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 in FISH.
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 FISH 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.
- Event-level risk tools — Multi-outcome markets expose negative-risk metadata through the CLOB config APIs.
- RFQ flow — The CLOB includes RFQ endpoints for large order workflows. Treat RFQ as an advanced integration path rather than a required market-making dependency.
Getting Started
Section titled “Getting Started”- Complete setup — Create a wallet, deposit FISH through the Bridge, and generate API credentials. See Getting Started.
- Connect to data feeds — Load an initial book through REST, then subscribe to the market WebSocket for price-level deltas and top-of-book updates. 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 FISH | Bridge API | Bridge |
| Generate API credentials | CLOB REST API | Getting Started |
| Post limit orders | CLOB REST API | Trading |
| Monitor orderbook | REST + WebSocket | Market Channel |
| Discover World Cup markets | World Cup topic | World Cup Topic |
| Manage exposure | CLOB REST API | Inventory |
| Cancel live orders | CLOB REST API | Trading |
| Respond to RFQs | CLOB REST API | Advanced integration path |
| Check rebates | CLOB REST API | Maker Rebates |
Section Contents
Section titled “Section Contents”- Getting Started — Wallet setup, deposits, API key creation, and initial risk limits.
- Trading — Order types, batch submission, cancellation strategies, and best practices.
- Inventory Management — Manage ledger balances and outcome exposure.
- Liquidity Rewards — How the reward program works, the scoring formula, and daily distribution.
- Maker Rebates — Volume-tiered BPS rebates paid daily in FISH.
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 contact@openfish.me.