Taker Fee Glossary
Liquidity is the available depth in the order book. A taker removes part of that liquidity by executing against posted orders. A maker adds liquidity by leaving an order available to others.
Spread is the gap between the best bid and best ask. Slippage is the difference between the expected execution price and the actual fill, especially in fast or thin markets.
Understanding the vocabulary improves execution decisions.
These terms connect directly to fee logic. Exchanges charge different rates because makers help build the market, while takers consume immediately available inventory.
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