I have one question regarding the liquidity rebate that liquidity providers receive. I've read on investopedia that it refers to the traders/investors who place limit orders since they then "provide" liquidity in terms of liquidity "makers".
However, in other papers I am reading that the liquidity rebate is received by the actual liquidity provider, meaning the market maker who profits from the bid-ask spread and not the investor.
Who actually receives the liquidity rebate then?