# Borrow BTC: rates on every exchange

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

Updated 2026-10-29 18:25 UTC · https://afterfees.xyz/borrow/BTC

## BTC 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) | 0.21% | 0.22% | 0.24% | 0.22% | $121.3M | $39.8M | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 0.43% | 0.43% | 0.43% | 0.43% | $24.3M | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 0.43% | 0.43% | 0.43% | 0.43% | $8.1M | not published | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 0.51% | 0.51% | 0.51% | 0.51% | $14.1M | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 0.59% | 0.61% | 0.61% | 0.61% * | $120M | 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 BTC: borrow and sell spot, long the perp

No reverse BTC 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._

## BTC perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [dYdX](https://afterfees.xyz/venues/dydx) | BTC-USD | 0.0000% | 1 h | 0.0% |
| [GRVT](https://afterfees.xyz/venues/grvt) | BTC_USDT_Perp | 0.0026% | 8 h | +2.8% |
| [Bitget](https://afterfees.xyz/venues/bitget) | BTCUSDT | 0.0030% | 8 h | +3.3% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | XBTUSDTM | 0.0063% | 8 h | +6.9% |
| [Gate](https://afterfees.xyz/venues/gate) | BTC_USDT | 0.0082% | 8 h | +9.0% |
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_XBTUSD | 0.0012% | 1 h | +10.1% |
| [Lighter](https://afterfees.xyz/venues/lighter) | BTC | 0.0012% | 1 h | +10.5% |
| [Paradex](https://afterfees.xyz/venues/paradex) | BTC-USD-PERP | 0.0099% | 8 h | +10.8% |

## Coins

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

## Questions

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

Bitget, at 0.22% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend BTC.

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

Not right now: no reverse BTC 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._