I am using Python to access the BINANCE servers.
Question : Can the code I used to “create orders” for Futures and Spot Exchanges (on Binance) also be used for trading Margin (on Binance)?
I also found this information here speaking of Applying For and Repaying Loans (for use with Margin)
Can one apply for a loan AND create an order at the same time? If so, how long would such an operation take?
Below is the way I am seeing it now …
=> For Order Creation:
- Determine a safe amount to borrow (max is 3 to 1 - i.e. if you have 1 BTC, you can borrow 2 more)
- Check the interest rate (how can this be calculated)
- Calculate the liquidation level ( see here: https://youtu.be/6FctbZBo2qw?t=282 )
- Apply for the loan
- If approved, open the Order
My questions are:
=> How to find the interest rate for the coin ( #2 above)
=> How could one calculate the liquidation level (#3 above)
=> How long would it take to be ‘apporoved’ or ‘denied’ for the loan. Does one have to use asyncio to track the “approval” or denial"
In the case of a CANCEL or SELL, one would have to “Repay” the loan - but - for a SELL, it would be better to SELL First. Once complete, then “Repay” the loan.