Maker/Taker is the trader who participates in the trade. These two are distinguished by the way they order.
- Maker : Trader who enter Long/Short orders and wait for their order to be executed by another trader
- Taker : Trader who immediately execute trades on existing orders rather than waiting for their price to be met by other traders
If you are waiting for a contract to be filled after placing your price you set, you are the Maker. On the other hand, if you fill an order by ordering the price the Maker submitted in the Order Book, you are the Taker.
Ask and Bid are orders by the Maker and have not yet been filled. The difference between Ask and Bid is the price to sell or to buy.
- Ask : It is an order that the Maker sells for sale. This includes Open Short and Close Long orders.
- Bid : It is the order that the Maker puts out to buy. This includes Open Long and Close Short orders.
Ask and Bid are displayed in the Order Book.