# Borrow SHIB: rates on every exchange

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

Updated 2026-11-11 23:19 UTC · https://afterfees.xyz/borrow/SHIB

## SHIB borrow rates by exchange

| Exchange | Now | 24 h avg | 7-day avg | Rate counted | Per-account limit | Platform remaining | Status |
|---|---|---|---|---|---|---|---|
| [Binance](https://afterfees.xyz/venues/binance) | 0.47% | 0.47% | 0.50% | 0.47% | $44.6K | not published | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 0.71% | 0.71% | 0.74% | 0.71% | $332.8K | not published | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 1.01% | 1.01% | 1.01% | 1.01% | $52K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 1.22% | 1.17% | 1.29% | 1.22% * | $2M | not published | Borrowable |
| [Bitget](https://afterfees.xyz/venues/bitget) | 1.57% | 1.76% | 1.70% | 1.76% | $216.4K | $84.9K | 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 SHIB: borrow and sell spot, long the perp

No reverse SHIB 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._

## SHIB perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_SHIBUSD | -0.0020% | 1 h | −17.3% |
| [Bybit](https://afterfees.xyz/venues/bybit) | SHIB1000USDT | 0.0013% | 8 h | +1.4% |
| [Bitget](https://afterfees.xyz/venues/bitget) | SHIBUSDT | 0.0032% | 8 h | +3.5% |
| [Gate](https://afterfees.xyz/venues/gate) | SHIB_USDT | 0.0032% | 8 h | +3.5% |
| [Lighter](https://afterfees.xyz/venues/lighter) | 1000SHIB | 0.0012% | 1 h | +10.5% |
| [Pacifica](https://afterfees.xyz/venues/pacifica) | kSHIB | 0.0013% | 1 h | +10.9% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | SHIBUSDTM | 0.0100% | 8 h | +10.9% |
| [MEXC](https://afterfees.xyz/venues/mexc) | SHIB_USDT | 0.0100% | 8 h | +10.9% |

## Coins

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

## Questions

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

Binance, at 0.47% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend SHIB.

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

Not right now: no reverse SHIB 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._