# Borrow M: rates on every exchange

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

Updated 2026-10-30 00:09 UTC · https://afterfees.xyz/borrow/M

## M 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) | 1.09% | 1.05% | 1.06% | 1.09% | $70.1K | $98.5K | 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._

## Reverse carry on M: borrow and sell spot, long the perp

No reverse M 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._

## M perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [KuCoin](https://afterfees.xyz/venues/kucoin) | MUSDTM | -0.0022% | 4 h | −4.8% |
| [Gate](https://afterfees.xyz/venues/gate) | M_USDT | -0.0011% | 8 h | −1.2% |
| [MEXC](https://afterfees.xyz/venues/mexc) | M_USDT | 0.0050% | 4 h | +10.9% |
| [Bitget](https://afterfees.xyz/venues/bitget) | MUSDT | 0.0050% | 4 h | +10.9% |
| [BingX](https://afterfees.xyz/venues/bingx) | M-USDT | 0.0050% | 4 h | +10.9% |
| [Bybit](https://afterfees.xyz/venues/bybit) | MUSDT | 0.0050% | 4 h | +10.9% |
| [Aster](https://afterfees.xyz/venues/aster) | MUSDT | 0.0050% | 4 h | +10.9% |
| [Binance](https://afterfees.xyz/venues/binance) | MUSDT | 0.0050% | 4 h | +10.9% |

## Coins

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

## Questions

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

Bitget, at 1.09% a year at the rate we count (the higher of the current rate and the 24 h average), among 1 exchanges that lend M.

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

Not right now: no reverse M 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._