# Borrow NIL: rates on every exchange

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

Updated 2026-10-29 23:33 UTC · https://afterfees.xyz/borrow/NIL

## NIL 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) | 27.41% | 48.11% | 35.50% | 48.11% * | $30K | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 59.23% | 62.58% | 70.38% | 62.58% | $4K | not published | Borrowable |
| [Bitget](https://afterfees.xyz/venues/bitget) | 53.15% | 85.75% | 48.01% | 85.75% | $359.4K | $5.5K | 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. * Gate: rate × the published VIP multiplier (inferred)._

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

No reverse NIL 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._

## NIL perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | NIL | -0.0185% | 1 h | −161.9% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | NILUSDTM | -0.0295% | 4 h | −64.6% |
| [Bybit](https://afterfees.xyz/venues/bybit) | NILUSDT | -0.0270% | 4 h | −59.1% |
| [BingX](https://afterfees.xyz/venues/bingx) | NIL-USDT | -0.0243% | 4 h | −53.2% |
| [Binance](https://afterfees.xyz/venues/binance) | NILUSDT | -0.0233% | 4 h | −51.0% |
| [MEXC](https://afterfees.xyz/venues/mexc) | NIL_USDT | -0.0231% | 4 h | −50.6% |
| [BloFin](https://afterfees.xyz/venues/blofin) | NIL-USDT | -0.0213% | 4 h | −46.5% |
| [Gate](https://afterfees.xyz/venues/gate) | NIL_USDT | -0.0108% | 4 h | −23.7% |

## Coins

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

## Questions

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

Gate, at 48.11% a year at the rate we count (the higher of the current rate and the 24 h average), among 3 exchanges that lend NIL.

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

Not right now: no reverse NIL 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._