**Post-Only

1. Post-Only Orders: A Comparative Analysis of Futures Platforms (Binance, Bybit, OKX)

Introduction

For active futures traders, understanding order types and fee structures is paramount to profitability. One powerful, yet often underutilized, order type is the "Post-Only" order. As detailed in our guide on Post-Only Orders and Their Benefits, this order type ensures your order *always* acts as a maker, adding liquidity to the order book and potentially benefiting from reduced fees. This article compares how three leading futures platforms – Binance, Bybit, and OKX – implement Post-Only orders, examining their features, pros, and cons. We'll also touch on how you can leverage Post-trade analysis to optimize your Post-Only strategy. For a definition of what a Post-Only order *is*, see our Post Only Order page.

Understanding Post-Only Orders

Before diving into the platforms, let's quickly recap. A Post-Only order instructs the exchange to only execute your order if it doesn't immediately match existing orders on the order book. In essence, it *must* be a maker order. This is often rewarded with lower maker fees, encouraging traders to provide liquidity. However, it’s crucial to understand that if your Post-Only order would turn into a taker order (due to price movement or order book changes), it will be *cancelled* rather than executed as a taker.

Platform Comparison

Let's examine how Binance, Bybit, and OKX handle Post-Only orders and their surrounding features:

Platform	Max Leverage	Funding Interval	Taker Fee	Maker Fee	Post-Only Implementation	Conditional Orders	Interface Layout	Funding Mechanism	Notes
Binance	125x	8h	0.04%	0.001%	Available as a checkbox within the order settings. Can be applied to Limit and Stop-Limit orders.	Yes, via 'Conditional Orders' - Trigger Price and Take Profit/Stop Loss.	Relatively cluttered, especially for advanced orders. Can be overwhelming for beginners.	USDT-Margined, Coin-Margined, and Multi-Asset-Margined options.	Largest liquidity, but higher fees overall unless significant volume is traded. Good for a wide range of altcoins.
Bybit	100x	8h	0.075%	-0.025%	Available as a checkbox within the order settings. Applies to Limit orders.	Yes, via 'Conditional Orders' - Trigger Price, Take Profit/Stop Loss, and Time-Based Trigger.	Cleaner and more intuitive than Binance, especially for futures trading. Good for beginners.	USDT Perpetual, USDC Perpetual, and Inverse Perpetual (USDt).	Excellent maker rebates. Good for scalping and high-frequency trading due to low taker fees and fast execution.
OKX	100x	8h	0.08%	-0.03%	Available as a checkbox within the order settings. Applies to Limit orders.	Yes, via 'Advanced Conditional Orders' - Trigger Price, Take Profit/Stop Loss, Iceberg Orders, and more.	Highly customizable and feature-rich, but can be complex. Offers a variety of trading tools.	USDT-Margined, Coin-Margined, and Inverse Perpetual (USDT/USD).	Strong focus on derivatives trading. Offers a wide range of exotic contracts. Competitive funding rates.

Detailed Analysis

**Binance:** Binance offers Post-Only functionality, but its interface can be overwhelming. While the liquidity is high, the standard taker fees are higher compared to Bybit and OKX. Leveraging conditional orders is straightforward, offering standard TP/SL functionality.
**Bybit:** Bybit stands out with its aggressive maker rebates, making Post-Only orders particularly attractive. Its interface is cleaner and more user-friendly, appealing to both beginners and experienced traders. The conditional order options are robust, including time-based triggers.
**OKX:** OKX provides a highly customizable trading experience. Its advanced conditional orders, including iceberg orders, give traders more control. However, the complexity can be a barrier to entry for newcomers. OKX's range of funding options allows traders to tailor their margin strategy.

Pros and Cons Summary

- Binance:**
**Pros:** High liquidity, wide range of altcoins.
**Cons:** Cluttered interface, relatively high taker fees.

- Bybit:**
**Pros:** Excellent maker rebates, user-friendly interface, fast execution.
**Cons:** Slightly lower maximum leverage compared to Binance.

- OKX:**
**Pros:** Highly customizable, advanced conditional orders, competitive funding rates.
**Cons:** Complex interface, steeper learning curve.

Optimizing Your Post-Only Strategy with Post-Trade Analysis

Regardless of the platform you choose, consistent Post-trade analysis is crucial for refining your Post-Only strategy. Analyzing filled and cancelled orders helps you understand:

**Slippage:** How much did the execution price deviate from your intended price?
**Cancellation Rate:** How often are your Post-Only orders being cancelled? High cancellation rates might indicate overly aggressive price targeting or volatile market conditions.
**Profitability:** Are your Post-Only orders contributing to overall profitability?

By meticulously tracking these metrics, you can adjust your order placement, size, and timing to maximize the benefits of Post-Only trading.

Conclusion

The best platform for Post-Only trading depends on your individual trading style and preferences. Bybit offers a compelling combination of low fees, a user-friendly interface, and robust conditional order functionality. OKX provides advanced tools for experienced traders, while Binance boasts the highest liquidity. Regardless of your choice, a thorough understanding of Post-Only orders and consistent post-trade analysis are essential for success.

Recommended Futures Trading Platforms

Platform	Futures Features	Register
Binance Futures	Leverage up to 125x, USDⓈ-M contracts	Register now
Bitget Futures	USDT-margined contracts	Open account

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