TradingIntermediate#Execution#Fees
Post-Only Order
P
Definition
A limit order that ensures the trader only acts as a 'maker' (adding liquidity) and never as a 'taker' (removing it).
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Concept Diagram
Key Takeaways
1
Post-only orders are guaranteed to add liquidity to the order book as a maker order
2
If the order would immediately match as a taker it is automatically cancelled instead
3
Used by traders to ensure they pay maker fees (lower) instead of taker fees (higher)
4
Common strategy for limit order traders who want to earn rebate fees from exchanges
Practical Example
You place a post-only limit buy for BTC at $60,000 on an exchange with 0.02% maker fee vs 0.05% taker fee. If BTC is at $60,010 your order rests in the book (maker). If BTC drops to $59,990, the post-only ensures you don't accidentally take liquidity.
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Related Terms
Blockchain
Hyperliquid L1A specialized app-chain designed for high-performance perpetual trading with sub-second finality and native orderbooks.
Trading
Tick SizeThe minimum price increment at which an asset can be traded on an exchange.
Strategy
TWAP (Time Weighted Average Price)An algorithmic execution strategy that spreads a large order over a fixed period to minimize market impact.
Trading
SlippageThe difference between the expected price of a trade and the actual price at which the trade is executed due to low liquidity.
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