How ​​to Close a Short or Long Position on Binance Futures – Step-by-Step Guide

Are you tired of receiving notifications when your position is closed on Binance Futures? Do you want to prevent market makers and other traders from placing unnecessary orders? Closing a short or long position on Binance Futures is possible, but it requires some knowledge of the platform’s APIs and order types. In this article, we will walk you through the process of closing a short position without generating a new order.

Prerequisites

Before you begin, make sure you have the following:

• Binance API Access

  

  – You must be logged in to your Binance account and have the required API credentials.

• Futures API Endpoint – Familiarize yourself with the Futures API endpoint that Binance uses to create orders.

• Position Object – Make sure you have a positions dictionary that contains the position data, including the original amount.

Step-by-step instructions

To close a short position on Binance Futures without creating a new order:

• Get your position details: Use the positions dictionary to retrieve the current position details:

`python

Check if you are holding or closing: Determine whether you are holding the short position (i.e. the price is above the market) or closing it (i.e. the price is below). You can use this information to decide what type of order to create.

Create an order for closing: Use thefutures.create_ordermethod with a symbol, type (longif closing) and other parameters as needed:
python
order = client.futures.create_order(
symbol=binance_futures_symbol,
side='close',
type=binance_futures_order_type,
amount=short_amount,
expiration=None 
Optional: Set the expiration time (in seconds)
)

Note that the expirationsetting is optional and only applies when using a specific order type. If you do not set it, the position will be closed immediately.

• Verify the order: Use theclient.futures.get_order_idmethod to verify that the order closing was successful:

python

Closing a long position



To close a long position on Binance Futures without creating a new order, use the same steps and replace "shortQty" with the amount you want to sell (i.e. the market value).
python
longQty = float(positions['origQty'])
order = client.futures.create_order(
symbol=binance_futures_symbol,
side='close',
type=binance_futures_order_type,
quantity=long_quantity,
expiration=None 
Optional: Set the expiration time (in seconds)
)

Verify the order
order_id = client.futures.get_order_id(order['id'])
print(order_id)

• Be careful when using the sideparameter (e.g.close`) to avoid generating unnecessary requests.

• Always review the order details before proceeding.

If you follow these steps, you should be able to close a short or long position on Binance Futures without generating new orders. Remember to stay alert and closely monitor your positions to ensure they remain in your favor.