# Borrow PYTH: rates on every exchange

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

Updated 2026-11-12 00:04 UTC · https://afterfees.xyz/borrow/PYTH

## PYTH borrow rates by exchange

| Exchange | Now | 24 h avg | 7-day avg | Rate counted | Per-account limit | Platform remaining | Status |
|---|---|---|---|---|---|---|---|
| [Gate](https://afterfees.xyz/venues/gate) | 0.36% | 0.45% | 0.36% | 0.45% * | $30K | not published | Borrowable |
| [Bitget](https://afterfees.xyz/venues/bitget) | 1.43% | 2.45% | 3.42% | 2.45% | $428.6K | $185.3K | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 6.10% | 6.56% | 5.96% | 6.56% | $12.8K | not published | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 7.10% | 7.60% | 7.33% | 7.60% | $30.9K | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 19.43% | 16.80% | 12.21% | 19.43% | $6.4K | 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 PYTH: borrow and sell spot, long the perp

No reverse PYTH 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._

## PYTH perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Backpack](https://afterfees.xyz/venues/backpack) | PYTH_USDC_PERP | -0.0090% | 1 h | −79.0% |
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_PYTHUSD | -0.0015% | 1 h | −12.9% |
| [BloFin](https://afterfees.xyz/venues/blofin) | PYTH-USDT | -0.0055% | 4 h | −12.0% |
| [Bybit](https://afterfees.xyz/venues/bybit) | PYTHUSDT | -0.0054% | 4 h | −11.9% |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | PYTHUSDT | -0.0041% | 4 h | −8.9% |
| [LBank](https://afterfees.xyz/venues/lbank) | PYTHUSDT | -0.0037% | 4 h | −8.1% |
| [Binance](https://afterfees.xyz/venues/binance) | PYTHUSDT | -0.0037% | 4 h | −8.0% |
| [MEXC](https://afterfees.xyz/venues/mexc) | PYTH_USDT | -0.0036% | 4 h | −7.9% |

## Coins

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

## Questions

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

Gate, at 0.45% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend PYTH.

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

Not right now: no reverse PYTH 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._