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 meme 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 can be managed with event-level exposure limits. See Multi-Outcome Markets.
- 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 — Create a wallet, deposit platform meme through the Bridge, 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 platform meme | Bridge API | Bridge |
| Generate API credentials | CLOB REST API | Getting Started |
| Post limit orders | CLOB REST API | Trading |
| Monitor orderbook | WebSocket | Market Data |
| Manage exposure | CLOB REST API | Inventory |
| Cancel live orders | CLOB REST API | Trading |
| Respond to RFQs | RFQ API | RFQ |
| 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 meme.
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.me.