If you’re into market making, you already know the deal — exchange policies can make or break your profits. Some platforms are generous with rebates, others squeeze you with volume requirements that feel impossible to hit unless you’re a whale. Binance, OKX, and Huobi all have their own fiat market maker programs, but which one actually gives you the best deal? Let’s dive in.
Binance just announced some updates to its fiat market maker program, specifically for EUR pairs. Starting March 24, 2025, they’re introducing a tiered system — Tier 1 requires you to hit 0.5% maker volume for a -0.005% maker fee, while Tier 2 bumps that up to 1.0% volume for a -0.010% maker fee. They’ll be checking your trading activity weekly, which is a plus if you’re looking to move up fast. And from April 1, rebates will be based on the past week’s performance, meaning no more waiting a whole month to see your rewards.
Now, that sounds great if you can hit the volume requirements. Negative maker fees are always a win — you’re literally getting paid to provide liquidity. Plus, the weekly evaluation means you don’t have to grind for a full month before getting rewarded. But let’s be real, not everyone is pushing that much volume, and Binance’s focus on EUR pairs means this isn’t a golden ticket for everyone. If you’re trading in other fiat markets, this program might not be all that useful.
OKX, on the other hand, takes a broader approach with a volume-based tier system covering more fiat pairs. Their maker rebates typically range from -0.002% to -0.007%, and while that’s lower than Binance’s top tier, their entry requirements aren’t as brutal. The biggest difference? OKX evaluates market makers monthly rather than weekly. That can be a double-edged sword — less frequent reviews mean less pressure, but also a longer wait to move up. If you’re just getting into market-making or don’t want to stress about weekly volume, OKX might be the more forgiving option.
Then there’s Huobi, which takes a slightly different route. They offer flat maker rebates, usually between -0.002% and -0.006%, with some extra liquidity incentives for high-volume traders. The catch? Their requirements are stricter, making it harder for smaller traders to qualify. Huobi’s market coverage is solid, and if you’re trading at scale, the extra perks can add up. But for most retail market makers, Binance and OKX probably offer a more practical path.
So, which exchange actually wins for market makers? If you’re all about the highest rebates and can hit the volume, Binance is the obvious choice. The -0.010% rebate is hard to beat, and the weekly evaluations make it easier to move up quickly. But if you’re not quite there yet and want something more accessible, OKX gives you a smoother entry point with still-decent rewards. Huobi? It’s great if you’re trading big money, but not ideal for smaller market makers looking for flexibility.
At the end of the day, it all comes down to how much volume you’re pushing and how often you want to be evaluated. Personally, I’d lean towards Binance for the upside potential, but if you’re just starting out, OKX is probably the safer bet. What do you think? Worth jumping into the market maker game, or are the requirements still too steep?
