# Futures Quantitative Rules require revision

1. The New rules make it impossible to setup autotrading strategies. It’s virtually impossible to take them into account in strategy algorithms, as the nature of the market is unpredictable. The situation may require 1 limit order or 10, these 10 orders may or may not be executed, because it depends on the market, not the trader. For example one may need to average a position in certain conditions, but may already be banned suddenly.

In short, 65% of our users have decided to stop their bots, and trading volumes of the remaining 35% is now a third of what it was.

1. The rules are simply obstructive for no purpose. For example, they prevent 55 limit orders on 55 symbols, even though orders that sit in the order book do not put an unreasonable load on Binance’s resources. The result simply harms traders and market liquidity.

2. The Rules are written very poorly, to understand how it works from the description and formulas on the site. Our users are trying for the 4th day to find out the exact mechanics, including asking binance support, and still haven’t succeeded. (Support case IDs: #83720234, #83751731, #83821365, #83818388, #83799210, etc… )

• 3.1) For example, how to count the 10-minute period? According to various support answers, it is either 10 minutes back from the current time, or intervals from 0 minutes to 10, 10-20 and so on. At the same time neither of the variants was right in our tests: a user had traded 40 symbols between 16:41 and 16:48, 5 of them had 10 unfilled orders (this is UFR exceeding), so he must have been banned; but in fact this wasn’t the case.
In another example, the user was trading between 19:01 and 19:13, overshoted UFR criteria; at 19:13 he stopped the bot and removed all orders, however was banned after 3 minutes at 19:16 (why not at 19:11 , right after 10 minutes as binance support told?)

• 3.2) Let’s consider the formula “All orders count within the cycle >= 10,000/(1.2^(N-1))” from the official document.
What is “All orders count”?
Imagine we take 2 symbols, put 1 order on each. After 1 minute we cancel both orders and set new ones. Each time our orders remain unfilled. So each minute we cancel 2 orders and set 2 new ones. What will be our “All orders count within the cycle”, what do you think? Is it 2, if only active orders are counted? 20, if all new orders including those already canceled are counted? No one from binance support gave the correct answer. Which is, according to our tests, 10. Surprised? looks like someone just forgot to mention in the official document “All orders count per market”.

• 3.3) Lack of continuous data about current limits utilization via the API.
There is an endpoint getTradingStatus. Unlike API weight, this endpoint either returns an empty result (“you are ok”) or suddenly reports that you have already been banned. For example, put 52 orders on 52 different symbols and call this endpoint from time to time.
When working with classic API weight, you can operate with current utilization in percentage of the limit. For example. if the limit is 1200 orders per minute, and you have used 600 (50% usage), you can slightly reduce the bot’s activity. When you are at about 75% utilization, you can reduce it more, in order to keep some “emergency stockpile”, in case you need to emergency exit or average a position.
When working with these new rules and getTradingStatus, you will only know that you are already banned.

Inadequate rules, coupled with a lack of accurate and precise limit algorithms, and no data via the API about the current utilization of those limits, makes autotrading impossible!

These rules are awful.
Binance have just cut my trade strategy in any moment.

39 Likes

Case ID #83747395, since friday not closed, still waiting for details on how to use this broken rules.

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после ввода новых правил мне пришлось остановить торговлю. я боюсь что при активных движениях на рынке можно получить бан и вместо прибыли я получу ликвидацию моих позиций.

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This is a very big problem!

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I turned off all my bots. How can trade with such rules?
Binance, please start thinking not killing!

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These are very bad rules. Thinking about moving to another exchange, Binance is doing everything so that no one trades with them!

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I’m really sorry for Binance. I have stopped trading since yesterday. These ridiculous rules are not good for the biggest exchange in the world!

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The new rules are terrifying, I don’t know how to trade safely without blocking(

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It seems that the new rules are aimed at combating algo traders, and not at improving trading conditions and preventing malicious trading actions in the futures market.

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Terrible rules! But what is more critical is the lack of precise information about how the new rules are calculated!

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The new API restrictions rules for futures are not clear to me. They are not feasible, they interfere with normal trading. It has become almost impossible to trade a trading robot using grid averaging over several pairs at the same time. I do not understand how, due to the new restrictions, to configure trading bots so as not to receive a ban on a coin or an account. Now it has become very easy and unexpected to lose money on my trading deposit due to these new rules. The exchange does not think about its customers at all, contrary to the statements. It seems that now we will have to look for an alternative exchange with acceptable trading rules.

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Dear Binance, please return the old api standards, I can’t trade through my trading terminal. For me, and for many traders, the new rules are not suitable for trading. Thanks for understanding.

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wonderful new rules in addition to killing auto trading, it is also simply impossible to place 50-60 limit orders on different coins at once you get banned, but what about the liquidity of the binance

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for 50 limit orders placed on 50 coins in 10 minutes you get a ban, excellent binance liquidity binance

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Dear binance, do you realize that you just ruined HFT trading bots. Let me quote news from 2020-06-05

Binance Futures has released V2 of their API, which has 10x the speed and performance of the previous V1 API.

# Binance Futures Provides Low Latency Services

Binance Futures is delighted to announce that we are now offering ultra-low latency connectivity and support services to high-frequency (API) trading clients

Today I set 40 orders on 40 different pairs. In about 20 minutes I’ve added 10 more orders on ETH/USDT and after that I got banned.

So 50 orders in half an hour definitely destroys the binance matching engine, users who are doing such destructive trading must evidently be banned ASAP.

This is how the ultra-low latency high-frequency binance API trading looks like today.
Excellent work, binance.

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Still we are having issue with hitting limits Binance do not seem interested in dealing with this or clarifying the rules or adding API information that would allow you to monitor your ratio and take actions according.

What is happening now is feeling very much like we don’t care about you smaller guys as long as out key players have free roam of the API but you must limit what you do for the sake of the VIP 6?

Binance was built because of traders like us without us things will not be so great. already we are seeing futures issues with less traders in the market and less algo’s able to participate at previous levels it’s become much more easy for the big players to take advantage over everyone else.

I see zero input here from Binance on this issue which tells me they do not care because the rules suit the people they have golden handshakes with while pushing everyone else to find somewhere else to trade.

It’s clear that Binance are not going to revoke this limit and let us go back how how things are before.

For me this is looking like the end of an era with Binance sad to see this happen and have so much information from some of the top traders on Binance also saying the rules are terrible.

We need to ensure this topic is not going to sleep to make change we need to have engagement from Binance dev’s around this issue and Binance need to teach there support exactly what the rules mean and not “interpret” them as they see them that is not suitable.

Keep pushing everyone we built Binance from fees and provide massive amounts of trading activity and liquidity something you would expect an exchange to welcome… But now not so much by the looks of the situation.

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Dear binance, do you realize that you just ruined HFT trading bots. Let me quote news from 2020-06-05

Binance Futures has released V2 of their API, which has 10x the speed and performance of the previous V1 API.

# Binance Futures Provides Low Latency Services

Binance Futures is delighted to announce that we are now offering ultra-low latency connectivity and support services to high-frequency (API) trading clients

Today I set 40 orders on 40 different pairs. In about 20 minutes I’ve added 10 more orders on ETH/USDT and after that I got banned.

So 50 orders in half an hour definitely destroys the binance matching engine, users who are doing such destructive trading must evidently be banned ASAP.

This is how the ultra-low latency high-frequency binance API trading looks like today.
Excellent work, binance.

4 Likes

This is a big problem! I stopped trading 2 days ago. I was afraid to get banned. Impossible rules. All members of our community are shocked by what is happening. Some of them started looking for other exchanges. Stop new crazy rules!

43 Likes