A leading exchange wallet recently launched a wave of lending activities, and the core selling point is one word - subsidies. They introduced negative interest rate borrowing, which means that when you borrow money, you not only don't have to pay interest, but the exchange also pays you rewards.

Let me give you some real data to feel it. My personal operation plan is as follows: deposit 5000 USDC, and I can get an annualized return of 2.15%. At the same time, I borrow 3000 USDT, where the annualized rate is -3.54%—yes, it’s a negative number, which means you can still earn money by borrowing. When you combine both sides, the overall annualized return can reach 5.69%.

This is not the ceiling yet. The borrowed USDT is not dead money; you can continue to participate in other financial or liquidity activities on the platform to further stack your earnings. Just pay attention to one detail: the minimum borrowing amount must exceed 100 USDT; it cannot be lower than this amount. Overall, this negative interest rate design is indeed a form of subsidy, and it presents a good arbitrage opportunity for users who have sufficient funds and are willing to participate deeply.