# Borrow PENDLE: rates on every exchange

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

Updated 2026-10-30 04:06 UTC · https://afterfees.xyz/borrow/PENDLE

## PENDLE 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) | 1.31% | 1.31% | 1.29% | 1.31% | $242.9K | $322.3K | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 4.85% | 4.59% | 4.50% | 4.85% | $42.6K | not published | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 6.20% | 6.46% | 6.48% | 6.46% | $197.7K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 11.55% | 11.68% | 12.51% | 11.68% * | $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 PENDLE: borrow and sell spot, long the perp

No reverse PENDLE 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._

## PENDLE perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Bybit](https://afterfees.xyz/venues/bybit) | PENDLEUSDT | -0.0621% | 8 h | −68.0% |
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_PENDLEUSD | -0.0073% | 1 h | −63.5% |
| [dYdX](https://afterfees.xyz/venues/dydx) | PENDLE-USD | 0.0000% | 1 h | 0.0% |
| [Gate](https://afterfees.xyz/venues/gate) | PENDLE_USDT | 0.0006% | 8 h | +0.7% |
| [Paradex](https://afterfees.xyz/venues/paradex) | PENDLE-USD-PERP | 0.0070% | 8 h | +7.7% |
| [Lighter](https://afterfees.xyz/venues/lighter) | PENDLE | 0.0012% | 1 h | +10.5% |
| [Backpack](https://afterfees.xyz/venues/backpack) | PENDLE_USDC_PERP | 0.0013% | 1 h | +10.9% |
| [MEXC](https://afterfees.xyz/venues/mexc) | PENDLE_USDT | 0.0100% | 8 h | +10.9% |

## Coins

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

## Questions

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

Bitget, at 1.31% a year at the rate we count (the higher of the current rate and the 24 h average), among 4 exchanges that lend PENDLE.

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

Not right now: no reverse PENDLE 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._