What exactly do market makers earn?

The main revenue of market makers comes from three things:

① Spread

You are willing to buy at a higher price and sell at a lower price, and they profit from the price difference.

② Liquidity Subsidy / Rebate (Based on Exchange Mechanism)

Continuous order → Provide liquidity → Receive rebates.

③ Absorbing the losses of irrational traders

Orders from retail investors caused by emotions, wrong positions, panic, and chasing highs and cutting losses,
Market makers earn by absorbing orders, hedging, and then releasing in reverse.

So:
Market makers are not here to "predict prices," but to "design price paths to maximize transactions," especially to trigger more stop losses or liquidations.