What is the problem with my code in borrowing Cryptocurrency with API in Binance?

Question

I opened my Margin Wallet and transferred some USDT into that wallet. I can place a long order with "create_margin_order" function in my code, but I cannot borrow BTC with "create_margin_loan" function before I open a short position.

Here is my code:

    def btn_test_Clicked(self):
        current_time = datetime.now().strftime("%Y%m%d%H%M%S.%f")
        # check the amount which I can borrow
        order_result = self.binance_client.get_max_margin_loan(asset="BTC")
        print("Binance Max Loan = " + str(order_result))
        # borrowing the BTC
        order_result = self.binance_client.create_margin_loan(asset="BTC", amount=1.5)
        print("Binance Loan Result = " + str(order_result))
        # Place an order
        self.order_result = self.binance_client.create_margin_order(symbol="BTCUSDT", side=SIDE_SELL,type=ORDER_TYPE_LIMIT, timeInForce=TIME_IN_FORCE_GTC, quantity=1.5, price="8000")
        print("Binance Margin Order Result = " + str(order_result))

I use Python and the IDE is PyCharm. After clicking the button, I can see the response about the max borrowing amount. After that, my program was terminated and the message is:

Process finished with exit code -1073740791 (0xC0000409)

It is obviously that my code is wrong about the borrowing part. What is the right way to borrow with API in Binance? Thank you.

Answer 1

There is no need to borrow first, Binance support automatic borrow and sell function.

Here is the code:

order_result = client.create_margin_order(symbol="BTCUSDT", side=SIDE_BUY, type=ORDER_TYPE_LIMIT, timeInForce=TIME_IN_FORCE_GTC, sideEffectType="MARGIN_BUY", quantity=0.5, price=3000)

The important part is the "sideEffectType" parameter option. Borrow buy and borrow sell to open the position are all set to "MARGIN_BUY". And set to "AUTO_REPAY" to close the position. It can square the position and repay the debt at the same time.