EnglishFor a better trading environment and to prevent malicious API trading activities, Binance established the following quantitative rules for API trading.
1. Definitions
API Trading Quantitative Rules refer to a set of rules that regulate normal trading based on quantitative indicators, which currently include the following:
Indicator | Definition | Calculation |
Unfilled Ratio (UFR) | Unfilled value as a percentage of all orders value | 1-(Filled Value/Orders Value) |
GTC Cancel Ratio (GCR) | Invalid canceled orders as a percentage of all GTC orders, where an invalid canceled order is an order placed for less than 2 seconds before it is canceled | Invalid Canceled Orders Count/GTC Orders Count |
IOC & FOK Expire Ratio (IFER) | Expired IOC & FOK orders count as a percentage of all IOC & FOK orders | Expired IOC & FOK Orders Count/FOK & IOC Orders Count |
Dust Ratio (DR) | Dust orders count as a percentage of all orders count, where a dust order is an order with value less than the threshold value, which varies according to different symbols ($10 for now) | Dust Orders Count/Orders Count |
Ban Count (BC) | Ban count within 24 hours | Ban count within 24 hours |
2. Recording and Ban Thresholds
The current system uses a retrospective calculation of the 10-minute cycle indicator and only bans the one with specific orders count above a certain threshold, as follows:
Indicator | Recording Threshold | Ban Threshold |
Unfilled Ratio (UFR) | All orders count within the cycle >= 10,000 | UFR >= 0.99 |
GTC Cancel Ratio (GCR) | GTC orders count within the cycle >=5,000 | GCR >= 0.99 |
IOC & FOK Expire Ratio (IFER) | FOK & IOC orders count within the cycle>=5,000 | IFER >= 0.99 |
Dust Ratio (DR) | All orders count within the cycle >= 10,000 | DR>=0.9 |
Ban Count (BC) | - | Ban count within 24 hours >=10 |
3. Restrictions
For users who violate the quantitative rules, they will be restricted from opening or increasing positions on the symbols which they violate the rules, and the short-term ban time is 5 minutes, which will recover automatically upon expiration; if they violate the quantitative rules 10 times in a row within 2 hours, they will be banned for 2 hours and recover automatically upon expiration; their trading on reduce-only orders or other symbols that do not violate the rules will not be affected.
For example, if a user violates the UFR rules of BTCUSDT Perpetual Contract, he can't open or increase position in BTCUSDT Perpetual Contract within 5 minutes, but he can put reduce-only orders (orders to reduce his position); meanwhile, his trading in other products, such as ETHUSDT Perpetual Contract, will not be affected if he doesn't violate any rules; if he violates any rules in BTCUSDT Perpetual Contract for 10 times in 2 hours, his opening orders in BTCUSDT Perpetual Contract will be restricted for the following 2 hours.