In this case all 1000 TRX was sold at the same price of 0.10153000 BUSD. We’ll use the specific spot_new_market_order() function to avoid having to specify the order_type parameter. Now let’s sell some TRX and purchase BUSD. Price slippage is a necessary evil of making market trades. So we got some ETH at a price of 1556.42 USDT, but in order to fill the order we got the rest at higher prices. Although we asked to buy 1 ETH, there wasn’t sufficient volume available at the market price. There was some slippage in this transaction. Price qty commission commissionAsset tradeId We can see the details in the fills element. Why? Because there is often not an unique price associated with the trade. This is also reflected in the fact that the executed quantity ( exec_qty) matches the original quantity ( orig_qty). The status of the transaction is FILLED, meaning that the entire amount requested was bought. (ethusdt_mkt ġ ETHUSDT 454759 06:16:42 0 1 1 FILLED GTC MARKET BUY The effective price for the transaction will be the current ETHUSDT market price. Use the generic spot_new_order() function and specify "MARKET" order type. Market orders are trades which are executed at the current market price. ? The prices on the Binance testnet differ dramatically from the real prices on the Binance mainnet. The base is the asset which you are buying or selling and the quote is the other asset which you will be paying or receiving. In this case the price works the other way around: 1 ETH would get you 0.575063 BTC, while 1 XRP would sell for 0.000019 BTC. Likewise, if you had XRP, then you could sell on XRPBTC. If you had ETH and you wanted to buy BTC then you’d make a sell trade on ETHBTC (selling ETH for BTC). In either of these cases you’d be making a buy trade, either buying BTCBUSD (trading BUSD for BTC) or BTCUSDT (trading USDT for BTC).ĭoes this mean that it’s only possible to purchase BTC with BUSD or USDT? Nope! BTC features in other pairs too, like ETHBTC and XRPBTC. If, however, you were paying in USDT then it would cost you 60607.26 USDT. If you were going to pay for that in BUSD then it would cost you 51421.87 BUSD. market_price_ticker() %>% arrange(symbol) %>% mutate(price = round(price, 6)) What does this mean? Well, let’s look at the corresponding price information. For example, the BTCUSDT pair has BTC as the base and USDT as the quote. There are vastly more pairs on the Binance mainnet.Įach pair consists of two cryptocurrencies, the base and the quote. So there are twenty pairs, all of which are currently available for spot trading (their status is TRADING). Symbol status base quote is_spot_trading_allowed Which pairs can we trade? Let’s see what currency pairs are available on the Binance testnet. The price will be different if you are purchasing in USDT or ETH (or any other cryptocurrency for that matter). For example, what is the price of BTC? Well, that depends on what you are using to purchase BTC. It always needs to be compared to another cryptocurrency. It doesn’t make sense to think about the price of a single cryptocurrency in isolation. Trades always involve a pair of currencies and prices are always quoted for pairs. The relative amounts of each currency involved in the transaction is determined by the market price (or spot price). In a single trade you’d exchange an amount of one currency for the corresponding amount of another currency. Trading is the process of buying and selling assets, where in the current context those assets are cryptocurrencies.
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