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Update documentation - March 26, 2026

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docs/market-makers/maker-rebates.md
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@@ -6,20 +6,13 @@
> Earn daily USDC rebates by providing liquidity on Polymarket
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.
Polymarket has enabled taker fees across multiple market categories. These fees fund a **Maker Rebates** program that pays daily USDC rebates to liquidity providers.
***
## Why Maker Rebates?
## Why Maker Rebates
Sports markets benefit from the same dynamics as crypto markets. When liquidity is deeper:
* Spreads tend to be tighter
* Price impact is lower
* Fills are more reliable
* Markets are more resilient during volatility
Maker Rebates incentivize **consistent, competitive quoting** so everyone gets a better trading experience.
Deeper liquidity means tighter spreads, lower price impact, more reliable fills, and greater resilience during volatility. Maker Rebates incentivize **consistent, competitive quoting** so everyone gets a better trading experience.
***
@@ -42,16 +35,24 @@ Rebates are paid daily in USDC, directly to your wallet.
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.
| Market Type | Period | Maker Rebate | Distribution Method |
| ----------------------- | ------------- | ------------ | ------------------- |
| 15-Min Crypto | Jan 19, 2026+ | 20% | Fee-curve weighted |
| 5-Min Crypto | Feb 12, 2026+ | 20% | Fee-curve weighted |
| Sports (NCAAB, Serie A) | Feb 18, 2026+ | 25% | Fee-curve weighted |
| Category | Maker Rebate | Distribution Method |
| --------------- | ------------ | ------------------- |
| Crypto | 20% | Fee-curve weighted |
| Sports | 25% | Fee-curve weighted |
| Finance | 50% | Fee-curve weighted |
| Politics | 25% | Fee-curve weighted |
| Economics | 25% | Fee-curve weighted |
| Culture | 25% | Fee-curve weighted |
| Weather | 25% | Fee-curve weighted |
| Other / General | 25% | Fee-curve weighted |
| Mentions | 25% | Fee-curve weighted |
| Tech | 25% | Fee-curve weighted |
| Geopolitics | — | Fee-free |
<Note>
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.
Polymarket collects taker fees in eligible markets across all fee-enabled categories.
The rebate percentage is at the sole discretion of Polymarket
and may change over time.
</Note>
***
@@ -68,10 +69,19 @@ fee_equivalent = C × p × feeRate × (p × (1 - p))^exponent
Where **C** = number of shares traded and **p** = price of the shares. The fee parameters differ by market type:
| Parameter | Sports (NCAAB, Serie A) | 5-Min & 15-Min Crypto |
| --------- | ----------------------- | --------------------- |
| Fee Rate | 0.0175 | 0.25 |
| Exponent | 1 | 2 |
| Category | Fee Rate | Exponent |
| --------------- | -------- | -------- |
| Crypto | 0.072 | 1 |
| Sports | 0.03 | 1 |
| Finance | 0.04 | 1 |
| Politics | 0.04 | 1 |
| Economics | 0.03 | 0.5 |
| Culture | 0.05 | 1 |
| Weather | 0.025 | 0.5 |
| Other / General | 0.2 | 2 |
| Mentions | 0.25 | 2 |
| Tech | 0.04 | 1 |
| Geopolitics | 0 | — |
Your daily rebate:
@@ -93,65 +103,9 @@ Taker fees are calculated in USDC and vary based on the share price. However, fe
</div>
</Frame>
### Fee Table (100 shares)
### Fee Tables (100 Shares)
<Tabs>
<Tab title="5-Min & 15-Min Crypto">
| Price | Trade Value | Fee (USDC) | Effective Rate |
| ------ | ----------- | ---------- | -------------- |
| \$0.01 | \$1 | \$0.00 | 0.00% |
| \$0.05 | \$5 | \$0.003 | 0.06% |
| \$0.10 | \$10 | \$0.02 | 0.20% |
| \$0.15 | \$15 | \$0.06 | 0.41% |
| \$0.20 | \$20 | \$0.13 | 0.64% |
| \$0.25 | \$25 | \$0.22 | 0.88% |
| \$0.30 | \$30 | \$0.33 | 1.10% |
| \$0.35 | \$35 | \$0.45 | 1.29% |
| \$0.40 | \$40 | \$0.58 | 1.44% |
| \$0.45 | \$45 | \$0.69 | 1.53% |
| \$0.50 | \$50 | \$0.78 | **1.56%** |
| \$0.55 | \$55 | \$0.84 | 1.53% |
| \$0.60 | \$60 | \$0.86 | 1.44% |
| \$0.65 | \$65 | \$0.84 | 1.29% |
| \$0.70 | \$70 | \$0.77 | 1.10% |
| \$0.75 | \$75 | \$0.66 | 0.88% |
| \$0.80 | \$80 | \$0.51 | 0.64% |
| \$0.85 | \$85 | \$0.35 | 0.41% |
| \$0.90 | \$90 | \$0.18 | 0.20% |
| \$0.95 | \$95 | \$0.05 | 0.06% |
| \$0.99 | \$99 | \$0.00 | 0.00% |
The maximum effective fee rate is **1.56%** at 50% probability. Fees decrease symmetrically toward both extremes.
</Tab>
<Tab title="Sports (NCAAB, Serie A)">
| Price | Trade Value | Fee (USDC) | Effective Rate |
| ------ | ----------- | ---------- | -------------- |
| \$0.01 | \$1 | \$0.00 | 0.02% |
| \$0.05 | \$5 | \$0.00 | 0.08% |
| \$0.10 | \$10 | \$0.02 | 0.16% |
| \$0.15 | \$15 | \$0.03 | 0.22% |
| \$0.20 | \$20 | \$0.06 | 0.28% |
| \$0.25 | \$25 | \$0.08 | 0.33% |
| \$0.30 | \$30 | \$0.11 | 0.37% |
| \$0.35 | \$35 | \$0.14 | 0.40% |
| \$0.40 | \$40 | \$0.17 | 0.42% |
| \$0.45 | \$45 | \$0.19 | 0.43% |
| \$0.50 | \$50 | \$0.22 | **0.44%** |
| \$0.55 | \$55 | \$0.24 | 0.43% |
| \$0.60 | \$60 | \$0.25 | 0.42% |
| \$0.65 | \$65 | \$0.26 | 0.40% |
| \$0.70 | \$70 | \$0.26 | 0.37% |
| \$0.75 | \$75 | \$0.25 | 0.33% |
| \$0.80 | \$80 | \$0.22 | 0.28% |
| \$0.85 | \$85 | \$0.19 | 0.22% |
| \$0.90 | \$90 | \$0.14 | 0.16% |
| \$0.95 | \$95 | \$0.08 | 0.08% |
| \$0.99 | \$99 | \$0.02 | 0.02% |
The maximum effective fee rate is **0.44%** at 50% probability. Fees decrease symmetrically toward both extremes.
</Tab>
</Tabs>
For detailed fee tables for each market category, see the [Fees](/trading/fees) page.
### Fee Precision
@@ -159,48 +113,43 @@ Fees are rounded to 4 decimal places. The smallest fee charged is 0.0001 USDC. A
***
## Which Markets Are Eligible?
## Which Markets Are Eligible
The following market types have taker fees enabled and are eligible for maker rebates:
The following market categories have taker fees enabled and are eligible for maker rebates: Crypto, Sports, Finance, Politics, Economics, Culture, Weather, Tech, Mentions, and Other / General.
* **15-minute crypto markets**
* **5-minute crypto markets**
* **NCAAB (college basketball) markets** (starting February 18, 2026 for new markets)
* **Serie A markets** (starting February 18, 2026 for new markets)
All other markets remain fee-free.
<Note>
Fees apply only to markets deployed on or after the activation date. Pre-existing markets are unaffected. Markets with fees enabled have `feesEnabled` set to `true` on the market object.
</Note>
***
## FAQ
<AccordionGroup>
<Accordion title="How do I qualify for maker rebates?">
<Accordion title="How do I qualify for maker rebates">
Place orders that add liquidity to the book and get filled (i.e., your
liquidity is taken by another trader).
</Accordion>
<Accordion title="When are rebates paid?">Daily, in USDC.</Accordion>
<Accordion title="When are rebates paid">Daily, in USDC.</Accordion>
<Accordion title="How are rebates calculated?">
<Accordion title="How are rebates calculated">
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.
</Accordion>
<Accordion title="Where does the rebate pool come from?">
<Accordion title="Where does the rebate pool come from">
Taker fees collected in eligible markets are allocated to the maker rebate
pool and distributed daily.
</Accordion>
<Accordion title="Which markets have fees enabled?">
15-minute crypto markets, 5-minute crypto markets, and starting February 18,
2026, NCAAB and Serie A markets.
<Accordion title="Which markets have fees enabled">
Crypto, Sports, Finance, Politics, Economics, Culture, Weather, Tech, Mentions, and Other / General markets. Fees only apply to markets deployed on or after the activation date.
</Accordion>
<Accordion title="Is Polymarket charging fees on all markets?">
No. Fees apply only to 15-minute crypto, 5-minute crypto, NCAAB, and Serie A
markets. All other markets remain fee-free.
<Accordion title="Is Polymarket charging fees on all markets">
Fees apply to markets in fee-enabled categories. Markets with fees enabled have `feesEnabled` set to `true` on the market object.
</Accordion>
</AccordionGroup>
@@ -217,3 +166,6 @@ All other markets remain fee-free.
Start placing orders on Polymarket.
</Card>
</CardGroup>
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