# Borrow W: rates on every exchange

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

Updated 2026-10-30 05:06 UTC · https://afterfees.xyz/borrow/W

## W 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) | 9.79% | 11.96% | 12.07% | 11.96% | $228K | $9.4K | Borrowable |
| [Binance](https://afterfees.xyz/venues/binance) | 13.20% | 13.69% | 14.42% | 13.69% | $5.7K | not published | Borrowable |
| [Gate](https://afterfees.xyz/venues/gate) | 20.00% | 20.32% | 22.06% | 20.32% * | $120K | not published | Borrowable |
| [Bybit](https://afterfees.xyz/venues/bybit) | 19.80% | 20.55% | 22.02% | 20.55% | $14.6K | not published | Borrowable |
| [OKX](https://afterfees.xyz/venues/okx) | 23.41% | 25.68% | 27.35% | 25.68% | $5.7K | 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 W: borrow and sell spot, long the perp

No reverse W 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._

## W perps, most negative funding first

| Exchange | Contract | Rate | Every | Annualised |
|---|---|---|---|---|
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_WUSD | -0.0025% | 1 h | −21.5% |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | W | -0.0011% | 1 h | −9.5% |
| [OKX](https://afterfees.xyz/venues/okx) | W-USDT-SWAP | -0.0034% | 4 h | −7.3% |
| [Bitget](https://afterfees.xyz/venues/bitget) | WUSDT | -0.0003% | 4 h | −0.7% |
| [MEXC](https://afterfees.xyz/venues/mexc) | W_USDT | 0.0046% | 4 h | +10.1% |
| [Binance](https://afterfees.xyz/venues/binance) | WUSDT | 0.0047% | 4 h | +10.4% |
| [Bybit](https://afterfees.xyz/venues/bybit) | WUSDT | 0.0050% | 4 h | +10.9% |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | WUSDTM | 0.0050% | 4 h | +10.9% |

## Coins

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

## Questions

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

Bitget, at 11.96% a year at the rate we count (the higher of the current rate and the 24 h average), among 5 exchanges that lend W.

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

Not right now: no reverse W 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._