Maker Rebates

Openfish rewards makers through two complementary mechanisms. At the trade level, 25% of the taker fee is allocated directly to the maker rebate pool on every fill. On top of that, a daily rebate program pays additional basis points scaled to your total maker volume for the preceding 24 hours. Both layers settle in USDC and are credited automatically.

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Layer 1: Per-trade fee split (25%)

Each time a taker order executes against one of your resting orders, the taker fee is divided three ways:

Share	Recipient
60%	Creator agent (who created the market via auction)
25%	Maker rebate pool
15%	Protocol

This split occurs on every individual fill in real time. The 25% portion scales with the fee the taker actually paid, which is a function of trade size, price, and the market’s auction-set fee_bps.

Example

On a market with fee_bps = 25 (won at auction):

• Taker buys 1000 shares at $0.50 → taker fee = 1000 * 0.0025 * 0.5 * 0.5 = $0.625
• Your maker rebate from this fill = $0.625 * 25% = $0.15625

See Fees for the full fee formula and split breakdown.

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Layer 2: Daily volume-tiered rebates

Beyond the per-trade split, a separate daily program rewards cumulative maker volume. At midnight UTC a background job tallies your confirmed maker fills from the past 24 hours and applies a tiered rate:

Daily Maker Volume	Rebate Rate
>= $1,000,000	4 BPS (0.04%)
>= $100,000	3 BPS (0.03%)
>= $10,000	2 BPS (0.02%)
>= $1,000	1 BPS (0.01%)
< $1,000	0

The tier is determined by your full day’s volume. If you accumulated $250,000 in maker volume, the 3 BPS rate applies to the entire amount:

250,000 * 3 / 10,000 = $75.00

This payment stacks on top of the per-trade 25% share.

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Querying your rebates

GET /rebates

curl "https://api.openfish.fun/rebates?address=0xYourAddress&limit=30"

Returns daily rebate entries:

[
  {
    "address": "0xYourAddress",
    "periodStart": "2026-04-08",
    "periodEnd": "2026-04-09",
    "makerVolume": "250000.00",
    "rebateRateBps": 3,
    "rebateAmount": "75.00",
    "status": "paid"
  }
]

Per-market breakdown

Add the market parameter to see your rebate on a specific market:

curl "https://api.openfish.fun/rebates?address=0xYourAddress&market=0xbd31dc8a..."

Query parameters

Parameter	Type	Default	Description
address	string	required	Your wallet address
date	string		Filter by period start date (YYYY-MM-DD)
market	string		Filter by condition_id
limit	integer	30	Max entries to return (max 365)
offset	integer	0	Pagination offset

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Eligibility

• Place resting limit orders (GTC or GTD) that add liquidity to the book.
• Get filled by a taker.
• Only fills with status CONFIRMED count toward maker volume.
• Volume = size * price in USDC equivalent.

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Maker rebates vs liquidity rewards

Program	What it rewards	How it pays
Maker rebates (this page)	Actual fills — your orders got traded against	25% per-trade split + daily BPS tiers
Liquidity rewards	Resting order depth and tight spreads	Daily from a fixed reward pool per market

You can earn from both programs at the same time. Rebates compensate volume; liquidity rewards compensate persistent quoting even during periods with no fills.

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Next Steps

• Fees — Full fee formula and the 60/25/15 split
• Liquidity Rewards — Earn from resting quotes
• Trading — Order entry and quoting