Margin borrow rates will change every hour, based on current market conditions. Margin borrow users will be charged interest for their borrowings on an hourly basis.
Calculating Borrow Rate
Assume that the current borrowing rate for DOGE is at 2.3% / year. The Borrow Rate formula uses hourly rates, so to convert the yearly rate to hourly we simply do the following:
= 2.3% / 365 / 24
= 0.000263%
Interest is paid every hour in the currency you’re borrowing. In this case, you’d be paying 0.0526 DOGE every hour to maintain your 20,000 DOGE borrowed.
Note about fees:
The borrow rates displayed on the borrows page are the actual rates you’d be paying for that hour.
Also, if funds are borrowed and withdrawn from the account, the expected borrow rate for the next hour will be applied to the withdrawn funds.
Users can check their outstanding borrows and respective borrow rate under: [User] - [My Fee Rates] - [Borrow Rates] tab
APP
Web Platform
Need More Help?
For further questions or issues, visit our Help Center or use our chatbot for immediate assistance. If you can't find the answers, submit a request ticket or email us. We're here to help. Happy trading!