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Binance API Usage (III. Spot Contract Trading)

#Web3#币安670
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This document discusses trading on Binance using the Python ccxt library, following previous articles on API creation and data retrieval. It covers the distinction between spot and futures accounts, how to instantiate them with appropriate API keys, and the process of placing limit and market orders. 1. **Account Types**: To use a futures account, set `defaultType` to 'future'; for a spot account, set it to 'spot'. 2. **Limit Orders**: Limit buy and sell orders can be placed using `create_limit_buy_order()` and `create_limit_sell_order()`, respectively. The parameters include the trading symbol, amount, and price. Ensure sufficient funds are available, as insufficient balance will result in an error. 3. **Market Orders**: Market buy and sell orders are placed using `create_market_buy_order()` and `create_market_sell_order()`, requiring only the symbol and amount. 4. **Creating Orders**: A unified `create_order()` function can handle both market and limit orders by specifying the type and side (buy/sell). 5. **Setting Leverage**: For futures trading, leverage can be set using `set_leverage()`, which requires the trading symbol and leverage amount. It is advisable to set the leverage before placing an order. Overall, the document provides a practical guide for executing trades on Binance using Python, emphasizing the importance of managing account types and ensuring sufficient funds for transactions.

In the previous two articles, we covered API creation and data retrieval, and now we will move on to the trading section. If any of you reading this have not registered on Binance yet, you can use my referral link to register and get fee discounts (which allows me to earn a small commission as encouragement for me, haha😘): https://accounts.binance.com/register?ref=DPVSZVI3

Here, we are using the wrapped Binance API interface in Python's ccxt library as an example. In the last chapter, we already installed and instantiated the exchange class exchange. If you are still unsure, you can go back and check the previous article.

1. Spot Account vs. Futures Account#

In the previous section, when we instantiated the exchange class, we mentioned that the optional parameter options specifies defaultType as future, which means a futures account:

exchange = ccxt.binance({
    'apiKey': 'xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx',
    'secret': 'xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx',
    'timeout': 30000,
    'enableRateLimit': True,
    'options': {'defaultType': 'future'}
})

Here, the apiKey and secret need to be replaced with the values from the API you created. If you are unclear about the other parameters, you can refer back to the previous chapter.

If you want to instantiate a spot account, you need to specify defaultType as spot:

exchange = ccxt.binance({
    'apiKey': 'xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx',
    'secret': 'xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx',
    'timeout': 30000,
    'enableRateLimit': True,
    'options': {'defaultType': 'spot'}
})

2. Limit Orders#

The limit order for spot trading uses the same function as for futures, but futures also require specifying the leverage. After discussing market and limit orders, we will explain how to set leverage.

exchange.create_limit_buy_order(symbol='JUP/USDT', amount=6, price=0.9)

It is easy to see the meaning of the parameters:

  • symbol is the trading symbol.
  • amount is the quantity to buy (this quantity is not the amount of USDT spent, but the number of coins you are buying; for example, I am buying 6 JUP here, and the same applies for selling).
  • price is the order price.

Similarly, the function for selling is create_limit_sell_order(), with the same parameter meanings as above.

When using these functions, you need to have sufficient funds in your account, and in the case of non-reducing positions, the trading amount must be greater than 5 USDT; otherwise, the error code will be as follows:

root@vultr:~/transaction/main# python3 test.py JUP/USDT
Traceback (most recent call last):
File "/usr/local/lib/python3.10/dist-packages/ccxt/base/exchange.py", line 629, in fetch
response.raise_for_status()
File "/usr/lib/python3/dist-packages/requests/models.py", line 943, in raise_for_status
raise HTTPError(http_error_msg, response=self)
requests.exceptions.HTTPError: 400 Client Error: Bad Request for url: https://api.binance.com/api/v3/order

During handling of the above exception, another exception occurred:

Traceback (most recent call last):
File "/root/transaction/main/test.py", line 247, in
exchange.create_limit_buy_order(COIN, 6, 0.9)
File "/usr/local/lib/python3.10/dist-packages/ccxt/base/exchange.py", line 4493, in create_limit_buy_order
return self.create_order(symbol, 'limit', 'buy', amount, price, params)
File "/usr/local/lib/python3.10/dist-packages/ccxt/binance.py", line 5554, in create_order
response = self.privatePostOrder(request)
File "/usr/local/lib/python3.10/dist-packages/ccxt/base/types.py", line 35, in unbound_method
return _self.request(self.path, self.api, self.method, params, config=self.config)
File "/usr/local/lib/python3.10/dist-packages/ccxt/binance.py", line 10280, in request
response = self.fetch2(path, api, method, params, headers, body, config)
File "/usr/local/lib/python3.10/dist-packages/ccxt/base/exchange.py", line 3643, in fetch2
return self.fetch(request['url'], request['method'], request['headers'], request['body'])
File "/usr/local/lib/python3.10/dist-packages/ccxt/base/exchange.py", line 645, in fetch
skip_further_error_handling = self.handle_errors(http_status_code, http_status_text, url, method, headers, http_response, json_response, request_headers, request_body)
File "/usr/local/lib/python3.10/dist-packages/ccxt/binance.py", line 10224, in handle_errors
self.throw_exactly_matched_exception(self.exceptions['exact'], message, self.id + ' ' + message)
File "/usr/local/lib/python3.10/dist-packages/ccxt/base/exchange.py", line 4013, in throw_exactly_matched_exception
raise exactstring
ccxt.base.errors.InsufficientFunds: binance Account has insufficient balance for requested action.

Normally, after running the above limit buy code, you can check the corresponding order in spot trading. You can set a smaller order price for testing:

image

3. Market Orders#

The market order for spot and futures trading uses the same function.

exchange.create_market_buy_order(symbol='BTC/USDT', amount=0.01)

You only need to specify two parameters:

  • symbol is the trading symbol.
  • amount is the quantity to trade.

Market orders do not require a specified price; if the account balance is sufficient, executing this function will immediately buy the corresponding amount, so no demonstration is needed here.

Similarly, the selling function is create_market_sell_order(), with the same parameters as above.

4. Creating Orders#

The two functions above are used for specific orders and directions, but in fact, one function can handle everything.

def create_order(
    symbol: str,
    type: OrderType,
    side: OrderSide,
    amount: float,
    price: float = None,
    params: Any = {}
) -> Order

There are two additional parameters, type and side:

  • type is the order type, which can be market market or limit limit.
  • side is the direction, which can be buy buy or sell sell.
  • price defaults to None, because if it is a market order, a price does not need to be specified.

Thus, the initial limit buy of JUP can be written as follows:

exchange.create_order('JUP/USDT', 'limit', 'buy', 6, 0.9)

In addition, there are functions like create_market_order() and create_limit_order(), etc., which should be self-explanatory from their names.

5. Setting Futures Leverage#

When trading with a futures account, if you do not specify the leverage, it will default to the last leverage you set in the graphical interface. If you need to set it, you should use set_leverage(), which has two parameters: symbol and leverage, which are the trading symbol and leverage (int type).

Therefore, it is best to always include set_leverage() to set the leverage before opening a futures position:

exchange.set_leverage(10, 'JUP/USDT')
exchange.create_order('JUP/USDT', 'limit', 'buy', 6, 0.9)
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