Deribit API Documentation

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  1. Deribit API Documentation A Beginner’s Guide

The Deribit API (Application Programming Interface) is a powerful tool that allows traders and developers to interact with the Deribit exchange programmatically. This means you can automate your trading strategies, build custom trading tools, and access market data without manually using the Deribit web interface. This article provides a comprehensive beginner's guide to the Deribit API documentation, covering everything from authentication to executing trades.

What is an API and Why Use It?

An API acts as an intermediary, allowing different software applications to communicate with each other. In the context of cryptocurrency exchanges like Deribit, the API allows your code (written in languages like Python, JavaScript, or C++) to send instructions to the exchange – to check prices, place orders, manage positions, and more.

Why use an API instead of the web interface?

  • Automation: Automate your trading strategies based on predefined rules and technical indicators. See Trading Bots for more information.
  • Speed: Execute trades much faster than a human can manually. This is crucial for arbitrage opportunities and reacting to fast-moving markets.
  • Customization: Build tools tailored to your specific needs, such as portfolio trackers, risk management systems, and charting tools.
  • Scalability: Manage large order sizes or multiple accounts efficiently.
  • Backtesting: Test your strategies using historical data before risking real capital. Explore Backtesting Strategies for deeper insight.

Accessing the Deribit API Documentation

The official Deribit API documentation is available at [[1]]. This is your primary resource for understanding all the available endpoints, parameters, and data structures. The documentation is generally well-organized and includes examples in various programming languages. Familiarizing yourself with its structure is the first step.

API Authentication

Before you can start using the Deribit API, you need to authenticate your application. Deribit uses API keys for this purpose.

1. API Key Generation: Log in to your Deribit account and navigate to the API Management section. Here, you can generate a new API key. It's crucial to understand the different permission levels available when creating your key. 2. Key Types: 

   *   Read-Only: Allows access to market data but does not allow trading.  Ideal for building charting tools or data analysis applications.
   *   Trade: Allows full access, including placing orders, modifying orders, and withdrawing funds.  Use this with extreme caution.
   *   Withdraw: Allows withdrawals, generally not recommended for automated trading applications.

3. API Secret: Along with the API key, you will receive an API secret. *Never* share your API secret with anyone. This is like the password to your account. 4. Authentication Method: Deribit uses HMAC authentication. This involves creating a signature based on your API key, secret, and the API request you are making. Most API libraries handle this process for you.

Core API Concepts

Understanding these core concepts is vital for navigating the Deribit API. 

   *   GET: Used to retrieve data.
   *   POST: Used to create new data (e.g., place an order).
   *   PUT: Used to update existing data (e.g., modify an order).
   *   DELETE: Used to delete data (e.g., cancel an order).
  • Parameters: Endpoints often require parameters to specify what data you want or how you want to perform an action. These parameters are passed in the request body (for POST, PUT, DELETE) or as query parameters in the URL (for GET).
  • JSON Format: The Deribit API primarily uses JSON (JavaScript Object Notation) for data exchange. You'll need to be comfortable working with JSON data in your programming language. See JSON Basics for more information.
  • Instruments: These represent the tradable assets on Deribit, such as BTC-PERPETUAL, ETH-DEC30. Understanding instrument naming conventions is important. See Deribit Instruments for details.

Common API Endpoints

Here are some commonly used API endpoints for beginners:

Common Deribit API Endpoints
Endpoint | Description | Method | `/api/v2/public/get_instruments` | Retrieves a list of all available instruments. | GET | `/api/v2/public/get_orderbook` | Retrieves the order book for a specific instrument. | GET | `/api/v2/public/get_trades` | Retrieves recent trades for a specific instrument. | GET | `/api/v2/public/get_historical_rates` | Retrieves historical price data for a specific instrument. | GET | `/api/v2/private/get_positions` | Retrieves your current open positions. | GET | `/api/v2/private/place_order` | Places a new order. | POST | `/api/v2/private/cancel_order` | Cancels an existing order. | POST | `/api/v2/private/get_orders` | Retrieves your open and historical orders. | GET | `/api/v2/private/get_account` | Retrieves your account information. | GET | `/api/v2/private/withdraw` | Initiates a withdrawal. | POST |

Placing an Order

Placing an order is one of the most important functions you'll use with the API. The `/api/v2/private/place_order` endpoint is used for this.

Here's a breakdown of the key parameters:

  • instrument_name: The name of the instrument you want to trade (e.g., "BTC-PERPETUAL").
  • side: "buy" or "sell".
  • type: The order type. Common options include:
   *   market: Executes the order immediately at the best available price.
   *   limit: Executes the order only at the specified price or better.
   *   stop_market: Executes a market order when the price reaches a specified stop price.
   *   stop_limit: Executes a limit order when the price reaches a specified stop price.
  • quantity: The amount of the instrument you want to trade.
  • price: (Required for limit and stop_limit orders) The price at which you want to execute the order.
  • time_in_force: Determines how long the order remains active. Common options include:
   *   good_til_cancelled (gtc): The order remains active until it is filled or cancelled.
   *   fill_or_kill (fok): The order must be filled immediately and completely, or it is cancelled.
   *   immediate_or_cancel (ioc): The order is executed immediately for as much quantity as possible, and any remaining quantity is cancelled.

Example (Python using the `requests` library - simplified):

```python import requests import json

api_key = "YOUR_API_KEY" api_secret = "YOUR_API_SECRET"

url = "https://api.deribit.com/api/v2/private/place_order"

headers = { 

   "Content-Type": "application/json",
   "X-Deribit-Api-Key": api_key

}

data = { 

   "instrument_name": "BTC-PERPETUAL",
   "side": "buy",
   "type": "market",
   "quantity": 1

}

  1. In a real implementation, you would generate the signature here using HMAC
  2. This is a placeholder for demonstration purposes
  3. signature = generate_hmac_signature(api_secret, json.dumps(data))
  4. headers["X-Deribit-Sign"] = signature

response = requests.post(url, headers=headers, data=json.dumps(data))

print(response.json()) ```

    • Important:** Remember to implement proper HMAC signature generation for security. Refer to the Deribit API documentation for details on signature creation. Also, error handling is crucial; always check the response from the API for errors before proceeding.

Handling API Responses

The Deribit API returns responses in JSON format. These responses typically include:

  • status: Indicates whether the request was successful ("OK") or failed.
  • result: Contains the data you requested (e.g., order details, market data).
  • error: If the request failed, this field will contain an error message.

Always check the `status` field to ensure the request was successful. If there is an error, examine the `error` field to understand what went wrong. Common errors include invalid API key, insufficient funds, or invalid parameters. See Error Handling in API Trading for more advanced techniques.

Rate Limits

Deribit enforces rate limits to prevent abuse and ensure fair access to the API. Rate limits restrict the number of requests you can make within a specific timeframe.

  • Public Endpoints: Generally have higher rate limits than private endpoints.
  • Private Endpoints: Rate limits are typically lower for private endpoints, as they involve trading activity.

You can find the current rate limit information in the API documentation. If you exceed the rate limit, the API will return an error. Implement rate limiting logic in your application to avoid exceeding the limits. Consider using techniques like exponential backoff to retry requests after a delay. Rate Limiting Strategies provides more details.

Using API Libraries

Several API libraries are available for various programming languages, simplifying the process of interacting with the Deribit API. These libraries handle authentication, request formatting, and response parsing for you. Some popular options include:

Using an API library can significantly reduce the amount of code you need to write and make your application more robust.

Further Learning and Resources


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