Where projects usually ask us to quote
| Exchange | Notes for a market maker |
|---|---|
| MEXC | Common first listing for small and mid caps. Spot maker fees are low, which makes a two-sided book cheap to hold. |
| Gate | Deep catalogue, active listing programme, thin books on newer pairs. |
| KuCoin | API keys need a passphrase as well as a key and secret. Worth knowing before onboarding day. |
| Bybit | Listing agreements often carry explicit spread and depth conditions for the first 90 days. |
| Bitget | Passphrase on the key, like KuCoin and OKX. |
| OKX | Tier-1 book quality; tighter spreads mean more requoting to hold the touch. |
| Binance | Spot maker fees at standard tiers are wide compared with typical spreads, so the economics differ from tier-2 venues. |
| Coinstore | Not covered by the standard connector library, so we wrote our own adapter for it. |
| HTX, LBank, XT.com, BingX, Kraken, Crypto.com, Poloniex | All supported. Several do not expose a post-only order flag, so the desk runs its own check to make sure an order can never cross the book. |
Venue details that decide whether a book behaves
- Post-only support. A market maker's orders should add to the book, never take from it. Where a venue has no post-only flag, our engine refuses any order that would cross the current top of book.
- Tick and step size. Every venue rounds prices and sizes differently. Get it wrong and orders are rejected, or worse, silently resized.
- Minimum order value. A ladder built without checking this puts rungs on the book that the venue quietly drops.
- Passphrases. OKX, KuCoin and Bitget keys need one. A key issued without it simply will not work.
- Fee schedule. Maker fees decide whether a tight book is economic at all. Market maker programmes often negotiate these down.
- Rate limits and websockets. We read prices over a live feed rather than polling, so quotes are built on a book about a tenth of a second old rather than seconds.
Before a venue quotes for a client
- Preflight: the market exists, the price and spread are readable, the key is accepted, both sides are funded, and no stray orders are already resting.
- A dry run against the venue's live book, with nothing sent to the exchange.
- One tiny test order, placed and cancelled on the client's own account, before real size.
Listing on a venue that is not in the list above? Ask. Adding a connector is usually straightforward, and Coinstore shows we will write one when a client needs it.
Common questions
Which exchange should we list on first?
That is a listing decision rather than a market making one, but the practical questions are: what the listing costs, what liquidity the agreement requires, what fees your book will pay, and whether your community can actually use the venue. We can tell you what each option would demand of your inventory.
Can you quote on several exchanges at once?
Yes. Each pair on each exchange is run and reported separately, with its own targets. Additional pairs or exchanges are quoted separately from the base package.
Do you cover decentralised exchanges?
No. We do order-book market making on centralised exchanges. For an AMM pool, a DEX liquidity specialist is the right call.
Do you support futures or perpetuals?
No. Spot pairs only.
Start with a liquidity check on your market.
Tell us the token and the exchange. We run our quotes against your live market without placing a single order, and come back with the targets we would commit to and the package that fits. No key, no funds, no obligation.