A leveraged bond position earns the running-yield and pays the repo rate. The difference is carry. With an upward-sloping curve, long bonds funded overnight produce positive carry and the position pays you to wait.
Carry is why an inverted-yield-curve is painful for leveraged bond holders: funding costs more than the bond yields, so time works against you and you need the price to move to break even.
Example: a 10-year yields 4.30% and repo funding costs 5.35%. Carry is -105 bp a year, roughly -8.75 bp a month. Yields must fall about 1 bp a month just to stand still on a position with duration 8.
Related: roll-down, running-yield, forward-rate, inverted-yield-curve