search

jaggedsoft / node-binance-api

Node Binance API is an asynchronous node.js library for the Binance API designed to be easy to use.
MIT License
1.58k stars 768 forks source link

Does the fututeMarket function (Buy/Sell) send quantity in percentage or in absolute value? #609

Closed tavindev closed 3 years ago

tavindev commented 3 years ago

I'm new to this API and I'm developing a bot for a customer.

image

He said to me to place orders with 5% of the balance. So should I calculate the 5% or does the Future API accept percentages? If I do need to calculate, how could I do it?

Thanks in advance

tonyth00 commented 3 years ago

Hi, Pretty sure futuresMarketBuy/futuresMarketSell functionality requires you to calculate the absolute value. The official binance futures API does not accept percentage as input. https://binance-docs.github.io/apidocs/futures/en/#new-order-trade. The calculation of this value is not so straightforward, and will depend on the leverage bracket selected. Each leverage bracket (see futuresLeverageBracket) contains a notionalCap and notionalFloor values that can be used to determine the max size. Then you would take a percentage of that.

tavindev commented 3 years ago

Hey @tonyth00, thank you for your response, but I have a question. I did some digging and came to this calculation:

balance * 0.05 * leverage / BTC Price (Best Bid or Best Ask)

What's the difference between the calculation you described and this one? I'm sorry if this is a stupid question, I have minimal knowledge about cryptos and trading. And one last thing, how would I do this in code? Is there any socket stream for this "leverage bracket" or do I need to make a request every time I place a trade, and should I multiply notionalCap or notionalFloor?

tonyth00 commented 3 years ago

Hi,

If you adjust the leverage to 125x, notice that the maximum position is 50,000 USDT. This is the notionalCap. So no matter how much money you have in your account, the maximum size will be this amount. You can increase position size by reducing your leverage to the next bracket (250,000 USDT at 100x).

image

futuresLeverageBracket is a single request, you only need to call it once at initialization. It returns leverage brackets for all coins. Leverage brackets don't change very often. Once you have selected a leverage, you can access this object to get notionalCap.

The formula you provided returns the number of BTC to buy. If this value exceeds notionalCap / BTC price, the order will be rejected. In this case you might consider the minimum of the two values to make sure the order executes.

tavindev commented 3 years ago

Ohh I get it :) Tysm for your help and the explanation @tonyth00, I'll close this issue now