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Ethereum API Error: Exceeding Maximum Borrow Amount

Ethereum’s API provides a robust system for managing borrowing and margin trading. However, it seems like there was an error encountered while executing the code. In this article, we will delve into the details of the error and explore ways to resolve it.

The Error: APIError(code=-3006)

The error -3006 indicates that there is a problem with your borrowing amount exceeding the maximum allowed amount. This can occur due to various reasons such as insufficient funds or incorrect parameters being passed to the API. The exact cause of this error may vary depending on the specific scenario.

Understanding the Borrow Amount

In Ethereum’s API, borrowing and margin trading involve managing your available funds against the total value of assets you want to borrow or lend. The maximum borrowed amount is set by the network, which ensures that there are sufficient funds available for transactions. If this limit is exceeded, the API will throw an error.

Resolving the Error

To resolve this error, we need to ensure that our parameters are correct and within the allowed limits. Here are some steps you can take:

• Verify Your Available Funds: Make sure you have sufficient funds available for borrowing or margin trading.

• Check the API Parameters: Ensure that the amount parameter in your request is within the allowed range (e.g., 1000 BTC to 20000 BTC).

• Adjust Your Strategy: If you have exceeded your maximum borrowing amount, consider adjusting your strategy to reduce the risk or delay further borrowing.

Code Example: Resolving the Error

Here’s an example of how we can modify our code to resolve the API error:

import requests











Replace with your API credentials and other settings

client = requests.client()


def get_isolated_margin_account(symbol):

    
Make a GET request to the API

    info = client.get(f'


    try:

        
Parse the response data

        balance = float(info['balance'])


        
Calculate the total assets of BTC

        totalAssetOfBtc = balance / 10**8


        precision = 5

        order = ...


        return info, totalAssetOfBtc, precision

    except requests.exceptions.HTTPError as http_err:

        print(f'HTTP error occurred: {http_err}')

    except ValueError as err_val:

        print(f'Value error occurred: {err_val}')



Replace with your API credentials and other settings

info, total_asset_of_btc, precision = get_isolated_margin_account('BTCUSDT')


if info['totalAssetOfBtc'] > 20000 or (info['balance'] / 10**8) > 1000:

    print("Error: Exceeding maximum borrow amount.")

else:

    
Proceed with your strategy

    order = ...

In this example, we first make a GET request to the API to retrieve information about the specified symbol. We then parse the response data and calculate the total asset of BTC. Finally, we check if the total asset exceeds 20000 BTC or if the balance exceeds 1000 BTC. If either condition is met, we print an error message and do not proceed with further borrowing or trading.

By following these steps and taking necessary precautions, you should be able to resolve the API error and successfully manage your borrowed amounts in Ethereum’s API.

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