Market Orders - insufficient funds?

[cheriff]

So I used the API to buy some BCH:
{"currency":"AUD","instrument":"BCH","price":1,"volume":2026972,"orderSide":"Bid","ordertype":"Market","clientRequestId":"test"}
And eventually I saw that get Placed and then Fully Placed. So far so good.

---

Later I wanted to sell that BCH for BTC:
{"currency":"BTC","instrument":"BCH","price":1,"volume":2026972,"orderSide":"Ask","ordertype":"Market","clientRequestId":"test2"}

Yet this fails: {"success":false,"errorCode":3,"errorMessage":"Insufficient funds.", "id":0, "clientRequestId":"test2"}

But I do have funds, and it's not some rounding error on my side: Both the webpage says so, as does the account api: {"balance":2026972,"pendingFunds":0,"currency":"BCH"} so I should be able to sell 2026972 (/ 100000000.0) BCH, no?

---

Is the error message not correct and it's something unrelated to balance?
What am I missing

[cheriff]

Actually, could this be a timing thing? I wait for the prior order to be FullyMatched before proceeding, and so assume that the balance is available for immediate re-spend.

But is it possible that the order status says matched, but the balance isn't yet visible for a new order to make use of?
I.e if I put a small sleep after seeing the previous order be matched, could that help? And if so, does that mean that the API isn't self-consistent, in that a trade has matched but the proceeds are not yet available?

[mattwithoos]

Yes, we encounted the same problem in our app, where a withdrawal would occur immediately after purchase and we'd get that error. Basically it's a result of BTCMarkets not being ready to give you those funds. We found that reversing the order of things gave BTCMarkets enough time.

[cheriff]

Thanks for sharing your experience.
I guess next up I'll try polling the balance endpoint after the order matched, until it gets credited, and see if that API agrees with whether a new order will be able to access said balance.

[cheriff]

OK, so it's not that. I've had a few LTC credited for weeks now, and the account API shows 22110844 LTC available.

I now post an order (that will never get filled due to outrageous price, but should still rest on the book):

# ./trades sell 0.22110844 LTC --btc 1.0
Request:
{ "currency":"BTC","instrument":"LTC","price":100000000, 
  "volume":22110844,"orderSide":"Ask","ordertype":"Limit","clientRequestId":"nop"}
Response:
{ "success":false,"errorCode":3,"errorMessage":"Insufficient funds.",
  "id":0,"clientRequestId":"nop"}

So it's not time related.

---

Doing the same thing via the web seems to work differently:

If I click to sell "all" my 0.22110844 LTC, it pre-fills the field as selling 0.22062306 LTC.
If I set a price of 1 BTC the expected receive is 0.22013768, i.e 99.78% what is sold, taking into account the fee. The order is then placed:

$ ./trades detail 1057414274
Request:
{"orderIds":[1057414274]}
Response:
{"success":true,"errorCode":null,"errorMessage":null, 
 "orders":[{ 
   "id":1057414274, "currency":"BTC", "instrument":"LTC", "orderSide":"Ask",
   "ordertype":"Limit",
   "creationTime":1514667576992,"status":"Placed",
   "errorMessage":null, "price":100000000, "volume":22062306, "openVolume":22062306, 
   "clientRequestId":null,"trades":[]}]}

Presumably would this match, I would still be left with 0.22110844 - 0.22062306 =0.0004853799999999797 LTC. Which is 0.22% of what I tried to trade for BTC. It looks like the fee is factored in twice: once when determining how much I can see, and again when calculating what I will receive for it. I assume only the latter is acted upon, resulting in an inability to ever trade all my LTC for BTC.

So, this appears to be a dup of #81.

[cheriff]

yeah - if I have some amount of LTC, I can only sell 99.78% of that, since the fee is taken on top of what is specified in the order and I need to be able to cover it.

I had expected to be able to sell all my LTC, and simply receive 0.22% less BTC, which seems would have made sense since that what happens when you sell LTC for AUD ...