# Borrow S: rates on every exchange

Annualised margin borrow rates for S 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/S

## S 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) | 1.99% | 2.07% | 2.09% | 2.07% | $286.1K | $3.7K | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 9.79% | 9.86% | 10.44% | 9.86% | $7.3K | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 12.42% | 14.22% | 15.18% | 14.22% | $7.5K | not published | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 17.61% | 18.71% | 20.41% | 18.71% | $8.9K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 19.86% | 20.09% | 20.40% | 20.09% * | $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 S: borrow and sell spot, long the perp

No reverse S 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._

## S perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Lighter](https://afterfees.xyz/venues/lighter) | S | -0.0027% | 1 h | −23.7% |
| [LBank](https://afterfees.xyz/venues/lbank) | SUSDT | -0.0021% | 4 h | −4.6% |
| [MEXC](https://afterfees.xyz/venues/mexc) | S_USDT | -0.0021% | 4 h | −4.6% |
| [Extended](https://afterfees.xyz/venues/extended) | S-USD | -0.0005% | 1 h | −4.4% |
| [Binance](https://afterfees.xyz/venues/binance) | SUSDT | -0.0019% | 4 h | −4.2% |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | SUSDT | -0.0008% | 4 h | −1.7% |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | S | -0.0002% | 1 h | −1.5% |
| [BloFin](https://afterfees.xyz/venues/blofin) | S-USDT | 0.0008% | 4 h | +1.7% |

## Coins

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

## Questions

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

Bitget, at 2.07% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend S.

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

Not right now: no reverse S 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._