[Binance] Algo orders API breaking changes

[KaizynX]

Bug Report

Confirmation

Before opening a bug report, please confirm:

• I’ve re-read the relevant sections of the documentation.
• I’ve searched existing issues and discussions to avoid duplicates.
• I’ve reviewed or skimmed the source code (or examples) to confirm the behavior is not by design.
• I’ve tested this issue using a recent development wheel (dev develop or a nightly) and can still reproduce it.

Checking a recent development wheel can save time because the issue may already have been fixed.
You can install a development wheel by running:

pip install -U nautilus_trader --pre --index-url https://packages.nautechsystems.io/simple

See the development-wheels section for more details.

Expected Behavior

When submitting a STOP_MARKET order (or other affected conditional order types) for USDⓈ-M Futures on Binance, the order should be successfully placed.

Actual Behavior

The order submission fails with a Binance API error code -4120. The error message states: 'Order type not supported for this endpoint. Please use the Algo Order API endpoints instead.'

This is a breaking change on the Binance side. As per their change log, effective 2025-12-09 (today), USDⓈ-M Futures have migrated conditional orders to a new Algo Service. The traditional endpoints (POST /fapi/v1/order, POST /fapi/v1/batchOrders) now block requests for the affected order types and return the -4120 error.

https://developers.binance.com/docs/derivatives/change-log#2025-11-06

Steps to Reproduce the Problem

1. Initialize a live trading node connected to Binance USDⓈ-M Futures.
2. Submit a STOP_MARKET order (or any of the other affected types) for a perpetual futures instrument.
3. Observe the order being rejected by the venue with error code -4120

Code Snippets or Logs

2025-12-09T08:43:17.749250915Z [INFO] LIVE-test_enhanced_strategy-1765269784-z8m9.0_test_enhanced_strategy: <--[EVT] OrderInitialized(instrument_id=DOTUSDT-PERP.BINANCE, client_order_id=O-20251209-084317-z8m9-000-1, side=SELL, type=STOP_MARKET, quantity=79.8, time_in_force=GTC, post_only=False, reduce_only=False, quote_quantity=False, options={'trigger_price': '1.960', 'trigger_type': 'DEFAULT', 'expire_time_ns': 0}, emulation_trigger=NO_TRIGGER, trigger_instrument_id=None, contingency_type=NO_CONTINGENCY, order_list_id=None, linked_order_ids=None, parent_order_id=None, exec_algorithm_id=None, exec_algorithm_params=None, exec_spawn_id=None, tags=None)
2025-12-09T08:43:17.749471828Z [INFO] LIVE-test_enhanced_strategy-1765269784-z8m9.TestEnhancedStrategy: [CMD]--> [Risk] SubmitOrder(order=StopMarketOrder(SELL 79.8 DOTUSDT-PERP.BINANCE STOP_MARKET @ 1.960[DEFAULT] GTC, status=INITIALIZED, client_order_id=O-20251209-084317-z8m9-000-1, venue_order_id=None, position_id=None, tags=None), position_id=None)
2025-12-09T08:43:17.749994637Z [INFO] LIVE-test_enhanced_strategy-1765269784-z8m9.ExecClient-BINANCE: Submit StopMarketOrder(SELL 79.8 DOTUSDT-PERP.BINANCE STOP_MARKET @ 1.960[DEFAULT] GTC, status=INITIALIZED, client_order_id=O-20251209-084317-z8m9-000-1, venue_order_id=None, position_id=None, tags=None)
2025-12-09T08:43:17.750915442Z [INFO] LIVE-test_enhanced_strategy-1765269784-z8m9.0_test_enhanced_strategy: <--[EVT] OrderSubmitted(instrument_id=DOTUSDT-PERP.BINANCE, client_order_id=O-20251209-084317-z8m9-000-1, account_id=BINANCE-USDT_FUTURES-master, ts_event=1765269797750320562)
2025-12-09T08:43:17.806654730Z [ERROR] LIVE-test_enhanced_strategy-1765269784-z8m9.ExecClient-BINANCE: Failed on submit_order ClientOrderId('O-20251209-084317-z8m9-000-1'): BinanceClientError({'code': -4120, 'msg': 'Order type not supported for this endpoint. Please use the Algo Order API endpoints instead.'})
2025-12-09T08:43:17.808367638Z [WARN] LIVE-test_enhanced_strategy-1765269784-z8m9.0_test_enhanced_strategy: <--[EVT] OrderRejected(instrument_id=DOTUSDT-PERP.BINANCE, client_order_id=O-20251209-084317-z8m9-000-1, account_id=BINANCE-USDT_FUTURES-master, reason='{'code': -4120, 'msg': 'Order type not supported for this endpoint. Please use the Algo Order API endpoints instead.'}', due_post_only=False, ts_event=1765269797806695281)

Specifications

• OS platform: Ubuntu 24.04
• Python version: 3.12
• nautilus_trader version: 1.221.0 and 1.222.0a20251123

[cgn00]

@KaizynX I'm getting the same problem that you have, and I haven't made any change in my code, and it worked until yesterday. Also, please could you share which VPS provider and on which location are you using to have that latency?

[cjdsellers]

Hi @KaizynX

Thanks for the detailed report on this.

Now fixed and available soon in development wheels. I also tested manually on the futures testnet and seemed fine.

Let me know if you experience any further issues!

[Vibrat]

Hi @cjdsellers,

Thanks for jumping in.

May I ask what causes this issue? I'm experiencing the same issue on different platform and would be interested in knowing how to resolve it.

[KaizynX]

Hi @cgn00
This is a Binance API change, not our fault.
I'm using a private server in Hong Kong. And I've heard that using AWS servers in Tokyo can achieve the low latency.

[KaizynX]

Hi @cjdsellers
I still can't use STOP_MARKET order properly. 😢 An error occurred when the order was triggered and filled.

Logs:

2025-12-11T05:31:31.965949776Z [INFO] LIVE-test_enhanced_strategy-1765430980-ZYWR.0_test_enhanced_strategy: <--[EVT] OrderInitialized(instrument_id=DOGEUSDT-PERP.BINANCE, client_order_id=O-20251211-053131-ZYWR-000-9, side=BUY, type=STOP_MARKET, quantity=38, time_in_force=GTC, post_only=False, reduce_only=False, quote_quantity=False, options={'trigger_price': '0.138550', 'trigger_type': 'DEFAULT', 'expire_time_ns': 0}, emulation_trigger=NO_TRIGGER, trigger_instrument_id=None, contingency_type=NO_CONTINGENCY, order_list_id=None, linked_order_ids=None, parent_order_id=None, exec_algorithm_id=None, exec_algorithm_params=None, exec_spawn_id=None, tags=None)
2025-12-11T05:31:31.966123499Z [INFO] LIVE-test_enhanced_strategy-1765430980-ZYWR.TestEnhancedStrategy: [CMD]--> [Risk] SubmitOrder(order=StopMarketOrder(BUY 38 DOGEUSDT-PERP.BINANCE STOP_MARKET @ 0.138550[DEFAULT] GTC, status=INITIALIZED, client_order_id=O-20251211-053131-ZYWR-000-9, venue_order_id=None, position_id=None, tags=None), position_id=None)
2025-12-11T05:31:31.968128229Z [INFO] LIVE-test_enhanced_strategy-1765430980-ZYWR.ExecClient-BINANCE: Submit StopMarketOrder(BUY 38 DOGEUSDT-PERP.BINANCE STOP_MARKET @ 0.138550[DEFAULT] GTC, status=INITIALIZED, client_order_id=O-20251211-053131-ZYWR-000-9, venue_order_id=None, position_id=None, tags=None)
2025-12-11T05:31:31.968666390Z [INFO] LIVE-test_enhanced_strategy-1765430980-ZYWR.0_test_enhanced_strategy: <--[EVT] OrderSubmitted(instrument_id=DOGEUSDT-PERP.BINANCE, client_order_id=O-20251211-053131-ZYWR-000-9, account_id=BINANCE-USDT_FUTURES-master, ts_event=1765431091968255432)
2025-12-11T05:31:32.029327929Z [INFO] LIVE-test_enhanced_strategy-1765430980-ZYWR.0_test_enhanced_strategy: <--[EVT] OrderAccepted(instrument_id=DOGEUSDT-PERP.BINANCE, client_order_id=O-20251211-053131-ZYWR-000-9, venue_order_id=1000000033225453, account_id=BINANCE-USDT_FUTURES-master, ts_event=1765431092012999936)
2025-12-11T05:31:37.036774324Z [ERROR] LIVE-test_enhanced_strategy-1765430980-ZYWR.ExecEngine: Error on applying OrderAccepted(trader_id=LIVE-test_enhanced_strategy-1765430980-ZYWR, strategy_id=0_test_enhanced_strategy-000, instrument_id=DOGEUSDT-PERP.BINANCE, client_order_id=O-20251211-053131-ZYWR-000-9, venue_order_id=88937381063, account_id=BINANCE-USDT_FUTURES-master, event_id=cfe56246-e4ae-430d-9578-fb6fe0e7cec5, ts_event=1765431097019000064, ts_init=1765431097034595661) to StopMarketOrder(BUY 38 DOGEUSDT-PERP.BINANCE STOP_MARKET @ 0.138550[DEFAULT] GTC, status=ACCEPTED, client_order_id=O-20251211-053131-ZYWR-000-9, venue_order_id=1000000033225453, position_id=None, tags=None)
ValueError('self.venue_order_id' <class 'nautilus_trader.model.identifiers.VenueOrderId'> of 1000000033225453 was not equal to 'event.venue_order_id' <class 'nautilus_trader.model.identifiers.VenueOrderId'> of 88937381063)
Traceback (most recent call last):
  File "nautilus_trader/execution/engine.pyx", line 1464, in nautilus_trader.execution.engine.ExecutionEngine._apply_event_to_order
  File "nautilus_trader/model/orders/base.pyx", line 1024, in nautilus_trader.model.orders.base.Order.apply
  File "nautilus_trader/core/correctness.pyx", line 305, in nautilus_trader.core.correctness.Condition.equal

2025-12-11T05:31:37.036849295Z [INFO] LIVE-test_enhanced_strategy-1765430980-ZYWR.0_test_enhanced_strategy: <--[EVT] OrderAccepted(instrument_id=DOGEUSDT-PERP.BINANCE, client_order_id=O-20251211-053131-ZYWR-000-9, venue_order_id=88937381063, account_id=BINANCE-USDT_FUTURES-master, ts_event=1765431097019000064)
2025-12-11T05:31:37.040584989Z [ERROR] LIVE-test_enhanced_strategy-1765430980-ZYWR.ExecClient-BINANCE: Error on handling b'{"stream":"QuwZkuPX0yPW7hN7l2UXUkq25xM0e5clh7Byeea1c6XzX5EoYvGok48HJ2FCbDur","data":{"e":"ALGO_UPDATE","T":1765431097019,"E":1765431097020,"o":{"caid":"O-20251211-053131-ZYWR-000-9","aid":1000000033225453,"at":"CONDITIONAL","o":"STOP_MARKET","s":"DOGEUSDT","S":"BUY","ps":"BOTH","f":"GTC","q":"38","X":"TRIGGERING","ai":"","tp":"0.13855","p":"0","V":"EXPIRE_MAKER","wt":"CONTRACT_PRICE","pm":"NONE","cp":false,"pP":false,"R":false,"tt":1765431097019,"gtd":0}}}'
ValidationError(Invalid enum value 'TRIGGERING' - at `$.data.o.X`)
Traceback (most recent call last):
  File "/home/kxzheng/miniconda3/envs/nautilus_dev/lib/python3.12/site-packages/nautilus_trader/adapters/binance/futures/execution.py", line 439, in _handle_user_ws_message
    self._futures_user_ws_handlers[wrapper.data.e](raw)
  File "/home/kxzheng/miniconda3/envs/nautilus_dev/lib/python3.12/site-packages/nautilus_trader/adapters/binance/futures/execution.py", line 472, in _handle_algo_update
    algo_update = self._decoder_futures_algo_update_wrapper.decode(raw)
                  ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

2025-12-11T05:31:37.040927356Z [ERROR] LIVE-test_enhanced_strategy-1765430980-ZYWR.ExecEngine: Error on applying OrderFilled(trader_id=LIVE-test_enhanced_strategy-1765430980-ZYWR, strategy_id=0_test_enhanced_strategy-000, instrument_id=DOGEUSDT-PERP.BINANCE, client_order_id=O-20251211-053131-ZYWR-000-9, venue_order_id=88937381063, account_id=BINANCE-USDT_FUTURES-master, trade_id=3140151795, position_id=DOGEUSDT-PERP.BINANCE-BOTH, order_side=BUY, order_type=MARKET, last_qty=38, last_px=0.138560 USDT, commission=0.00000272 BNB, liquidity_side=TAKER, event_id=24fb62fd-9991-4f56-9e58-5adff4511242, ts_event=1765431097019000064, ts_init=1765431097035169882) to StopMarketOrder(BUY 38 DOGEUSDT-PERP.BINANCE STOP_MARKET @ 0.138550[DEFAULT] GTC, status=ACCEPTED, client_order_id=O-20251211-053131-ZYWR-000-9, venue_order_id=1000000033225453, position_id=None, tags=None)
ValueError('self.venue_order_id' <class 'nautilus_trader.model.identifiers.VenueOrderId'> of 1000000033225453 was not equal to 'event.venue_order_id' <class 'nautilus_trader.model.identifiers.VenueOrderId'> of 88937381063)
Traceback (most recent call last):
  File "nautilus_trader/execution/engine.pyx", line 1464, in nautilus_trader.execution.engine.ExecutionEngine._apply_event_to_order
  File "nautilus_trader/model/orders/base.pyx", line 1024, in nautilus_trader.model.orders.base.Order.apply
  File "nautilus_trader/core/correctness.pyx", line 305, in nautilus_trader.core.correctness.Condition.equal

2025-12-11T05:31:37.051891773Z [ERROR] LIVE-test_enhanced_strategy-1765430980-ZYWR.ExecClient-BINANCE: Error on handling b'{"stream":"QuwZkuPX0yPW7hN7l2UXUkq25xM0e5clh7Byeea1c6XzX5EoYvGok48HJ2FCbDur","data":{"e":"ALGO_UPDATE","T":1765431097030,"E":1765431097037,"o":{"caid":"O-20251211-053131-ZYWR-000-9","aid":1000000033225453,"at":"CONDITIONAL","o":"STOP_MARKET","s":"DOGEUSDT","S":"BUY","ps":"BOTH","f":"GTC","q":"38","X":"TRIGGERED","ai":"88937381063","ap":"0","aq":"0","act":"MARKET","tp":"0.13855","p":"0","V":"EXPIRE_MAKER","wt":"CONTRACT_PRICE","pm":"NONE","cp":false,"pP":false,"R":false,"tt":1765431097019,"gtd":0}}}'
ValidationError(Invalid enum value 'TRIGGERED' - at `$.data.o.X`)
Traceback (most recent call last):
  File "/home/kxzheng/miniconda3/envs/nautilus_dev/lib/python3.12/site-packages/nautilus_trader/adapters/binance/futures/execution.py", line 439, in _handle_user_ws_message
    self._futures_user_ws_handlers[wrapper.data.e](raw)
  File "/home/kxzheng/miniconda3/envs/nautilus_dev/lib/python3.12/site-packages/nautilus_trader/adapters/binance/futures/execution.py", line 472, in _handle_algo_update
    algo_update = self._decoder_futures_algo_update_wrapper.decode(raw)
                  ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

2025-12-11T05:31:37.052222049Z [ERROR] LIVE-test_enhanced_strategy-1765430980-ZYWR.ExecClient-BINANCE: Error on handling b'{"stream":"QuwZkuPX0yPW7hN7l2UXUkq25xM0e5clh7Byeea1c6XzX5EoYvGok48HJ2FCbDur","data":{"e":"ALGO_UPDATE","T":1765431097031,"E":1765431097037,"o":{"caid":"O-20251211-053131-ZYWR-000-9","aid":1000000033225453,"at":"CONDITIONAL","o":"STOP_MARKET","s":"DOGEUSDT","S":"BUY","ps":"BOTH","f":"GTC","q":"38","X":"FINISHED","ai":"88937381063","ap":"0.13856","aq":"38","act":"MARKET","tp":"0.13855","p":"0","V":"EXPIRE_MAKER","wt":"CONTRACT_PRICE","pm":"NONE","cp":false,"pP":false,"R":false,"tt":1765431097019,"gtd":0}}}'
ValidationError(Invalid enum value 'FINISHED' - at `$.data.o.X`)
Traceback (most recent call last):
  File "/home/kxzheng/miniconda3/envs/nautilus_dev/lib/python3.12/site-packages/nautilus_trader/adapters/binance/futures/execution.py", line 439, in _handle_user_ws_message
    self._futures_user_ws_handlers[wrapper.data.e](raw)
  File "/home/kxzheng/miniconda3/envs/nautilus_dev/lib/python3.12/site-packages/nautilus_trader/adapters/binance/futures/execution.py", line 472, in _handle_algo_update
    algo_update = self._decoder_futures_algo_update_wrapper.decode(raw)
                  ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Specifications:

• nautilus_trader version: 1.222.0a20251210