how can I close position on OKX V5 based on CCXT Python?

Question

I use this fuction : exchange.create_order(t[0][1], 'market', 'sell', 1, params={'reduceOnly': True}) can close positon on FTX, but I don't find the right way to deal on OKX exchange. Could you please let me know how to close postion on OKX?

Answer 1

OKX requires some specific parameters in order to open or close a position. Please check out this simple example:

Opening a long position:

symbol = "LTC/USDT:USDT" 
side = 'buy'
type = 'market'
amount = 1
price = None

exchange_params = {
  'tdMode': 'cross' # margin: is required to be either "isolated" or "cross",
  'posSide': 'long' # direction either long or short
}

open_position = exchange.create_order(symbol, type, side, amount, price, exchange_params)

After executing the snippet above a position in that market will be opened, if we want to close it we just need to issue an order in the opposite direction, something like this:

side = 'sell' # opposite side
exchange_params = {
  'tdMode': 'cross' # margin: is required to be either "isolated" or "cross",
  'posSide': 'long' # opposite direction now
}

# symbol, amount, type remain the same in this case

close_position = exchange.create_order(symbol, type, side, amount, price, exchange_params)

Let me know if you need any other clarification!