# Borrow ETH: rates on every exchange

Annualised margin borrow rates for ETH at VIP 0, and whether borrowing it to collect negative funding pays after every cost.

Updated 2026-11-11 23:26 UTC · https://afterfees.xyz/borrow/ETH

## ETH borrow rates by exchange

| Exchange | Now | 24 h avg | 7-day avg | Rate counted | Per-account limit | Platform remaining | Status |
|---|---|---|---|---|---|---|---|
| [OKX](https://afterfees.xyz/venues/okx) | 1.01% | 1.01% | 1.01% | 1.01% | $14.3M | not published | Borrowable |
| [Bitget](https://afterfees.xyz/venues/bitget) | 1.44% | 1.45% | 1.52% | 1.45% | $51.1M | $5.7M | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 1.79% | 1.82% | 1.93% | 1.82% | $4.1M | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 2.40% | 2.40% | 2.40% | 2.40% * | $120M | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 2.44% | 2.44% | 2.55% | 2.44% | $4.1M | not published | Borrowable |

_Annualised simply (hourly rate × 8,760). Rate counted = the higher of the current rate and the 24 h average, as in every calculation on AfterFees. * Gate: rate × the published VIP multiplier (inferred)._

## Reverse carry on ETH: borrow and sell spot, long the perp

No reverse ETH carry nets a profit at this size right now.

_At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry._

## ETH perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | ETH | -0.0003% | 1 h | −2.6% |
| [dYdX](https://afterfees.xyz/venues/dydx) | ETH-USD | -0.0002% | 1 h | −1.7% |
| [GRVT](https://afterfees.xyz/venues/grvt) | ETH_USDT_Perp | 0.0003% | 8 h | +0.3% |
| [OKX](https://afterfees.xyz/venues/okx) | ETH-USDT-SWAP | 0.0009% | 8 h | +1.0% |
| [Bitget](https://afterfees.xyz/venues/bitget) | ETHUSDT | 0.0018% | 8 h | +2.0% |
| [Gate](https://afterfees.xyz/venues/gate) | ETH_USDT | 0.0021% | 8 h | +2.3% |
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_ETHUSD | 0.0003% | 1 h | +2.4% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | ETHUSDTM | 0.0023% | 8 h | +2.5% |

## Coins

|   |   |
|---|---|
| Funding rates and every arbitrage on this coin | [ETH](https://afterfees.xyz/coin/ETH) |

## Questions

**Where is it cheapest to borrow ETH?**

OKX, at 1.01% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend ETH.

**Can I earn negative funding on ETH by borrowing it?**

Not right now: no reverse ETH carry covers its borrow interest, fees and slippage at $10,000 for 7 days.

_The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you._