Creating Orders with Binance API Using Python
Binance, one of the leading cryptocurrency exchanges globally, offers a comprehensive set of APIs that allow users to interact directly with their platform for various purposes such as trading, fetching data, and more. The Binance API is well-documented and supports numerous endpoints to execute actions like placing orders, fetching order book information, or getting account balances. This article will guide you through the process of using Python to create an order on Binance's platform by leveraging their APIs.
Introduction to Binance API
Binance API is divided into different levels:
1. Spot API: For spot trading and related functions.
2. Margin API: For margin trading functionality.
3. futures API: For futures trading and derivative markets.
4. v1 Deprecated API: Still available but recommended for development purposes only, with plans to phase out in the near future.
5. Production APIs: These are live APIs for production use, designed for both developers and users.
6. Dev Test API: For testing purposes on Binance's testnet.
7. Prod Test API: Similar to Dev Test, but targeted towards professional developers looking to integrate features into their platforms.
Prerequisites
To interact with the Binance API using Python, you need:
A valid account on Binance and necessary permissions for creating orders.
Basic knowledge of Python programming and how APIs work.
Access to a text editor or IDE (Integrated Development Environment) like PyCharm, Visual Studio Code, etc.
`requests` module in your environment; if not installed already, use pip:
```bash
pip install requests
```
Getting the API Key and Secret
Before starting to interact with Binance's APIs, you need to obtain an API key (public key) and secret (private key) by visiting [https://www.binance.com/en/futures/api](https://www.binance.com/en/futures/api) for futures or spot trading and following the instructions on the page.
Step-by-Step Guide to Create an Order with Binance API in Python
Let's create a simple Python script that places a market order (BUY or SELL) using the Binance API.
Step 1: Import Necessary Modules
```python
import requests
from datetime import datetime
```
Step 2: Define Your API Key and Secret
Replace `'your_api_key'` and `'your_secret'` with your actual Binance API key and secret.
```python
API_KEY = 'your_api_key'
SECRET_KEY = 'your_secret'
ACCESS_TOKEN = None # This is required for margin trading; if not used, leave as None
EXCHANGE_ID = 1 # Change to your exchange ID. For margin trading it could be 4 or 5
```
Step 3: Create a Signature Base String and Sign It
This step helps in securely signing the request with the API key and secret.
```python
def sign(api_key, secret_key, nonce, timestamp):
data = str(nonce) + api_key + timestamp + secret_key
return hashlib.sha256(data.encode()).hexdigest()
nonce = 1
timestamp = datetime.utcnow().strftime('%Y%m%d%H%M%S')
signature = sign(API_KEY, SECRET_KEY, nonce, timestamp)
```
Step 4: Prepare the Request Parameters for Order Placement
```python
def create_order(symbol, side, type, timeInForce, quantity, price=None):
global ACCESS_TOKEN
if symbol in ('BTCUSDT', 'BNBBTC') and EXCHANGE_ID != 1:
ACCESS_TOKEN = None # Binance.com supports BTC/USDT and BNBBTC only on spot exchange id 1
data = {
"accessKey": API_KEY,
"secretKey": signature,
"timestamp": timestamp,
"method": "POST",
"nonce": nonce if symbol in ('BTCUSDT', 'BNBBTC') else ACCESS_TOKEN,
"type": type,
"symbol": symbol,
"timeInForce": timeInForce,
"side": side.upper(),
"quantity": quantity,
}
if price:
data['price'] = price
url = "https://fapi.binance.com/fapi/order" if EXCHANGE_ID != 1 else 'https://api.binance.com/api/v3/order'
return requests.post(url, data=data).json()
```
Step 5: Place an Order and Print the Response
For example, place a market order to BUY 0.1 BTC of ETH (Binance USD-trading pair):
```python
order = create_order('BTCUSDT', 'BUY', 'MARKET', None, 0.1)
print(order)
```
This will place a market order for buying 0.1 BTC of ETH at the best available price on Binance, and print the response from Binance's API in JSON format, including details about the executed order like `fills` (individual trades that filled the order), fees paid, and more.
Important Considerations
Ensure you have sufficient balance or margin to execute the order without triggering any slippage due to price changes during execution.
Fees are automatically calculated by Binance's API based on your account settings.
The `create_order` function provided here is a basic example and can be extended according to specific requirements, such as handling different types of orders (e.g., limit orders) or adding error handling for failed requests.
Conclusion
Binance's APIs are powerful tools that allow you to interact with the Binance platform programmatically in various ways, from automating your trading strategies to fetching market data and more. This article has covered a basic example of creating an order using Python; by extending this knowledge and exploring Binance's extensive documentation, you can start building sophisticated applications and integrations that take advantage of their APIs. Always remember to adhere to Binance's API Terms of Service and be mindful of the potential security risks involved with using third-party platforms for trading or interacting with cryptocurrency exchanges.