> ## Documentation Index
> Fetch the complete documentation index at: https://docs.spreader.sh/llms.txt
> Use this file to discover all available pages before exploring further.

> ## Agent Instructions
> Spreader is a web service that tracks arbitrage spreads between crypto exchanges. This documentation covers only what a user of the service sees and does.
> Page paths starting with /en/ are English. Translations live under /ru/ and /uk/ with the same file names.
> Screenshots are illustrations. Every screenshot is accompanied by text that states the same facts, so you do not need to see the image.

# Loans

> Loans shows where a coin can be borrowed: on margin as the short leg of a spread and in exchange loan products, with hourly and yearly rates, limits, pools and leverage.

Open **Tools › Loans** or go to `/tools/loans`. A coin has its own address `/tools/loans/<id>` with the segments `/margin` and `/loans`.

![Loans: coins with M and L badges on the left, offers of the selected coin on the right.](https://mintcdn.com/develops-6bdfff15/wHoc8ymqHXCxymk7/images/tools/loans-en-dark.png?fit=max\&auto=format\&n=wHoc8ymqHXCxymk7\&q=85\&s=14b77644e9e463aac4cc441f5e65367b)

Loans: coins with M and L badges on the left, offers of the selected coin on the right.

## The list

Coins with offers carry badges: **M** for margin (how many exchanges let you borrow it against a short) and **L** for loan products (how many offers). A coin without badges has no offers we can see. The summary reads `N coins · N on margin · N with loans`. Search by ticker with **Search coin**.

## The table

Pick a coin, then a segment: **All**, **Margin** or **Loans**.

| Column | Meaning |
| - | - |
| **Exchange** | Where to borrow. |
| **Product** | Margin or the loan product name. |
| **Term** | `flexible` or a fixed term. |
| **Rate / h** | Hourly borrow rate. For margin this is the rate that enters the APR of `spot-margin` and `perp-margin` spreads. |
| **APR** | Yearly rate. |
| **Min**, **Max** | Limits per account. |
| **Pool** | What is left to borrow. |
| **Leverage** | Maximum leverage of the margin product. |
| **Updated** | Age of the data. Offers are refreshed about once an hour. |

**Alert** in the header creates a rule **Alert when the borrow pool is available**, see [Alerts on a market](https://docs.spreader.sh/en/alerts/pair-and-market.md). **No offers for this coin** means the exchanges have none or we cannot see them.


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