# Borrow XPL: rates on every exchange

Annualised margin borrow rates for XPL 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/XPL

## XPL 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) | 6.29% | 9.71% | 11.85% | 9.71% | $113.2K | $18.3K | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 10.99% | 11.02% | 11.09% | 11.02% | $49K | not published | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 11.30% | 11.96% | 14.62% | 11.96% | $4.3K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 14.41% | 16.17% | 23.72% | 16.17% * | $120K | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 25.51% | 22.60% | 22.10% | 25.51% | $6.9K | 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 XPL: borrow and sell spot, long the perp

No reverse XPL 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._

## XPL perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Backpack](https://afterfees.xyz/venues/backpack) | XPL_USDC_PERP | -0.0084% | 1 h | −73.6% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | XPLUSDTM | -0.0097% | 4 h | −21.2% |
| [Aster](https://afterfees.xyz/venues/aster) | XPLUSDT | -0.0055% | 4 h | −12.1% |
| [Bybit](https://afterfees.xyz/venues/bybit) | XPLUSDT | -0.0047% | 4 h | −10.3% |
| [OKX](https://afterfees.xyz/venues/okx) | XPL-USDT-SWAP | -0.0033% | 4 h | −7.3% |
| [Gate](https://afterfees.xyz/venues/gate) | XPL_USDT | -0.0003% | 4 h | −0.7% |
| [Paradex](https://afterfees.xyz/venues/paradex) | XPL-USD-PERP | 0.0033% | 8 h | +3.7% |
| [Lighter](https://afterfees.xyz/venues/lighter) | XPL | 0.0010% | 1 h | +8.8% |

## Coins

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

## Questions

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

Bitget, at 9.71% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend XPL.

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

Not right now: no reverse XPL 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._