# Borrow MTL: rates on every exchange

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

Updated 2026-10-30 05:32 UTC · https://afterfees.xyz/borrow/MTL

## MTL borrow rates by exchange

| Exchange | Now | 24 h avg | 7-day avg | Rate counted | Per-account limit | Platform remaining | Status |
|---|---|---|---|---|---|---|---|
| [Gate](https://afterfees.xyz/venues/gate) | 19.71% | 15.53% | 123.28% | 19.71% * | $10K | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 87.36% | 86.67% | 86.57% | 87.36% | $520 | 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 MTL: borrow and sell spot, long the perp

No reverse MTL 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._

## MTL perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [BingX](https://afterfees.xyz/venues/bingx) | MTL-USDT | -0.0069% | 4 h | −15.1% |
| [Bybit](https://afterfees.xyz/venues/bybit) | MTLUSDT | -0.0135% | 8 h | −14.7% |
| [Aster](https://afterfees.xyz/venues/aster) | MTLUSDT | -0.0046% | 4 h | −10.1% |
| [MEXC](https://afterfees.xyz/venues/mexc) | MTL_USDT | 0.0018% | 4 h | +3.9% |
| [Binance](https://afterfees.xyz/venues/binance) | MTLUSDT | 0.0018% | 4 h | +4.0% |
| [BloFin](https://afterfees.xyz/venues/blofin) | MTL-USDT | 0.0034% | 4 h | +7.4% |
| [Bitget](https://afterfees.xyz/venues/bitget) | MTLUSDT | 0.0050% | 4 h | +10.9% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | MTLUSDTM | 0.0050% | 4 h | +10.9% |

## Coins

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

## Questions

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

Gate, at 19.71% a year at the rate we count (the higher of the current rate and the 24 h average), among 2 exchanges that lend MTL.

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

Not right now: no reverse MTL 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._