# Borrow RAY: rates on every exchange

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

Updated 2026-11-11 23:16 UTC · https://afterfees.xyz/borrow/RAY

## RAY 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) | 6.31% | 6.96% | 12.40% | 6.96% | $40K | not published | Borrowable |
| [Bitget](https://afterfees.xyz/venues/bitget) | 6.42% | 7.00% | 8.85% | 7.00% | $480K | $94.8K | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 41.38% | 42.44% | 44.65% | 42.44% | $8K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 50.60% | 50.64% | 52.51% | 50.64% * | $30K | 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 RAY: borrow and sell spot, long the perp

No reverse RAY 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._

## RAY perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Bitunix](https://afterfees.xyz/venues/bitunix) | RAYUSDT | -0.0025% | 4 h | −5.5% |
| [MEXC](https://afterfees.xyz/venues/mexc) | RAY_USDT | -0.0011% | 4 h | −2.4% |
| [LBank](https://afterfees.xyz/venues/lbank) | RAYUSDT | -0.0011% | 4 h | −2.4% |
| [Bitget](https://afterfees.xyz/venues/bitget) | RAYUSDT | -0.0009% | 4 h | −2.0% |
| [Gate](https://afterfees.xyz/venues/gate) | RAY_USDT | 0.0003% | 4 h | +0.7% |
| [OKX](https://afterfees.xyz/venues/okx) | RAY-USDT-SWAP | 0.0024% | 8 h | +2.7% |
| [BloFin](https://afterfees.xyz/venues/blofin) | RAY-USDT | 0.0039% | 8 h | +4.3% |
| [Lighter](https://afterfees.xyz/venues/lighter) | RAY | 0.0012% | 1 h | +10.5% |

## Coins

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

## Questions

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

OKX, at 6.96% a year at the rate we count (the higher of the current rate and the 24 h average), among 4 exchanges that lend RAY.

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

Not right now: no reverse RAY 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._