Maker means the order rested
A limit order that enters the book and waits before matching typically adds liquidity. The resulting fill receives the venue's maker rate.
A marketable limit order can execute immediately and receive taker treatment instead.
Taker means immediate liquidity removal
Market orders are normally taker orders because they match available bids or asks. Taker fees are often higher because immediate execution consumes liquidity.
Calculate the round trip
A trade normally has an entry and an exit. Both can incur fees, and funding can add another holding cost. A small gross profit may therefore produce a net loss.
Fee tier is only one part of execution cost
A lower maker fee can be outweighed by adverse selection if a resting order fills just before price moves against it. A taker fee can be worth paying when immediacy materially reduces risk. Compare the all-in result: fee, spread, price impact, funding, and the cost of an unfilled order.13
Fees reduce return and should be included in break-even analysis before capital is committed. Use the actual account tier and both sides of the anticipated round trip rather than a headline base rate.24
Worked round-trip comparison
On a $10,000 position, a hypothetical 0.05% taker fee costs $5 per side, or $10 for entry and exit before funding. A 0.02% maker fee would cost $2 per side, but saving $6 on the round trip is not useful if waiting for a fill leads to a $20 worse market move or leaves a hedge incomplete.12
Record explicit fees and implementation shortfall separately. That makes it possible to see whether a cheaper fee tier actually improved execution quality.34