On Binance, borrowing USDT on margin cost 5.97% a year in the Nov 3 read at 05:25 UTC, the highest of the three venues we track. Bybit charged 3.93%, and the median across venues was 4%.
Bitcoin itself was far cheaper to borrow. OKX lent $BTC at 0.5% a year. Leveraged Bitcoin longs on the same exchange paid 10.95% a year in funding, the regular fee longs hand to shorts to keep their bets open.
That left a recorded 10.45% gap between the two rates, the widest among the 15 assets we track.
Bitcoin itself was far cheaper to borrow. OKX lent $BTC at 0.5% a year. Leveraged Bitcoin longs on the same exchange paid 10.95% a year in funding, the regular fee longs hand to shorts to keep their bets open.
That left a recorded 10.45% gap between the two rates, the widest among the 15 assets we track.
