Binance COIN-M Trading Bot in Python

This guide shows how to build a Binance COIN-M trading bot in Python with LumiBot, for both AI agent trading and algorithmic trading. LumiBot connects to Binance COIN-M through CCXT, the open source library that talks to more than 100 crypto exchanges. You will create a Binance COIN-M account and API key, connect it, and run two examples: a simple algorithmic trading bot and an agentic trading bot where an AI agent makes the calls.

Binance COIN-M at a glance

CCXT exchange id

binancecoinm

Markets

Perpetual swaps, Dated futures

Testnet (sandbox)

Yes

Credentials

API key, API secret

Live data streams

prices, order book, trades, candles, your orders, your balance, your positions

CCXT request spacing

about 50 ms between requests

Official site

https://www.binance.com

API docs

https://binance-docs.github.io/apidocs/delivery/en/

Fees

https://www.binance.com/en/fee/schedule

What is Binance COIN-M?

Binance COIN-M is the coin-margined futures side of Binance. Contracts are priced in USD but margined and settled in the coin itself (for example BTC), and Binance offers both perpetual and dated delivery contracts.

Sign up for Binance COIN-M

  1. Create a Binance account and finish identity verification.

  2. Turn on two-factor authentication and make a deposit of any amount to your Spot Wallet. Binance requires all three before you can create an API key.

  3. Open your Futures account before you create the API key. A key made before the Futures account exists cannot get the Futures permission.

Open a Binance COIN-M account

Create a Binance COIN-M API key

  1. Log in, click the profile icon and choose Account.

  2. Go to API Management and click Create API.

  3. Choose System-generated (you get an API key and a Secret Key). Self-generated Ed25519 or RSA keys are the other option.

  4. Enter a label for the key and confirm with your two-factor devices or passkey.

  5. Edit the key restrictions: limit access to the IP address of your bot, then turn on the permissions below. Save the Secret Key right away.

Which permissions to turn on: Turn on Enable Reading and the Futures permission. Binance only allows permissions beyond reading when the key is limited to trusted IP addresses (or uses a self-generated key), so add your bot’s IP first. Leave withdrawals off. A bot never needs to move money out of your account.

Warning

Never turn on withdrawals for a Binance COIN-M trading bot key. Bind the key to your server’s IP address when Binance COIN-M lets you, keep the secret out of your code and out of Git, and delete the key if it ever leaks.

Connect Binance COIN-M to LumiBot

The simplest way: put these lines in a .env file next to your strategy. LumiBot loads the file, sees TRADING_BROKER=binancecoinm and connects to Binance COIN-M for you, so your strategy needs no broker code.

TRADING_BROKER=binancecoinm
BINANCECOINM_API_KEY=your_apiKey
BINANCECOINM_API_SECRET=your_secret
BINANCECOINM_SANDBOX=true   # testnet; remove this line for your live account

LumiBot reads exactly the fields CCXT needs for Binance COIN-M (apiKey, secret). If one is missing, LumiBot stops at start-up and names the variable you still need.

You can also build the broker in code. This is handy when one script talks to more than one exchange, or when you need extra CCXT options. The keys in the config are CCXT’s own credential names for Binance COIN-M:

import os

BINANCECOINM_CONFIG = {
    "exchange_id": "binancecoinm",
    "apiKey": os.environ.get("BINANCECOINM_API_KEY"),
    "secret": os.environ.get("BINANCECOINM_API_SECRET"),
    "sandbox": True,  # testnet first; set False for your live account
}

from lumibot.brokers import Ccxt

broker = Ccxt(BINANCECOINM_CONFIG)
# then: MyStrategy(broker=broker, ...)

Either way, LumiBot turns on CCXT’s built-in rate limiting for you.

Practice on the Binance COIN-M testnet

Binance runs Futures Demo Trading at https://demo.binance.com with its own Demo Trading API keys. Binance says the futures testnet is only available through the API. Set BINANCECOINM_SANDBOX=true (or "sandbox": True in a code config) to use it.

CCXT sends sandbox requests to: https://testnet.binancefuture.com/dapi/v1, https://testnet.binancefuture.com/dapi/v2. Testnet and live accounts use different keys.

Algorithmic trading example: a simple Binance COIN-M bot

CCXT lists no spot market for Binance COIN-M, so this example trades a perpetual contract. It opens one small long BTC position worth about 100 USD and then holds it. It is a starting point to check that your keys, balances and orders work. If the exchange’s minimum order is larger, raise the amount. If your account uses hedge mode, add position_side="long" to create_order.

from lumibot.entities import Asset
from lumibot.strategies import Strategy


class BinancecoinmOpenOneLong(Strategy):
    """Open one small long BTC perpetual position, then hold it."""

    def initialize(self):
        self.sleeptime = "1H"
        self.set_market("24/7")  # crypto trades all day, every day

    def on_trading_iteration(self):
        # The full CCXT symbol keeps the settlement currency clear.
        contract = self.broker.get_asset("BTC/USD:BTC")
        if self.get_position(contract) is not None:
            return  # already holding the position
        price = self.get_last_price(contract)
        if price:
            # Inverse contract: each contract is worth contract.multiplier USD.
            quantity = max(1, round(100 / contract.multiplier))
            order = self.create_order(contract, quantity, "buy")
            self.submit_order(order)


if __name__ == "__main__":
    # LumiBot reads TRADING_BROKER and the keys from your .env file.
    strategy = BinancecoinmOpenOneLong(quote_asset=Asset("USD", asset_type=Asset.AssetType.CRYPTO))
    strategy.run_live()

Agentic trading example: an AI agent that trades on Binance COIN-M

Agentic trading means an AI agent reads the market and decides what to do. In this example one LumiBot agent looks at prices and your Binance COIN-M account, then places the orders itself. There is no Python logic in between: you set the rules in plain English in the prompt, such as what it may trade and how big each order can be. This follows the same pattern as LumiBot’s AI trading team examples.

from lumibot.entities import Asset
from lumibot.strategies import Strategy


class BinancecoinmAITrader(Strategy):
    """One AI agent researches the market and places the trades itself."""

    def initialize(self):
        self.sleeptime = "4H"
        self.set_market("24/7")
        self.agents.create(
            name="trader",
            model="openai/gpt-6-luna",
            reasoning_effort="high",
            allow_trading=True,
            system_prompt=(
                "You manage a small crypto account on Binance COIN-M. "
                "You may trade the BTC/USD:BTC perpetual contract (asset_type 'crypto_future'), long or short, or stay flat. "
                "Before every order, call account_portfolio, account_positions and "
                "market_last_price for that exact symbol in the same run. "
                "Keep each order under 10% of the account value. "
                "Explain each decision in one short paragraph."
            ),
        )

    def on_trading_iteration(self):
        self.agents["trader"].run(
            task_prompt="Review recent BTC/USD:BTC prices and your current position, then decide whether to buy, sell or hold.",
            context={"exchange": "Binance COIN-M", "quote": "USD", "date": self.get_datetime().isoformat()},
        )


if __name__ == "__main__":
    # LumiBot reads TRADING_BROKER and the keys from your .env file.
    strategy = BinancecoinmAITrader(quote_asset=Asset("USD", asset_type=Asset.AssetType.CRYPTO))
    strategy.run_live()

The agent needs a model key such as OPENAI_API_KEY in your environment. See the AI agents quickstart for models, tools and memory.

What you can trade on Binance COIN-M through CCXT

Market

Listed by CCXT

Spot

No

Margin

No

Perpetual swaps

Yes

Dated futures

Yes

Options

Not listed by CCXT

CCXT lists these order features for Binance COIN-M: market orders, limit orders, stop orders, stop-loss orders, take-profit orders, reduce-only orders, editing open orders, canceling orders.

For perpetual contracts, use the full CCXT symbol so the settlement currency is clear, for example BTC/USD:BTC. See the CCXT guide for contract quantities, position modes and leverage.

Binance COIN-M tips

  • COIN-M symbols use the full CCXT form BTC/USD:BTC for the perpetual. Dated contracts add the expiry, for example BTC/USD:BTC-261225.

  • One BTC COIN-M contract is worth 100 USD, so the smallest order is one contract (about 100 USD), not 50. Your margin is held in BTC, so its dollar value moves with the BTC price.

  • Binance has three CCXT ids: binance for spot, binanceusdm for USDT-margined futures and binancecoinm for coin-margined futures. Pick binancecoinm for this page.

  • If you use Portfolio Margin, Binance says the API key cannot get the Futures permission.

Frequently asked questions

Can I build a Binance COIN-M trading bot in Python?

Yes. Install LumiBot (pip install lumibot), set your Binance COIN-M keys and use the binancecoinm CCXT exchange id as shown above.

Does Binance COIN-M have a testnet?

Yes. Set BINANCECOINM_SANDBOX=true and use keys from the Binance COIN-M testnet.

Which API permissions does a Binance COIN-M bot need?

Turn on Enable Reading and the Futures permission. Binance only allows permissions beyond reading when the key is limited to trusted IP addresses (or uses a self-generated key), so add your bot’s IP first. Leave withdrawals off. A bot never needs to move money out of your account.

Can an AI agent trade on Binance COIN-M by itself?

Yes. The agentic example above gives one agent permission to trade. You control what it may trade and how much through its prompt.

Can I trade Binance COIN-M perpetual futures with LumiBot?

CCXT lists perpetual swaps for this exchange. Use the full contract symbol, such as BTC/USD:BTC.

Is LumiBot free?

Yes. LumiBot is open source on GitHub at https://github.com/Lumiwealth/lumibot. You pay only your exchange’s trading fees and, for AI agents, your model provider.

Run it in the cloud with BotSpot

Do not want to keep a computer running for your Binance COIN-M bot? BotSpot is the hosted home for LumiBot strategies and AI trading agents: build with AI, backtest, connect a broker, and watch every trade with logs and alerts.

Try BotSpot

Sources