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Creating API Keys for Exchange Connection

Before You Begin​

To connect exchange accounts to Firedrake, you will need an account on a supported exchange:

  • Binance
  • Bybit

If you don't have an account yet:

After registration and completing basic verification, you can proceed to create API keys.

General Principles​

Firedrake connects to your exchange accounts exclusively via API keys created on the exchange side.

API keys allow the platform to:

  • retrieve balance, position, and order information,
  • read transaction history,
  • open, modify, and close trades on the futures market.

Firedrake trades only futures. The spot trading permission is still required: the platform uses it for its own service requests to the exchange.

Important: Firedrake does not have access to withdrawals and does not request permissions related to transfers or withdrawals.

Critical: Read / Write Access​

⚠️ Firedrake cannot function without read/write (trading) access.

The API key must have:

  1. permission to read account data,
  2. permission for trading operations (orders, positions).

Keys with read-only mode are suitable only for monitoring and are not supported by Firedrake for trading.

API Key Requirements​

For Firedrake to work correctly, the API key must have:

  • ✅ Futures / Derivatives trading — orders and positions, with read-write access
  • ✅ Spot trading — required for the platform's service requests (Firedrake does not trade spot)
  • ✅ Account read access (balances, positions, orders)

❌ Permissions for Withdraw, Transfer, Universal Transfer, Margin Loan / Repay must be disabled.

A key with the withdrawal permission (Withdraw on Bybit, Enable Withdrawals on Binance) does not pass the check when you save the account in Firedrake.

Creating API Keys on Binance​

Step 1. Go to API Management​

  1. Log in to your Binance account.
  2. Open: Account → API Management.

Binance does not allow creating API keys without basic security measures enabled. If KYC is not completed, key creation will be unavailable.

Binance API Management Step 1

Step 2. Select API Key Type​

When creating a key, select:

  • ✅ System generated API Key (HMAC)

❌ Self-generated API keys (RSA / Ed25519) are not supported by Firedrake.

Binance API Creation Step 2

Step 3. Name the Key and Confirm​

  1. Enter an arbitrary name (e.g., firedrake).
  2. Confirm creation via 2FA / email.

After this, Binance will generate:

  • API Key
  • Secret Key

🔐 The keys appear only once. We recommend entering them immediately into the Linked Accounts connection form on Firedrake and NOT saving them on your personal computer or other devices. Once the account is connected to Firedrake, these keys will not be needed anywhere else.

For additional security, we recommend rotating your API keys periodically (every 1-3 months).

Step 4. Configure IP Whitelist (Mandatory)​

⚠️ Binance does not allow enabling futures trading for an API key without an IP whitelist.

Therefore:

  1. Enable the option Restrict access to trusted IPs only.
  2. Add Firedrake server IP addresses (see list below).
  3. Save changes.

Only after this will Binance allow you to activate Futures access.

Step 5. Configure Permissions​

In the API restrictions section, enable:

  • ✅ Enable Reading
  • ✅ Enable Spot & Margin Trading — required for the platform's service requests
  • ✅ Enable Futures — required: Firedrake trades futures through this permission

Ensure the following are disabled:

  • ❌ Enable Withdrawals
  • ❌ Permits Universal Transfer
  • ❌ Enable Margin Loan, Repay & Transfer

Save changes.

Binance API Settings

Creating API Keys on Bybit​

Step 1. Go to API Section​

  1. Log in to your Bybit account.
  2. Open: Account → API.
Bybit API Management Step 1

Step 2. Select API Key Type​

When creating a key, select:

  • ✅ System-generated API Keys (HMAC)

❌ Self-generated API keys (RSA) are not supported by Firedrake.

Bybit API Creation Step 2

Step 3. Configure Permissions​

  1. Select API Transaction and give the key a name (e.g., firedrake).
  2. Under API Key Permissions, select Read-Write.
  3. Select Only IPs with permissions granted are allowed to access the OpenAPI and paste the Firedrake server IP addresses as one comma-separated line (the ready line is in the list below). Bybit warns that a key not linked to IP addresses expires in 3 months.
  4. In the Unified Trading group, enable:
    • ✅ Contract → Orders — required
    • ✅ Contract → Positions — required
    • ✅ SPOT → Trade — required for the platform's service requests

Without Contract → Orders and Contract → Positions, or with a Read-Only key, the key will not pass the check when you save the account in Firedrake.

Ensure that:

  • ❌ Withdraw — is not selected
Bybit API Permissions Step 3

Step 4. Save Keys​

After creation, Bybit will show:

  • API Key
  • API Secret

🔐 The keys appear only once. We recommend entering them immediately into the Linked Accounts connection form on Firedrake and NOT saving them on your personal computer or other devices. Once the account is connected to Firedrake, these keys will not be needed anywhere else.

For additional security, we recommend rotating your API keys periodically (every 1-3 months).

Adding API Keys to Firedrake​

After creating the keys:

  1. Go to Platform → Linked Accounts → Add Account.
  2. Select the exchange (Binance or Bybit).
  3. Enter:
    • API Key
    • Secret Key
  4. Save settings.

Firedrake checks the keys on the exchange right after you save. If the exchange accepts them, the account starts syncing. If not, the account is saved but stays disabled, and a window shows the reason and what to do — see If the exchange rejects your keys.

Security Recommendations​

When connecting an exchange account to Firedrake, you remain solely responsible for the security of your API keys and funds. The following recommendations help minimize risks.

Minimum Necessary Permissions​

Create API keys only with the permissions necessary for trading.

Using an IP whitelist:

  • protects keys from being used by unauthorized parties,
  • reduces the risk of keys being blocked by the exchange,
  • mandatory for Binance Futures.

Firedrake Server IP Addresses. Copy them with the copy button in the top right corner of the block.

For Bybit, paste the whole line. Bybit only accepts addresses separated by commas, with no spaces or line breaks. Otherwise it reports that the IP address format is invalid or exceeds the maximum limit.

18.143.60.129,13.214.168.178,57.180.152.8,35.75.105.6,57.180.6.217,52.199.51.87,35.72.90.105,54.248.187.231,54.238.251.198,35.78.40.101,35.73.221.100,52.68.250.9

For Binance, add the addresses one at a time:

18.143.60.129
13.214.168.178
57.180.152.8
35.75.105.6
57.180.6.217
52.199.51.87
35.72.90.105
54.248.187.231
54.238.251.198
35.78.40.101
35.73.221.100
52.68.250.9

Troubleshooting​

If the key verification fails, the window and the Status & Info column of the account show the reason. Most often it is one of these:

  1. The key is read-only — create a key with read/write access.
  2. The key has no futures trading permission — on Binance: Enable Futures; on Bybit: Contract → Orders and Contract → Positions. A Binance key without Enable Futures is rejected.
  3. The key is bound to other IP addresses — add the Firedrake IP addresses to the key's whitelist.
  4. Only part of the Secret Key was copied — copy the key and the secret in full right after creating them.
  5. The key has expired or was deleted on the exchange — create a new key.

Also make sure that Spot trading is enabled for the key: the platform needs it for its service requests.

How to replace the keys in an account is described in Connecting an Exchange Account.