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Futures trading Ethereum on Testnet: APierror (Reduction is rejected) despite successful implementation via Binance Web API
As a blockchain enthusiast, it is not uncommon for users to experiment with various trading platforms and API. We have recently encountered a frustrating problem of trafficking Futures Ethereum on Binance Testnet using the Python-Binance library in Python.
background
The “Python-Binance” library is the official integration of the popular Binance API API interface that makes it easy to access and trade with cryptomes, including Ethereum, developers. The library provides a convenient way of performing shops through its web interface or using the user interface for more intuitive interfaces.
TESTNET FUTURES TRADING via Binance Web API
In order to use the Testnet Future Trading feature feature on Binance, we need to first create an account with Binance and generate the necessary API keys. After logging in, we have access to the API web interface using a secure connection (HTTPS).
From the “Python-Binance” documentation we can make shops through the following end points:
Post/API/V3/Trade
Post/API/V5/Book Orders Book *: Get current market prices and provides information about the contract
problem
After setting up our Testnet account and generating API keys, we tried to make an order "Buy short" (reduced) using the "Python-Binance" library. Unfortunately, despite the successful ordering of the order through the user interface in hedge mode, we encountered an error when trying to do this through the web interface.
The error message states that "the Reduction Rules are rejected". This suggests that Binance's internal mechanisms have rejected our business request for some reason, even though we were able to successfully perform it through the user interface.
tuning and solution
To tuning this problem, we took a closer look at the excerpts of the code provided by the Library of Python-Vinance. After examination, we found that the Testnet Futures endpoint is not designed for "reduced" orders that are designed to purchase or sell contracts.
To solve this problem, we decided to explore alternative approaches using the user interface and other API offered by Binance. We have created an account to secure and tried to carry out our store through the hedge interface in hedge mode.
After some experimentation with different types of orders and parameters, we could successfully place the order "buy short" (only reduced) through the hedge interface. This solution suggests that the use of the user interface could be a viable alternative to the Futures Testnet trading, despite the limitations set by the Binance API end points.
Conclusion
This article emphasizes an unexpected problem with the order "Buy short" (only a reduction) at Binance's Testnet via the "Python-Binance" library. However, it also represents how experimenting with alternative API and interfaces can provide a solution for common problems.
For users who are interested in exploring the Ethereum trafficking at Binanka testnet using the "Python-Binance" library, this article provides a valuable lesson: always verify the end points and API documentation before attempting to comprehensive operations.
Code excerpts
If you are interested in further review of these solutions, here are some excerpts of the code:
- Conducting stores through the Binance Web API interface:
Python
Import requirements
Api_key = “your_api_KEY”
API_SECRET = “Your_api_secret”
URL = “
headers = {
“Api-Key”: Api_Key,
“API-SECRET”: Api_secret,
}
Data = {“symbol”: “etusdt”, “side”: “Buy”, “Type”: “Limit”, “Quantity”: 10000, “Timeinforce”: “GTC”}
Response = request.