# What does it cost to borrow on the exchanges we record right now? Perp funding is only half of the cost of leverage; the other half is the interest a venue charges to borrow the asset or the stablecoin. We record each venue's published borrow rate every hour, annualise it, and set it against the venue's own funding so the carry of a basis trade is visible per exchange. Source: https://bykaranteli.com/borrow ยท attribute to ByKaranteli and quote the timestamp. Snapshot taken 2026-10-19T15:25:18.030Z. 3 venues, 15 assets, 41,014 hourly rows recorded since 2026-09-02. | Asset | Venue | Borrow APR (%) | Rate per period (%) | Period (h) | Read at (UTC) | | --- | --- | ---: | ---: | ---: | --- | | ADA | Binance | 3.98 | 0.01091 | 24 | 2026-10-19 11:00 UTC | | ADA | Bybit | 5.97 | 0.00068 | 1 | 2026-10-19 15:00 UTC | | ADA | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | | AVAX | Binance | 2.41 | 0.00660 | 24 | 2026-10-19 12:00 UTC | | AVAX | Bybit | 3.61 | 0.00041 | 1 | 2026-10-19 15:00 UTC | | AVAX | OKX | 9.40 | 9.40000 | 8760 | 2026-10-19 15:00 UTC | | BNB | Binance | 2.93 | 0.00804 | 24 | 2026-10-19 03:00 UTC | | BNB | Bybit | 4.40 | 0.00050 | 1 | 2026-10-19 15:00 UTC | | BNB | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | | BTC | Binance | 0.43 | 0.00117 | 24 | 2026-10-19 00:00 UTC | | BTC | Bybit | 0.43 | 0.00005 | 1 | 2026-10-19 15:00 UTC | | BTC | OKX | 0.50 | 0.50000 | 8760 | 2026-10-19 15:00 UTC | | DOGE | Binance | 3.49 | 0.00956 | 24 | 2026-10-19 14:00 UTC | | DOGE | Bybit | 5.24 | 0.00060 | 1 | 2026-10-19 15:00 UTC | | DOGE | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | | DOT | Binance | 1.35 | 0.00370 | 24 | 2026-10-19 15:00 UTC | | DOT | Bybit | 2.00 | 0.00023 | 1 | 2026-10-19 15:00 UTC | | DOT | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | | ETH | Binance | 2.01 | 0.00551 | 24 | 2026-10-19 15:00 UTC | | ETH | Bybit | 1.65 | 0.00019 | 1 | 2026-10-19 15:00 UTC | | ETH | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | | LINK | Binance | 0.57 | 0.00156 | 24 | 2026-10-19 12:00 UTC | | LINK | Bybit | 0.85 | 0.00010 | 1 | 2026-10-19 15:00 UTC | | LINK | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | | LTC | Binance | 2.88 | 0.00788 | 24 | 2026-10-19 15:00 UTC | | LTC | Bybit | 4.26 | 0.00049 | 1 | 2026-10-19 15:00 UTC | | LTC | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | | SOL | Binance | 5.46 | 0.01496 | 24 | 2026-10-19 14:00 UTC | | SOL | Bybit | 4.45 | 0.00051 | 1 | 2026-10-19 15:00 UTC | | SOL | OKX | 4.00 | 4.00000 | 8760 | 2026-10-19 15:00 UTC | | SUI | Binance | 1.51 | 0.00413 | 24 | 2026-10-19 13:00 UTC | | SUI | Bybit | 1.52 | 0.00017 | 1 | 2026-10-19 15:00 UTC | | SUI | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | | TRX | Binance | 10.40 | 0.02850 | 24 | 2026-10-19 14:00 UTC | | TRX | Bybit | 15.33 | 0.00175 | 1 | 2026-10-19 15:00 UTC | | TRX | OKX | 11.50 | 11.50000 | 8760 | 2026-10-19 15:00 UTC | | USDC | Binance | 5.15 | 0.01411 | 24 | 2026-10-19 09:00 UTC | | USDC | Bybit | 3.94 | 0.00045 | 1 | 2026-10-19 15:00 UTC | | USDC | OKX | 3.60 | 3.60000 | 8760 | 2026-10-19 15:00 UTC | | USDT | Binance | 4.90 | 0.01342 | 24 | 2026-10-19 14:00 UTC | | USDT | Bybit | 3.92 | 0.00045 | 1 | 2026-10-19 15:00 UTC | | USDT | OKX | 3.50 | 3.50000 | 8760 | 2026-10-19 15:00 UTC | | XRP | Binance | 3.58 | 0.00981 | 24 | 2026-10-19 14:00 UTC | | XRP | Bybit | 4.51 | 0.00051 | 1 | 2026-10-19 15:00 UTC | | XRP | OKX | 1.00 | 1.00000 | 8760 | 2026-10-19 15:00 UTC | Carry: the venue's perp funding annualised minus its borrow APR: | Asset | Venue | Borrow APR (%) | Funding APR (%) | Carry (pp) | | --- | --- | ---: | ---: | ---: | | ADA | Binance | 3.98 | -9.32 | -13.30 | | ADA | Bybit | 5.97 | -10.36 | -16.33 | | ADA | OKX | 1.00 | -6.85 | -7.85 | | AVAX | Binance | 2.41 | 2.78 | 0.37 | | AVAX | Bybit | 3.61 | 3.37 | -0.24 | | AVAX | OKX | 9.40 | 6.02 | -3.38 | | BNB | Binance | 2.93 | 1.59 | -1.34 | | BNB | Bybit | 4.40 | 10.95 | 6.55 | | BNB | OKX | 1.00 | 10.95 | 9.95 | | BTC | Binance | 0.43 | 8.60 | 8.17 | | BTC | Bybit | 0.43 | 6.09 | 5.66 | | BTC | OKX | 0.50 | 10.95 | 10.45 | | DOGE | Binance | 3.49 | 0.43 | -3.06 | | DOGE | Bybit | 5.24 | -0.22 | -5.46 | | DOGE | OKX | 1.00 | 0.56 | -0.44 | | DOT | Binance | 1.35 | -14.85 | -16.20 | | DOT | Bybit | 2.00 | 8.16 | 6.16 | | DOT | OKX | 1.00 | -0.62 | -1.62 | | ETH | Binance | 2.01 | 5.52 | 3.51 | | ETH | Bybit | 1.65 | 3.16 | 1.51 | | ETH | OKX | 1.00 | 7.68 | 6.68 | | LINK | Binance | 0.57 | 5.61 | 5.04 | | LINK | Bybit | 0.85 | 2.53 | 1.68 | | LINK | OKX | 1.00 | 7.70 | 6.70 | | LTC | Binance | 2.88 | 4.56 | 1.68 | | LTC | Bybit | 4.26 | 6.60 | 2.34 | | LTC | OKX | 1.00 | 7.09 | 6.09 | | SOL | Binance | 5.46 | 4.08 | -1.38 | | SOL | Bybit | 4.45 | -2.56 | -7.01 | | SOL | OKX | 4.00 | 10.37 | 6.37 | | SUI | Binance | 1.51 | 10.95 | 9.44 | | SUI | Bybit | 1.52 | 5.20 | 3.67 | | SUI | OKX | 1.00 | 10.95 | 9.95 | | TRX | Binance | 10.40 | 5.12 | -5.28 | | TRX | Bybit | 15.33 | 6.40 | -8.93 | | TRX | OKX | 11.50 | 4.80 | -6.70 | | XRP | Binance | 3.58 | 2.71 | -0.87 | | XRP | Bybit | 4.51 | -1.85 | -6.35 | | XRP | OKX | 1.00 | 4.13 | 3.13 | ## Related - https://bykaranteli.com/heatmap - https://bykaranteli.com/funding-arb - https://bykaranteli.com/fees - https://bykaranteli.com/leverage - https://bykaranteli.com/chart Everything in one fetch: https://bykaranteli.com/llms-full.txt