# Borrow RAY: rates on every exchange

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

Updated 2026-10-30 09:23 UTC · https://afterfees.xyz/borrow/RAY

## RAY 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) | 14.54% | 16.40% | 19.86% | 16.40% | $483.8K | $88.6K | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 29.91% | 29.61% | 28.88% | 29.91% | $40.5K | not published | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 51.66% | 50.52% | 48.81% | 51.66% | $8.1K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 64.74% | 67.52% | 70.58% | 67.52% * | $30K | 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 RAY: borrow and sell spot, long the perp

No reverse RAY 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._

## RAY perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Lighter](https://afterfees.xyz/venues/lighter) | RAY | 0.0001% | 1 h | +0.9% |
| [OKX](https://afterfees.xyz/venues/okx) | RAY-USDT-SWAP | 0.0023% | 8 h | +2.5% |
| [BloFin](https://afterfees.xyz/venues/blofin) | RAY-USDT | 0.0033% | 8 h | +3.6% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | RAYUSDTM | 0.0050% | 4 h | +10.9% |
| [MEXC](https://afterfees.xyz/venues/mexc) | RAY_USDT | 0.0050% | 4 h | +10.9% |
| [HTX](https://afterfees.xyz/venues/htx) | RAY-USDT | 0.0050% | 4 h | +10.9% |
| [Bitget](https://afterfees.xyz/venues/bitget) | RAYUSDT | 0.0050% | 4 h | +10.9% |
| [BingX](https://afterfees.xyz/venues/bingx) | RAY-USDT | 0.0050% | 4 h | +10.9% |

## Coins

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

## Questions

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

Bitget, at 16.40% a year at the rate we count (the higher of the current rate and the 24 h average), among 4 exchanges that lend RAY.

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

Not right now: no reverse RAY 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._