Ethereum Price Error on Binance: Uncovering the Root Cause
As a seasoned trader or investor, you’re no stranger to navigating the complexities of cryptocurrency markets. However, when it comes to the popular exchange Binance, even experienced users can encounter unexpected errors that leave them scratching their heads.
In this article, we’ll delve into a recent issue affecting Ethereum (ETH) traders on Binance, where an error is reported due to a mismatch in price data. To understand what’s happening and how to resolve it, let’s break down the details of the error code, its message, and the specific symptom causing the problem.
The Error Code: A Clue to the Problem
When you submit an order for Ethereum (ETHUSDT) on Binance, a standard API error is triggered. The error code provided by the exchange is:
code: -1013
msg: ‘Filter failure: PERCENT_PRICE’
This code snippet indicates that there’s an issue with filtering price data in the percentages column.
The Unexpected Behavior
While passing an average price value into the filter may seem like a straightforward step, it appears there’s more to this story. Here are some possible reasons why Binance might be experiencing unexpected errors:
- Incorrect or outdated price feeds
: The error could be related to the way Binance retrieves its prices from external sources. If these prices are not up-to-date or accurate, they may not match what you expect in your filter.
- Inadequate filtering logic: The percentages column is a critical component of your price data. However, if there’s an issue with how the filter is set up or applied, it could lead to unexpected results, including the error code
-1013.
- Exchange rate changes: Exchange rates can fluctuate rapidly, and Binance might not be updating its prices in real-time accordingly. This mismatch in price data could cause your filter to fail.
What to Do Next
To resolve this issue, you’ll need to investigate further:
- Verify the source of the error: Reach out to Binance’s customer support to request assistance with troubleshooting.
- Check the price feeds: Ensure that the external sources are reliable and up-to-date.
- Review filtering logic: Double-check your filter setup to ensure it’s correctly applied and takes into account any necessary adjustments for percentages data.
By taking these steps, you should be able to identify the root cause of this error on Binance and resolve the issue with your Ethereum (ETH) trades.
Conclusion
Ethereum price errors can occur even in well-maintained exchanges like Binance. By understanding what might be causing these errors, traders can take proactive measures to prevent them from affecting their trading activities.