diff --git a/freqtrade/exchange/exchange.py b/freqtrade/exchange/exchange.py
index d236b18d3..10b923e9a 100644
--- a/freqtrade/exchange/exchange.py
+++ b/freqtrade/exchange/exchange.py
@@ -2732,6 +2732,9 @@ class Exchange:
         """
         input_coroutines: list[Coroutine[Any, Any, OHLCVResponse]] = []
         cached_pairs = []
+        if not pair_list:
+            return input_coroutines, cached_pairs
+
         # optimization: cache timeframes as a set outside the loop to avoid repeated property access
         # and linear search
         available_timeframes = set(self.timeframes)