Skip to content

Maker Rebates

Every fill on Oracle pays a rebate to the resting (maker) side, funded from the taker fee. Rebates are instant: they land in your wallet balance as part of settlement, not as a deferred credit.

Fee split

Per fill:

Party Flow
Taker Pays taker_fee_bps on notional (default 2%)
Maker Receives maker_rebate_bps of notional (default 0.5%)
Treasury Receives the remainder

The exact split per market is exposed via fee config and can be overridden per market.

How it's calculated

taker_fee   = floor(fill_size × fill_price × taker_fee_bps   / 10_000)
maker_rebate = floor(fill_size × fill_price × maker_rebate_bps / 10_000)

fill_price is in micro-USDC per outcome token (6 decimals). fill_size is outcome tokens.

Example: fill 1,000 YES @ $0.65 with default bps →

  • Taker pays fee: 1000 × 650_000 × 200 / 10_000 = 13,000,000 micro-USDC ($13.00)
  • Maker earns rebate: 1000 × 650_000 × 50 / 10_000 = 3,250,000 micro-USDC ($3.25)

When you earn the rebate

You earn the rebate when your resting order is matched by an incoming taker. A GTC limit order that sits on the book and gets filled: rebate. A market order (IOC) that crosses the spread and takes liquidity: no rebate — you're the taker.

Partial fills pay pro-rata.

Where rebates appear

Rebates settle into your wallet's usdc_balance at match time. You can see them immediately:

curl https://api.parti-oracle.pbcapps.dev/v1/balance/${PUBKEY}

There's no separate "rebate claim" step — unlike liquidity rewards, rebates are spendable USDC the instant the match clears.

Stacking with liquidity rewards

A maker fill earns both the rebate and contributes to the liquidity rewards score for the seconds the order was resting. The two programs are independent:

  • Rebate: paid per fill, funded from the taker's fee
  • Reward: paid daily, funded from Oracle's LP budget per market

You don't need to opt in — any resting order is automatically eligible for both.

Fee transparency

The current per-market fee config is returned in the market metadata:

curl https://api.parti-oracle.pbcapps.dev/v1/markets/${MARKET_ID}

Response includes taker_fee_bps, maker_rebate_bps, and the treasury share. Fee changes require an admin tx and are announced at least 24h in advance.