# Comparison with order book exchanges Perpetual Protocol is an AMM-based DEX, making trading somewhat different from the traditional order book exchange model seen in traditional finance and early Ethereum DEXs. #### Makers and Takers Every trade is made with the Perpetual Protocol vAMM as the maker. However, there are no additional fees for trading as a taker. This is one of the nice features about the vAMM model (and what makes our limit orders different to orders on other sites). If you place a limit order to buy 1 ETH at $2000, then you will be the taker and the vAMM will be the maker. Functionally, with a vAMM a limit order to buy 1 ETH at $2000 is the same as saying "Place a market order for 1 ETH only when the price is below $2000." So it is quite likely that you actually get a better price than your order asked for. #### Example If ETH drops from $2001 to $1950 suddenly (ie. in 1 block), then Apex will execute your order at the current price of $1950. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.apex.win/apex-docs/how-apex-works/comparison-with-order-book-exchanges.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.