Ethereum API Error: Price Ratio Incorrect

As a cryptocurrency trader, it is not uncommon to encounter issues when trying to execute orders on multiple exchanges. One such issue can arise from incorrect price relationships between the order type (e.g. sell) and the exchange’s market data.

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

The Problem:

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

• Order Type: Sell

• Exchange: Binance (USDT)

• Price:

+ Buy: 1.5174 USDT

+ Sell: 1.5084 USDT

However, you have selected a sell order price of $1.51143181.

The Error:

After submitting your request to execute a sell order on Binance, you noticed an error message that states:

• API Error (code=-2010): The price relationship is incorrect.

The Cause:

On the Ethereum blockchain, the price of a token (e.g. FTM) at a given point in time is calculated based on its market value at a specific timestamp. When you specify a buy or sell price for an order, you are essentially looking up the current market value of that token in real time.

Here’s what happens:

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

• Based on these prices, calculate the market value of FTM at the specified timestamp (buy or sell).

• However, if the price relationship between FTM and USDT is not defined correctly (for example, due to a data collection or calculation error), Binance will return an error code (-2010).

Solution:

To resolve this issue, you need to make sure that your API request includes 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 got the latest prices from Binance
current_usdt_price = ... 
retrieve the current market value of USDT
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 sample code:

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

import queries

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 price of FTM 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 correct parameters
order_data = {
"type": "limit",
"country": "sell",
"currency": exchange,
"price": current_ftm_price
}

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

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