Operating in the margin wallet, why are the fees for borrowing coins so high?

So I'm new to shorting and I used to be going to brief ETH at this time; I used to be all able to do it till I saw that the payment for holding borrowed ETH is about 5% USD (in the event you convert the ETH to USD) a day when you add up the hourly fees. That's ridiculous!! Within the stock market the fees are much lower. Idk if for exchanges lending out a coin is costlier than lending out stablecoins or fiat.

Until you're a day dealer on low time frames or have some huge cash, that is highly unprofitable.

I used to be going to brief $40 value of ETH hoping it will go down in the following week, and simply holding that for 7 days would put me down $14. What variety a bs is that?! Holding for one month would put me down $60 lmao.

I don't know if I calculated this mistaken are what, however I don't know who would brief on Binance.

EDIT:

My maths was off, they actually cost 0.8-1% a day kind of for the ETH you borrow. But still, it's pretty expensive