Market Makers Overview
Market makers on Openfish maintain standing bid and ask orders in prediction markets, providing the depth that lets other participants open and close positions without excessive slippage. In exchange for this service, market makers collect the bid-ask spread, qualify for liquidity rewards, and receive maker rebates.
Why Make Markets on Openfish
Section titled “Why Make Markets on Openfish”- Zero maker fees — Makers never pay trading fees on Openfish.
- Maker rebates — Earn tiered daily USDC rebates based on your maker volume. See Maker Rebates.
- Liquidity rewards — A separate incentive pool distributed daily to liquidity providers who keep tight, two-sided quotes. See Liquidity Rewards.
- Capital efficiency — Negative risk markets let you collateralise positions across multiple outcomes with a single deposit. See Negative Risk.
- RFQ flow — Large block traders submit Requests for Quote that only market makers can respond to, giving you first look at institutional flow.
Getting Started
Section titled “Getting Started”- Complete setup — Fund your wallet with USDC.e on Polygon, approve exchange contracts, and generate API credentials. See Getting Started.
- Connect to data feeds — Subscribe to the WebSocket for real-time orderbook updates and the Gamma API for market metadata. See Market Data.
- Start quoting — Post limit orders via the CLOB REST API. See Trading.
Quick Reference
Section titled “Quick Reference”| Action | Tool | Documentation |
|---|---|---|
| Deposit USDC.e | Bridge API | Bridge |
| Approve tokens | Relayer Client | Getting Started |
| Post limit orders | CLOB REST API | Trading |
| Monitor orderbook | WebSocket | Market Data |
| Split USDC.e into tokens | CTF Contract | Inventory |
| Merge tokens to USDC.e | CTF Contract | Inventory |
| Respond to RFQs | RFQ API | RFQ |
| Check rebates | CLOB REST API | Maker Rebates |
Section Contents
Section titled “Section Contents”- Getting Started — Wallet setup, deposits, token approvals, and API key creation.
- Trading — Order types, batch submission, cancellation strategies, and best practices.
- Inventory Management — Split, merge, and redeem outcome tokens to keep your books balanced.
- Liquidity Rewards — How the reward program works, the scoring formula, and daily distribution.
- Maker Rebates — Volume-tiered BPS rebates paid daily in USDC.
Quoting prediction markets carries tangible risk. A crossed book — where your bid exceeds your ask — means every fill loses money. Always validate quote prices against current market conditions before submission, and wire up a kill switch that fires cancel_all the moment you detect anomalous fills, position limit breaches, or connectivity degradation.
Support
Section titled “Support”For market maker onboarding and technical support, contact support@openfish.fun.