# Borrow ETH: rates on every exchange

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

Updated 2026-10-29 22:05 UTC · https://afterfees.xyz/borrow/ETH

## ETH 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) | 1.01% | 1.01% | 1.01% | 1.01% | $15.9M | not published | Borrowable |
| [Bitget](https://afterfees.xyz/venues/bitget) | 1.12% | 1.13% | 1.11% | 1.13% | $56.7M | $6.7M | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 1.60% | 1.59% | 1.58% | 1.60% | $4.5M | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 2.00% | 2.01% | 2.02% | 2.01% | $4.5M | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 2.40% | 2.40% | 2.40% | 2.40% * | $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 ETH: borrow and sell spot, long the perp

No reverse ETH 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._

## ETH perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [ApeX](https://afterfees.xyz/venues/apex) | ETH-USDT | -0.0082% | 1 h | −72.0% |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | ETH | -0.0051% | 1 h | −45.1% |
| [Backpack](https://afterfees.xyz/venues/backpack) | ETH_USDC_PERP | -0.0021% | 1 h | −18.2% |
| [Paradex](https://afterfees.xyz/venues/paradex) | ETH-USD-PERP | -0.0063% | 8 h | −6.9% |
| [GRVT](https://afterfees.xyz/venues/grvt) | ETH_USDT_Perp | -0.0044% | 8 h | −4.8% |
| [Bybit](https://afterfees.xyz/venues/bybit) | ETHUSDT | -0.0042% | 8 h | −4.6% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | ETHUSDTM | -0.0023% | 8 h | −2.5% |
| [dYdX](https://afterfees.xyz/venues/dydx) | ETH-USD | 0.0000% | 1 h | 0.0% |

## Coins

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

## Questions

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

OKX, at 1.01% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend ETH.

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

Not right now: no reverse ETH 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._