you a maker. Hitting the 42¢ ask immediately makes you a taker.
Practical tip
Check Kalshi's current fee schedule: taker fees are usually higher, so patient limit orders can be cheaper.
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