Crypto Market Maker Fees — What It Actually Costs
Issuers ask about cost and get evasive answers because the right answer is structural, not numeric. But the bands are knowable.
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- Working-capital retainer
- USD 15k–60k/month per MM
- Loan inventory
- 1–5% of float, returnable at term
- Option strike
- Typically 25–50% above launch
- Hidden cost
- Renewal renegotiation friction
What you actually pay for
Quoting commitment, balance-sheet usage, technology, and renewal optionality. The retainer is the visible price; the option strike under a loan model is often where the real cost sits.
Frequently asked
Is a loan model cheaper than working capital?
On paper, often yes. Once you model the option value at the strike, frequently no. We model both before recommending either.
Talk to a partner
Live decision on the table?
Panel design, term-sheet review, KPI matrix, or a venue rebate negotiation — direct partner time, no pitch deck.