Maker Rebates

Openfish rewards makers through two complementary mechanisms. At the trade level, a fixed maker share of the taker fee is allocated to the resting maker on every fill. On top of that, a daily rebate program can pay additional basis points scaled to the maker’s confirmed volume for the preceding 24 hours. Both layers settle in the Openfish FISH ledger and are credited automatically.

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Layer 1: Per-Trade Fee Split

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

Market configuration	Creator share	Maker rebate share	Protocol share
Creator-configured market	60%	25%	15%
System market without creator fee config	0%	25%	75%

This split occurs on every individual fill. The maker portion scales with the fee the taker actually paid, which is a function of trade size, price, and the market’s configured fee_bps. Current system-created markets do not need to go through the old public auction path to become live.

Example

On a market with fee_bps = 25:

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

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 maker share.

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Querying your rebates

GET /rebates

curl "https://api.openfish.me/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.me/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 FISH 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	Per-trade maker share + 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 fee split behavior
• Liquidity Rewards — Earn from resting quotes
• Trading — Order entry and quoting