Maker and taker fees: calculate what each fill costs

A role at execution, not an account label

Maker and taker describe how an execution interacts with an order book. The distinction belongs to the fill, not to the person placing it. An order that consumes available liquidity can be a taker even when it was entered with a limit price. Coinbase documents that an immediately matched portion can receive taker treatment while a remaining portion later filled from the book receives maker treatment. Check execution records rather than inferring fees from the order button.

Write down the correct calculation base

For a straightforward quote-currency fee example, multiply filled quantity by execution price to obtain filled value, then multiply by the applicable fee rate. Convert a displayed percentage before calculating: 0.06% is 0.0006, not 0.06. This simple example is not a universal formula for inverse contracts or every asset pair. Confirm the product's units and the currency in which the exchange deducts the fee. Otherwise, apparently precise arithmetic can still be based on the wrong amount.

An opening and closing example

Assume a hypothetical linear product with a 2,000 USD opening fill charged at 0.06%. The opening fee is 1.20 USD. If the closing fill has a value of 2,050 USD and a hypothetical 0.02% rate, its fee is 0.41 USD. Total execution fees are 1.61 USD. Using the original 2,000 USD value for both sides would miss the changed closing value. These rates illustrate arithmetic only and should never substitute for your logged-in fee schedule.

One order can contain different fee calculations

Imagine an order whose first 800 USD of value executes immediately at a hypothetical 0.06%, while another 1,200 USD later executes at 0.02%. The two fees are 0.48 USD and 0.24 USD, totaling 0.72 USD. Dividing by the 2,000 USD total produces an effective rate of 0.036%. Applying the lower rate to the entire order would understate the fee by 0.32 USD. Partial fills are therefore worth keeping as separate worksheet rows before aggregating.

Reconcile rate, currency and rounding

A practical worksheet includes order ID, fill ID, time, quantity, price, liquidity role, rate, charged currency and charged amount. Add the actual deductions first, then compare your calculated estimate. Small differences may arise when each fill is rounded separately or the charge uses a different currency. Keep the native-currency record instead of silently replacing it with a dollar estimate. If you need a dollar total, record the conversion price and timestamp so another person can reproduce it.

Use the result in a broader cost review

Your execution-fee total answers one question: how much did those fills cost in explicit commission? It does not answer how much price movement, spread or funding affected the account. Nor does it determine an eligible affiliate commission automatically. For a FeeBuddies review, retain both the exchange fee statement and the separately confirmed partner records. Comparing the two helps explain the cashback calculation without pretending every fee is included or that the same fee tier applies to every product.