nautilus_binance/futures/

execution.rs

// -------------------------------------------------------------------------------------------------
//  Copyright (C) 2015-2026 Nautech Systems Pty Ltd. All rights reserved.
//  https://nautechsystems.io
//
//  Licensed under the GNU Lesser General Public License Version 3.0 (the "License");
//  You may not use this file except in compliance with the License.
//  You may obtain a copy of the License at https://www.gnu.org/licenses/lgpl-3.0.en.html
//
//  Unless required by applicable law or agreed to in writing, software
//  distributed under the License is distributed on an "AS IS" BASIS,
//  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
//  See the License for the specific language governing permissions and
//  limitations under the License.
// -------------------------------------------------------------------------------------------------

//! Live execution client implementation for the Binance Futures adapter.

use std::{
    future::Future,
    sync::{
        Arc,
        atomic::{AtomicBool, Ordering},
    },
    time::Duration,
};

use ahash::AHashSet;
use anyhow::Context;
use async_trait::async_trait;
use dashmap::DashMap;
use indexmap::IndexMap;
use nautilus_common::{
    cache::fifo::FifoCache,
    clients::ExecutionClient,
    enums::LogLevel,
    live::runner::get_exec_event_sender,
    messages::execution::{
        BatchCancelOrders, CancelAllOrders, CancelOrder, GenerateFillReports,
        GenerateFillReportsBuilder, GenerateOrderStatusReport, GenerateOrderStatusReports,
        GeneratePositionStatusReports, GeneratePositionStatusReportsBuilder, ModifyOrder,
        PARAMS_CLOSE_POSITION, QueryAccount, QueryOrder, SubmitOrder, SubmitOrderList,
    },
};
use nautilus_core::{
    AtomicSet, DurationNanos, Params, UUID4, UnixNanos,
    datetime::{NANOSECONDS_IN_MILLISECOND, NANOSECONDS_IN_SECOND},
    string::secret::SecretString,
    time::{AtomicTime, get_atomic_clock_realtime},
};
use nautilus_live::{
    ExecutionClientCore, ExecutionEventEmitter, SocketControlFactory,
    execution::failure::CommandFailure,
    task::{TaskGroup, TaskGroupGuard, TaskJoinOutcome, TaskShutdownError, TaskSlot, finish_task},
};
use nautilus_model::{
    accounts::AccountAny,
    enums::{
        AccountType, OmsType, OrderType, PositionSide, TimeInForce, TrailingOffsetType, TriggerType,
    },
    events::{
        AccountState, OrderCancelRejected, OrderCanceled, OrderDeniedReason, OrderEventAny,
        OrderModifyRejected, OrderRejected, OrderUpdated,
    },
    identifiers::{
        AccountId, ClientId, ClientOrderId, InstrumentId, PositionId, Venue, VenueOrderId,
    },
    instruments::{Instrument, InstrumentAny},
    orders::{Order, OrderAny},
    reports::{ExecutionMassStatus, FillReport, OrderStatusReport, PositionStatusReport},
    types::{AccountBalance, Currency, MarginBalance, Money, Quantity},
};
use parking_lot::{Mutex, RwLock};
use rust_decimal::Decimal;
use tokio_util::sync::CancellationToken;

use super::{
    http::{
        BinanceFuturesHttpError,
        client::{
            BinanceFuturesAlgoOrderQueryResult, BinanceFuturesHttpClient, BinanceFuturesInstrument,
            is_algo_order_type,
        },
        models::{BatchOrderResult, BinanceFuturesAlgoOrder, BinancePositionRisk},
        query::{
            BatchCancelItem, BinanceAllOrdersParamsBuilder, BinanceOpenOrdersParamsBuilder,
            BinanceOrderQueryParamsBuilder, BinancePositionRiskParamsBuilder,
            BinanceSetLeverageParams, BinanceSetMarginTypeParams, BinanceUserTradesParamsBuilder,
        },
    },
    websocket::{
        streams::{
            client::BinanceFuturesWebSocketClient,
            dispatch::{
                DispatchCtx, dispatch_user_stream_message, make_venue_position_id,
                run_user_stream_dispatch, with_venue_position_id,
            },
            recovery::{
                RecoveryCtx, WsBuildParams, build_and_connect_user_stream, run_recovery_driver,
            },
        },
        trading::{client::BinanceFuturesWsTradingClient, dispatch::dispatch_ws_trading_message},
    },
};
use crate::{
    common::{
        consts::{
            BINANCE_FUTURES_DUAL_SIDE_SYNC_REJECT_CODE, BINANCE_FUTURES_USD_WS_API_TESTNET_URL,
            BINANCE_FUTURES_USD_WS_API_URL, BINANCE_GTX_ORDER_REJECT_CODE,
            BINANCE_NAUTILUS_FUTURES_BROKER_ID, BINANCE_VENUE, BINANCE_WS_HEARTBEAT_SECS,
        },
        credential::resolve_credentials,
        dispatch::{OrderIdentity, PendingOperation, PendingRequest, WsDispatchState},
        encoder::{encode_broker_id, legacy_client_order_id},
        enums::{
            BinanceEnvironment, BinanceFuturesOrderType, BinancePositionSide, BinancePriceMatch,
            BinanceProductType, BinanceSide, BinanceTimeInForce, BinanceWorkingType,
        },
        failure::{classify_futures_http_failure, sanitize_reason},
        symbol::{format_binance_symbol, format_instrument_id},
        urls::{get_usdm_ws_route_base_url, get_ws_private_base_url},
    },
    config::BinanceExecutionClientConfig,
    futures::{
        conversions::{
            determine_position_side, normalize_futures_asset, reduce_only_param,
            trailing_offset_to_callback_rate, trailing_offset_to_callback_rate_string,
        },
        http::{
            client::order_type_to_binance_futures,
            models::BinanceFuturesAccountInfo,
            query::{
                BatchOrderItem, BinanceCancelOrderParamsBuilder, BinanceModifyOrderParamsBuilder,
                BinanceNewOrderParams,
            },
        },
    },
};

/// Listen key keepalive interval (30 minutes).
const LISTEN_KEY_KEEPALIVE_SECS: u64 = 30 * 60;

/// Consecutive keepalive failures before a listenKey rotation is triggered.
const MAX_KEEPALIVE_FAILURES: u32 = 1;

const USER_TRADES_MAX_INTERVAL_MS: i64 = 7 * 24 * 60 * 60 * 1_000;

const USER_TRADES_PAGE_LIMIT: u32 = 1_000;

// Binance does not define whether its three-month retention is calendar-based or fixed-duration
// An 88-day interval leaves at least one day inside either interpretation
// https://developers.binance.com/en/docs/products/derivatives-trading-usds-futures/change-log
const USER_TRADES_COMPLETE_INTERVAL: DurationNanos = DurationNanos::from_days(88);

// Keep half the one-day retention safety margin when a command waits before execution
const USER_TRADES_MAX_TS_INIT_AGE: DurationNanos = DurationNanos::from_hours(12);

const BINANCE_GTD_MIN_LEAD_SECS: u64 = 600;

const BINANCE_GTD_MAX_MILLIS: u64 = 253_402_300_799_000;

/// Query parameter declaring that the command's venue order ID is a Binance Algo Service
/// `algoId`, rather than a regular matching-engine `orderId` or triggered `actualOrderId`.
pub const BINANCE_VENUE_ORDER_ID_IS_ALGO_ID_PARAM: &str = "venue_order_id_is_algo_id";

/// Live execution client for Binance Futures trading.
///
/// Implements the [`ExecutionClient`] trait for order management on Binance
/// USD-M and COIN-M Futures markets. Uses HTTP API for order operations and
/// WebSocket for real-time order updates via user data stream.
///
/// Uses a two-tier architecture with an execution handler that maintains
/// pending order maps for correlating WebSocket updates with order context.
#[derive(Debug)]
pub struct BinanceFuturesExecutionClient {
    core: ExecutionClientCore,
    clock: &'static AtomicTime,
    config: BinanceExecutionClientConfig,
    emitter: ExecutionEventEmitter,
    dispatch_state: Arc<WsDispatchState>,
    product_type: BinanceProductType,
    http_client: BinanceFuturesHttpClient,
    ws_client: Arc<Mutex<Option<BinanceFuturesWebSocketClient>>>,
    socket_factory: SocketControlFactory,
    ws_trading_client: Option<BinanceFuturesWsTradingClient>,
    listen_key: Arc<RwLock<Option<SecretString>>>,
    recovery_listen_key: Arc<RwLock<Option<SecretString>>>,
    cancellation_token: CancellationToken,
    triggered_algo_order_ids: Arc<AtomicSet<ClientOrderId>>,
    ws_task: Arc<tokio::sync::Mutex<TaskSlot<()>>>,
    recovery_lock: Arc<tokio::sync::Mutex<()>>,
    recovery_tx: Option<tokio::sync::mpsc::UnboundedSender<()>>,
    session_tasks: TaskGroup,
    pending_tasks: TaskGroup,
    is_hedge_mode: AtomicBool,
    shutdown_errors: Vec<String>,
}

impl BinanceFuturesExecutionClient {
    /// Creates a new [`BinanceFuturesExecutionClient`].
    ///
    /// # Errors
    ///
    /// Returns an error if the HTTP client fails to initialize, credentials are
    /// missing, or the product type is not a futures type (UsdM or CoinM).
    pub fn new(
        core: ExecutionClientCore,
        config: BinanceExecutionClientConfig,
    ) -> anyhow::Result<Self> {
        config.validate()?;
        let product_type = config.product_type;
        match product_type {
            BinanceProductType::UsdM | BinanceProductType::CoinM => {}
            _ => {
                anyhow::bail!(
                    "BinanceFuturesExecutionClient requires UsdM or CoinM product type, was {product_type:?}"
                );
            }
        }

        let (api_key, api_secret) = resolve_credentials(
            config
                .api_key
                .as_ref()
                .map(|value| value.expose_secret().to_owned()),
            config
                .api_secret
                .as_ref()
                .map(|value| value.expose_secret().to_owned()),
            config.environment,
            product_type,
        )?;
        let proxy_url = config
            .proxy_url
            .as_ref()
            .map(|value| value.expose_secret().to_owned());

        let clock = get_atomic_clock_realtime();
        let socket_factory = SocketControlFactory::new(core.client_id, Some(*BINANCE_VENUE));

        let http_client = BinanceFuturesHttpClient::new(
            product_type,
            config.environment,
            clock,
            Some(api_key.clone()),
            Some(api_secret.clone()),
            config.base_url_http.clone(),
            Some(config.recv_window_ms),
            None, // timeout_secs
            proxy_url.clone(),
            config.treat_expired_as_canceled,
        )
        .context("failed to construct Binance Futures HTTP client")?
        .with_retry_config(config.retry_config());

        let ws_trading_client = if config.use_ws_trading && product_type == BinanceProductType::UsdM
        {
            let ws_trading_url =
                config
                    .base_url_ws_trading
                    .clone()
                    .or_else(|| match config.environment {
                        BinanceEnvironment::Testnet | BinanceEnvironment::Demo => {
                            Some(BINANCE_FUTURES_USD_WS_API_TESTNET_URL.to_string())
                        }
                        _ => Some(BINANCE_FUTURES_USD_WS_API_URL.to_string()),
                    });

            Some(
                BinanceFuturesWsTradingClient::new(
                    ws_trading_url,
                    api_key,
                    api_secret,
                    Some(BINANCE_WS_HEARTBEAT_SECS),
                    config.transport_backend,
                )
                .with_proxy(proxy_url)
                .with_recv_window(Some(config.recv_window_ms))
                .with_socket_control(socket_factory.control("binance-futures-trading")),
            )
        } else {
            None
        };

        let emitter = ExecutionEventEmitter::new(
            clock,
            core.trader_id,
            core.account_id,
            core.account_type,
            core.base_currency,
        );

        let session_tasks = TaskGroup::new();
        let pending_tasks = TaskGroup::new();

        Ok(Self {
            core,
            clock,
            config,
            emitter,
            dispatch_state: Arc::new(WsDispatchState::default()),
            product_type,
            http_client,
            ws_client: Arc::new(Mutex::new(None)),
            socket_factory,
            ws_trading_client,
            listen_key: Arc::new(RwLock::new(None)),
            recovery_listen_key: Arc::new(RwLock::new(None)),
            cancellation_token: CancellationToken::new(),
            triggered_algo_order_ids: Arc::new(AtomicSet::new()),
            ws_task: Arc::new(tokio::sync::Mutex::new(TaskSlot::new())),
            recovery_lock: Arc::new(tokio::sync::Mutex::new(())),
            recovery_tx: None,
            session_tasks,
            pending_tasks,
            is_hedge_mode: AtomicBool::new(false),
            shutdown_errors: Vec::new(),
        })
    }

    fn restore_active_orders(&self) -> anyhow::Result<()> {
        for order in crate::common::execution::active_orders(&self.core) {
            let Some(instrument) = self
                .http_client
                .instrument_reconciliation(&order.instrument_id())
            else {
                continue;
            };

            let (_, venue_position_id) = resolve_order_position_identity(
                self.is_hedge_mode(),
                self.config.use_position_ids,
                &order,
            )
            .map_err(|e| {
                anyhow::anyhow!(
                    "Failed to restore Binance Futures order {}: {e}",
                    order.client_order_id()
                )
            })?;

            self.dispatch_state.restore_order(
                &order,
                venue_position_id,
                instrument.price_precision(),
            );
        }

        Ok(())
    }

    /// Returns whether the account is in hedge mode (dual side position).
    #[must_use]
    pub fn is_hedge_mode(&self) -> bool {
        self.is_hedge_mode.load(Ordering::Acquire)
    }

    fn resolve_algo_lookup(
        &self,
        client_order_id: Option<ClientOrderId>,
        params: Option<&Params>,
    ) -> BinanceFuturesAlgoLookup {
        if params.and_then(|p| p.get_bool(BINANCE_VENUE_ORDER_ID_IS_ALGO_ID_PARAM)) == Some(true) {
            return BinanceFuturesAlgoLookup::AlgoId;
        }

        let Some(client_order_id) = client_order_id else {
            return BinanceFuturesAlgoLookup::ClientAlgoId;
        };
        let cache = self.core.cache();
        match cache.order(&client_order_id) {
            Some(order) if !is_algo_order_type(order.order_type()) => {
                BinanceFuturesAlgoLookup::Skip
            }
            _ => BinanceFuturesAlgoLookup::ClientAlgoId,
        }
    }

    /// Returns a clone of the HTTP client's instruments cache Arc.
    #[doc(hidden)]
    #[must_use]
    pub fn instruments_cache(&self) -> Arc<DashMap<ustr::Ustr, BinanceFuturesInstrument>> {
        self.http_client.instruments_cache()
    }

    /// Converts Binance futures account info to Nautilus account state.
    fn create_account_state(&self, account_info: &BinanceFuturesAccountInfo) -> AccountState {
        Self::create_account_state_from(
            account_info,
            self.core.account_id,
            self.core.account_type,
            self.config.bnfcr_currency,
            self.clock,
        )
    }

    fn create_account_state_from(
        account_info: &BinanceFuturesAccountInfo,
        account_id: AccountId,
        account_type: AccountType,
        bnfcr_currency: Currency,
        clock: &'static AtomicTime,
    ) -> AccountState {
        let ts_now = clock.get_time_ns();

        let balances: Vec<AccountBalance> = account_info
            .assets
            .iter()
            .filter_map(|b| {
                if b.wallet_balance.is_zero() {
                    return None;
                }

                let currency = normalize_futures_asset(b.asset, bnfcr_currency);
                AccountBalance::from_total_and_free(b.wallet_balance, b.available_balance, currency)
                    .ok()
            })
            .collect();

        // Emit account-wide (cross-margin) margin balances per collateral asset.
        // Binance reports per-asset `initialMargin` / `maintMargin` which covers both
        // USDT-M (typically USDT, or USDT+BNB under multi-assets mode) and COIN-M
        // (one entry per base coin, e.g. BTC / ETH).
        let mut margins: Vec<MarginBalance> = Vec::new();

        for asset in &account_info.assets {
            let initial_dec = asset.initial_margin.unwrap_or_default();
            let maint_dec = asset.maint_margin.unwrap_or_default();

            if initial_dec.is_zero() && maint_dec.is_zero() {
                continue;
            }

            let currency = normalize_futures_asset(asset.asset, bnfcr_currency);
            let initial = Money::from_decimal(initial_dec, currency)
                .unwrap_or_else(|_| Money::zero(currency));
            let maintenance =
                Money::from_decimal(maint_dec, currency).unwrap_or_else(|_| Money::zero(currency));
            margins.push(MarginBalance::new(initial, maintenance, None));
        }

        let mut info = IndexMap::new();

        let mut push_decimal = |key: &str, val: Option<Decimal>| {
            if let Some(decimal) = val {
                info.insert(
                    key.to_string(),
                    serde_json::Value::from(decimal.to_string()),
                );
            }
        };
        push_decimal("total_wallet_balance", account_info.total_wallet_balance);
        push_decimal("total_margin_balance", account_info.total_margin_balance);
        push_decimal("total_initial_margin", account_info.total_initial_margin);
        push_decimal("total_maint_margin", account_info.total_maint_margin);
        push_decimal(
            "total_unrealized_profit",
            account_info.total_unrealized_profit,
        );
        push_decimal(
            "total_cross_wallet_balance",
            account_info.total_cross_wallet_balance,
        );
        push_decimal("total_cross_unpnl", account_info.total_cross_un_pnl);
        push_decimal("available_balance", account_info.available_balance);
        push_decimal("max_withdraw_amount", account_info.max_withdraw_amount);

        let info = if info.is_empty() {
            None
        } else {
            Some(Params::new(info))
        };

        AccountState::new(
            account_id,
            account_type,
            balances,
            margins,
            true, // reported
            UUID4::new(),
            ts_now,
            ts_now,
            None, // base currency
        )
        .with_info(info)
    }

    async fn refresh_account_state(&self) -> anyhow::Result<AccountState> {
        let account_info = match self.http_client.query_account().await {
            Ok(info) => info,
            Err(e) => anyhow::bail!("Binance Futures account state request failed: {e}"),
        };

        Ok(self.create_account_state(&account_info))
    }

    fn update_account_state(&self) {
        let http_client = self.http_client.clone();
        let account_id = self.core.account_id;
        let account_type = self.core.account_type;
        let bnfcr_currency = self.config.bnfcr_currency;
        let emitter = self.emitter.clone();
        let clock = self.clock;

        self.spawn_task("query_account", async move {
            let account_info = http_client
                .query_account()
                .await
                .context("Binance Futures account state request failed")?;
            let account_state = Self::create_account_state_from(
                &account_info,
                account_id,
                account_type,
                bnfcr_currency,
                clock,
            );
            let ts_now = clock.get_time_ns();
            emitter.emit_account_state(
                account_state.balances.clone(),
                account_state.margins.clone(),
                account_state.is_reported,
                ts_now,
                account_state.info,
            );
            Ok(())
        });
    }

    async fn init_hedge_mode(&self) -> anyhow::Result<bool> {
        let response = self.http_client.query_hedge_mode().await?;
        Ok(response.dual_side_position)
    }

    /// Returns whether the WS trading client is connected and active.
    fn ws_trading_active(&self) -> bool {
        self.ws_trading_client
            .as_ref()
            .is_some_and(|c| c.is_active())
    }

    fn submit_order_internal(
        &self,
        cmd: &SubmitOrder,
        lifetime: FuturesOrderLifetime,
        position_side: Option<BinancePositionSide>,
        venue_position_id: Option<PositionId>,
    ) -> anyhow::Result<()> {
        let order = self.core.cache().try_order_owned(&cmd.client_order_id)?;

        let emitter = self.emitter.clone();
        let trader_id = self.core.trader_id;
        let account_id = self.core.account_id;
        let clock = self.clock;
        let client_order_id = order.client_order_id();
        let strategy_id = order.strategy_id();
        let instrument_id = order.instrument_id();
        let order_side = order.order_side();
        let order_type = order.order_type();
        let quantity = order.quantity();
        let time_in_force = lifetime.time_in_force;
        let good_till_date = lifetime.good_till_date;
        let price = order.price();
        let trigger_price = order.trigger_price();
        let reduce_only = order.is_reduce_only();
        let post_only = order.is_post_only();
        let activation_price = order.activation_price();
        let trailing_offset = order.trailing_offset();
        let trigger_type = order.trigger_type();

        let close_position = cmd
            .params
            .as_ref()
            .and_then(|p| p.get_bool(PARAMS_CLOSE_POSITION))
            .unwrap_or(false);
        let rpi = cmd
            .params
            .as_ref()
            .and_then(|p| p.get_bool("rpi"))
            .unwrap_or(false);

        let use_algo_api = is_algo_order_type(order_type);
        let use_ws = self.ws_trading_active() && !use_algo_api;
        if !use_ws
            && let Err(e) = self
                .http_client
                .instrument_metadata(instrument_id)
                .and_then(|metadata| Ok(metadata.precisions()?))
        {
            let reason = OrderDeniedReason::ValidationFailed {
                detail: e.to_string(),
            };
            self.emitter.emit_order_denied(&order, &reason.to_string());
            return Ok(());
        }

        // Register identity for tracked/external dispatch routing
        self.dispatch_state.order_identities.insert(
            client_order_id,
            OrderIdentity {
                instrument_id,
                strategy_id,
                order_side,
                order_type,
                price,
                quantity,
                is_quote_quantity: false,
                venue_position_id,
            },
        );

        let price_match = cmd
            .params
            .as_ref()
            .and_then(|p| p.get_str("price_match"))
            .map(BinancePriceMatch::from_param)
            .transpose()?;

        let callback_rate = trailing_offset
            .map(trailing_offset_to_callback_rate_string)
            .transpose()?;

        let working_type = match trigger_type {
            Some(TriggerType::MarkPrice) => Some(BinanceWorkingType::MarkPrice),
            Some(TriggerType::LastPrice | TriggerType::Default) => {
                Some(BinanceWorkingType::ContractPrice)
            }
            _ => None,
        };

        // Non-algo orders can route through WS trading API when active
        if use_ws {
            let ws_client = self.ws_trading_client.as_ref().unwrap().clone();
            let dispatch_state = self.dispatch_state.clone();

            let symbol = format_binance_symbol(&instrument_id);
            let binance_side = BinanceSide::try_from(order_side)?;
            let binance_order_type = order_type_to_binance_futures(order_type)?;
            let binance_tif = if rpi {
                BinanceTimeInForce::Rpi
            } else if post_only {
                BinanceTimeInForce::Gtx
            } else {
                BinanceTimeInForce::try_from(time_in_force)?
            };

            let requires_time_in_force = matches!(
                order_type,
                OrderType::Limit | OrderType::StopLimit | OrderType::LimitIfTouched
            );

            let client_id_str =
                encode_broker_id(&client_order_id, BINANCE_NAUTILUS_FUTURES_BROKER_ID);

            let params = BinanceNewOrderParams {
                symbol,
                side: binance_side,
                order_type: binance_order_type,
                time_in_force: if requires_time_in_force {
                    Some(binance_tif)
                } else {
                    None
                },
                quantity: Some(quantity.to_string()),
                price: if price_match.is_some() {
                    None
                } else {
                    price.map(|p| p.to_string())
                },
                new_client_order_id: Some(client_id_str),
                stop_price: trigger_price.map(|p| p.to_string()),
                reduce_only: reduce_only_param(reduce_only, position_side),
                position_side,
                close_position: None,
                activation_price: activation_price.map(|p| p.to_string()),
                callback_rate,
                working_type,
                price_protect: None,
                new_order_resp_type: None,
                good_till_date,
                recv_window: None,
                price_match,
                self_trade_prevention_mode: None,
            };

            self.emitter.emit_order_submitted(&order);

            // Pre-register before sending to avoid response racing the insert
            let request_id = ws_client.next_request_id();
            dispatch_state.pending_requests.insert(
                request_id.clone(),
                PendingRequest {
                    client_order_id,
                    venue_order_id: None,
                    operation: PendingOperation::Place,
                },
            );

            self.spawn_task("submit_order_ws", async move {
                if let Err(e) = ws_client
                    .place_order_with_id(request_id.clone(), params)
                    .await
                {
                    dispatch_state.pending_requests.remove(&request_id);
                    log::warn!("WS submit request failed for {client_order_id}: {e}");
                    anyhow::bail!("WS submit order failed: {e}");
                }
                Ok(())
            });

            return Ok(());
        }

        let http_client = self.http_client.clone();
        let dispatch_state = self.dispatch_state.clone();

        self.emitter.emit_order_submitted(&order);

        self.spawn_task("submit_order", async move {
            let result = if use_algo_api {
                http_client
                    .submit_algo_order(
                        account_id,
                        instrument_id,
                        client_order_id,
                        order_side,
                        order_type,
                        quantity,
                        time_in_force,
                        price,
                        trigger_price,
                        reduce_only,
                        close_position,
                        position_side,
                        activation_price,
                        callback_rate,
                        working_type,
                        good_till_date,
                    )
                    .await
            } else {
                http_client
                    .submit_order(
                        account_id,
                        instrument_id,
                        client_order_id,
                        order_side,
                        order_type,
                        quantity,
                        time_in_force,
                        price,
                        trigger_price,
                        reduce_only,
                        post_only,
                        rpi,
                        position_side,
                        price_match,
                        good_till_date,
                    )
                    .await
            };

            match result {
                Ok(report) => {
                    log::debug!(
                        "Order submit accepted: client_order_id={}, venue_order_id={}",
                        client_order_id,
                        report.venue_order_id
                    );
                }
                Err(e) => {
                    // Keep order registered on ambiguous evidence - if HTTP failed due to
                    // timeout but the order reached Binance, WebSocket updates will still
                    // arrive. The order resolves via the stream or reconciliation.
                    let http_error = e.downcast_ref::<BinanceFuturesHttpError>();
                    let failure = http_error.map_or_else(
                        || CommandFailure::Ambiguous(e.to_string()),
                        classify_futures_http_failure,
                    );

                    match failure {
                        CommandFailure::Ambiguous(reason) => {
                            log::warn!(
                                "Ambiguous submit failure for {client_order_id}, awaiting reconciliation: {reason}"
                            );
                        }
                        CommandFailure::NotSent(reason) | CommandFailure::VenueRejected(reason) => {
                            let due_post_only = classify_submit_order_error(&e);
                            let ts_now = clock.get_time_ns();

                            let rejected = OrderRejected::new(
                                trader_id,
                                strategy_id,
                                instrument_id,
                                client_order_id,
                                account_id,
                                format!("submit-order-error: {}", sanitize_reason(&reason)).into(),
                                UUID4::new(),
                                ts_now,
                                ts_now,
                                false,
                                due_post_only,
                            );

                            dispatch_state.cleanup_terminal(client_order_id);
                            emitter.send_order_event(OrderEventAny::Rejected(rejected));
                        }
                    }

                    return Err(e);
                }
            }

            Ok(())
        });

        Ok(())
    }

    fn cancel_order_internal(&self, cmd: &CancelOrder) {
        let command = cmd.clone();

        // Non-triggered algo orders use algo cancel endpoint, triggered use regular
        let is_algo = self
            .core
            .cache()
            .order(&command.client_order_id)
            .is_some_and(|order| is_algo_order_type(order.order_type()));
        let promoted_venue_order_id = self
            .dispatch_state
            .promoted_algo_order_id(&command.client_order_id);
        let use_algo_cancel = should_use_algo_cancel(
            is_algo,
            self.triggered_algo_order_ids
                .contains(&command.client_order_id),
            promoted_venue_order_id.is_some(),
        );

        let emitter = self.emitter.clone();
        let trader_id = self.core.trader_id;
        let account_id = self.core.account_id;
        let clock = self.clock;
        let instrument_id = command.instrument_id;
        let venue_order_id =
            cancel_venue_order_id(is_algo, command.venue_order_id, promoted_venue_order_id);
        let client_order_id = command.client_order_id;

        // Non-algo cancels can route through WS trading API when active
        if self.ws_trading_active() && !use_algo_cancel {
            let ws_client = self.ws_trading_client.as_ref().unwrap().clone();
            let dispatch_state = self.dispatch_state.clone();

            let mut cancel_builder = BinanceCancelOrderParamsBuilder::default();
            cancel_builder.symbol(format_binance_symbol(&instrument_id));

            if let Some(venue_id) = venue_order_id {
                match venue_id.inner().parse::<i64>() {
                    Ok(order_id) => {
                        cancel_builder.order_id(order_id);
                    }
                    Err(e) => {
                        log::warn!(
                            "Unable to parse venue_order_id {venue_id} for cancel {client_order_id}, canceling by client_order_id: {e}"
                        );
                    }
                }
            }

            cancel_builder.orig_client_order_id(encode_broker_id(
                &client_order_id,
                BINANCE_NAUTILUS_FUTURES_BROKER_ID,
            ));

            let params = cancel_builder.build().unwrap();

            // Pre-register before sending to avoid response racing the insert
            let request_id = ws_client.next_request_id();
            dispatch_state.pending_requests.insert(
                request_id.clone(),
                PendingRequest {
                    client_order_id,
                    venue_order_id,
                    operation: PendingOperation::Cancel,
                },
            );

            let http_client = self.http_client.clone();
            self.spawn_task("cancel_order_ws", async move {
                let mut params = params;
                http_client
                    .inner()
                    .resolve_order_identity(
                        &params.symbol,
                        &mut params.order_id,
                        &mut params.orig_client_order_id,
                    )
                    .await
                    .inspect_err(|e| {
                        dispatch_state.pending_requests.remove(&request_id);
                        let ts_now = clock.get_time_ns();

                        let rejected = OrderCancelRejected::new(
                            trader_id,
                            command.strategy_id,
                            command.instrument_id,
                            command.client_order_id,
                            format!(
                                "cancel identity lookup failed before submission: {}",
                                sanitize_reason(&e.to_string())
                            )
                            .into(),
                            UUID4::new(),
                            ts_now,
                            ts_now,
                            false,
                            command.venue_order_id,
                            Some(account_id),
                        );
                        emitter.send_order_event(OrderEventAny::CancelRejected(rejected));
                    })?;

                let result = ws_client
                    .cancel_order_with_id(request_id.clone(), params)
                    .await;

                if let Err(e) = result {
                    dispatch_state.pending_requests.remove(&request_id);
                    log::warn!("WS cancel request failed for {client_order_id}: {e}");
                    anyhow::bail!("WS cancel order failed: {e}");
                }
                Ok(())
            });

            return;
        }

        let http_client = self.http_client.clone();

        self.spawn_task("cancel_order", async move {
            let result = if use_algo_cancel {
                // Try algo cancel first; if it fails, the order may have been triggered
                // before this session started, so fall back to regular cancel
                match http_client.cancel_algo_order(client_order_id).await {
                    Ok(()) => Ok(()),
                    Err(algo_err) if !should_retry_regular_cancel(client_order_id, &algo_err) => Err(algo_err),
                    Err(algo_err) => {
                        log::debug!("Algo cancel failed, trying regular cancel: {algo_err}");
                        http_client
                            .cancel_order(instrument_id, venue_order_id, Some(client_order_id))
                            .await
                            .map(|_| ())
                    }
                }
            } else {
                http_client
                    .cancel_order(instrument_id, venue_order_id, Some(client_order_id))
                    .await
                    .map(|_| ())
            };

            match result {
                Ok(()) => {
                    log::debug!("Cancel request accepted: client_order_id={client_order_id}");
                }
                Err(e) => {
                    let failure = e.downcast_ref::<BinanceFuturesHttpError>().map_or_else(
                        || CommandFailure::Ambiguous(e.to_string()),
                        classify_futures_http_failure,
                    );

                    match failure {
                        CommandFailure::Ambiguous(reason) => {
                            log::warn!(
                                "Ambiguous cancel failure for {client_order_id}, awaiting reconciliation: {reason}"
                            );
                        }
                        CommandFailure::NotSent(reason) | CommandFailure::VenueRejected(reason) => {
                            let ts_now = clock.get_time_ns();

                            let rejected = OrderCancelRejected::new(
                                trader_id,
                                command.strategy_id,
                                command.instrument_id,
                                client_order_id,
                                format!("cancel-order-error: {}", sanitize_reason(&reason)).into(),
                                UUID4::new(),
                                ts_now,
                                ts_now,
                                false,
                                command.venue_order_id,
                                Some(account_id),
                            );

                            emitter.send_order_event(OrderEventAny::CancelRejected(rejected));
                        }
                    }

                    return Err(e);
                }
            }

            Ok(())
        });
    }

    fn cancel_all_orders_for_side(&self, cmd: &CancelAllOrders) -> anyhow::Result<()> {
        // Cancel-all has no side parameter, and batch covers regular orders only
        let (regular_cancels, algo_cancels): (Vec<CancelOrder>, Vec<CancelOrder>) = {
            let cache = self.core.cache();
            let mut regular = Vec::new();
            let mut algo = Vec::new();

            for order in
                cache.orders_open(None, Some(&cmd.instrument_id), None, None, cmd.order_side)
            {
                let cancel = CancelOrder {
                    trader_id: order.trader_id(),
                    client_id: cmd.client_id,
                    strategy_id: order.strategy_id(),
                    instrument_id: order.instrument_id(),
                    client_order_id: order.client_order_id(),
                    venue_order_id: order.venue_order_id(),
                    command_id: cmd.command_id,
                    ts_init: cmd.ts_init,
                    params: cmd.params.clone(),
                    correlation_id: cmd.correlation_id,
                    causation_id: cmd.causation_id,
                };

                if is_algo_order_type(order.order_type()) {
                    algo.push(cancel);
                } else {
                    regular.push(cancel);
                }
            }

            (regular, algo)
        };

        if regular_cancels.is_empty() && algo_cancels.is_empty() {
            log::debug!("No open orders to cancel for {}", cmd.instrument_id);
            return Ok(());
        }

        if !regular_cancels.is_empty() {
            self.batch_cancel_orders(BatchCancelOrders {
                trader_id: cmd.trader_id,
                client_id: cmd.client_id,
                strategy_id: cmd.strategy_id,
                instrument_id: cmd.instrument_id,
                cancels: regular_cancels,
                command_id: cmd.command_id,
                ts_init: cmd.ts_init,
                params: cmd.params.clone(),
                correlation_id: cmd.correlation_id,
                causation_id: cmd.causation_id,
            })?;
        }

        for cancel in &algo_cancels {
            self.cancel_order_internal(cancel);
        }

        Ok(())
    }

    fn spawn_task<F>(&self, description: &'static str, fut: F)
    where
        F: Future<Output = anyhow::Result<()>> + Send + 'static,
    {
        crate::common::execution::spawn_task(&self.pending_tasks, description, fut);
    }

    fn begin_generation_shutdown(&mut self) {
        self.cancellation_token.cancel();
        self.abort_session_tasks();

        if let Some(client) = self.ws_client.lock().as_ref() {
            client.begin_shutdown();
        }

        if let Some(client) = self.ws_trading_client.as_ref() {
            client.begin_shutdown();
        }

        if let Ok(mut task_slot) = self.ws_task.try_lock() {
            task_slot.abort();
        }

        self.recovery_tx.take();

        self.abort_pending_tasks();
        self.core.set_disconnected();
    }

    fn abort_pending_tasks(&self) {
        crate::common::execution::abort_pending_tasks(&self.pending_tasks);
    }

    fn abort_session_tasks(&self) {
        self.session_tasks.begin_shutdown();
    }

    async fn await_pending_tasks(&self) -> anyhow::Result<()> {
        crate::common::execution::await_pending_tasks(&self.pending_tasks).await
    }

    async fn await_session_tasks(&self) -> anyhow::Result<()> {
        self.finish_session_tasks().await.map_err(|e| {
            anyhow::anyhow!("Failed to terminate Binance Futures session tasks: {e}")
        })?;
        Ok(())
    }

    async fn finish_session_tasks(&self) -> Result<(), TaskShutdownError> {
        self.session_tasks.begin_shutdown();
        self.session_tasks
            .finish_shutdown(Duration::from_secs(1), Duration::from_secs(2))
            .await?;
        Ok(())
    }

    async fn await_dispatch_task(&self) -> anyhow::Result<()> {
        let _recovery_guard = self.recovery_lock.lock().await;
        let mut task_slot = self.ws_task.lock().await;
        let Some(outcome) = finish_task(
            &mut task_slot,
            Duration::from_secs(1),
            Duration::from_secs(2),
        )
        .await
        else {
            return Ok(());
        };

        match outcome {
            TaskJoinOutcome::Completed(()) | TaskJoinOutcome::Aborted => Ok(()),
            TaskJoinOutcome::Failed(e) => {
                Err(anyhow::anyhow!("Binance Futures dispatch task failed: {e}"))
            }
            TaskJoinOutcome::Incomplete => Err(anyhow::anyhow!(
                "Binance Futures dispatch task did not stop after abort"
            )),
        }
    }

    async fn close_listen_key_slot(
        &self,
        slot: &RwLock<Option<SecretString>>,
        context: &str,
    ) -> anyhow::Result<()> {
        let key = slot.read().clone();
        let Some(key) = key else {
            return Ok(());
        };

        self.http_client
            .close_listen_key(key.expose_secret())
            .await
            .with_context(|| context.to_string())?;
        let mut owned = slot.write();
        if owned.as_ref().map(SecretString::expose_secret) == Some(key.expose_secret()) {
            *owned = None;
        }
        Ok(())
    }

    /// Returns the (price_precision, size_precision) for an instrument.
    fn get_instrument_precision(&self, instrument_id: InstrumentId) -> anyhow::Result<(u8, u8)> {
        self.http_client
            .instrument_reconciliation(&instrument_id)
            .map(|instrument| (instrument.price_precision(), instrument.size_precision()))
            .ok_or_else(|| {
                anyhow::anyhow!(
                    "Binance Futures instrument {instrument_id} is not loaded for reconciliation"
                )
            })
    }

    fn is_instrument_out_of_scope(&self, instrument_id: InstrumentId) -> bool {
        self.config.instrument_provider.excludes(instrument_id)
    }

    /// Creates a position status report from Binance position risk data.
    fn create_position_report(
        &self,
        position: &BinancePositionRisk,
        instrument_id: InstrumentId,
        size_precision: u8,
    ) -> anyhow::Result<PositionStatusReport> {
        let position_amount: Decimal = position
            .position_amt
            .parse()
            .context("invalid position_amt")?;

        if position_amount.is_zero() {
            anyhow::bail!("Position is flat");
        }

        let entry_price: Decimal = position
            .entry_price
            .parse()
            .context("invalid entry_price")?;

        let position_side = if position_amount > Decimal::ZERO {
            PositionSide::Long
        } else {
            PositionSide::Short
        };

        if self.config.use_position_ids {
            match position.position_side {
                Some(BinancePositionSide::Long) => anyhow::ensure!(
                    position_side == PositionSide::Long,
                    "position_side LONG conflicts with negative position_amt"
                ),
                Some(BinancePositionSide::Short) => anyhow::ensure!(
                    position_side == PositionSide::Short,
                    "position_side SHORT conflicts with positive position_amt"
                ),
                _ => {}
            }
        }

        let venue_position_id = make_venue_position_id(
            self.config.use_position_ids,
            instrument_id,
            position.position_side,
        )?;

        if let Some(venue_position_id) = venue_position_id {
            self.ensure_cached_position_id_compatible(
                instrument_id,
                position_side,
                venue_position_id,
            )?;
        }

        let ts_now = self.clock.get_time_ns();

        Ok(PositionStatusReport::new(
            self.core.account_id,
            instrument_id,
            position_side,
            Quantity::from_decimal_dp(position_amount.abs(), size_precision)?,
            ts_now,
            ts_now,
            Some(UUID4::new()),
            venue_position_id,
            Some(entry_price),
        ))
    }

    fn ensure_cached_position_id_compatible(
        &self,
        instrument_id: InstrumentId,
        position_side: PositionSide,
        venue_position_id: PositionId,
    ) -> anyhow::Result<()> {
        let cache = self.core.cache();
        let mut incompatible_ids: Vec<_> = cache
            .positions_open(
                Some(&BINANCE_VENUE),
                Some(&instrument_id),
                None,
                Some(&self.core.account_id),
                Some(position_side),
            )
            .into_iter()
            .filter(|position| position.id != venue_position_id)
            .map(|position| position.id.to_string())
            .collect();
        incompatible_ids.sort_unstable();

        anyhow::ensure!(
            incompatible_ids.is_empty(),
            "incompatible cached {position_side:?} position IDs for {instrument_id}: {}; expected {venue_position_id}",
            incompatible_ids.join(", "),
        );
        Ok(())
    }

    async fn generate_open_order_status_reports(
        &self,
        instrument_id: Option<InstrumentId>,
        ts_init: UnixNanos,
    ) -> anyhow::Result<Vec<OpenOrderStatusReport>> {
        if let Some(instrument_id) = instrument_id
            && self
                .http_client
                .instrument_reconciliation(&instrument_id)
                .is_none()
        {
            if self.is_instrument_out_of_scope(instrument_id) {
                log::debug!(
                    "Dropping out-of-scope Binance Futures order request for instrument {instrument_id}"
                );
                return Ok(Vec::new());
            }

            anyhow::bail!(
                "Binance Futures open order request has unresolved instrument {instrument_id}"
            );
        }

        let symbol = instrument_id.map(|id| format_binance_symbol(&id));
        let mut builder = BinanceOpenOrdersParamsBuilder::default();

        if let Some(symbol) = symbol {
            builder.symbol(symbol);
        }
        let params = builder.build().map_err(|e| anyhow::anyhow!("{e}"))?;

        let (orders, algo_orders) = tokio::try_join!(
            self.http_client.query_open_orders(&params),
            self.http_client.query_open_algo_orders(instrument_id),
        )?;
        let mut reports = Vec::with_capacity(orders.len() + algo_orders.len());

        for order in orders {
            let instrument_id = instrument_id
                .unwrap_or_else(|| format_instrument_id(&order.symbol, self.product_type));
            let Some(instrument) = self.http_client.instrument_reconciliation(&instrument_id)
            else {
                if self.is_instrument_out_of_scope(instrument_id) {
                    log::debug!(
                        "Dropping out-of-scope Binance Futures open order for instrument {instrument_id}"
                    );
                    continue;
                }
                anyhow::bail!(
                    "Binance Futures open order has unresolved instrument {instrument_id}"
                );
            };

            let report = order.to_order_status_report(
                self.core.account_id,
                instrument.id(),
                instrument.price_precision(),
                instrument.size_precision(),
                self.config.treat_expired_as_canceled,
                ts_init,
            )?;
            let venue_position_id = make_venue_position_id(
                self.config.use_position_ids,
                instrument.id(),
                order.position_side,
            )?;
            reports.push(OpenOrderStatusReport {
                report: with_venue_position_id(report, venue_position_id),
                quantity_free_close_position_side: None,
            });
        }

        for algo_order in algo_orders {
            let instrument_id = instrument_id
                .unwrap_or_else(|| format_instrument_id(&algo_order.symbol, self.product_type));
            let Some(instrument) = self.http_client.instrument_reconciliation(&instrument_id)
            else {
                if self.is_instrument_out_of_scope(instrument_id) {
                    log::debug!(
                        "Dropping out-of-scope Binance Futures open algo order for instrument {instrument_id}"
                    );
                    continue;
                }
                anyhow::bail!(
                    "Binance Futures open algo order has unresolved instrument {instrument_id}"
                );
            };

            let report = algo_order.to_order_status_report(
                self.core.account_id,
                instrument.id(),
                instrument.price_precision(),
                instrument.size_precision(),
                ts_init,
            )?;
            let venue_position_id = make_venue_position_id(
                self.config.use_position_ids,
                instrument.id(),
                algo_order.position_side,
            )?;
            reports.push(OpenOrderStatusReport {
                report: with_venue_position_id(report, venue_position_id),
                quantity_free_close_position_side: quantity_free_close_position_side(&algo_order),
            });
        }

        Ok(reports)
    }

    async fn apply_futures_config(&self) -> anyhow::Result<()> {
        if let Some(ref leverages) = self.config.futures_leverages {
            for (symbol, leverage) in leverages {
                let params = BinanceSetLeverageParams {
                    symbol: symbol.clone(),
                    leverage: *leverage,
                    recv_window: None,
                };
                // Best-effort: a venue reject is non-fatal, but transport errors
                // propagate so an unhealthy connection still surfaces.
                match self.http_client.set_leverage(&params).await {
                    Ok(response) => {
                        log::info!("Set leverage {} {}X", response.symbol, response.leverage);
                    }
                    Err(BinanceFuturesHttpError::BinanceError { code, message, .. }) => {
                        log::warn!(
                            "Unable to set leverage for {symbol} to {leverage}x: [{code}] {message}; skipping (leverage init is best-effort)"
                        );
                    }
                    Err(e) => {
                        return Err(e).context(format!("failed to set leverage for {symbol}"));
                    }
                }
            }
        }

        if let Some(ref margin_types) = self.config.futures_margin_types {
            for (symbol, margin_type) in margin_types {
                let params = BinanceSetMarginTypeParams {
                    symbol: symbol.clone(),
                    margin_type: *margin_type,
                    recv_window: None,
                };

                match self.http_client.set_margin_type(&params).await {
                    Ok(_) => {
                        log::info!("Set {symbol} margin type to {margin_type:?}");
                    }
                    Err(BinanceFuturesHttpError::BinanceError { code: -4046, .. }) => {
                        log::debug!("{symbol} margin type already {margin_type:?}");
                    }
                    Err(e) => {
                        return Err(e).context(format!("failed to set margin type for {symbol}"));
                    }
                }
            }
        }

        Ok(())
    }
}

fn quantity_free_close_position_side(order: &BinanceFuturesAlgoOrder) -> Option<PositionSide> {
    let quantity_free = match order.quantity.as_deref() {
        None => true,
        Some(quantity) => quantity
            .parse::<Decimal>()
            .is_ok_and(|quantity| quantity.is_zero()),
    };

    if order.close_position != Some(true) || !quantity_free {
        return None;
    }

    match (order.side, order.position_side) {
        (BinanceSide::Sell, Some(BinancePositionSide::Long | BinancePositionSide::Both) | None) => {
            Some(PositionSide::Long)
        }
        (BinanceSide::Buy, Some(BinancePositionSide::Short | BinancePositionSide::Both) | None) => {
            Some(PositionSide::Short)
        }
        _ => None,
    }
}

fn restore_close_position_quantities(
    order_reports: &mut [OpenOrderStatusReport],
    position_reports: &[PositionStatusReport],
) {
    // Binance accepts close-all orders without quantity and reports the omitted value as either
    // absent or zero. Core reconciliation needs a positive quantity to materialize the order, so
    // the current position leg is the narrowest valid source.
    for order_report in order_reports {
        let Some(position_side) = order_report.quantity_free_close_position_side else {
            continue;
        };

        if order_report.report.quantity.is_positive() {
            continue;
        }

        let mut matching_positions = position_reports.iter().filter(|position| {
            position.account_id == order_report.report.account_id
                && position.instrument_id == order_report.report.instrument_id
                && position.position_side == position_side
        });
        let Some(position) = matching_positions.next() else {
            continue;
        };

        if matching_positions.next().is_some() {
            log::warn!(
                "Cannot restore close-position quantity for order {}: multiple {:?} position reports for {}",
                order_report.report.venue_order_id,
                position_side,
                order_report.report.instrument_id,
            );
            continue;
        }

        order_report.report.quantity = position.quantity;
    }
}

fn resolve_order_position_identity(
    is_hedge_mode: bool,
    use_position_ids: bool,
    order: &OrderAny,
) -> Result<(Option<BinancePositionSide>, Option<PositionId>), OrderDeniedReason> {
    let position_side =
        determine_position_side(is_hedge_mode, order.order_side(), order.is_reduce_only());
    let venue_position_id = make_venue_position_id(
        use_position_ids,
        order.instrument_id(),
        Some(position_side.unwrap_or(BinancePositionSide::Both)),
    )
    .map_err(|e| OrderDeniedReason::ValidationFailed {
        detail: e.to_string(),
    })?;
    Ok((position_side, venue_position_id))
}

fn validate_submit_position_id(
    submitted_position_id: Option<PositionId>,
    venue_position_id: Option<PositionId>,
) -> Result<(), OrderDeniedReason> {
    if let (Some(submitted_position_id), Some(venue_position_id)) =
        (submitted_position_id, venue_position_id)
        && submitted_position_id != venue_position_id
    {
        return Err(OrderDeniedReason::InvalidPositionId {
            position_id: submitted_position_id,
            detail: format!(
                "conflicts with canonical Binance Futures venue position ID {venue_position_id}; omit position_id while use_position_ids=true, or set use_position_ids=false for virtual hedging"
            ),
        });
    }
    Ok(())
}

fn build_futures_order_list_batch(
    orders: &[OrderAny],
    is_hedge_mode: bool,
    close_position: bool,
    price_match: Option<BinancePriceMatch>,
    product_type: BinanceProductType,
    use_gtd: bool,
    ts_now: UnixNanos,
) -> Result<Vec<BatchOrderItem>, String> {
    if orders.len() > 5 {
        return Err(format!(
            "Binance Futures batch order submission supports at most 5 orders, was {}",
            orders.len()
        ));
    }

    if close_position {
        return Err(
            "`close_position` is not supported for Binance Futures batch order submission"
                .to_string(),
        );
    }

    if orders.iter().any(is_grouped_order) {
        return Err(
            "Binance Futures linked order-list contingencies require adapter-level OCO-on-fill state"
                .to_string(),
        );
    }

    if let Some(order) = orders
        .iter()
        .find(|order| is_algo_order_type(order.order_type()))
    {
        return Err(format!(
            "Binance Futures batch order submission does not support conditional order type {:?}",
            order.order_type()
        ));
    }

    let mut batch_items = Vec::with_capacity(orders.len());
    for order in orders {
        if price_match.is_some() && order.is_post_only() {
            return Err(OrderDeniedReason::unsupported_post_only().to_string());
        }

        if price_match.is_some() && order.order_type() != OrderType::Limit {
            return Err(format!(
                "price_match is not supported for order type {:?}",
                order.order_type()
            ));
        }

        let binance_side = BinanceSide::try_from(order.order_side()).map_err(|e| e.to_string())?;
        let binance_order_type =
            order_type_to_binance_futures(order.order_type()).map_err(|e| e.to_string())?;
        let lifetime = determine_futures_order_lifetime(
            product_type,
            order.order_type(),
            order.time_in_force(),
            order.expire_time(),
            order.is_post_only(),
            use_gtd,
            ts_now,
        )
        .map_err(|e| e.to_string())?;
        let binance_tif = if order.is_post_only() {
            BinanceTimeInForce::Gtx
        } else {
            BinanceTimeInForce::try_from(lifetime.time_in_force).map_err(|e| e.to_string())?
        };
        let position_side =
            determine_position_side(is_hedge_mode, order.order_side(), order.is_reduce_only());
        let requires_time_in_force = matches!(order.order_type(), OrderType::Limit);

        batch_items.push(BatchOrderItem {
            symbol: format_binance_symbol(&order.instrument_id()),
            side: binance_side_wire(binance_side).to_string(),
            order_type: binance_futures_order_type_wire(binance_order_type).to_string(),
            time_in_force: if requires_time_in_force {
                Some(binance_time_in_force_wire(binance_tif).to_string())
            } else {
                None
            },
            quantity: Some(order.quantity().to_string()),
            price: if price_match.is_some() {
                None
            } else {
                order.price().map(|price| price.to_string())
            },
            reduce_only: reduce_only_param(order.is_reduce_only(), position_side),
            new_client_order_id: Some(encode_broker_id(
                &order.client_order_id(),
                BINANCE_NAUTILUS_FUTURES_BROKER_ID,
            )),
            stop_price: None,
            position_side: position_side.map(|side| binance_position_side_wire(side).to_string()),
            activation_price: None,
            callback_rate: None,
            working_type: None,
            price_protect: None,
            close_position: None,
            good_till_date: lifetime.good_till_date,
            price_match: price_match
                .and_then(binance_price_match_wire)
                .map(str::to_string),
            self_trade_prevention_mode: None,
        });
    }

    Ok(batch_items)
}

fn determine_futures_order_lifetime(
    product_type: BinanceProductType,
    order_type: OrderType,
    time_in_force: TimeInForce,
    expire_time: Option<UnixNanos>,
    post_only: bool,
    use_gtd: bool,
    ts_now: UnixNanos,
) -> Result<FuturesOrderLifetime, OrderDeniedReason> {
    if time_in_force != TimeInForce::Gtd {
        return Ok(FuturesOrderLifetime {
            time_in_force,
            good_till_date: None,
        });
    }

    if !use_gtd {
        log::warn!(
            "Binance Futures GTD submitted as GTC because use_gtd=false. Enable manage_gtd_expiry on the submitting strategy"
        );
        return Ok(FuturesOrderLifetime {
            time_in_force: TimeInForce::Gtc,
            good_till_date: None,
        });
    }

    if !matches!(
        order_type,
        OrderType::Limit | OrderType::StopLimit | OrderType::LimitIfTouched
    ) {
        return Err(OrderDeniedReason::ValidationFailed {
            detail: format!("Binance Futures does not support GTD for order type {order_type:?}"),
        });
    }

    if post_only {
        return Err(OrderDeniedReason::unsupported_post_only());
    }

    if product_type != BinanceProductType::UsdM {
        return Err(OrderDeniedReason::ValidationFailed {
            detail: format!("Binance {product_type:?} Futures does not support native GTD"),
        });
    }

    let expire_time = expire_time.ok_or(OrderDeniedReason::MissingExpireTime)?;
    let expire_ns = expire_time.as_u64();
    if !expire_ns.is_multiple_of(NANOSECONDS_IN_SECOND) {
        return Err(OrderDeniedReason::ValidationFailed {
            detail: "Binance Futures goodTillDate requires whole-second precision".to_string(),
        });
    }

    let minimum_ns = ts_now
        .as_u64()
        .checked_add(BINANCE_GTD_MIN_LEAD_SECS * NANOSECONDS_IN_SECOND)
        .ok_or_else(|| OrderDeniedReason::ValidationFailed {
            detail: "Binance Futures GTD minimum timestamp overflow".to_string(),
        })?;

    if expire_ns <= minimum_ns {
        return Err(OrderDeniedReason::ValidationFailed {
            detail: format!(
                "Binance Futures goodTillDate must be strictly greater than current time plus {BINANCE_GTD_MIN_LEAD_SECS} seconds"
            ),
        });
    }

    let good_till_date = expire_ns / NANOSECONDS_IN_MILLISECOND;
    if good_till_date >= BINANCE_GTD_MAX_MILLIS {
        return Err(OrderDeniedReason::ValidationFailed {
            detail: format!(
                "Binance Futures goodTillDate must be smaller than {BINANCE_GTD_MAX_MILLIS}"
            ),
        });
    }

    Ok(FuturesOrderLifetime {
        time_in_force,
        good_till_date: Some(i64::try_from(good_till_date).map_err(|e| {
            OrderDeniedReason::ValidationFailed {
                detail: e.to_string(),
            }
        })?),
    })
}

fn is_grouped_order(order: &OrderAny) -> bool {
    order.contingency_type().is_some()
        || order
            .linked_order_ids()
            .is_some_and(|linked_order_ids| !linked_order_ids.is_empty())
}

fn binance_side_wire(side: BinanceSide) -> &'static str {
    match side {
        BinanceSide::Buy => "BUY",
        BinanceSide::Sell => "SELL",
    }
}

fn binance_futures_order_type_wire(order_type: BinanceFuturesOrderType) -> &'static str {
    match order_type {
        BinanceFuturesOrderType::Limit => "LIMIT",
        BinanceFuturesOrderType::Market => "MARKET",
        BinanceFuturesOrderType::Stop => "STOP",
        BinanceFuturesOrderType::StopMarket => "STOP_MARKET",
        BinanceFuturesOrderType::TakeProfit => "TAKE_PROFIT",
        BinanceFuturesOrderType::TakeProfitMarket => "TAKE_PROFIT_MARKET",
        BinanceFuturesOrderType::TrailingStopMarket => "TRAILING_STOP_MARKET",
        BinanceFuturesOrderType::Liquidation => "LIQUIDATION",
        BinanceFuturesOrderType::Adl => "ADL",
        BinanceFuturesOrderType::Unknown => "UNKNOWN",
    }
}

fn binance_time_in_force_wire(time_in_force: BinanceTimeInForce) -> &'static str {
    match time_in_force {
        BinanceTimeInForce::Gtc => "GTC",
        BinanceTimeInForce::Ioc => "IOC",
        BinanceTimeInForce::Fok => "FOK",
        BinanceTimeInForce::Gtx => "GTX",
        BinanceTimeInForce::Gtd => "GTD",
        BinanceTimeInForce::Rpi => "RPI",
        BinanceTimeInForce::Unknown => "UNKNOWN",
    }
}

fn binance_position_side_wire(position_side: BinancePositionSide) -> &'static str {
    match position_side {
        BinancePositionSide::Both => "BOTH",
        BinancePositionSide::Long => "LONG",
        BinancePositionSide::Short => "SHORT",
        BinancePositionSide::Unknown => "UNKNOWN",
    }
}

fn binance_price_match_wire(price_match: BinancePriceMatch) -> Option<&'static str> {
    match price_match {
        BinancePriceMatch::None | BinancePriceMatch::Unknown => None,
        BinancePriceMatch::Opponent => Some("OPPONENT"),
        BinancePriceMatch::Opponent5 => Some("OPPONENT_5"),
        BinancePriceMatch::Opponent10 => Some("OPPONENT_10"),
        BinancePriceMatch::Opponent20 => Some("OPPONENT_20"),
        BinancePriceMatch::Queue => Some("QUEUE"),
        BinancePriceMatch::Queue5 => Some("QUEUE_5"),
        BinancePriceMatch::Queue10 => Some("QUEUE_10"),
        BinancePriceMatch::Queue20 => Some("QUEUE_20"),
    }
}

/// Classifies a submit-order error for the rejection event.
///
/// Returns `true` when the venue indicated a post-only (GTX) rejection. Logs
/// a hint when the error matches the UM/CM `dualSidePosition` sync rejection
/// (`-4531`), which is an account/setup mismatch rather than a routing fault.
pub(crate) fn classify_submit_order_error(err: &anyhow::Error) -> bool {
    let venue_code = err
        .downcast_ref::<BinanceFuturesHttpError>()
        .and_then(|be| match be {
            BinanceFuturesHttpError::BinanceError { code, .. } => Some(*code),
            _ => None,
        });

    if venue_code == Some(BINANCE_FUTURES_DUAL_SIDE_SYNC_REJECT_CODE) {
        log::warn!(
            "Order rejected by Binance Futures with code -4531 \
             (UM/CM dualSidePosition sync); confirm Portfolio Margin hedge mode \
             matches the order positionSide before resubmitting"
        );
    }
    venue_code == Some(BINANCE_GTX_ORDER_REJECT_CODE)
}

#[async_trait(?Send)]
impl ExecutionClient for BinanceFuturesExecutionClient {
    fn is_connected(&self) -> bool {
        self.core.is_connected()
    }

    fn client_id(&self) -> ClientId {
        self.core.client_id
    }

    fn account_id(&self) -> AccountId {
        self.core.account_id
    }

    fn venue(&self) -> Venue {
        *BINANCE_VENUE
    }

    fn oms_type(&self) -> OmsType {
        self.core.oms_type
    }

    fn get_account(&self) -> Option<AccountAny> {
        self.core.cache().account_owned(&self.core.account_id)
    }

    async fn connect(&mut self) -> anyhow::Result<()> {
        if self.core.is_connected() && self.session_tasks.is_open() && self.pending_tasks.is_open()
        {
            return Ok(());
        }

        if !self.pending_tasks.is_open() || !self.session_tasks.is_open() {
            self.disconnect().await?;
        }

        if !self.pending_tasks.is_open() {
            self.await_pending_tasks().await?;
            self.pending_tasks.start_generation().map_err(|e| {
                anyhow::anyhow!("Failed to start Binance Futures task generation: {e}")
            })?;
        }

        if !self.session_tasks.is_open() {
            self.await_session_tasks().await?;
            self.await_dispatch_task().await?;
            self.session_tasks.start_generation().map_err(|e| {
                anyhow::anyhow!("Failed to start Binance Futures session generation: {e}")
            })?;
        }

        self.cancellation_token = CancellationToken::new();
        let cancellation_token = self.cancellation_token.clone();
        let ws_client = Arc::clone(&self.ws_client);
        let ws_trading_client = self.ws_trading_client.clone();
        let setup_guard =
            TaskGroupGuard::new(&[&self.session_tasks, &self.pending_tasks], move || {
                cancellation_token.cancel();

                if let Some(client) = ws_client.lock().as_ref() {
                    client.begin_shutdown();
                }

                if let Some(client) = ws_trading_client {
                    client.begin_shutdown();
                }
            });

        let connect_result: anyhow::Result<()> = async {
        // Check hedge mode
        let is_hedge_mode = self
            .init_hedge_mode()
            .await
            .context("failed to query hedge mode")?;
        self.is_hedge_mode.store(is_hedge_mode, Ordering::Release);
        log::info!("Hedge mode (dual side position): {is_hedge_mode}");
        if is_hedge_mode != (self.core.oms_type == OmsType::Hedging) {
            log::warn!(
                "Binance Futures account position mode does not match the configured OMS type: \
                 dual_side_position={is_hedge_mode}, oms_type={:?}; set oms_type to match the account position mode",
                self.core.oms_type,
            );
        }

        let instruments = self
            .http_client
            .request_instruments_with_config(&self.config.instrument_provider)
            .await
            .context("failed to request Binance Futures instruments")?;

        if instruments.is_empty() {
            log::warn!("No instruments returned for Binance Futures");
        } else {
            log::debug!("Loaded {} Futures instruments", instruments.len());
        }
        self.core.set_instruments_initialized();

        self.restore_active_orders()?;

        // Apply configured leverage and margin types
        self.apply_futures_config()
            .await
            .context("failed to apply futures config")?;

        // Create listen key for user data stream
        log::debug!("Creating listen key for user data stream...");
        let listen_key_response = self
            .http_client
            .create_listen_key()
            .await
            .context("failed to create listen key")?;
        let listen_key = listen_key_response.into_listen_key();
        log::debug!("Listen key created successfully");

        {
            let mut key_guard = self.listen_key.write();
            *key_guard = Some(listen_key.clone());
        }

        let (api_key, api_secret) = resolve_credentials(
            self.config
                .api_key
                .as_ref()
                .map(|value| value.expose_secret().to_owned()),
            self.config
                .api_secret
                .as_ref()
                .map(|value| value.expose_secret().to_owned()),
            self.config.environment,
            self.product_type,
        )?;

        let private_base_url = self.config.base_url_ws.clone().map_or_else(
            || get_ws_private_base_url(self.product_type, self.config.environment).to_string(),
            |url| {
                if self.product_type == BinanceProductType::UsdM
                    && self.config.environment == BinanceEnvironment::Live
                {
                    get_usdm_ws_route_base_url(&url, "private")
                } else {
                    url
                }
            },
        );

        let (recovery_tx, recovery_rx) = tokio::sync::mpsc::unbounded_channel::<()>();
        self.recovery_tx = Some(recovery_tx.clone());

        let seen_trade_ids: Arc<Mutex<FifoCache<(ustr::Ustr, i64), 10_000>>> =
            Arc::new(Mutex::new(FifoCache::new()));

        let dispatch_ctx = Arc::new(DispatchCtx {
            emitter: self.emitter.clone(),
            http_client: self.http_client.clone(),
            account_id: self.core.account_id,
            product_type: self.product_type,
            clock: self.clock,
            dispatch_state: self.dispatch_state.clone(),
            triggered_algo_ids: self.triggered_algo_order_ids.clone(),
            use_position_ids: self.config.use_position_ids,
            default_taker_fee: self.config.default_taker_fee,
            bnfcr_currency: self.config.bnfcr_currency,
            treat_expired_as_canceled: self.config.treat_expired_as_canceled,
            use_trade_lite: self.config.use_trade_lite,
            seen_trade_ids,
            cancellation_token: self.cancellation_token.clone(),
        });

        let ws_build_params = WsBuildParams {
            product_type: self.product_type,
            environment: self.config.environment,
            api_key: SecretString::from(api_key.clone()),
            api_secret: SecretString::from(api_secret.clone()),
            private_base_url: private_base_url.clone(),
            transport_backend: self.config.transport_backend,
            proxy_url: self.config.proxy_url.clone(),
            socket_factory: self.socket_factory.clone(),
        };

        let ws_client =
            build_and_connect_user_stream(&ws_build_params, listen_key.expose_secret()).await?;
        let stream = ws_client.stream();
        *self.ws_client.lock() = Some(ws_client);

        self.ws_task
            .lock()
            .await
            .spawn(run_user_stream_dispatch(
                stream,
                dispatch_ctx.clone(),
                recovery_tx.clone(),
                dispatch_user_stream_message,
            ))
            .map_err(|e| anyhow::anyhow!("failed to start user stream dispatch task: {e}"))?;

        // Start listen key keepalive task
        {
            let http_client = self.http_client.clone();
            let listen_key_ref = self.listen_key.clone();
            let cancel = self.cancellation_token.clone();
            let recovery_tx = recovery_tx.clone();

            self.session_tasks.spawn(async move {
                let mut interval =
                    tokio::time::interval(Duration::from_secs(LISTEN_KEY_KEEPALIVE_SECS));
                let mut consecutive_failures: u32 = 0;

                loop {
                    tokio::select! {
                        _ = interval.tick() => {
                            let key = {
                                let guard = listen_key_ref.read();
                                guard.clone()
                            };

                            if let Some(ref key) = key {
                                match http_client.keepalive_listen_key(key.expose_secret()).await {
                                    Ok(()) => {
                                        log::debug!("Listen key keepalive sent successfully");
                                        consecutive_failures = 0;
                                    }
                                    Err(e) => {
                                        consecutive_failures += 1;
                                        log::warn!(
                                            "Listen key keepalive failed ({consecutive_failures}/{MAX_KEEPALIVE_FAILURES}): {e}",
                                        );

                                        if consecutive_failures >= MAX_KEEPALIVE_FAILURES
                                            && recovery_tx.send(()).is_err()
                                        {
                                            log::warn!(
                                                "Recovery channel closed, keepalive exiting",
                                            );
                                            break;
                                        }
                                    }
                                }
                            }
                        }
                        () = cancel.cancelled() => {
                            log::debug!("Listen key keepalive task cancelled");
                            break;
                        }
                    }
                }
            })?;
        }

        // Start listen key recovery driver task
        {
            let recovery_ctx = RecoveryCtx {
                http_client: self.http_client.clone(),
                listen_key: self.listen_key.clone(),
                recovery_listen_key: self.recovery_listen_key.clone(),
                ws_client: self.ws_client.clone(),
                ws_task: self.ws_task.clone(),
                recovery_lock: self.recovery_lock.clone(),
                ws_build_params,
                dispatch_ctx,
                recovery_tx: recovery_tx.clone(),
            };
            let cancel = self.cancellation_token.clone();

            self.session_tasks.spawn(async move {
                run_recovery_driver(
                    recovery_ctx,
                    recovery_rx,
                    cancel,
                    dispatch_user_stream_message,
                )
                .await;
            })?;
        }

        // Request initial account state
        let account_state = self
            .refresh_account_state()
            .await
            .context("failed to request Binance Futures account state")?;

        if !account_state.balances.is_empty() {
            log::debug!(
                "Received account state with {} balance(s) and {} margin(s)",
                account_state.balances.len(),
                account_state.margins.len()
            );
        }

        self.emitter.send_account_state(account_state);

        crate::common::execution::await_account_registered(&self.core, self.core.account_id, 30.0)
            .await?;

        // Connect WS trading client (primary order transport for USD-M)
        if let Some(ref mut ws_trading) = self.ws_trading_client {
            match ws_trading.connect().await {
                Ok(()) => {
                    log::debug!("Connected to Binance Futures WS trading API");

                    let ws_trading_clone = ws_trading.clone();
                    let emitter = self.emitter.clone();
                    let account_id = self.core.account_id;
                    let clock = self.clock;
                    let dispatch_state = self.dispatch_state.clone();

                    self.session_tasks.spawn(async move {
                        while let Some(msg) = ws_trading_clone.recv().await {
                            dispatch_ws_trading_message(
                                msg,
                                &emitter,
                                account_id,
                                clock,
                                &dispatch_state,
                            );
                        }
                    })?;
                }
                Err(e) => {
                    log::warn!(
                        "Failed to connect WS trading API: {e}. \
                         Order operations will use HTTP fallback"
                    );
                }
            }
        }

        let refresh_secs = self.config.instrument_refresh_interval_secs;
        if refresh_secs > 0 {
            let http_client = self.http_client.clone();
            let provider = self.config.instrument_provider.clone();

            self.session_tasks.spawn(async move {
                let mut interval = tokio::time::interval(Duration::from_secs(refresh_secs));
                interval.tick().await;

                loop {
                    interval.tick().await;

                    match http_client.request_instruments_with_config(&provider).await {
                        Ok(instruments) => log::debug!(
                            "Refreshed Binance Futures execution instruments: count={}",
                            instruments.len()
                        ),
                        Err(e) => {
                            log::warn!("Binance Futures execution instrument refresh failed: {e}");
                        }
                    }
                }
            })?;
        }

            Ok(())
        }
        .await;

        if let Err(e) = connect_result {
            self.recovery_tx.take();
            self.cancellation_token.cancel();
            self.abort_session_tasks();
            self.abort_pending_tasks();

            if let Some(client) = self.ws_client.lock().as_ref() {
                client.begin_shutdown();
            }

            if let Some(client) = self.ws_trading_client.as_ref() {
                client.begin_shutdown();
            }

            if let Some(ref mut ws_trading) = self.ws_trading_client
                && let Err(e) = ws_trading.disconnect().await
            {
                self.shutdown_errors.push(format!(
                    "Binance Futures trading WebSocket shutdown failed: {e}"
                ));
            }

            let session_drained = match self.finish_session_tasks().await {
                Ok(()) => true,
                Err(e) => {
                    let drained = matches!(e, TaskShutdownError::Join(_));
                    self.shutdown_errors.push(format!(
                        "Failed to terminate Binance Futures session tasks: {e}"
                    ));
                    drained
                }
            };

            if session_drained && let Err(e) = self.await_dispatch_task().await {
                self.shutdown_errors.push(e.to_string());
            }

            let ws_client = self.ws_client.lock().clone();
            if let Some(mut ws_client) = ws_client {
                match ws_client.close().await {
                    Ok(()) => *self.ws_client.lock() = None,
                    Err(e) => self.shutdown_errors.push(format!(
                        "Binance Futures stream close after failed startup failed: {e}"
                    )),
                }
            }

            if let Err(e) = self
                .close_listen_key_slot(
                    &self.listen_key,
                    "failed to close listen key after failed startup",
                )
                .await
            {
                self.shutdown_errors.push(e.to_string());
            }

            if let Err(e) = self
                .close_listen_key_slot(
                    &self.recovery_listen_key,
                    "failed to close recovery listen key after failed startup",
                )
                .await
            {
                self.shutdown_errors.push(e.to_string());
            }

            if let Err(e) = self.await_pending_tasks().await {
                self.shutdown_errors.push(e.to_string());
            }

            if self.shutdown_errors.is_empty() {
                return Err(e);
            }
            let shutdown_errors = std::mem::take(&mut self.shutdown_errors);
            return Err(e.context(format!(
                "Binance Futures startup teardown failed: {}",
                shutdown_errors.join("; ")
            )));
        }

        setup_guard.disarm();
        self.core.set_connected();
        log::info!("Connected: client_id={}", self.core.client_id);
        Ok(())
    }

    async fn disconnect(&mut self) -> anyhow::Result<()> {
        // Drop the recovery tx so the driver exits its recv loop
        self.recovery_tx.take();

        // Cancel all background tasks
        self.cancellation_token.cancel();
        self.abort_session_tasks();
        self.abort_pending_tasks();

        if let Some(client) = self.ws_client.lock().as_ref() {
            client.begin_shutdown();
        }

        if let Some(client) = self.ws_trading_client.as_ref() {
            client.begin_shutdown();
        }

        if let Some(ref mut ws_trading) = self.ws_trading_client
            && let Err(e) = ws_trading.disconnect().await
        {
            self.shutdown_errors.push(format!(
                "Binance Futures trading WebSocket shutdown failed: {e}"
            ));
        }

        let session_drained = match self.finish_session_tasks().await {
            Ok(()) => true,
            Err(e) => {
                let drained = matches!(e, TaskShutdownError::Join(_));
                self.shutdown_errors.push(format!(
                    "Failed to terminate Binance Futures session tasks: {e}"
                ));
                drained
            }
        };

        if session_drained && let Err(e) = self.await_dispatch_task().await {
            self.shutdown_errors.push(e.to_string());
        }

        // Close WebSocket
        let ws_client = self.ws_client.lock().clone();
        if let Some(mut ws_client) = ws_client {
            match ws_client.close().await {
                Ok(()) => *self.ws_client.lock() = None,
                Err(e) => {
                    self.shutdown_errors
                        .push(format!("Binance Futures stream close failed: {e}"));
                }
            }
        }

        // Close listen key
        if let Err(e) = self
            .close_listen_key_slot(&self.listen_key, "failed to close listen key")
            .await
        {
            self.shutdown_errors.push(e.to_string());
        }

        if let Err(e) = self
            .close_listen_key_slot(
                &self.recovery_listen_key,
                "failed to close recovery listen key",
            )
            .await
        {
            self.shutdown_errors.push(e.to_string());
        }

        if let Err(e) = self.await_pending_tasks().await {
            self.shutdown_errors.push(e.to_string());
        }

        self.core.set_disconnected();

        if !self.shutdown_errors.is_empty() {
            let shutdown_errors = std::mem::take(&mut self.shutdown_errors);
            anyhow::bail!(
                "Binance Futures shutdown failed: {}",
                shutdown_errors.join("; ")
            );
        }
        log::info!("Disconnected: client_id={}", self.core.client_id);
        Ok(())
    }

    async fn generate_order_status_report(
        &self,
        cmd: &GenerateOrderStatusReport,
    ) -> anyhow::Result<Option<OrderStatusReport>> {
        let Some(instrument_id) = cmd.instrument_id else {
            log::warn!("generate_order_status_report requires instrument_id: {cmd}");
            return Ok(None);
        };
        let Some(instrument) = self.http_client.instrument_reconciliation(&instrument_id) else {
            if self.is_instrument_out_of_scope(instrument_id) {
                log::debug!(
                    "Dropping out-of-scope historical Binance Futures order for instrument {instrument_id}"
                );
                return Ok(None);
            }

            anyhow::bail!(
                "Binance Futures order request has unresolved instrument {instrument_id}"
            );
        };

        let symbol = format_binance_symbol(&instrument_id);
        let order_id = cmd
            .venue_order_id
            .as_ref()
            .map(|id| {
                id.inner()
                    .parse::<i64>()
                    .context("failed to parse venue_order_id as numeric")
            })
            .transpose()?;
        let orig_client_order_id = cmd
            .client_order_id
            .map(|id| encode_broker_id(&id, BINANCE_NAUTILUS_FUTURES_BROKER_ID));

        let mut builder = BinanceOrderQueryParamsBuilder::default();
        builder.symbol(symbol);

        if let Some(oid) = order_id {
            builder.order_id(oid);
        }

        if let Some(ref coid) = orig_client_order_id {
            builder.orig_client_order_id(coid.clone());
        }
        let params = builder.build().map_err(|e| anyhow::anyhow!("{e}"))?;

        let price_precision = instrument.price_precision();
        let size_precision = instrument.size_precision();
        let ts_init = self.clock.get_time_ns();
        let algo_lookup = self.resolve_algo_lookup(cmd.client_order_id, cmd.params.as_ref());

        if algo_lookup == BinanceFuturesAlgoLookup::AlgoId {
            let algo_order = self
                .http_client
                .query_algo_order_with_history(
                    instrument_id,
                    cmd.client_order_id,
                    cmd.venue_order_id,
                )
                .await?;

            return match algo_order {
                Some(result) => Ok(Some(create_algo_order_status_report(
                    &result,
                    self.core.account_id,
                    instrument_id,
                    price_precision,
                    size_precision,
                    self.config.treat_expired_as_canceled,
                    self.config.use_position_ids,
                    ts_init,
                )?)),
                None => {
                    log::debug!("Algo order query returned no matching order");
                    Ok(None)
                }
            };
        }

        match self.http_client.query_order(&params).await {
            Ok(order) => {
                let report = order.to_order_status_report(
                    self.core.account_id,
                    instrument_id,
                    price_precision,
                    size_precision,
                    self.config.treat_expired_as_canceled,
                    ts_init,
                )?;
                let venue_position_id = make_venue_position_id(
                    self.config.use_position_ids,
                    instrument_id,
                    order.position_side,
                )?;
                Ok(Some(with_venue_position_id(report, venue_position_id)))
            }
            Err(BinanceFuturesHttpError::BinanceError { code: -2013, .. }) => {
                if algo_lookup == BinanceFuturesAlgoLookup::Skip {
                    log::debug!("Skipping Algo Service fallback for known regular order");
                    return Ok(None);
                }

                // A conditional order may expose its Algo Service `algoId` before triggering and
                // its matching-engine `actualOrderId` afterwards. Only an explicit ID-kind hint
                // makes a venue ID safe for Algo Service lookup; cached conditional orders retain
                // their existing clientAlgoId fallback.
                let algo_venue_order_id = if algo_lookup == BinanceFuturesAlgoLookup::AlgoId {
                    cmd.venue_order_id
                } else {
                    None
                };
                let algo_order = self
                    .http_client
                    .query_algo_order_with_history(
                        instrument_id,
                        cmd.client_order_id,
                        algo_venue_order_id,
                    )
                    .await?;

                match algo_order {
                    Some(result) => Ok(Some(create_algo_order_status_report(
                        &result,
                        self.core.account_id,
                        instrument_id,
                        price_precision,
                        size_precision,
                        self.config.treat_expired_as_canceled,
                        self.config.use_position_ids,
                        ts_init,
                    )?)),
                    None => {
                        log::debug!("Algo order query returned no matching order");
                        Ok(None)
                    }
                }
            }
            Err(e) => Err(e.into()),
        }
    }

    async fn generate_order_status_reports(
        &self,
        cmd: &GenerateOrderStatusReports,
    ) -> anyhow::Result<Vec<OrderStatusReport>> {
        let ts_init = self.clock.get_time_ns();

        if cmd.open_only {
            let mut reports = self
                .generate_open_order_status_reports(cmd.instrument_id, ts_init)
                .await?;

            if reports.iter().any(|report| {
                report.quantity_free_close_position_side.is_some()
                    && !report.report.quantity.is_positive()
            }) {
                let position_cmd = GeneratePositionStatusReportsBuilder::default()
                    .log_receipt_level(cmd.log_receipt_level)
                    .ts_init(ts_init)
                    .instrument_id(cmd.instrument_id)
                    .build()
                    .map_err(|e| anyhow::anyhow!("{e}"))?;
                let position_reports = self.generate_position_status_reports(&position_cmd).await?;
                restore_close_position_quantities(&mut reports, &position_reports);
            }

            crate::common::execution::log_report_receipt(
                reports.len(),
                "OrderStatusReport",
                cmd.log_receipt_level,
            );
            return Ok(reports.into_iter().map(|report| report.report).collect());
        }

        let mut reports = Vec::new();

        if let Some(instrument_id) = cmd.instrument_id
            && self
                .http_client
                .instrument_reconciliation(&instrument_id)
                .is_none()
        {
            if self.is_instrument_out_of_scope(instrument_id) {
                log::debug!(
                    "Dropping out-of-scope Binance Futures order request for instrument {instrument_id}"
                );
                return Ok(reports);
            }

            log::warn!(
                "Dropping historical Binance Futures orders for unresolved instrument {instrument_id}"
            );
            return Ok(reports);
        }

        if let Some(instrument_id) = cmd.instrument_id {
            let Some(instrument) = self.http_client.instrument_reconciliation(&instrument_id)
            else {
                if self.is_instrument_out_of_scope(instrument_id) {
                    log::debug!(
                        "Dropping out-of-scope historical Binance Futures orders for instrument {instrument_id}"
                    );
                } else {
                    log::warn!(
                        "Dropping historical Binance Futures orders for unresolved instrument {instrument_id}"
                    );
                }
                return Ok(reports);
            };
            let symbol = format_binance_symbol(&instrument_id);
            let start_time = cmd
                .start
                .map(|t| t.as_i64() / NANOSECONDS_IN_MILLISECOND as i64);
            let end_time = cmd
                .end
                .map(|t| t.as_i64() / NANOSECONDS_IN_MILLISECOND as i64);

            let mut builder = BinanceAllOrdersParamsBuilder::default();
            builder.symbol(symbol);

            if let Some(st) = start_time {
                builder.start_time(st);
            }

            if let Some(et) = end_time {
                builder.end_time(et);
            }
            let params = builder.build().map_err(|e| anyhow::anyhow!("{e}"))?;

            let orders = self.http_client.query_all_orders(&params).await?;

            for order in orders {
                let report = order.to_order_status_report(
                    self.core.account_id,
                    instrument.id(),
                    instrument.price_precision(),
                    instrument.size_precision(),
                    self.config.treat_expired_as_canceled,
                    ts_init,
                )?;
                let venue_position_id = make_venue_position_id(
                    self.config.use_position_ids,
                    instrument.id(),
                    order.position_side,
                )?;
                reports.push(with_venue_position_id(report, venue_position_id));
            }
        }

        crate::common::execution::log_report_receipt(
            reports.len(),
            "OrderStatusReport",
            cmd.log_receipt_level,
        );
        Ok(reports)
    }

    async fn generate_fill_reports(
        &self,
        cmd: GenerateFillReports,
    ) -> anyhow::Result<Vec<FillReport>> {
        let Some(instrument_id) = cmd.instrument_id else {
            log::warn!("generate_fill_reports requires instrument_id for Binance Futures");
            return Ok(Vec::new());
        };
        let Some(instrument) = self.http_client.instrument_reconciliation(&instrument_id) else {
            if self.is_instrument_out_of_scope(instrument_id) {
                log::debug!(
                    "Dropping out-of-scope historical Binance Futures fills for instrument {instrument_id}"
                );
            } else {
                log::warn!(
                    "Dropping historical Binance Futures fills for unresolved instrument {instrument_id}"
                );
            }
            return Ok(Vec::new());
        };

        let symbol = format_binance_symbol(&instrument_id);
        let mut trades = Vec::new();
        let mut seen_trade_ids = AHashSet::new();
        let order_id = cmd
            .venue_order_id
            .map(|id| {
                id.inner()
                    .parse::<i64>()
                    .context("invalid fill report venue order ID")
            })
            .transpose()?;
        let requested_end_time = cmd
            .end
            .map(|end| end.as_i64() / NANOSECONDS_IN_MILLISECOND as i64);

        if let Some(start) = cmd.start {
            let query_start_time = start.as_i64() / NANOSECONDS_IN_MILLISECOND as i64;
            let query_end_time = requested_end_time.unwrap_or_else(|| {
                self.clock.get_time_ns().as_i64() / NANOSECONDS_IN_MILLISECOND as i64
            });
            anyhow::ensure!(
                query_start_time <= query_end_time,
                "fill report start time must not exceed end time"
            );
            let complete_start = user_trades_complete_start(cmd.ts_init, self.clock.get_time_ns());
            anyhow::ensure!(
                start >= complete_start,
                "Binance Futures fill report range is incomplete: start {start} precedes complete-history boundary {complete_start}"
            );
            let mut window_start = query_start_time;

            loop {
                let window_end = window_start
                    .saturating_add(USER_TRADES_MAX_INTERVAL_MS)
                    .min(query_end_time);
                let mut from_id = None;

                loop {
                    let mut builder = BinanceUserTradesParamsBuilder::default();
                    builder.symbol(symbol.clone());
                    builder.limit(USER_TRADES_PAGE_LIMIT);
                    if let Some(order_id) = order_id {
                        builder.order_id(order_id);
                    }

                    if let Some(cursor) = from_id {
                        builder.from_id(cursor);
                    } else {
                        builder.start_time(window_start);
                        builder.end_time(window_end);
                    }
                    let params = builder.build().map_err(|e| anyhow::anyhow!("{e}"))?;
                    let page = self.http_client.query_user_trades(&params).await?;

                    if page.is_empty() {
                        break;
                    }

                    let page_len = page.len();
                    let max_trade_id = page.iter().map(|trade| trade.id).max().unwrap();
                    let passed_window_end = page.iter().any(|trade| trade.time > window_end);

                    trades.extend(page.into_iter().filter(|trade| {
                        trade.time >= window_start
                            && trade.time <= window_end
                            && seen_trade_ids.insert(trade.id)
                    }));

                    if page_len < USER_TRADES_PAGE_LIMIT as usize || passed_window_end {
                        break;
                    }

                    let next_from_id = max_trade_id
                        .checked_add(1)
                        .context("Binance user trade ID overflow during pagination")?;
                    anyhow::ensure!(
                        from_id.is_none_or(|cursor| next_from_id > cursor),
                        "Binance user-trades pagination made no progress"
                    );
                    from_id = Some(next_from_id);
                }

                if window_end >= query_end_time {
                    break;
                }
                window_start = window_end.saturating_add(1);
            }
        } else {
            anyhow::ensure!(
                cmd.end.is_none(),
                "Binance Futures fill report end time requires start time for a complete range"
            );
            let mut from_id = 0;

            loop {
                let mut builder = BinanceUserTradesParamsBuilder::default();
                builder.symbol(symbol.clone());
                builder.from_id(from_id);
                builder.limit(USER_TRADES_PAGE_LIMIT);
                if let Some(order_id) = order_id {
                    builder.order_id(order_id);
                }
                let params = builder.build().map_err(|e| anyhow::anyhow!("{e}"))?;
                let page = self.http_client.query_user_trades(&params).await?;

                if page.is_empty() {
                    break;
                }

                let page_len = page.len();
                let max_trade_id = page.iter().map(|trade| trade.id).max().unwrap();
                let passed_end = requested_end_time
                    .is_some_and(|end_time| page.iter().any(|trade| trade.time > end_time));

                trades.extend(page.into_iter().filter(|trade| {
                    requested_end_time.is_none_or(|end_time| trade.time <= end_time)
                        && seen_trade_ids.insert(trade.id)
                }));

                if page_len < USER_TRADES_PAGE_LIMIT as usize || passed_end {
                    break;
                }

                let next_from_id = max_trade_id
                    .checked_add(1)
                    .context("Binance user trade ID overflow during pagination")?;
                anyhow::ensure!(
                    next_from_id > from_id,
                    "Binance user-trades pagination made no progress"
                );
                from_id = next_from_id;
            }
        }

        trades.sort_unstable_by_key(|trade| (trade.time, trade.id));
        let ts_init = self.clock.get_time_ns();

        let mut reports = Vec::new();

        for trade in trades {
            if order_id.is_some_and(|order_id| trade.order_id != order_id) {
                continue;
            }
            let venue_position_id = make_venue_position_id(
                self.config.use_position_ids,
                instrument.id(),
                trade.position_side,
            )?;
            let mut report = trade.to_fill_report(
                self.core.account_id,
                instrument.id(),
                instrument.price_precision(),
                instrument.size_precision(),
                self.config.bnfcr_currency,
                ts_init,
            )?;
            report.venue_position_id = venue_position_id;
            reports.push(report);
        }

        crate::common::execution::log_report_receipt(
            reports.len(),
            "FillReport",
            cmd.log_receipt_level,
        );
        Ok(reports)
    }

    async fn generate_position_status_reports(
        &self,
        cmd: &GeneratePositionStatusReports,
    ) -> anyhow::Result<Vec<PositionStatusReport>> {
        if let Some(instrument_id) = cmd.instrument_id
            && self
                .http_client
                .instrument_reconciliation(&instrument_id)
                .is_none()
        {
            if self.is_instrument_out_of_scope(instrument_id) {
                log::debug!(
                    "Dropping out-of-scope Binance Futures position request for instrument {instrument_id}"
                );
                return Ok(Vec::new());
            }
            anyhow::bail!(
                "Binance Futures position request has unresolved instrument {instrument_id}"
            );
        }
        let symbol = cmd.instrument_id.map(|id| format_binance_symbol(&id));

        let mut builder = BinancePositionRiskParamsBuilder::default();

        if let Some(s) = symbol {
            builder.symbol(s);
        }
        let params = builder.build().map_err(|e| anyhow::anyhow!("{e}"))?;

        let positions = self.http_client.query_positions(&params).await?;

        let mut reports = Vec::new();
        let mut position_reports_failed = 0usize;

        for position in positions {
            let instrument_id = format_instrument_id(&position.symbol, self.product_type);

            if self.is_instrument_out_of_scope(instrument_id) {
                log::debug!(
                    "Dropping out-of-scope Binance Futures position for instrument {instrument_id}"
                );
                continue;
            }

            let position_amt = match position.position_amt.parse::<Decimal>() {
                Ok(value) => value,
                Err(e) => {
                    log::warn!(
                        "Failed to parse Futures position_amt for symbol={}: {e}",
                        position.symbol
                    );
                    position_reports_failed += 1;
                    continue;
                }
            };

            if position_amt.is_zero() {
                if self.config.use_position_ids {
                    let position_side = match position.position_side {
                        Some(BinancePositionSide::Long) => PositionSide::Long,
                        Some(BinancePositionSide::Short) => PositionSide::Short,
                        _ => continue,
                    };

                    let venue_position_id =
                        make_venue_position_id(true, instrument_id, position.position_side)?
                            .expect("hedge position sides always produce an ID");

                    if let Err(e) = self.ensure_cached_position_id_compatible(
                        instrument_id,
                        position_side,
                        venue_position_id,
                    ) {
                        log::warn!(
                            "Failed to create Futures position report for symbol={}: {e}",
                            position.symbol
                        );
                        position_reports_failed += 1;
                    }
                }
                continue;
            }

            let Some(instrument) = self.http_client.instrument_reconciliation(&instrument_id)
            else {
                log::warn!(
                    "Failed to create Futures position report for symbol={}: instrument {instrument_id} is unresolved",
                    position.symbol
                );
                position_reports_failed += 1;
                continue;
            };

            match self.create_position_report(
                &position,
                instrument.id(),
                instrument.size_precision(),
            ) {
                Ok(report) => reports.push(report),
                Err(e) => {
                    log::warn!(
                        "Failed to create Futures position report for symbol={}: {e}",
                        position.symbol
                    );
                    position_reports_failed += 1;
                }
            }
        }

        anyhow::ensure!(
            position_reports_failed == 0,
            "Failed to process {position_reports_failed} Binance Futures position reports",
        );

        crate::common::execution::log_report_receipt(
            reports.len(),
            "PositionStatusReport",
            cmd.log_receipt_level,
        );
        Ok(reports)
    }

    async fn generate_mass_status(
        &self,
        lookback_mins: Option<u64>,
    ) -> anyhow::Result<Option<ExecutionMassStatus>> {
        log::info!("Generating ExecutionMassStatus (lookback_mins={lookback_mins:?})");

        let ts_now = self.clock.get_time_ns();

        let requested_start = lookback_mins
            .map(DurationNanos::try_from_mins)
            .transpose()?
            .map(|lookback| ts_now.saturating_sub(lookback));
        let complete_start = user_trades_complete_start(ts_now, ts_now);
        let (report_start, fill_start, mut reports_complete) = match requested_start {
            Some(start) if start < complete_start => (complete_start, Some(complete_start), false),
            Some(start) => (start, Some(start), true),
            None => (complete_start, None, false),
        };

        let position_cmd = GeneratePositionStatusReportsBuilder::default()
            .log_receipt_level(LogLevel::Off)
            .ts_init(ts_now)
            .start(Some(report_start))
            .build()
            .map_err(|e| anyhow::anyhow!("{e}"))?;

        let (mut open_order_reports, position_reports) = tokio::try_join!(
            self.generate_open_order_status_reports(None, ts_now),
            self.generate_position_status_reports(&position_cmd),
        )?;
        restore_close_position_quantities(&mut open_order_reports, &position_reports);
        let order_reports: Vec<_> = open_order_reports
            .into_iter()
            .map(|report| report.report)
            .collect();

        let mut instrument_ids: Vec<_> = order_reports
            .iter()
            .map(|report| report.instrument_id)
            .chain(position_reports.iter().map(|report| report.instrument_id))
            .collect();
        {
            let cache = self.core.cache();
            instrument_ids.extend(
                cache
                    .orders_open(
                        Some(&BINANCE_VENUE),
                        None,
                        None,
                        Some(&self.core.account_id),
                        None,
                    )
                    .into_iter()
                    .map(|order| order.instrument_id()),
            );
            instrument_ids.extend(
                cache
                    .orders_inflight(
                        Some(&BINANCE_VENUE),
                        None,
                        None,
                        Some(&self.core.account_id),
                        None,
                    )
                    .into_iter()
                    .map(|order| order.instrument_id()),
            );
            instrument_ids.extend(
                cache
                    .positions_open(
                        Some(&BINANCE_VENUE),
                        None,
                        None,
                        Some(&self.core.account_id),
                        None,
                    )
                    .into_iter()
                    .map(|position| position.instrument_id),
            );
            instrument_ids.retain(|instrument_id| {
                cache.instrument(instrument_id).is_none_or(|instrument| {
                    is_instrument_for_product(instrument, self.product_type)
                })
            });
        }
        instrument_ids.sort_unstable();
        instrument_ids.dedup();

        let mut fill_reports = Vec::new();

        for instrument_id in instrument_ids {
            if self
                .http_client
                .instrument_reconciliation(&instrument_id)
                .is_none()
            {
                if self.is_instrument_out_of_scope(instrument_id) {
                    log::debug!(
                        "Dropping out-of-scope historical Binance Futures fills for instrument {instrument_id}"
                    );
                } else {
                    log::warn!(
                        "Dropping historical Binance Futures fills for unresolved instrument {instrument_id}"
                    );
                    reports_complete = false;
                }
                continue;
            }
            let fill_cmd = GenerateFillReportsBuilder::default()
                .log_receipt_level(LogLevel::Off)
                .ts_init(ts_now)
                .instrument_id(Some(instrument_id))
                .start(fill_start)
                .build()
                .map_err(|e| anyhow::anyhow!("{e}"))?;
            fill_reports.extend(
                self.generate_fill_reports(fill_cmd)
                    .await?
                    .into_iter()
                    .filter(|report| report.ts_event >= report_start),
            );
        }

        log::info!("Received {} OrderStatusReports", order_reports.len());
        log::info!("Received {} FillReports", fill_reports.len());
        log::info!("Received {} PositionReports", position_reports.len());

        let mut mass_status = ExecutionMassStatus::new(
            self.core.client_id,
            self.core.account_id,
            *BINANCE_VENUE,
            ts_now,
            None,
        );

        mass_status.add_order_reports(order_reports);
        mass_status.add_fill_reports(fill_reports);
        mass_status.add_position_reports(position_reports);
        mass_status.set_report_window(Some(report_start), reports_complete);

        Ok(Some(mass_status))
    }

    fn query_account(&self, _cmd: QueryAccount) -> anyhow::Result<()> {
        self.update_account_state();
        Ok(())
    }

    fn query_order(&self, cmd: QueryOrder) -> anyhow::Result<()> {
        log::debug!("query_order: client_order_id={}", cmd.client_order_id);

        let algo_lookup = self.resolve_algo_lookup(Some(cmd.client_order_id), cmd.params.as_ref());
        let http_client = self.http_client.clone();
        let command = cmd;
        let emitter = self.emitter.clone();
        let account_id = self.core.account_id;
        let clock = self.clock;

        let symbol = format_binance_symbol(&command.instrument_id);
        let order_id = command
            .venue_order_id
            .map(|id| {
                id.inner()
                    .parse::<i64>()
                    .map_err(|e| anyhow::anyhow!("failed to parse venue_order_id: {e}"))
            })
            .transpose()?;
        let orig_client_order_id = Some(encode_broker_id(
            &command.client_order_id,
            BINANCE_NAUTILUS_FUTURES_BROKER_ID,
        ));
        let (price_precision, size_precision) =
            self.get_instrument_precision(command.instrument_id)?;
        let treat_expired_as_canceled = self.config.treat_expired_as_canceled;
        let use_position_ids = self.config.use_position_ids;

        self.spawn_task("query_order", async move {
            if algo_lookup == BinanceFuturesAlgoLookup::AlgoId {
                match http_client
                    .query_algo_order_with_history(
                        command.instrument_id,
                        Some(command.client_order_id),
                        command.venue_order_id,
                    )
                    .await
                {
                    Ok(Some(result)) => {
                        let report = create_algo_order_status_report(
                            &result,
                            account_id,
                            command.instrument_id,
                            price_precision,
                            size_precision,
                            treat_expired_as_canceled,
                            use_position_ids,
                            clock.get_time_ns(),
                        )?;
                        emitter.send_order_status_report(report);
                    }
                    Ok(None) => log::warn!("Algo order query returned no matching order"),
                    Err(e) => log::warn!("Failed to query algo order status: {e}"),
                }

                return Ok(());
            }

            let mut builder = BinanceOrderQueryParamsBuilder::default();
            builder.symbol(symbol.clone());

            if let Some(oid) = order_id {
                builder.order_id(oid);
            }

            if let Some(coid) = orig_client_order_id {
                builder.orig_client_order_id(coid);
            }
            let params = builder
                .build()
                .map_err(|e| anyhow::anyhow!("failed to build order query params: {e}"))?;

            let result = http_client.query_order(&params).await;

            match result {
                Ok(order) => {
                    let ts_init = clock.get_time_ns();
                    let report = order.to_order_status_report(
                        account_id,
                        command.instrument_id,
                        price_precision,
                        size_precision,
                        treat_expired_as_canceled,
                        ts_init,
                    )?;
                    let venue_position_id = make_venue_position_id(
                        use_position_ids,
                        command.instrument_id,
                        order.position_side,
                    )?;

                    emitter.send_order_status_report(with_venue_position_id(
                        report,
                        venue_position_id,
                    ));
                }
                Err(BinanceFuturesHttpError::BinanceError { code: -2013, .. }) => {
                    if algo_lookup == BinanceFuturesAlgoLookup::Skip {
                        log::debug!("Skipping Algo Service fallback for known regular order");
                        return Ok(());
                    }

                    // Untriggered algo orders (STOP_MARKET, STOP_LIMIT, MIT, LIT,
                    // TRAILING_STOP_MARKET) live in the Binance Futures Algo Service
                    // and return -2013 on the regular order endpoint. Mirror the
                    // reconciliation path (`generate_order_status_report`) so live
                    // inflight checks resolve them instead of exhausting retries into
                    // `OrderRejected(reason='INFLIGHT_TIMEOUT')`.
                    let algo_venue_order_id = if algo_lookup == BinanceFuturesAlgoLookup::AlgoId {
                        command.venue_order_id
                    } else {
                        None
                    };

                    match http_client
                        .query_algo_order_with_history(
                            command.instrument_id,
                            Some(command.client_order_id),
                            algo_venue_order_id,
                        )
                        .await
                    {
                        Ok(Some(result)) => {
                            let report = create_algo_order_status_report(
                                &result,
                                account_id,
                                command.instrument_id,
                                price_precision,
                                size_precision,
                                treat_expired_as_canceled,
                                use_position_ids,
                                clock.get_time_ns(),
                            )?;
                            emitter.send_order_status_report(report);
                        }
                        Ok(None) => log::warn!("Algo order query returned no matching order"),
                        Err(e) => log::warn!("Algo order query also failed: {e}"),
                    }
                }
                Err(e) => log::warn!("Failed to query order status: {e}"),
            }

            Ok(())
        });

        Ok(())
    }

    fn generate_account_state(
        &self,
        balances: Vec<AccountBalance>,
        margins: Vec<MarginBalance>,
        reported: bool,
        ts_event: UnixNanos,
        info: Option<Params>,
    ) -> anyhow::Result<()> {
        self.emitter
            .emit_account_state(balances, margins, reported, ts_event, info);
        Ok(())
    }

    fn start(&mut self) -> anyhow::Result<()> {
        if self.core.is_started() {
            return Ok(());
        }

        self.emitter.set_sender(get_exec_event_sender());
        self.core.set_started();

        log::info!(
            "Started: client_id={}, account_id={}, account_type={:?}, environment={:?}",
            self.core.client_id,
            self.core.account_id,
            self.core.account_type,
            self.config.environment,
        );
        Ok(())
    }

    fn stop(&mut self) -> anyhow::Result<()> {
        let was_started = self.core.is_started();
        self.core.set_stopped();
        self.begin_generation_shutdown();

        if was_started {
            log::info!("Stopped: client_id={}", self.core.client_id);
        }
        Ok(())
    }

    fn reset(&mut self) -> anyhow::Result<()> {
        self.begin_generation_shutdown();
        Ok(())
    }

    fn dispose(&mut self) -> anyhow::Result<()> {
        self.begin_generation_shutdown();
        Ok(())
    }

    fn submit_order(&self, cmd: SubmitOrder) -> anyhow::Result<()> {
        let order = self.core.cache().try_order_owned(&cmd.client_order_id)?;

        if order.is_closed() {
            let client_order_id = order.client_order_id();
            log::warn!("Cannot submit closed order {client_order_id}");
            return Ok(());
        }

        let validated = match validate_order(self, &cmd, &order) {
            Ok(validated) => validated,
            Err(reason) => {
                self.emitter.emit_order_denied(&order, &reason.to_string());
                return Ok(());
            }
        };

        self.submit_order_internal(
            &cmd,
            validated.lifetime,
            validated.position_side,
            validated.venue_position_id,
        )
    }

    fn submit_order_list(&self, cmd: SubmitOrderList) -> anyhow::Result<()> {
        if cmd.order_list.client_order_ids.is_empty() {
            log::debug!("submit_order_list called with empty order list");
            return Ok(());
        }

        let orders = self.core.get_orders_for_list(&cmd.order_list)?;

        if let Some(order) = orders.iter().find(|order| order.is_closed()) {
            let reason = format!("Cannot submit closed order {}", order.client_order_id());
            for order in &orders {
                self.emitter.emit_order_denied(order, &reason);
            }
            return Ok(());
        }

        let rpi = cmd
            .params
            .as_ref()
            .and_then(|params| params.get_bool("rpi"))
            .unwrap_or(false);

        if rpi {
            let reason = "rpi is only supported for individual Binance Futures order submission";
            for order in &orders {
                self.emitter.emit_order_denied(order, reason);
            }
            return Ok(());
        }

        let close_position = cmd
            .params
            .as_ref()
            .and_then(|p| p.get_bool(PARAMS_CLOSE_POSITION))
            .unwrap_or(false);
        let price_match = match cmd
            .params
            .as_ref()
            .and_then(|p| p.get_str("price_match"))
            .map(BinancePriceMatch::from_param)
            .transpose()
        {
            Ok(price_match) => price_match,
            Err(e) => {
                for order in &orders {
                    self.emitter.emit_order_denied(order, &e.to_string());
                }
                return Ok(());
            }
        };

        let batch_items = match build_futures_order_list_batch(
            &orders,
            self.is_hedge_mode(),
            close_position,
            price_match,
            self.product_type,
            self.config.use_gtd,
            self.clock.get_time_ns(),
        ) {
            Ok(batch_items) => batch_items,
            Err(reason) => {
                for order in &orders {
                    self.emitter.emit_order_denied(order, &reason);
                }
                return Ok(());
            }
        };

        let venue_position_ids = orders
            .iter()
            .map(|order| {
                resolve_order_position_identity(
                    self.is_hedge_mode(),
                    self.config.use_position_ids,
                    order,
                )
                .map(|(_, venue_position_id)| venue_position_id)
            })
            .collect::<Result<Vec<_>, OrderDeniedReason>>()
            .and_then(|ids| {
                for id in &ids {
                    validate_submit_position_id(cmd.position_id, *id)?;
                }
                Ok(ids)
            });
        let venue_position_ids = match venue_position_ids {
            Ok(ids) => ids,
            Err(reason) => {
                for order in &orders {
                    self.emitter.emit_order_denied(order, &reason.to_string());
                }
                return Ok(());
            }
        };

        for (order, venue_position_id) in orders.iter().zip(venue_position_ids) {
            self.dispatch_state.order_identities.insert(
                order.client_order_id(),
                OrderIdentity {
                    instrument_id: order.instrument_id(),
                    strategy_id: order.strategy_id(),
                    order_side: order.order_side(),
                    order_type: order.order_type(),
                    price: order.price(),
                    quantity: order.quantity(),
                    is_quote_quantity: false,
                    venue_position_id,
                },
            );
            self.emitter.emit_order_submitted(order);
        }

        let http_client = self.http_client.clone();
        let emitter = self.emitter.clone();
        let trader_id = self.core.trader_id;
        let account_id = self.core.account_id;
        let clock = self.clock;
        let dispatch_state = self.dispatch_state.clone();

        self.spawn_task("submit_order_list", async move {
            match http_client.submit_order_list(&batch_items).await {
                Ok(results) => {
                    for (order, result) in orders.iter().zip(results.iter()) {
                        match result {
                            BatchOrderResult::Success(response) => {
                                log::debug!(
                                    "Order-list leg submit accepted: client_order_id={}, venue_order_id={}",
                                    order.client_order_id(),
                                    response.order_id
                                );
                            }
                            BatchOrderResult::Error(error) => {
                                let ts_now = clock.get_time_ns();
                                let client_order_id = order.client_order_id();
                                let rejected = OrderRejected::new(
                                    trader_id,
                                    order.strategy_id(),
                                    order.instrument_id(),
                                    client_order_id,
                                    account_id,
                                    format!(
                                        "submit-order-list-error: code={}, msg={}",
                                        error.code, error.msg
                                    )
                                    .into(),
                                    UUID4::new(),
                                    ts_now,
                                    ts_now,
                                    false,
                                    false,
                                );
                                dispatch_state.cleanup_terminal(client_order_id);
                                emitter.send_order_event(OrderEventAny::Rejected(rejected));
                            }
                        }
                    }
                }
                Err(e) => {
                    let e = anyhow::Error::new(e);
                    let failure = e.downcast_ref::<BinanceFuturesHttpError>().map_or_else(
                        || CommandFailure::Ambiguous(e.to_string()),
                        classify_futures_http_failure,
                    );

                    match failure {
                        CommandFailure::Ambiguous(reason) => {
                            log::warn!(
                                "Ambiguous order-list submit failure, awaiting reconciliation: {reason}"
                            );
                        }
                        CommandFailure::NotSent(reason) | CommandFailure::VenueRejected(reason) => {
                            let ts_now = clock.get_time_ns();
                            let due_post_only = classify_submit_order_error(&e);
                            let reason = sanitize_reason(&reason);

                            for order in &orders {
                                let client_order_id = order.client_order_id();
                                let rejected = OrderRejected::new(
                                    trader_id,
                                    order.strategy_id(),
                                    order.instrument_id(),
                                    client_order_id,
                                    account_id,
                                    format!("submit-order-list-error: {reason}").into(),
                                    UUID4::new(),
                                    ts_now,
                                    ts_now,
                                    false,
                                    due_post_only,
                                );
                                dispatch_state.cleanup_terminal(client_order_id);
                                emitter.send_order_event(OrderEventAny::Rejected(rejected));
                            }
                        }
                    }

                    return Err(e);
                }
            }
            Ok(())
        });

        Ok(())
    }

    fn modify_order(&self, cmd: ModifyOrder) -> anyhow::Result<()> {
        let order = {
            let cache = self.core.cache();
            cache.order(&cmd.client_order_id).map(|o| o.clone())
        };

        let Some(order) = order else {
            log::warn!(
                "Cannot modify order {}: not found in cache",
                cmd.client_order_id
            );
            let ts_init = self.clock.get_time_ns();

            let rejected = OrderModifyRejected::new(
                self.core.trader_id,
                cmd.strategy_id,
                cmd.instrument_id,
                cmd.client_order_id,
                "Order not found in cache for modify".into(),
                UUID4::new(),
                ts_init, // no venue timestamp, rejected locally
                ts_init,
                false,
                cmd.venue_order_id,
                Some(self.core.account_id),
            );

            self.emitter
                .send_order_event(OrderEventAny::ModifyRejected(rejected));
            return Ok(());
        };

        let http_client = self.http_client.clone();
        let emitter = self.emitter.clone();
        let trader_id = self.core.trader_id;
        let account_id = self.core.account_id;
        let instrument_id = cmd.instrument_id;
        let venue_order_id = cmd.venue_order_id;
        let client_order_id = Some(cmd.client_order_id);
        let order_side = order.order_side();
        let quantity = cmd.quantity.unwrap_or_else(|| order.quantity());
        let price = cmd.price.or_else(|| order.price());

        let Some(price) = price else {
            log::warn!(
                "Cannot modify order {}: price required",
                cmd.client_order_id
            );
            let ts_init = self.clock.get_time_ns();

            let rejected = OrderModifyRejected::new(
                self.core.trader_id,
                cmd.strategy_id,
                cmd.instrument_id,
                cmd.client_order_id,
                "Price required for order modification".into(),
                UUID4::new(),
                ts_init, // no venue timestamp, rejected locally
                ts_init,
                false,
                cmd.venue_order_id,
                Some(self.core.account_id),
            );

            self.emitter
                .send_order_event(OrderEventAny::ModifyRejected(rejected));
            return Ok(());
        };
        let command = cmd;
        let clock = self.clock;

        if self.ws_trading_active() {
            let ws_client = self.ws_trading_client.as_ref().unwrap().clone();
            let dispatch_state = self.dispatch_state.clone();

            let binance_side = BinanceSide::try_from(order_side)?;
            let orig_client_order_id =
                client_order_id.map(|id| encode_broker_id(&id, BINANCE_NAUTILUS_FUTURES_BROKER_ID));

            let mut modify_builder = BinanceModifyOrderParamsBuilder::default();
            modify_builder
                .symbol(format_binance_symbol(&instrument_id))
                .side(binance_side)
                .quantity(quantity.to_string())
                .price(price.to_string());

            if let Some(venue_id) = venue_order_id {
                let order_id: i64 = venue_id
                    .inner()
                    .parse()
                    .context("failed to parse venue_order_id as numeric")?;
                modify_builder.order_id(order_id);
            }

            if let Some(client_id) = orig_client_order_id {
                modify_builder.orig_client_order_id(client_id);
            }

            let params = modify_builder
                .build()
                .context("failed to build modify params")?;

            // Pre-register before sending to avoid response racing the insert
            let request_id = ws_client.next_request_id();
            dispatch_state.pending_requests.insert(
                request_id.clone(),
                PendingRequest {
                    client_order_id: command.client_order_id,
                    venue_order_id,
                    operation: PendingOperation::Modify,
                },
            );

            let http_client = self.http_client.clone();
            self.spawn_task("modify_order_ws", async move {
                let mut params = params;
                http_client
                    .inner()
                    .resolve_order_identity(
                        &params.symbol,
                        &mut params.order_id,
                        &mut params.orig_client_order_id,
                    )
                    .await
                    .inspect_err(|e| {
                        dispatch_state.pending_requests.remove(&request_id);
                        let ts_now = clock.get_time_ns();

                        let rejected = OrderModifyRejected::new(
                            trader_id,
                            command.strategy_id,
                            command.instrument_id,
                            command.client_order_id,
                            format!(
                                "modify identity lookup failed before submission: {}",
                                sanitize_reason(&e.to_string())
                            )
                            .into(),
                            UUID4::new(),
                            ts_now,
                            ts_now,
                            false,
                            command.venue_order_id,
                            Some(account_id),
                        );
                        emitter.send_order_event(OrderEventAny::ModifyRejected(rejected));
                    })?;

                let result = ws_client
                    .modify_order_with_id(request_id.clone(), params)
                    .await;

                if let Err(e) = result {
                    dispatch_state.pending_requests.remove(&request_id);
                    log::warn!(
                        "WS modify request failed for {}: {e}",
                        command.client_order_id
                    );
                    anyhow::bail!("WS modify order failed: {e}");
                }
                Ok(())
            });

            return Ok(());
        }

        let dispatch_state = self.dispatch_state.clone();
        self.spawn_task("modify_order", async move {
            let result = http_client
                .modify_order(
                    account_id,
                    instrument_id,
                    venue_order_id,
                    client_order_id,
                    order_side,
                    quantity,
                    price,
                )
                .await;

            match result {
                Ok(report) => {
                    if dispatch_state.record_order_update(command.client_order_id, report.venue_order_id, quantity, price, None) != Some(true) {
                        return Ok(());
                    }
                    let ts_now = clock.get_time_ns();
                    let updated_event = OrderUpdated::new(
                        trader_id,
                        command.strategy_id,
                        command.instrument_id,
                        command.client_order_id,
                        quantity,
                        UUID4::new(),
                        ts_now,
                        ts_now,
                        false,
                        Some(report.venue_order_id),
                        Some(account_id),
                        Some(price),
                        None,
                        None,
                        false, // is_quote_quantity
                    );

                    emitter.send_order_event(OrderEventAny::Updated(updated_event));
                }
                Err(e) => {
                    let failure = e.downcast_ref::<BinanceFuturesHttpError>().map_or_else(
                        || CommandFailure::Ambiguous(e.to_string()),
                        classify_futures_http_failure,
                    );

                    match failure {
                        CommandFailure::Ambiguous(reason) => {
                            log::warn!(
                                "Ambiguous modify failure for {}, awaiting reconciliation: {reason}",
                                command.client_order_id
                            );
                        }
                        CommandFailure::NotSent(reason) | CommandFailure::VenueRejected(reason) => {
                            let ts_now = clock.get_time_ns();

                            let rejected = OrderModifyRejected::new(
                                trader_id,
                                command.strategy_id,
                                command.instrument_id,
                                command.client_order_id,
                                format!("modify-order-error: {}", sanitize_reason(&reason)).into(),
                                UUID4::new(),
                                ts_now,
                                ts_now,
                                false,
                                command.venue_order_id,
                                Some(account_id),
                            );

                            emitter.send_order_event(OrderEventAny::ModifyRejected(rejected));
                        }
                    }

                    anyhow::bail!("Modify order failed: {e}");
                }
            }

            Ok(())
        });

        Ok(())
    }

    fn cancel_order(&self, cmd: CancelOrder) -> anyhow::Result<()> {
        self.cancel_order_internal(&cmd);
        Ok(())
    }

    fn cancel_all_orders(&self, cmd: CancelAllOrders) -> anyhow::Result<()> {
        if cmd.order_side.is_some() {
            return self.cancel_all_orders_for_side(&cmd);
        }

        let http_client = self.http_client.clone();
        let instrument_id = cmd.instrument_id;

        // USD-M Futures WS Trading API does not expose an openOrders.cancelAll
        // method, so regular and algo cancel-all both go through HTTP.
        self.spawn_task("cancel_all_orders", async move {
            match http_client.cancel_all_orders(instrument_id).await {
                Ok(_) => {
                    log::debug!("Cancel all regular orders request accepted for {instrument_id}");
                }
                Err(e) => {
                    log::error!("Failed to cancel all regular orders for {instrument_id}: {e}");
                }
            }

            match http_client.cancel_all_algo_orders(instrument_id).await {
                Ok(()) => {
                    log::debug!("Cancel all algo orders request accepted for {instrument_id}");
                }
                Err(e) => {
                    log::error!("Failed to cancel all algo orders for {instrument_id}: {e}");
                }
            }

            Ok(())
        });

        Ok(())
    }

    fn batch_cancel_orders(&self, cmd: BatchCancelOrders) -> anyhow::Result<()> {
        const BATCH_SIZE: usize = 10;

        if cmd.cancels.is_empty() {
            return Ok(());
        }

        let http_client = self.http_client.clone();
        let command = cmd;

        let emitter = self.emitter.clone();
        let trader_id = self.core.trader_id;
        let account_id = self.core.account_id;
        let clock = self.clock;

        self.spawn_task("batch_cancel_orders", async move {
            let symbol = format_binance_symbol(&command.instrument_id);

            for chunk in command.cancels.chunks(BATCH_SIZE) {
                let mut order_id_batch = Vec::new();
                let mut client_order_id_batch = Vec::new();

                for cancel in chunk {
                    if let Some(venue_order_id) = cancel.venue_order_id {
                        let order_id = venue_order_id.inner().parse::<i64>().unwrap_or(0);
                        if order_id != 0 {
                            order_id_batch.push((
                                BatchCancelItem::by_order_id(symbol.clone(), order_id),
                                cancel.clone(),
                            ));
                            continue;
                        }
                    }

                    client_order_id_batch.push((
                        BatchCancelItem::by_client_order_id(
                            symbol.clone(),
                            encode_broker_id(
                                &cancel.client_order_id,
                                BINANCE_NAUTILUS_FUTURES_BROKER_ID,
                            ),
                        ),
                        cancel.clone(),
                    ));
                }

                for batch in [order_id_batch, client_order_id_batch] {
                    if batch.is_empty() {
                        continue;
                    }

                    let batch_len = batch.len();
                    let (batch_items, batch_cancels): (Vec<_>, Vec<_>) =
                        batch.into_iter().unzip();

                    match http_client.batch_cancel_orders(&batch_items).await {
                        Ok(results) => {
                            for (cancel, result) in batch_cancels.iter().zip(results.iter()) {
                                match result {
                                    BatchOrderResult::Success(response) => {
                                        let venue_order_id =
                                            VenueOrderId::new(response.order_id.to_string());
                                        let canceled_event = OrderCanceled::new(
                                            trader_id,
                                            cancel.strategy_id,
                                            cancel.instrument_id,
                                            cancel.client_order_id,
                                            UUID4::new(),
                                            cancel.ts_init,
                                            clock.get_time_ns(),
                                            false,
                                            Some(venue_order_id),
                                            Some(account_id),
                                            None,
                                        );

                                        emitter.send_order_event(OrderEventAny::Canceled(
                                            canceled_event,
                                        ));
                                    }
                                    BatchOrderResult::Error(error) => {
                                        let rejected = OrderCancelRejected::new(
                                            trader_id,
                                            cancel.strategy_id,
                                            cancel.instrument_id,
                                            cancel.client_order_id,
                                            format!(
                                                "batch-cancel-error: code={}, msg={}",
                                                error.code, error.msg
                                            )
                                            .into(),
                                            UUID4::new(),
                                            clock.get_time_ns(),
                                            cancel.ts_init,
                                            false,
                                            cancel.venue_order_id,
                                            Some(account_id),
                                        );

                                        emitter.send_order_event(OrderEventAny::CancelRejected(
                                            rejected,
                                        ));
                                    }
                                }
                            }
                        }
                        Err(e) => {
                            match classify_futures_http_failure(&e) {
                                CommandFailure::NotSent(reason) => {
                                    for cancel in &batch_cancels {
                                        let ts_now = clock.get_time_ns();

                                        let rejected = OrderCancelRejected::new(
                                            trader_id,
                                            cancel.strategy_id,
                                            cancel.instrument_id,
                                            cancel.client_order_id,
                                            format!("batch-cancel-error: {}", sanitize_reason(&reason)).into(),
                                            UUID4::new(),
                                            ts_now,
                                            ts_now,
                                            false,
                                            cancel.venue_order_id,
                                            Some(account_id),
                                        );
                                        emitter.send_order_event(OrderEventAny::CancelRejected(rejected));
                                    }
                                }
                                CommandFailure::VenueRejected(reason)
                                | CommandFailure::Ambiguous(reason) => {
                                    log::warn!(
                                        "Batch cancel request failure for {batch_len} orders, awaiting reconciliation: {reason}",
                                    );
                                }
                            }
                        }
                    }
                }
            }

            Ok(())
        });

        Ok(())
    }
}

fn validate_order(
    client: &BinanceFuturesExecutionClient,
    cmd: &SubmitOrder,
    order: &OrderAny,
) -> Result<ValidatedOrder, OrderDeniedReason> {
    order_type_to_binance_futures(order.order_type()).map_err(|_| {
        OrderDeniedReason::UnsupportedOrderType {
            order_type: order.order_type(),
        }
    })?;

    if let Some(offset_type) = order.trailing_offset_type() {
        if offset_type != TrailingOffsetType::BasisPoints {
            return Err(OrderDeniedReason::UnsupportedTrailingOffsetType { offset_type });
        }

        if let Some(offset) = order.trailing_offset() {
            trailing_offset_to_callback_rate(offset).map_err(|e| {
                OrderDeniedReason::ValidationFailed {
                    detail: format!("invalid trailing offset {offset}: {e}"),
                }
            })?;
        }
    }

    let close_position = cmd
        .params
        .as_ref()
        .and_then(|params| params.get_bool(PARAMS_CLOSE_POSITION))
        .unwrap_or(false);

    let rpi = cmd
        .params
        .as_ref()
        .and_then(|params| params.get_bool("rpi"))
        .unwrap_or(false);

    if rpi {
        if client.product_type != BinanceProductType::UsdM {
            return Err(OrderDeniedReason::ValidationFailed {
                detail: "rpi is only supported for Binance USD-M Futures".to_string(),
            });
        }

        if order.order_type() != OrderType::Limit {
            return Err(OrderDeniedReason::ValidationFailed {
                detail: "rpi is only supported for LIMIT orders".to_string(),
            });
        }

        if !order.is_post_only() {
            return Err(OrderDeniedReason::ValidationFailed {
                detail: "rpi requires post_only=true".to_string(),
            });
        }
    }

    if close_position {
        let order_type = order.order_type();

        if !order.is_reduce_only() {
            return Err(OrderDeniedReason::ValidationFailed {
                detail: "`close_position` requires `reduce_only=true` on the Nautilus order"
                    .to_string(),
            });
        }

        if !matches!(
            order_type,
            OrderType::StopMarket | OrderType::MarketIfTouched
        ) {
            return Err(OrderDeniedReason::ValidationFailed {
                detail: format!(
                    "`close_position` is not supported for order type {order_type:?} on Binance"
                ),
            });
        }
    }

    if let Some(price_match) = cmd
        .params
        .as_ref()
        .and_then(|params| params.get_str("price_match"))
    {
        BinancePriceMatch::from_param(price_match).map_err(|e| {
            OrderDeniedReason::ValidationFailed {
                detail: format!("invalid price_match '{price_match}': {e}"),
            }
        })?;
        let order_type = order.order_type();

        if order.is_post_only() {
            return Err(OrderDeniedReason::unsupported_post_only());
        }

        if order_type != OrderType::Limit {
            return Err(OrderDeniedReason::ValidationFailed {
                detail: format!("price_match is not supported for order type {order_type:?}"),
            });
        }
    }

    let lifetime = determine_futures_order_lifetime(
        client.product_type,
        order.order_type(),
        order.time_in_force(),
        order.expire_time(),
        order.is_post_only(),
        client.config.use_gtd,
        client.clock.get_time_ns(),
    )?;

    if !order.is_post_only() || is_algo_order_type(order.order_type()) {
        BinanceTimeInForce::try_from(lifetime.time_in_force)
            .map_err(|_| OrderDeniedReason::UnsupportedTimeInForce(order.time_in_force()))?;
    }
    let (position_side, venue_position_id) = resolve_order_position_identity(
        client.is_hedge_mode(),
        client.config.use_position_ids,
        order,
    )?;
    validate_submit_position_id(cmd.position_id, venue_position_id)?;

    Ok(ValidatedOrder {
        lifetime,
        position_side,
        venue_position_id,
    })
}

struct ValidatedOrder {
    lifetime: FuturesOrderLifetime,
    position_side: Option<BinancePositionSide>,
    venue_position_id: Option<PositionId>,
}

#[derive(Clone, Copy, Debug, Eq, PartialEq)]
enum BinanceFuturesAlgoLookup {
    Skip,
    AlgoId,
    ClientAlgoId,
}

#[derive(Clone, Copy, Debug, Eq, PartialEq)]
struct FuturesOrderLifetime {
    time_in_force: TimeInForce,
    good_till_date: Option<i64>,
}

struct OpenOrderStatusReport {
    report: OrderStatusReport,
    quantity_free_close_position_side: Option<PositionSide>,
}

#[allow(
    clippy::too_many_arguments,
    reason = "the converter receives one cohesive set of report conversion inputs"
)]
fn create_algo_order_status_report(
    result: &BinanceFuturesAlgoOrderQueryResult,
    account_id: AccountId,
    instrument_id: InstrumentId,
    price_precision: u8,
    size_precision: u8,
    treat_expired_as_canceled: bool,
    use_position_ids: bool,
    ts_init: UnixNanos,
) -> anyhow::Result<OrderStatusReport> {
    let position_side = result
        .actual
        .as_ref()
        .and_then(|actual| actual.position_side)
        .or(result.algo.position_side);
    let venue_position_id = make_venue_position_id(use_position_ids, instrument_id, position_side)?;

    if let Some(actual) = result.actual.as_ref() {
        match result.algo.to_order_status_report_with_actual(
            actual,
            account_id,
            instrument_id,
            price_precision,
            size_precision,
            treat_expired_as_canceled,
            ts_init,
        ) {
            Ok(report) => return Ok(with_venue_position_id(report, venue_position_id)),
            Err(e) => {
                log::warn!(
                    "Failed to convert matching-engine enrichment for algo order {}: {e}; falling back to Algo Service report",
                    result.algo.algo_id
                );
            }
        }
    }

    let report = result.algo.to_order_status_report(
        account_id,
        instrument_id,
        price_precision,
        size_precision,
        ts_init,
    )?;
    Ok(with_venue_position_id(report, venue_position_id))
}

fn user_trades_complete_start(ts_init: UnixNanos, ts_now: UnixNanos) -> UnixNanos {
    let oldest_reference = ts_now.saturating_sub(USER_TRADES_MAX_TS_INIT_AGE);
    ts_init
        .max(oldest_reference)
        .saturating_sub(USER_TRADES_COMPLETE_INTERVAL)
}

fn should_retry_regular_cancel(client_order_id: ClientOrderId, error: &anyhow::Error) -> bool {
    let encoded = encode_broker_id(&client_order_id, BINANCE_NAUTILUS_FUTURES_BROKER_ID);
    legacy_client_order_id(&encoded, BINANCE_NAUTILUS_FUTURES_BROKER_ID).is_none()
        || matches!(
            error.downcast_ref::<BinanceFuturesHttpError>(),
            Some(BinanceFuturesHttpError::BinanceError {
                code: -2011 | -2013,
                ..
            })
        )
}

fn should_use_algo_cancel(is_algo: bool, is_triggered: bool, has_promoted_id: bool) -> bool {
    is_algo && !is_triggered && !has_promoted_id
}

fn cancel_venue_order_id(
    is_algo: bool,
    venue_order_id: Option<VenueOrderId>,
    promoted_algo_order_id: Option<VenueOrderId>,
) -> Option<VenueOrderId> {
    if is_algo {
        promoted_algo_order_id
    } else {
        venue_order_id
    }
}

fn is_instrument_for_product(instrument: &InstrumentAny, product_type: BinanceProductType) -> bool {
    match product_type {
        BinanceProductType::UsdM => {
            matches!(
                instrument,
                InstrumentAny::CryptoFuture(_)
                    | InstrumentAny::CryptoPerpetual(_)
                    | InstrumentAny::PerpetualContract(_)
            ) && !instrument.is_inverse()
        }
        BinanceProductType::CoinM => {
            matches!(
                instrument,
                InstrumentAny::CryptoFuture(_) | InstrumentAny::CryptoPerpetual(_)
            ) && instrument.is_inverse()
        }
        _ => false,
    }
}

#[cfg(test)]
mod tests {
    use std::{
        cell::RefCell,
        collections::HashMap,
        rc::Rc,
        sync::{
            Arc,
            atomic::{AtomicUsize, Ordering},
        },
    };

    use nautilus_common::{cache::Cache, clients::ExecutionClient, messages::ExecutionEvent};
    use nautilus_live::ExecutionClientCore;
    use nautilus_model::{
        enums::{AccountType, OmsType, OrderSide, OrderType},
        events::OrderEventAny,
        identifiers::{AccountId, ClientOrderId, InstrumentId, StrategyId, TraderId, VenueOrderId},
        instruments::stubs::{
            btcusd_bybit, crypto_future_btcusdt, crypto_perpetual_ethusdt, currency_pair_btcusdt,
            perpetual_contract_eurusd,
        },
        orders::{OrderTestBuilder, stubs::TestOrderEventStubs},
        types::{Price, Quantity},
    };
    use rstest::rstest;

    use super::*;
    use crate::{
        common::{
            consts::{
                BINANCE_CLIENT_ID, BINANCE_STATUS_UNKNOWN_CODE, BINANCE_UNEXPECTED_RESPONSE_CODE,
                BINANCE_VENUE,
            },
            enums::BinanceProductType,
            testing::load_fixture_string,
        },
        config::BinanceExecutionClientConfig,
    };

    fn http_error(code: i64) -> anyhow::Error {
        anyhow::Error::new(BinanceFuturesHttpError::BinanceError {
            code,
            message: format!("test error {code}"),
            status: 400,
            retry_after: None,
        })
    }

    #[rstest]
    #[case(None, Some("BTCUSDT-PERP.BINANCE-LONG"))]
    #[case(Some("BTCUSDT-PERP.BINANCE-LONG"), Some("BTCUSDT-PERP.BINANCE-LONG"))]
    #[case(Some("P-VIRTUAL-LONG"), None)]
    fn test_validate_submit_position_id_accepts_compatible_identity(
        #[case] submitted_position_id: Option<&str>,
        #[case] venue_position_id: Option<&str>,
    ) {
        validate_submit_position_id(
            submitted_position_id.map(PositionId::from),
            venue_position_id.map(PositionId::from),
        )
        .unwrap();
    }

    #[rstest]
    fn test_validate_submit_position_id_rejects_custom_venue_identity() {
        let error = validate_submit_position_id(
            Some(PositionId::from("P-VIRTUAL-LONG")),
            Some(PositionId::from("BTCUSDT-PERP.BINANCE-LONG")),
        )
        .unwrap_err();

        assert_eq!(
            error.to_string(),
            "INVALID_POSITION_ID: P-VIRTUAL-LONG; conflicts with canonical Binance Futures venue position ID BTCUSDT-PERP.BINANCE-LONG; omit position_id while use_position_ids=true, or set use_position_ids=false for virtual hedging",
        );
    }

    #[rstest]
    fn test_create_account_state_preserves_info_decimal_values() {
        let json = load_fixture_string("futures/http_json/account_info_v2.json");
        let mut account_info: BinanceFuturesAccountInfo = serde_json::from_str(&json).unwrap();
        account_info.total_wallet_balance = Some("1.0000000000000001".parse().unwrap());
        account_info.total_margin_balance = Some("2.0000000000000002".parse().unwrap());
        account_info.total_initial_margin = Some("3.0000000000000003".parse().unwrap());
        account_info.total_maint_margin = Some("4.0000000000000004".parse().unwrap());
        account_info.total_unrealized_profit = Some("5.0000000000000005".parse().unwrap());
        account_info.total_cross_wallet_balance = Some("6.0000000000000006".parse().unwrap());
        account_info.total_cross_un_pnl = Some("7.0000000000000007".parse().unwrap());
        account_info.available_balance = Some("8.0000000000000008".parse().unwrap());
        account_info.max_withdraw_amount = Some("9.0000000000000009".parse().unwrap());

        let state = BinanceFuturesExecutionClient::create_account_state_from(
            &account_info,
            AccountId::from("BINANCE-001"),
            AccountType::Margin,
            Currency::USDT(),
            get_atomic_clock_realtime(),
        );

        let info = state.info.as_ref().unwrap();
        assert_eq!(info.len(), 9);
        assert_eq!(
            info.get_str("total_wallet_balance"),
            Some("1.0000000000000001")
        );
        assert_eq!(
            info.get_str("total_margin_balance"),
            Some("2.0000000000000002")
        );
        assert_eq!(
            info.get_str("total_initial_margin"),
            Some("3.0000000000000003")
        );
        assert_eq!(
            info.get_str("total_maint_margin"),
            Some("4.0000000000000004")
        );
        assert_eq!(
            info.get_str("total_unrealized_profit"),
            Some("5.0000000000000005")
        );
        assert_eq!(
            info.get_str("total_cross_wallet_balance"),
            Some("6.0000000000000006")
        );
        assert_eq!(
            info.get_str("total_cross_unpnl"),
            Some("7.0000000000000007")
        );
        assert_eq!(
            info.get_str("available_balance"),
            Some("8.0000000000000008")
        );
        assert_eq!(
            info.get_str("max_withdraw_amount"),
            Some("9.0000000000000009")
        );
    }

    #[rstest]
    #[case(-2011, true)]
    #[case(-2013, true)]
    #[case(-2015, false)]
    #[case(-1007, false)]
    fn test_tagged_algo_cancel_fallback_requires_missing_order(
        #[case] code: i64,
        #[case] expected: bool,
    ) {
        let id = ClientOrderId::new("O-20260922-160119-V2-000-8");
        let error = anyhow::anyhow!(BinanceFuturesHttpError::BinanceError {
            code,
            message: "test".to_string(),
            status: 400,
            retry_after: None,
        });
        assert_eq!(should_retry_regular_cancel(id, &error), expected);
        assert!(!should_retry_regular_cancel(
            id,
            &anyhow::anyhow!(BinanceFuturesHttpError::Timeout("lookup".into()))
        ));
        assert!(!should_retry_regular_cancel(
            id,
            &anyhow::anyhow!(BinanceFuturesHttpError::ValidationError(
                "ambiguous identity".into()
            ))
        ));
        assert!(should_retry_regular_cancel(
            ClientOrderId::new("legacy-order"),
            &error
        ));
    }

    #[rstest]
    #[case::regular(false, false, false, false)]
    #[case::untriggered_algo(true, false, false, true)]
    #[case::triggered_algo(true, true, false, false)]
    #[case::promoted_algo(true, false, true, false)]
    fn test_should_use_algo_cancel(
        #[case] is_algo: bool,
        #[case] is_triggered: bool,
        #[case] has_promoted_id: bool,
        #[case] expected: bool,
    ) {
        assert_eq!(
            should_use_algo_cancel(is_algo, is_triggered, has_promoted_id),
            expected
        );
    }

    #[rstest]
    #[case::not_close(BinanceSide::Sell, Some(BinancePositionSide::Long), false, None, None)]
    #[case::positive_quantity(
        BinanceSide::Sell,
        Some(BinancePositionSide::Long),
        true,
        Some("0.001"),
        None
    )]
    #[case::hedge_long(
        BinanceSide::Sell,
        Some(BinancePositionSide::Long),
        true,
        None,
        Some(PositionSide::Long)
    )]
    #[case::hedge_long_zero(
        BinanceSide::Sell,
        Some(BinancePositionSide::Long),
        true,
        Some("0.0000"),
        Some(PositionSide::Long)
    )]
    #[case::hedge_short(
        BinanceSide::Buy,
        Some(BinancePositionSide::Short),
        true,
        None,
        Some(PositionSide::Short)
    )]
    #[case::invalid_hedge_long(BinanceSide::Buy, Some(BinancePositionSide::Long), true, None, None)]
    #[case::invalid_hedge_short(
        BinanceSide::Sell,
        Some(BinancePositionSide::Short),
        true,
        None,
        None
    )]
    #[case::one_way_long(
        BinanceSide::Sell,
        Some(BinancePositionSide::Both),
        true,
        None,
        Some(PositionSide::Long)
    )]
    #[case::one_way_short(
        BinanceSide::Buy,
        Some(BinancePositionSide::Both),
        true,
        None,
        Some(PositionSide::Short)
    )]
    #[case::missing_side(BinanceSide::Buy, None, true, None, Some(PositionSide::Short))]
    #[case::unknown_side(
        BinanceSide::Sell,
        Some(BinancePositionSide::Unknown),
        true,
        None,
        None
    )]
    fn test_quantity_free_close_position_side(
        #[case] side: BinanceSide,
        #[case] position_side: Option<BinancePositionSide>,
        #[case] close_position: bool,
        #[case] quantity: Option<&str>,
        #[case] expected: Option<PositionSide>,
    ) {
        let json = load_fixture_string("futures/http_json/open_algo_orders.json");
        let mut orders: Vec<BinanceFuturesAlgoOrder> = serde_json::from_str(&json).unwrap();
        let mut order = orders.remove(0);
        order.side = side;
        order.position_side = position_side;
        order.close_position = Some(close_position);
        order.quantity = quantity.map(str::to_string);

        assert_eq!(quantity_free_close_position_side(&order), expected);
    }

    #[rstest]
    #[case::regular(
        false,
        Some(VenueOrderId::from("8886774")),
        None,
        Some(VenueOrderId::from("8886774"))
    )]
    #[case::unpromoted_algo(true, Some(VenueOrderId::from("2148719")), None, None)]
    #[case::promoted(
        true,
        Some(VenueOrderId::from("2148719")),
        Some(VenueOrderId::from("22542179")),
        Some(VenueOrderId::from("22542179"))
    )]
    fn test_cancel_venue_order_id(
        #[case] is_algo: bool,
        #[case] venue_order_id: Option<VenueOrderId>,
        #[case] promoted_algo_order_id: Option<VenueOrderId>,
        #[case] expected: Option<VenueOrderId>,
    ) {
        assert_eq!(
            cancel_venue_order_id(is_algo, venue_order_id, promoted_algo_order_id),
            expected
        );
    }

    #[rstest]
    fn test_classify_submit_order_error_gtx_is_post_only() {
        let err = http_error(BINANCE_GTX_ORDER_REJECT_CODE);
        assert!(classify_submit_order_error(&err));
    }

    #[rstest]
    fn test_futures_order_lifetime_encodes_valid_usdm_gtd() {
        let ts_now = UnixNanos::from_seconds(1_700_000_000);
        let expire_time = UnixNanos::from_seconds(1_700_000_601);

        let lifetime = determine_futures_order_lifetime(
            BinanceProductType::UsdM,
            OrderType::Limit,
            TimeInForce::Gtd,
            Some(expire_time),
            false,
            true,
            ts_now,
        )
        .unwrap();

        assert_eq!(lifetime.time_in_force, TimeInForce::Gtd);
        assert_eq!(lifetime.good_till_date, Some(1_700_000_601_000));
    }

    #[rstest]
    #[case::minimum(
        BinanceProductType::UsdM,
        OrderType::Limit,
        UnixNanos::from_seconds(1_700_000_600),
        false,
        "strictly greater"
    )]
    #[case::subsecond(
        BinanceProductType::UsdM,
        OrderType::Limit,
        UnixNanos::from(1_700_000_601_000_000_001),
        false,
        "whole-second precision"
    )]
    #[case::coin_m(
        BinanceProductType::CoinM,
        OrderType::Limit,
        UnixNanos::from_seconds(1_700_000_601),
        false,
        "does not support native GTD"
    )]
    #[case::market(
        BinanceProductType::UsdM,
        OrderType::Market,
        UnixNanos::from_seconds(1_700_000_601),
        false,
        "does not support GTD for order type Market"
    )]
    #[case::post_only(
        BinanceProductType::UsdM,
        OrderType::Limit,
        UnixNanos::from_seconds(1_700_000_601),
        true,
        "UNSUPPORTED_POST_ONLY"
    )]
    fn test_futures_order_lifetime_rejects_invalid_gtd(
        #[case] product_type: BinanceProductType,
        #[case] order_type: OrderType,
        #[case] expire_time: UnixNanos,
        #[case] post_only: bool,
        #[case] expected: &str,
    ) {
        let error = determine_futures_order_lifetime(
            product_type,
            order_type,
            TimeInForce::Gtd,
            Some(expire_time),
            post_only,
            true,
            UnixNanos::from_seconds(1_700_000_000),
        )
        .unwrap_err();

        assert!(error.to_string().contains(expected));
    }

    #[rstest]
    #[case::coin_m_limit(BinanceProductType::CoinM, OrderType::Limit, false)]
    #[case::usd_m_market(BinanceProductType::UsdM, OrderType::Market, false)]
    #[case::usd_m_post_only(BinanceProductType::UsdM, OrderType::Limit, true)]
    fn test_futures_order_lifetime_maps_locally_managed_gtd_to_gtc(
        #[case] product_type: BinanceProductType,
        #[case] order_type: OrderType,
        #[case] post_only: bool,
    ) {
        let lifetime = determine_futures_order_lifetime(
            product_type,
            order_type,
            TimeInForce::Gtd,
            Some(UnixNanos::from_seconds(1_700_000_601)),
            post_only,
            false,
            UnixNanos::from_seconds(1_700_000_000),
        )
        .unwrap();

        assert_eq!(lifetime.time_in_force, TimeInForce::Gtc);
        assert_eq!(lifetime.good_till_date, None);
    }

    #[rstest]
    fn test_futures_order_lifetime_requires_expire_time() {
        let error = determine_futures_order_lifetime(
            BinanceProductType::UsdM,
            OrderType::Limit,
            TimeInForce::Gtd,
            None,
            false,
            true,
            UnixNanos::from_seconds(1_700_000_000),
        )
        .unwrap_err();

        assert_eq!(error, OrderDeniedReason::MissingExpireTime);
    }

    #[rstest]
    fn test_futures_order_lifetime_maximum_exceeds_unix_nanos_range() {
        let maximum_unix_nanos_millis = u64::MAX / NANOSECONDS_IN_MILLISECOND;

        assert!(maximum_unix_nanos_millis < BINANCE_GTD_MAX_MILLIS);
    }

    #[rstest]
    fn test_classify_submit_order_error_dual_side_sync_is_not_post_only() {
        // -4531 is a hedge-mode/account-setup issue, not a post-only rejection.
        // Make sure the new classifier branch does not mark it as post-only.
        let err = http_error(BINANCE_FUTURES_DUAL_SIDE_SYNC_REJECT_CODE);
        assert!(!classify_submit_order_error(&err));
    }

    #[rstest]
    fn test_classify_submit_order_error_other_venue_code_is_not_post_only() {
        let err = http_error(-2010);
        assert!(!classify_submit_order_error(&err));
    }

    #[rstest]
    fn test_classify_submit_order_error_non_binance_error_is_not_post_only() {
        let err = anyhow::anyhow!("network failure");
        assert!(!classify_submit_order_error(&err));
    }

    #[rstest]
    #[case(BINANCE_UNEXPECTED_RESPONSE_CODE)]
    #[case(BINANCE_STATUS_UNKNOWN_CODE)]
    fn test_unknown_status_submit_error_is_ambiguous(#[case] code: i64) {
        let err = http_error(code);
        assert!(matches!(
            classify_futures_http_failure(err.downcast_ref().unwrap()),
            CommandFailure::Ambiguous(_)
        ));
    }

    #[rstest]
    fn test_other_structured_submit_error_is_not_ambiguous() {
        let err = http_error(BINANCE_GTX_ORDER_REJECT_CODE);
        assert!(matches!(
            classify_futures_http_failure(err.downcast_ref().unwrap()),
            CommandFailure::VenueRejected(_)
        ));
    }

    #[rstest]
    fn test_instrument_product_matching_distinguishes_futures_products_from_spot() {
        let usdm = InstrumentAny::CryptoPerpetual(crypto_perpetual_ethusdt());
        let generic_perpetual = InstrumentAny::PerpetualContract(perpetual_contract_eurusd());
        let coinm = InstrumentAny::CryptoPerpetual(btcusd_bybit());
        let delivery =
            || crypto_future_btcusdt(2, 6, Price::from("0.01"), Quantity::from("0.000001"));
        let usdm_delivery = InstrumentAny::CryptoFuture(delivery());
        let mut coinm_delivery = delivery();
        coinm_delivery.is_inverse = true;
        let coinm_delivery = InstrumentAny::CryptoFuture(coinm_delivery);
        let spot = InstrumentAny::CurrencyPair(currency_pair_btcusdt());

        assert!(is_instrument_for_product(&usdm, BinanceProductType::UsdM));
        assert!(!is_instrument_for_product(&usdm, BinanceProductType::CoinM));
        assert!(is_instrument_for_product(
            &generic_perpetual,
            BinanceProductType::UsdM
        ));
        assert!(!is_instrument_for_product(
            &generic_perpetual,
            BinanceProductType::CoinM
        ));
        assert!(is_instrument_for_product(&coinm, BinanceProductType::CoinM));
        assert!(!is_instrument_for_product(&coinm, BinanceProductType::UsdM));
        assert!(is_instrument_for_product(
            &usdm_delivery,
            BinanceProductType::UsdM
        ));
        assert!(!is_instrument_for_product(
            &usdm_delivery,
            BinanceProductType::CoinM
        ));
        assert!(is_instrument_for_product(
            &coinm_delivery,
            BinanceProductType::CoinM
        ));
        assert!(!is_instrument_for_product(
            &coinm_delivery,
            BinanceProductType::UsdM
        ));
        assert!(!is_instrument_for_product(&spot, BinanceProductType::UsdM));
        assert!(!is_instrument_for_product(&spot, BinanceProductType::CoinM));
    }

    fn test_execution_client(
        base_url_http: String,
    ) -> (BinanceFuturesExecutionClient, Rc<RefCell<Cache>>) {
        let cache = Rc::new(RefCell::new(Cache::default()));
        let core = ExecutionClientCore::new(
            TraderId::from("TESTER-001"),
            *BINANCE_CLIENT_ID,
            *BINANCE_VENUE,
            OmsType::Hedging,
            AccountId::from("BINANCE-001"),
            AccountType::Margin,
            None,
            cache.clone(),
        );
        let config = BinanceExecutionClientConfig {
            product_type: BinanceProductType::UsdM,
            base_url_http: Some(base_url_http),
            use_ws_trading: false,
            api_key: Some("test_api_key".into()),
            api_secret: Some("test_api_secret".into()),
            ..Default::default()
        };

        (
            BinanceFuturesExecutionClient::new(core, config).unwrap(),
            cache,
        )
    }

    async fn wait_for_spawned_tasks(client: &BinanceFuturesExecutionClient) {
        for _ in 0..40 {
            if client.pending_tasks.all_finished() {
                return;
            }

            tokio::time::sleep(Duration::from_millis(25)).await;
        }

        panic!("timed out waiting for spawned Binance Futures execution tasks");
    }

    struct MockVenueHits {
        batch: Arc<AtomicUsize>,
        algo_cancel: Arc<AtomicUsize>,
        cancel_all: Arc<AtomicUsize>,
    }

    async fn start_batch_reject_server() -> (String, MockVenueHits) {
        let batch_hits = Arc::new(AtomicUsize::new(0));
        let batch_hits_clone = batch_hits.clone();
        let algo_hits = Arc::new(AtomicUsize::new(0));
        let algo_hits_clone = algo_hits.clone();
        let cancel_all_hits = Arc::new(AtomicUsize::new(0));
        let cancel_all_hits_clone = cancel_all_hits.clone();
        let app = axum::Router::new()
            .route(
                "/fapi/v1/batchOrders",
                axum::routing::delete(
                    move |axum::extract::Query(params): axum::extract::Query<
                        HashMap<String, String>,
                    >| {
                        let hits = batch_hits_clone.clone();
                        async move {
                            hits.fetch_add(1, Ordering::Relaxed);
                            let count = ["orderIdList", "origClientOrderIdList"]
                                .into_iter()
                                .filter_map(|key| params.get(key))
                                .filter_map(|value| {
                                    serde_json::from_str::<Vec<serde_json::Value>>(value).ok()
                                })
                                .map(|values| values.len())
                                .sum::<usize>()
                                .max(1);
                            let errors = (0..count)
                                .map(|_| {
                                    serde_json::json!({"code": -2011, "msg": "Unknown order sent"})
                                })
                                .collect::<Vec<_>>();

                            axum::Json(errors)
                        }
                    },
                ),
            )
            .route(
                "/fapi/v1/algoOrder",
                axum::routing::delete(move || {
                    let hits = algo_hits_clone.clone();
                    async move {
                        hits.fetch_add(1, Ordering::Relaxed);

                        (
                            axum::http::StatusCode::BAD_REQUEST,
                            axum::Json(
                                serde_json::json!({"code": -2011, "msg": "Unknown algo order sent"}),
                            ),
                        )
                    }
                }),
            )
            .route(
                "/fapi/v1/order",
                axum::routing::delete(|| async {
                    (
                        axum::http::StatusCode::BAD_REQUEST,
                        axum::Json(
                            serde_json::json!({"code": -2011, "msg": "Unknown order sent"}),
                        ),
                    )
                }),
            )
            .route(
                "/fapi/v1/allOpenOrders",
                axum::routing::delete(move || {
                    let hits = cancel_all_hits_clone.clone();
                    async move {
                        hits.fetch_add(1, Ordering::Relaxed);

                        axum::Json(serde_json::json!({"code": 200, "msg": "success"}))
                    }
                }),
            );
        let listener = tokio::net::TcpListener::bind("127.0.0.1:0").await.unwrap();
        let addr = listener.local_addr().unwrap();

        tokio::spawn(async move {
            axum::serve(listener, app.into_make_service())
                .await
                .unwrap();
        });

        (
            format!("http://{addr}"),
            MockVenueHits {
                batch: batch_hits,
                algo_cancel: algo_hits,
                cancel_all: cancel_all_hits,
            },
        )
    }

    #[allow(
        clippy::too_many_arguments,
        reason = "test helper takes one cohesive set of order construction inputs"
    )]
    fn add_open_order(
        cache: &Rc<RefCell<Cache>>,
        account_id: AccountId,
        index: usize,
        instrument_id: InstrumentId,
        owner: &str,
        side: OrderSide,
        order_type: OrderType,
        open: bool,
    ) -> OrderAny {
        let client_order_id = ClientOrderId::from(format!("O-CANCEL-ALL-{index}"));
        let mut builder = OrderTestBuilder::new(order_type);
        let order = builder
            .instrument_id(instrument_id)
            .client_order_id(client_order_id)
            .strategy_id(StrategyId::from(owner))
            .side(side)
            .quantity(Quantity::from("1"))
            .price(Price::from("10000.00"))
            .trigger_price(Price::from("9900.00"))
            .build();
        let venue_order_id = VenueOrderId::from(format!("{}", 1000 + index));
        let accepted = TestOrderEventStubs::accepted(&order, account_id, venue_order_id);
        cache
            .borrow_mut()
            .add_order(order, None, Some(*BINANCE_CLIENT_ID), false)
            .unwrap();
        let order = cache.borrow_mut().update_order(&accepted).unwrap();

        if !open {
            let canceled = TestOrderEventStubs::canceled(&order, account_id, Some(venue_order_id));
            cache.borrow_mut().update_order(&canceled).unwrap();
        }

        order
    }

    #[rstest]
    #[case::buy(Some(OrderSide::Buy), vec![0, 2])]
    #[case::sell(Some(OrderSide::Sell), vec![1, 3])]
    #[tokio::test]
    async fn test_cancel_all_orders_filters_by_side_and_preserves_owners(
        #[case] order_side: Option<OrderSide>,
        #[case] expected_indices: Vec<usize>,
    ) {
        let (base_url, hits) = start_batch_reject_server().await;
        let (mut client, cache) = test_execution_client(base_url);
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);

        let instrument_id = InstrumentId::from("BTCUSDT-PERP.BINANCE");
        let other_instrument_id = InstrumentId::from("ETHUSDT-PERP.BINANCE");
        let account_id = client.core.account_id;
        let mut orders = Vec::new();

        for (index, (instrument, owner, side, open)) in [
            (instrument_id, "S-001", OrderSide::Buy, true),
            (instrument_id, "S-001", OrderSide::Sell, true),
            (instrument_id, "S-002", OrderSide::Buy, true),
            (instrument_id, "S-002", OrderSide::Sell, true),
            (other_instrument_id, "S-001", OrderSide::Buy, true),
            (other_instrument_id, "S-002", OrderSide::Sell, true),
            (instrument_id, "S-001", OrderSide::Buy, false),
            (instrument_id, "S-002", OrderSide::Sell, false),
        ]
        .into_iter()
        .enumerate()
        {
            orders.push(add_open_order(
                &cache,
                account_id,
                index,
                instrument,
                owner,
                side,
                OrderType::Limit,
                open,
            ));
        }

        client
            .cancel_all_orders(CancelAllOrders::new(
                TraderId::from("TESTER-001"),
                Some(*BINANCE_CLIENT_ID),
                StrategyId::from("S-001"),
                instrument_id,
                order_side,
                UUID4::new(),
                UnixNanos::default(),
                None,
                None,
            ))
            .unwrap();
        wait_for_spawned_tasks(&client).await;

        // Rejections expose per-order ownership in the outcomes
        assert_eq!(hits.batch.load(Ordering::Relaxed), 1);
        assert_eq!(hits.algo_cancel.load(Ordering::Relaxed), 0);
        assert_eq!(hits.cancel_all.load(Ordering::Relaxed), 0);

        let mut actual = Vec::new();

        for _ in &expected_indices {
            let event = rx.try_recv().expect("expected OrderCancelRejected event");
            match event {
                ExecutionEvent::Order(OrderEventAny::CancelRejected(rejected)) => {
                    actual.push((rejected.client_order_id, rejected.strategy_id));
                }
                event => panic!("expected OrderCancelRejected, was {event:?}"),
            }
        }

        let mut expected: Vec<_> = expected_indices
            .iter()
            .map(|&index| {
                let order = &orders[index];
                (order.client_order_id(), order.strategy_id())
            })
            .collect();

        actual.sort();
        expected.sort();

        assert_eq!(actual, expected);
        assert!(rx.try_recv().is_err());
    }

    #[rstest]
    #[tokio::test]
    async fn test_cancel_all_orders_routes_algo_orders_individually() {
        let (base_url, hits) = start_batch_reject_server().await;
        let (mut client, cache) = test_execution_client(base_url);
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);

        let instrument_id = InstrumentId::from("BTCUSDT-PERP.BINANCE");
        let account_id = client.core.account_id;

        // Two algo types cover the split; opposite-side algo must be ignored
        let algo_buy_owner_a = add_open_order(
            &cache,
            account_id,
            0,
            instrument_id,
            "S-001",
            OrderSide::Buy,
            OrderType::StopMarket,
            true,
        );
        let algo_buy_owner_b = add_open_order(
            &cache,
            account_id,
            1,
            instrument_id,
            "S-002",
            OrderSide::Buy,
            OrderType::StopLimit,
            true,
        );
        let regular_buy = add_open_order(
            &cache,
            account_id,
            2,
            instrument_id,
            "S-002",
            OrderSide::Buy,
            OrderType::Limit,
            true,
        );
        add_open_order(
            &cache,
            account_id,
            3,
            instrument_id,
            "S-001",
            OrderSide::Sell,
            OrderType::StopMarket,
            true,
        );

        client
            .cancel_all_orders(CancelAllOrders::new(
                TraderId::from("TESTER-001"),
                Some(*BINANCE_CLIENT_ID),
                StrategyId::from("S-001"),
                instrument_id,
                Some(OrderSide::Buy),
                UUID4::new(),
                UnixNanos::default(),
                None,
                None,
            ))
            .unwrap();
        wait_for_spawned_tasks(&client).await;

        assert_eq!(hits.batch.load(Ordering::Relaxed), 1);
        assert_eq!(hits.algo_cancel.load(Ordering::Relaxed), 2);
        assert_eq!(hits.cancel_all.load(Ordering::Relaxed), 0);

        let mut actual = Vec::new();

        for _ in 0..3 {
            let event = rx.try_recv().expect("expected OrderCancelRejected event");
            match event {
                ExecutionEvent::Order(OrderEventAny::CancelRejected(rejected)) => {
                    actual.push((rejected.client_order_id, rejected.strategy_id));
                }
                event => panic!("expected OrderCancelRejected, was {event:?}"),
            }
        }

        let mut expected = [algo_buy_owner_a, algo_buy_owner_b, regular_buy]
            .iter()
            .map(|order| (order.client_order_id(), order.strategy_id()))
            .collect::<Vec<_>>();

        actual.sort();
        expected.sort();

        assert_eq!(actual, expected);
        assert!(rx.try_recv().is_err());
    }

    #[rstest]
    #[tokio::test]
    async fn test_cancel_all_orders_with_side_and_empty_cache_sends_nothing() {
        let (base_url, hits) = start_batch_reject_server().await;
        let (mut client, _cache) = test_execution_client(base_url);
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);

        client
            .cancel_all_orders(CancelAllOrders::new(
                TraderId::from("TESTER-001"),
                Some(*BINANCE_CLIENT_ID),
                StrategyId::from("S-001"),
                InstrumentId::from("BTCUSDT-PERP.BINANCE"),
                Some(OrderSide::Buy),
                UUID4::new(),
                UnixNanos::default(),
                None,
                None,
            ))
            .unwrap();
        wait_for_spawned_tasks(&client).await;

        assert_eq!(hits.batch.load(Ordering::Relaxed), 0);
        assert_eq!(hits.algo_cancel.load(Ordering::Relaxed), 0);
        assert_eq!(hits.cancel_all.load(Ordering::Relaxed), 0);
        assert!(rx.try_recv().is_err());
        assert!(client.dispatch_state.pending_requests.is_empty());
    }
}