Bybit USDT Perpetual API Guide

The Bybit USDT Perpetual API is a powerful tool for traders and developers looking to interact programmatically with the Bybit exchange's USDT Perpetual contracts. This guide provides a comprehensive overview of the API, including its key features, endpoints, and practical usage examples.

1. Introduction

Bybit is a leading cryptocurrency exchange that offers derivatives trading. The USDT Perpetual contract allows users to trade perpetual futures contracts settled in USDT. The API enables automated trading, real-time data retrieval, and order management.

2. API Key Concepts

API Key: A unique identifier used to authenticate requests to the Bybit API. It includes a Public Key and Private Key.

Endpoint: A URL used to access a specific function of the API.

Rate Limit: The number of API requests allowed per minute/hour to prevent abuse.

3. Authentication

To access the Bybit USDT Perpetual API, you need to authenticate your requests using API keys. Follow these steps:

1. Generate API Key: Log in to Bybit, navigate to the API Management section, and create a new API key. Set appropriate permissions for your use case.

2. Sign Requests: Use your Private Key to sign requests. The signature is generated using HMAC-SHA256 hashing.

Example:

python
import time
import hmac
import hashlib
import requests

api_key = 'YOUR_API_KEY'
api_secret = 'YOUR_API_SECRET'
timestamp = str(int(time.time() * 1000))
params = {
    'api_key': api_key,
    'timestamp': timestamp,
    'symbol': 'BTCUSDT'
}
sorted_params = '&'.join([f'{k}={v}' for k, v in sorted(params.items())])
sign = hmac.new(api_secret.encode(), sorted_params.encode(), hashlib.sha256).hexdigest()
params['sign'] = sign

response = requests.get('https://api.bybit.com/v2/public/orderBook/L2', params=params)
print(response.json())

4. API Endpoints

The Bybit USDT Perpetual API consists of various endpoints to interact with market data, orders, and account information. Here’s a summary:

4.1. Market Data Endpoints

• Order Book: /v2/public/orderBook/L2
• Recent Trades: /v2/public/trading-records
• K-Line/Candlestick Data: /v2/public/kline/list

Example:

python
response = requests.get('https://api.bybit.com/v2/public/orderBook/L2', params={'symbol': 'BTCUSDT'})
print(response.json())

4.2. Trading Endpoints

• Place Order: /v2/private/order/create
• Order Status: /v2/private/order/list
• Cancel Order: /v2/private/order/cancel

Example:

python
response = requests.post('https://api.bybit.com/v2/private/order/create', params=params, data={
    'symbol': 'BTCUSDT',
    'side': 'Buy',
    'order_type': 'Limit',
    'price': 30000,
    'qty': 1,
    'time_in_force': 'GoodTillCancel'
})
print(response.json())

4.3. Account Endpoints

• Account Info: /v2/private/account
• Position Info: /v2/private/position/list

Example:

python
response = requests.get('https://api.bybit.com/v2/private/account', params=params)
print(response.json())

5. Rate Limits and Error Handling

Bybit imposes rate limits on API requests. Ensure you handle rate limit errors and implement retry logic if necessary. Here’s a general approach:

Example:

python
import time

def make_request(url, params):
    response = requests.get(url, params=params)
    if response.status_code == 429:  # Rate limit exceeded
        time.sleep(60)  # Sleep for a minute
        return make_request(url, params)
    return response.json()

6. WebSocket API

Bybit also offers a WebSocket API for real-time updates. Key channels include:

• Order Book: orderBookL2
• Trades: trade
• K-Line: kline

Example:

python
import websocket
import json

def on_message(ws, message):
    print(json.loads(message))

ws = websocket.WebSocketApp("wss://stream.bybit.com/realtime",
                            on_message=on_message)
ws.run_forever()

7. Practical Tips

• Use Libraries: Consider using official or community libraries for easier integration.
• Test in Sandbox: Use Bybit’s testnet for initial development and testing.
• Stay Updated: API documentation and rate limits can change; regularly check Bybit’s API documentation for updates.

8. Conclusion

The Bybit USDT Perpetual API is a robust tool for automating trading and accessing market data. With proper setup and error handling, it enables efficient and effective trading strategies.