Update Polymarket documentation (2026-02-18)
- Add new documentation URLs to TARGET.md - Add 8 new documentation files from polymarket-learn section - Update maker-rebates-program.md with 5-minute crypto markets info
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> ## Documentation Index
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> Fetch the complete documentation index at: https://docs.polymarket.com/llms.txt
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> Use this file to discover all available pages before exploring further.
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# Maker Rebates Program
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Polymarket has enabled taker fees on **15-minute crypto markets**, **5-minute crypto markets**, **NCAAB (college basketball)**, and **Serie A** markets. These fees fund a **Maker Rebates** program that pays daily USDC rebates to liquidity providers.
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<Note>
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Starting **Wednesday, February 18th, 2026 at midnight (UTC)**, taker fees and maker rebates will apply to all **new** NCAAB and Serie A markets created after that time. Existing markets are not affected. The first payout will be on February 19th at midnight (UTC).
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</Note>
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## Why Expand Maker Rebates?
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Sports markets benefit from the same dynamics as our 15-minute crypto and 5-minute crypto markets. When liquidity is deeper:
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* Spreads tend to be tighter
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* Price impact is lower
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* Fills are more reliable
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* Markets are more resilient during volatility
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Maker Rebates incentivize consistent, competitive quoting so everyone gets a better trading experience.
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### Program Funding
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Maker Rebates are funded by taker fees collected in eligible markets. A percentage of these fees are redistributed to makers who keep the markets liquid. The rebate percentage differs by market type.
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| Market Type | Period | Maker Rebate | Distribution Method |
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| ----------------------- | ------------- | ------------ | ------------------- |
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| 15-Min Crypto | Jan 19, 2026+ | 20% | Fee-curve weighted |
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| 5-Min Crypto | Feb 12, 2026+ | 20% | Fee-curve weighted |
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| Sports (NCAAB, Serie A) | Feb 18, 2026+ | 25% | Fee-curve weighted |
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<Note>
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Polymarket collects taker fees in eligible markets (15-minute crypto, 5-minute crypto, NCAAB, and Serie A). The rebate percentage is at the sole discretion of Polymarket and may change over time.
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</Note>
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## Taker Fee Structure
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Taker fees are calculated in USDC and vary based on the share price. However, fees are collected in shares on buy orders and USDC on sell orders.
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Fees are highest at 50% probability and lowest at the extremes (near 0% or 100%).
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<img src="https://mintcdn.com/polymarket-292d1b1b/12mKTb6PQ_jJnYbI/polymarket-learn/media/fee_image_review.png?fit=max&auto=format&n=12mKTb6PQ_jJnYbI&q=85&s=9e5b1d1a262fb6c787af5b6a0fa4d6c2" alt="Fee Curves" data-og-width="1484" width="1484" data-og-height="882" height="882" data-path="polymarket-learn/media/fee_image_review.png" data-optimize="true" data-opv="3" srcset="https://mintcdn.com/polymarket-292d1b1b/12mKTb6PQ_jJnYbI/polymarket-learn/media/fee_image_review.png?w=280&fit=max&auto=format&n=12mKTb6PQ_jJnYbI&q=85&s=111b6dc97e2b301501c02e2df5e3df35 280w, https://mintcdn.com/polymarket-292d1b1b/12mKTb6PQ_jJnYbI/polymarket-learn/media/fee_image_review.png?w=560&fit=max&auto=format&n=12mKTb6PQ_jJnYbI&q=85&s=063f99ef8ec728e399a7cd0b27e704a0 560w, https://mintcdn.com/polymarket-292d1b1b/12mKTb6PQ_jJnYbI/polymarket-learn/media/fee_image_review.png?w=840&fit=max&auto=format&n=12mKTb6PQ_jJnYbI&q=85&s=c7d74e4ca10bd953f1f08a9851017f3c 840w, https://mintcdn.com/polymarket-292d1b1b/12mKTb6PQ_jJnYbI/polymarket-learn/media/fee_image_review.png?w=1100&fit=max&auto=format&n=12mKTb6PQ_jJnYbI&q=85&s=bc3dbf551ae32d6c4e7d85558831fb1f 1100w, https://mintcdn.com/polymarket-292d1b1b/12mKTb6PQ_jJnYbI/polymarket-learn/media/fee_image_review.png?w=1650&fit=max&auto=format&n=12mKTb6PQ_jJnYbI&q=85&s=d082a6e2029bc3f4797d758d689e2c37 1650w, https://mintcdn.com/polymarket-292d1b1b/12mKTb6PQ_jJnYbI/polymarket-learn/media/fee_image_review.png?w=2500&fit=max&auto=format&n=12mKTb6PQ_jJnYbI&q=85&s=417d0c9a66a64d31588d15c908cebf39 2500w" />
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### Fee Table (100 shares)
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<Tabs>
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<Tab title="5-Min & 15-Min Crypto">
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| Price | Trade Value | Fee (USDC) | Effective Rate |
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| ------ | ----------- | ---------- | -------------- |
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| \$0.01 | \$1 | \$0.00 | 0.00% |
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| \$0.05 | \$5 | \$0.003 | 0.06% |
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| \$0.10 | \$10 | \$0.02 | 0.20% |
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| \$0.15 | \$15 | \$0.06 | 0.41% |
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| \$0.20 | \$20 | \$0.13 | 0.64% |
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| \$0.25 | \$25 | \$0.22 | 0.88% |
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| \$0.30 | \$30 | \$0.33 | 1.10% |
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| \$0.35 | \$35 | \$0.45 | 1.29% |
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| \$0.40 | \$40 | \$0.58 | 1.44% |
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| \$0.45 | \$45 | \$0.69 | 1.53% |
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| \$0.50 | \$50 | \$0.78 | **1.56%** |
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| \$0.55 | \$55 | \$0.84 | 1.53% |
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| \$0.60 | \$60 | \$0.86 | 1.44% |
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| \$0.65 | \$65 | \$0.84 | 1.29% |
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| \$0.70 | \$70 | \$0.77 | 1.10% |
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| \$0.75 | \$75 | \$0.66 | 0.88% |
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| \$0.80 | \$80 | \$0.51 | 0.64% |
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| \$0.85 | \$85 | \$0.35 | 0.41% |
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| \$0.90 | \$90 | \$0.18 | 0.20% |
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| \$0.95 | \$95 | \$0.05 | 0.06% |
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| \$0.99 | \$99 | \$0.00 | 0.00% |
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The maximum effective fee rate is **1.56%** at 50% probability. Fees decrease symmetrically toward both extremes.
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</Tab>
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<Tab title="Sports (NCAAB, Serie A)">
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| Price | Trade Value | Fee (USDC) | Effective Rate |
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| ------ | ----------- | ---------- | -------------- |
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| \$0.01 | \$1 | \$0.00 | 0.02% |
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| \$0.05 | \$5 | \$0.00 | 0.08% |
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| \$0.10 | \$10 | \$0.02 | 0.16% |
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| \$0.15 | \$15 | \$0.03 | 0.22% |
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| \$0.20 | \$20 | \$0.06 | 0.28% |
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| \$0.25 | \$25 | \$0.08 | 0.33% |
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| \$0.30 | \$30 | \$0.11 | 0.37% |
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| \$0.35 | \$35 | \$0.14 | 0.40% |
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| \$0.40 | \$40 | \$0.17 | 0.42% |
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| \$0.45 | \$45 | \$0.19 | 0.43% |
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| \$0.50 | \$50 | \$0.22 | **0.44%** |
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| \$0.55 | \$55 | \$0.24 | 0.43% |
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| \$0.60 | \$60 | \$0.25 | 0.42% |
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| \$0.65 | \$65 | \$0.26 | 0.40% |
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| \$0.70 | \$70 | \$0.26 | 0.37% |
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| \$0.75 | \$75 | \$0.25 | 0.33% |
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| \$0.80 | \$80 | \$0.22 | 0.28% |
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| \$0.85 | \$85 | \$0.19 | 0.22% |
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| \$0.90 | \$90 | \$0.14 | 0.16% |
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| \$0.95 | \$95 | \$0.08 | 0.08% |
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| \$0.99 | \$99 | \$0.02 | 0.02% |
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The maximum effective fee rate is **0.44%** at 50% probability. Fees decrease symmetrically toward both extremes.
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</Tab>
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</Tabs>
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### Fee Precision
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Fees are rounded to 4 decimal places. The smallest fee charged is 0.0001 USDC. Anything smaller rounds to zero, so very small trades near the extremes may incur no fee at all.
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## FAQ
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<AccordionGroup>
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<Accordion title="How are rebates calculated?">
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Rebates are proportional to your share of executed maker liquidity in each eligible market. Totals are calculated per market, so you only compete with other makers in the same market.
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</Accordion>
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<Accordion title="Which markets have fees enabled?">
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15-minute crypto markets, 5-minute crypto markets, and starting February 18, 2026, NCAAB and Serie A markets.
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</Accordion>
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<Accordion title="Is Polymarket charging fees on all markets?">
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No. Fees apply only to 15-minute crypto, 5-minute crypto, NCAAB, and Serie A markets. All other markets remain fee-free.
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</Accordion>
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</AccordionGroup>
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## For API Users
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If you trade programmatically, you'll need to update your client to handle fees correctly.
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<Card title="Developer Guide: Maker Rebates" icon="code" href="/developers/market-makers/maker-rebates-program">
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Technical documentation for handling fees in your trading code
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</Card>
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