Maker Rebates
Maker rebates incentivize liquidity providers on Turbine's quick markets (15 minute price prediction markets) by redistributing a portion of virtual taker fees back to makers.
Unlike Liquidity Rewards (designed for longer-duration markets), maker rebates are fill-based — they reward makers only when their resting orders are actually filled, making them ideal for the rapid orderbook turnover of quick markets.
How It Works
1. Trade Execution & Fee Calculation
When a trade is confirmed on a quick market:
- The system identifies the maker (the order that was already resting in the book) and the taker (the incoming order that matched against it)
- A virtual taker fee is calculated based on the fill price
- The fill is recorded for rebate tracking
No actual fees are charged to the taker — the fee is a virtual metric used to calculate maker rebates.
2. Taker Fee Formula
The fee rate follows a quadratic curve that peaks at 50¢ (maximum uncertainty) and drops to zero at price extremes:
fee_rate = 0.25 × (p × (1 - p))²Where p is the fill price as a fraction (0.0 to 1.0).
| Fill Price | Fee Rate | Fee on $10 trade |
|---|---|---|
| $0.10 | 0.20% | $0.020 |
| $0.25 | 0.88% | $0.088 |
| $0.50 | 1.56% | $0.156 |
| $0.75 | 0.88% | $0.088 |
| $0.90 | 0.20% | $0.020 |
The fee formula is symmetric around 50¢. Prices near the extremes generate almost no fee, which naturally reduces the rebate incentive when there's little uncertainty (and thus less need for liquidity).
3. Daily Distribution
At midnight UTC each day:
- Aggregate fees: Sum all virtual taker fees from quick market fills for the previous day
- Calculate rebate pool:
rebate_pool = total_fees × 20% - Distribute pro-rata: Each maker's rebate =
(maker_fees / total_fees) × rebate_pool - Apply minimum: Only makers earning above the minimum threshold ($0.10) receive a payout
Maker vs Taker
- Maker: The trader whose order was already resting in the book (placed first)
- Taker: The trader whose incoming order triggered the match (placed second)
Any trader can be a maker — simply place a resting limit order on a quick market and wait for it to be filled.
Which Markets Qualify?
Maker rebates apply exclusively to quick markets - short-term price prediction markets that resolve automatically in 5-15 minutes.
Regular (long-duration) markets use the Liquidity Rewards system instead.
Liquidity Rewards vs Maker Rebates
| Feature | Liquidity Rewards | Maker Rebates |
|---|---|---|
| Market Type | Regular (long-duration) | Quick markets (5-15 min) |
| Incentivizes | Resting orders (unfilled) | Filled orders |
| Measurement | Periodic orderbook snapshots | On-fill tracking |
| Funding | Configurable daily pool per market | Virtual taker fees (20% redistribution) |
| Scoring | Proximity to midpoint × size | Taker fee formula (peaks at 50¢) |
| Distribution | Daily at midnight UTC | Daily at midnight UTC |
Viewing Your Rebates
Navigate to your Account page and select the Rewards tab to see:
- Total Earned: Your combined lifetime rewards and rebates
- Today's Activity: Your current day's accrued fees from quick market fills
- Maker Rebate History: A table of past daily rebate payouts with date, amount, fees generated, and payment status