#Yes, but only under very specific circumstances
##Unless you prepared an action, you cannot cast earthbind while falling
The rule for falling assumes that a creature immediately drops the entire distance when it falls.
When you start falling, you drop immediately with no time to take an action. That is what makes feather fall so useful, because you can cast it as a reaction in response to falling which does interrupt the fall. Earthbind takes an action to cast and thus cannot be cast while falling.
The only way to get around this would have been to have prepared an action to cast earthbind if you start falling next round.
###Falling from >500 feet (optional rule)
Xanathars Guide to Everything provides an optional rule that allows for non-instant falling.
When you fall from a great height, you instantly descend up to 500 feet. If you’re still falling on your next turn, you descend up to 500 feet at the end of that turn.
So, if your DM is using the rule and if you fall from >500 feet you would be able to cast earthbind.