# Binance.US OTC Trading Guide
This guide covers Over-The-Counter (OTC) trading functionality in the Binance.US MCP Server.
## Overview
OTC trading allows institutional clients to execute large block trades at negotiated prices, avoiding the slippage that would occur from placing large orders on the order book.
## Benefits of OTC Trading
| Feature | Order Book | OTC |
|---------|------------|-----|
| Slippage | Yes, on large orders | No, fixed quote |
| Price Impact | Moves market | No market impact |
| Visibility | Public | Private |
| Min Size | No minimum | Large minimums |
| Execution | Partial fills possible | All-or-nothing |
## Available Tools
| Tool | Description |
|------|-------------|
| `binance_us_otc_coin_pairs` | Get available OTC trading pairs |
| `binance_us_otc_quote` | Request a price quote |
| `binance_us_otc_place_order` | Execute a quoted trade |
| `binance_us_otc_get_order` | Get order details |
| `binance_us_otc_all_orders` | List all OTC orders |
| `binance_us_ocbs_orders` | Get OCBS (block settlement) orders |
## Trading Workflow
### Step 1: Check Available Pairs
```
Tool: binance_us_otc_coin_pairs
Parameters: none
```
Response:
```json
{
"data": [
{
"fromCoin": "BTC",
"toCoin": "USD",
"fromCoinMinAmount": "0.5",
"fromCoinMaxAmount": "500",
"toCoinMinAmount": "25000",
"toCoinMaxAmount": "25000000"
},
{
"fromCoin": "USD",
"toCoin": "BTC",
"fromCoinMinAmount": "25000",
"fromCoinMaxAmount": "25000000",
"toCoinMinAmount": "0.5",
"toCoinMaxAmount": "500"
},
{
"fromCoin": "ETH",
"toCoin": "USD",
"fromCoinMinAmount": "5",
"fromCoinMaxAmount": "5000",
"toCoinMinAmount": "10000",
"toCoinMaxAmount": "15000000"
}
]
}
```
### Step 2: Request a Quote
```
Tool: binance_us_otc_quote
Parameters:
{
"fromCoin": "BTC",
"toCoin": "USD",
"requestCoin": "BTC",
"requestAmount": "10"
}
```
Response:
```json
{
"quoteId": "quote_abc123xyz",
"fromCoin": "BTC",
"toCoin": "USD",
"fromAmount": "10.00000000",
"toAmount": "450000.00",
"ratio": "45000.00000000",
"inverseRatio": "0.00002222",
"validTimestamp": 1706000010000
}
```
**Understanding the Quote:**
- `quoteId`: Unique ID to execute this trade (valid for ~10 seconds)
- `fromCoin`: Asset you're selling
- `toCoin`: Asset you're receiving
- `fromAmount`: Amount you'll sell
- `toAmount`: Amount you'll receive
- `ratio`: Price (1 BTC = 45,000 USD)
- `validTimestamp`: Quote expiration (typically 10 seconds)
### Step 3: Execute the Trade
```
Tool: binance_us_otc_place_order
Parameters:
{
"quoteId": "quote_abc123xyz"
}
```
Response:
```json
{
"orderId": "otc_order_789",
"quoteId": "quote_abc123xyz",
"fromCoin": "BTC",
"toCoin": "USD",
"fromAmount": "10.00000000",
"toAmount": "450000.00",
"ratio": "45000.00000000",
"status": "FILLED",
"createTime": 1706000005000,
"fillTime": 1706000005500
}
```
### Step 4: Verify Order
```
Tool: binance_us_otc_get_order
Parameters:
{
"orderId": "otc_order_789"
}
```
## Quote Flow Diagram
```
┌─────────────┐ Request Quote ┌─────────────┐
│ Client │ ──────────────────▶ │ Binance.US │
│ │ │ OTC │
│ │ ◀────────────────── │ │
│ │ Quote (10s valid) │ │
│ │ │ │
│ │ Execute Quote │ │
│ │ ──────────────────▶ │ │
│ │ │ │
│ │ ◀────────────────── │ │
│ │ Confirmation │ │
└─────────────┘ └─────────────┘
```
## Request Coin Parameter
The `requestCoin` parameter determines which side of the trade you're specifying:
**Selling BTC for USD (request by BTC amount):**
```json
{
"fromCoin": "BTC",
"toCoin": "USD",
"requestCoin": "BTC",
"requestAmount": "10"
}
```
Result: "I want to sell exactly 10 BTC, how much USD will I get?"
**Selling BTC for USD (request by USD amount):**
```json
{
"fromCoin": "BTC",
"toCoin": "USD",
"requestCoin": "USD",
"requestAmount": "500000"
}
```
Result: "I want to receive exactly 500,000 USD, how much BTC will I sell?"
## Order History
### Get All Orders
```
Tool: binance_us_otc_all_orders
Parameters:
{
"startTime": 1705900000000,
"endTime": 1706000000000,
"limit": 50
}
```
Response:
```json
{
"data": [
{
"orderId": "otc_order_789",
"fromCoin": "BTC",
"toCoin": "USD",
"fromAmount": "10.00000000",
"toAmount": "450000.00",
"ratio": "45000.00000000",
"status": "FILLED",
"createTime": 1706000005000
},
{
"orderId": "otc_order_788",
"fromCoin": "ETH",
"toCoin": "USD",
"fromAmount": "100.00000000",
"toAmount": "220000.00",
"ratio": "2200.00000000",
"status": "FILLED",
"createTime": 1705950000000
}
]
}
```
### Get Specific Order
```
Tool: binance_us_otc_get_order
Parameters:
{
"orderId": "otc_order_789"
}
```
## OCBS Orders (Block Settlement)
OCBS (OTC Block Settlement) is for large pre-negotiated trades:
```
Tool: binance_us_ocbs_orders
Parameters:
{
"startTime": 1705900000000,
"endTime": 1706000000000,
"limit": 20
}
```
Response:
```json
{
"data": [
{
"orderId": "ocbs_001",
"quoteId": "block_quote_xyz",
"fromCoin": "BTC",
"toCoin": "USD",
"fromAmount": "100.00000000",
"toAmount": "4500000.00",
"ratio": "45000.00000000",
"status": "FILLED",
"createTime": 1706000000000
}
]
}
```
## Order Statuses
| Status | Description |
|--------|-------------|
| `PENDING` | Order submitted, awaiting execution |
| `FILLED` | Order fully executed |
| `EXPIRED` | Quote expired before execution |
| `FAILED` | Execution failed (insufficient balance, etc.) |
| `REJECTED` | Order rejected by system |
## Best Practices
### 1. Pre-check Balances
Ensure you have sufficient balance before requesting a quote:
```
Tool: binance_us_custodian_balance
or
Tool: binance_us_account
```
### 2. Act Quickly on Quotes
Quotes are typically valid for only 10 seconds. Have your execution logic ready.
### 3. Handle Quote Expiration
```python
# Pseudocode
quote = get_quote()
if current_time < quote.validTimestamp:
execute_order(quote.quoteId)
else:
# Request new quote
quote = get_quote()
```
### 4. Verify Execution
Always confirm the order was filled:
```
Tool: binance_us_otc_get_order
```
### 5. Log Everything
OTC trades are large - maintain detailed logs for reconciliation:
- Quote ID and timestamp
- Order ID and status
- Expected vs actual amounts
- Any errors or retry attempts
## Error Handling
### Common Errors
| Error Code | Message | Solution |
|------------|---------|----------|
| -5001 | Quote expired | Request a new quote |
| -5002 | Insufficient balance | Check and fund your account |
| -5003 | Invalid quote ID | Ensure quote ID is correct and not expired |
| -5004 | Amount out of range | Check min/max amounts for the pair |
| -5005 | Pair not available | Verify pair is in available list |
### Retry Strategy
```
1. Request quote
2. If quote expired on execution:
- Wait 1 second
- Request new quote
- Retry execution
3. If still failing after 3 attempts:
- Log error
- Alert operations team
```
## Size Limits
OTC is designed for large trades. Typical minimums:
| Pair | Minimum |
|------|---------|
| BTC/USD | 0.5 BTC or $25,000 |
| ETH/USD | 5 ETH or $10,000 |
| Other | Varies by liquidity |
For smaller trades, use the regular order book via trading tools.
## OTC vs Regular Trading
Use OTC when:
- Trade size > 1% of average daily volume
- You need price certainty
- You want to avoid market impact
- Trade is time-sensitive
Use regular trading when:
- Smaller position sizes
- You want to capture favorable price movements
- You're comfortable with partial fills
