Differential charge-balancing can be used in high-frequency neural stimulation. For example, a neural stimulation apparatus can have first and second electrodes configured to be coupled proximate to a nerve fiber to implement a neural stimulation procedure. A neural stimulation circuit can be electrically coupled to the first and second electrodes. The neural stimulation circuit can apply stimulation currents to the nerve fiber through the first and second electrodes during a first stimulation phase of the neural stimulation procedure. The neural stimulation circuit can also apply a modified stimulation current to the nerve fiber through the first electrode during a second stimulation phase of the neural stimulation procedure. The modified stimulation current can be generated based on a difference between (i) a voltage at the first electrode, and (ii) a reference voltage derived from voltages on the first and second electrodes.