How Does the CEX’s Fee Structure Compare to an RFQ Platform’s Model?

CEXs typically charge explicit transaction fees, known as taker/maker fees, based on volume, and a withdrawal fee. RFQ platforms, being non-custodial, often charge a subscription or platform access fee to institutions.

The execution cost on RFQ is often embedded in the bid/ask spread provided by the liquidity provider, making the cost less transparent but often better for large trades.

What Is the Difference between a “Maker” and a “Taker” Fee?
How Does the Fee Structure in FPPS Compare to the Concept of a “Bid-Ask Spread” in Financial Markets?
How Does ‘Withdrawal Lock-up’ Affect the Execution of Cross-Exchange Arbitrage?
Why Is the Effective Spread Considered a More Accurate Measure of Trading Cost than the Quoted Spread?
Does a Smart Contract Inherently Create an Explicit Agreement?
How Does the Effective Spread Differ from the Quoted Spread?
How Does the Existence of MEV Affect the Average User’s Transaction Cost?
How Does a Portfolio Rebalancing Strategy Compare to Providing Liquidity in a High-Volatility Environment?

Glossar