Binance Api code-1013 msg:Filter failure: MIN_NOTIONAL

This is a quick tutorial on how we can resolve the Filter failure: MIN_NOTIONAL

While using Binance API, when placing the order and calling API we might get the following error.

{
"code":-1013,
"msg":"Filter failure: MIN_NOTIONAL"
}

As described on binance spot API documentation, The MIN_NOTIONAL filter defines the minimum notional value allowed for an order on a symbol. An order's notional value is the price * quantity

Now let's look into what is the required values for MIN_NOTIONAL. We can get it from the exchange info endpoint as below

For BTC USDT

https://api.binance.us/api/v3/exchangeInfo?symbol=BTCUSDT

The Output for the above endpoint is:

{
   "timezone":"UTC",
   "serverTime":1657007585516,
   "rateLimits":[
      {
         "rateLimitType":"REQUEST_WEIGHT",
         "interval":"MINUTE",
         "intervalNum":1,
         "limit":1200
      },
      {
         "rateLimitType":"ORDERS",
         "interval":"SECOND",
         "intervalNum":10,
         "limit":100
      },
      {
         "rateLimitType":"ORDERS",
         "interval":"DAY",
         "intervalNum":1,
         "limit":200000
      },
      {
         "rateLimitType":"RAW_REQUESTS",
         "interval":"MINUTE",
         "intervalNum":5,
         "limit":6100
      }
   ],
   "exchangeFilters":[
      
   ],
   "symbols":[
      {
         "symbol":"BTCUSDT",
         "status":"TRADING",
         "baseAsset":"BTC",
         "baseAssetPrecision":8,
         "quoteAsset":"USDT",
         "quotePrecision":8,
         "quoteAssetPrecision":8,
         "baseCommissionPrecision":8,
         "quoteCommissionPrecision":8,
         "orderTypes":[
            "LIMIT",
            "LIMIT_MAKER",
            "MARKET",
            "STOP_LOSS_LIMIT",
            "TAKE_PROFIT_LIMIT"
         ],
         "icebergAllowed":true,
         "ocoAllowed":true,
         "quoteOrderQtyMarketAllowed":true,
         "allowTrailingStop":false,
         "cancelReplaceAllowed":false,
         "isSpotTradingAllowed":true,
         "isMarginTradingAllowed":false,
         "filters":[
            {
               "filterType":"PRICE_FILTER",
               "minPrice":"0.01000000",
               "maxPrice":"100000.00000000",
               "tickSize":"0.01000000"
            },
            {
               "filterType":"PERCENT_PRICE",
               "multiplierUp":"5",
               "multiplierDown":"0.2",
               "avgPriceMins":5
            },
            {
               "filterType":"LOT_SIZE",
               "minQty":"0.00000100",
               "maxQty":"9000.00000000",
               "stepSize":"0.00000100"
            },
            {
               "filterType":"MIN_NOTIONAL",
               "minNotional":"10.00000000",
               "applyToMarket":true,
               "avgPriceMins":5
            },
            {
               "filterType":"ICEBERG_PARTS",
               "limit":10
            },
            {
               "filterType":"MARKET_LOT_SIZE",
               "minQty":"0.00000000",
               "maxQty":"29.33387056",
               "stepSize":"0.00000000"
            },
            {
               "filterType":"MAX_NUM_ORDERS",
               "maxNumOrders":200
            },
            {
               "filterType":"MAX_NUM_ALGO_ORDERS",
               "maxNumAlgoOrders":5
            }
         ],
         "permissions":[
            "SPOT"
         ]
      }
   ]
}

For MIN_NOTIONAL:

{
               "filterType":"MIN_NOTIONAL",
               "minNotional":"10.00000000",
               "applyToMarket":true,
               "avgPriceMins":5
            },

So this defines that the limit order placed must be minimum of $10 i.e price * quantity = total here, the total must be at least 10. If this doesn't satisfy then we will get the mentioned error. So the condition must be satisfied while calling the API.

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