i found this one from one Chris Dunn’s videos its called gemini… it looks really nice, im still waiting for them to verify my ID, but they use a “dynamic fee schedule” - this is straight from their site im hoping an expert can take the time to explain this to me like im 5,
Gemini’s real-time, dynamic maker-taker fee schedule provides an institutional-grade trading experience that allows market participants to be charged as low as a 0 bps (0.00%) fee on all liquidity-making trades and be charged as low as a 10 bps (0.10%) fee on all liquidity-taking trades.
DYNAMIC FEE SCHEDULE
Your fee rate for each trading pair is determined by your gross trading volume for that trading pair over a 30 calendar day trailing window. Your fee rate for each trading pair will be recalculated every day at midnight UTC (7:00 p.m. EST/8:00 p.m. EDT) and applied to all your trades going forward from that time.
REAL-TIME FEE CALCULATION
We calculate fees as a fraction of the notional value of each trade (i.e., price × amount). We use units of basis points (“bps”), which represent 1/100th of a percent of notional value. For example, a fee of 25 bps means that 0.25% of the denominated value of the trade will be kept by our exchange, either deducted from the gross proceeds of a trade or charged to the account at the time a trade is executed. Any fees will be applied in real-time at the time a trade is executed. For partially filled orders, only the executed portion is subject to trading fees.
MAKER VS. TAKER
Every trade on a continuous order book involves two orders: one that provides liquidity to the order book, and another that removes liquidity from the order book. For a buy or sell order to provide liquidity, it must first be posted to the order book. This means that it doesn’t fill immediately since it doesn’t match with and trade against an existing order; instead it must rest on the order book until another order matches and trades against it. This kind of buy or sell order adds liquidity to the marketplace and is called liquidity-making1 — the customer who places it is referred to as a maker. On the other hand, a buy or sell order that immediately matches with and trades against an existing order on an order book removes liquidity from the marketplace and is called liquidity-taking — the customer who places it is referred to as a taker. Because liquidity-making orders do not fill immediately and, therefore, bear more market risk, they receive greater incentives.
The base fee for all liquidity-making and liquidity-taking trades for each trading pair is 25 bps (0.25%); however, your fee rate for each trading pair is determined by your gross trading volume on both the continuous and auction order books for that trading pair over a 30 calendar day trailing window.