Over at WoodenBoat Forum I mentioned traditional leathering over parcelling. But for non-traditional - clear plastic tubing reasonably snug. If you've not made the eye yet, super easy. If applying to an existing eye, slit the tubing and work it on. You don't even really need to seal up the slit, just serve up from each end a bit and as you put it on make sure the slit points away from the load.
G'luck
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