Ethereum API Error: Incorrect Price Ratio

As a crypto trader, it is not uncommon to encounter issues when trying to execute orders on different exchanges. One such issue can be due to incorrect price ratios between the order type (e.g. sell) and the exchange’s market data.

In this article, we will show you an example of how an API error occurred for Ethereum (ETH) due to a mismatch in price ratios for sell orders on Binance.

Problem:

Let’s say you are using Python to trade on Binance with VS Code. You have selected the following parameters:

• Order Type: Sell

• Exchange: Binance (USDT)

• Price:

+ Buy: 1.5174 USD

+ Sell: 1.5084 USD

However, you have selected the sell order price as 1.51143181 USD.

Error:

After submitting a request to execute a sell order on Binance, you have encountered an error message stating:

• APIError(code=-2010): The price ratio is incorrect.

Reason:

On the Ethereum blockchain, the price of a token (e.g. FTM) is calculated based on its market value at a given time with a given timestamp. When you enter a buy or sell price for an order, you are essentially requesting the current, real-time market value of that token.

Here’s what happens:

• Binance fetches the latest USDT prices from its internal servers.

• Based on these prices, it calculates the market value of FTM at the given timestamp (buy or sell).

• However, if the price relationship between FTM and USDT is not properly defined (e.g. due to an error in the data query or calculation), Binance returns an error code (-2010).

Fix:

To fix this issue, you need to make sure that the API request contains the correct price relationships. You can do this by specifying a lower buy price and a higher sell price.

For example:

buy_price = 1.5174
sell_price = 1.5084





Assuming you have retrieved the latest prices from Binance
current_usdt_price = ... 
retrieve the current USDT market value
current_ftm_price = current_usdt_price / current_usdt_price - sell_price 
calculate the FTM price based on the current USDT price and the sell price

In the code example:

Here is an updated example of how you can modify your Python code to solve this problem:

import requirements

Define the Ethereum price API endpoint
api_endpoint = "

Define the buy and sell price parameters
buy_price = 1.5174
sell_price = 1.5084

Define the exchange (in this case Binance)
exchange = "binance"

Make a GET request to get the latest prices
response = requests.get(api_endpoint + "?symbol=FTM&side=ask&tsyms=USDT")

Check if the response was successful
if response.status_code == 200:

Parse the JSON response
data = response.json()

Calculate the FTM price based on the current USDT price and the sell price
current_usdt_price = float(data["data"][0]["ask"])
current_ftm_price = current_usdt_price / current_usdt_price - sell_price

Create a new order request with the appropriate parameters
order_data = {
"type": "restriction",
"side": "sell",
"currency exchange,
"price": current_price_ftm
}

Make a POST request to execute the order
response = requests.post(" json=order_data)

By making these changes, you will be able to resolve the API error and successfully execute your sell orders on Binance.

Metamask Swapexacttokensforeth Invoking