# Borrow ICP: rates on every exchange

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

Updated 2026-11-11 23:29 UTC · https://afterfees.xyz/borrow/ICP

## ICP 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% | $41.3K | not published | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 1.45% | 1.44% | 1.47% | 1.45% | $25.5K | not published | Borrowable |
| [Bitget](https://afterfees.xyz/venues/bitget) | 1.32% | 2.46% | 2.08% | 2.46% | $1.1M | $88.2K | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 20.26% | 22.41% | 20.96% | 22.41% | $7.7K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 27.90% | 27.96% | 27.99% | 27.96% * | $120K | 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 ICP: borrow and sell spot, long the perp

No reverse ICP 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._

## ICP perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Phemex](https://afterfees.xyz/venues/phemex) | ICPUSDT | -0.1036% | 8 h | −113.5% |
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_ICPUSD | -0.0062% | 1 h | −54.7% |
| [OKX](https://afterfees.xyz/venues/okx) | ICP-USDT-SWAP | -0.0131% | 8 h | −14.3% |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | ICPUSDT | -0.0089% | 8 h | −9.8% |
| [LBank](https://afterfees.xyz/venues/lbank) | ICPUSDT | -0.0074% | 8 h | −8.1% |
| [MEXC](https://afterfees.xyz/venues/mexc) | ICP_USDT | -0.0074% | 8 h | −8.1% |
| [GRVT](https://afterfees.xyz/venues/grvt) | ICP_USDT_Perp | -0.0074% | 8 h | −8.1% |
| [Extended](https://afterfees.xyz/venues/extended) | ICP-USD | -0.0009% | 1 h | −7.9% |

## Coins

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

## Questions

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

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 ICP.

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

Not right now: no reverse ICP 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._