# Borrow PI: rates on every exchange

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

Updated 2026-11-11 23:27 UTC · https://afterfees.xyz/borrow/PI

## PI borrow rates by exchange

| Exchange | Now | 24 h avg | 7-day avg | Rate counted | Per-account limit | Platform remaining | Status |
|---|---|---|---|---|---|---|---|
| [Bitget](https://afterfees.xyz/venues/bitget) | 1.17% | 1.17% | 1.18% | 1.17% | $107.7K | $639.6K | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 1.32% | 1.32% | 1.28% | 1.32% * | $30K | not published | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 5.11% | 5.39% | 4.38% | 5.39% | $31.5K | 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 PI: borrow and sell spot, long the perp

No reverse PI 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._

## PI perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Gate](https://afterfees.xyz/venues/gate) | PI_USDT | 0.0023% | 4 h | +5.0% |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | PIUSDT | 0.0040% | 4 h | +8.8% |
| [MEXC](https://afterfees.xyz/venues/mexc) | PI_USDT | 0.0042% | 4 h | +9.2% |
| [OKX](https://afterfees.xyz/venues/okx) | PI-USDT-SWAP | 0.0043% | 4 h | +9.4% |
| [LBank](https://afterfees.xyz/venues/lbank) | PIUSDT | 0.0043% | 4 h | +9.4% |
| [Bitget](https://afterfees.xyz/venues/bitget) | PIUSDT | 0.0050% | 4 h | +10.9% |
| [BingX](https://afterfees.xyz/venues/bingx) | PI-USDT | 0.0050% | 4 h | +10.9% |

## Coins

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

## Questions

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

Bitget, at 1.17% a year at the rate we count (the higher of the current rate and the 24 h average), among 3 exchanges that lend PI.

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

Not right now: no reverse PI 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._