# Borrow OP: rates on every exchange

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

Updated 2026-10-30 10:14 UTC · https://afterfees.xyz/borrow/OP

## OP 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) | 1.37% | 1.38% | 1.39% | 1.38% | $518K | $204.3K | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 2.44% | 2.53% | 2.55% | 2.53% | $39.1K | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 5.89% | 4.79% | 4.36% | 5.89% | $46.6K | not published | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 9.01% | 10.13% | 10.83% | 10.13% | $11.4K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 12.99% | 12.74% | 13.20% | 12.99% * | $120K | 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 OP: borrow and sell spot, long the perp

No reverse OP 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._

## OP perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [OKX](https://afterfees.xyz/venues/okx) | OP-USDT-SWAP | -0.0289% | 8 h | −31.7% |
| [MEXC](https://afterfees.xyz/venues/mexc) | OP_USDT | -0.0209% | 8 h | −22.9% |
| [Binance](https://afterfees.xyz/venues/binance) | OPUSDT | -0.0206% | 8 h | −22.6% |
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_OPUSD | -0.0020% | 1 h | −17.4% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | OPUSDTM | -0.0095% | 8 h | −10.4% |
| [BloFin](https://afterfees.xyz/venues/blofin) | OP-USDT | -0.0089% | 8 h | −9.8% |
| [Aster](https://afterfees.xyz/venues/aster) | OPUSDT | -0.0054% | 8 h | −5.9% |
| [HTX](https://afterfees.xyz/venues/htx) | OP-USDT | -0.0050% | 8 h | −5.5% |

## Coins

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

## Questions

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

Bitget, at 1.38% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend OP.

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

Not right now: no reverse OP 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._