MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0509%/8h= −55.8% APRnext payment −$2.55 per $10,000 · paid last 24h −0.094%

Price spread now: Orderly against BingX+0.073%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.073% dearer against BingX than usual: you sell high and buy low (spread +0.073% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MERL-USDT	0.02751	0.0608	pay 0.0304% / 4h	2m 36s	—	$6.6M	—
Short	Orderly PERP_MERL_USDC	0.02753	0.0099	get 0.0049% / 4h	2m 36s	$14K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee OrderlybpOrdersPrice spread, now +0.073%Rate

Funding earned: −$106.92
Price spread: +0.073% → 0.000%: $7.27
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$115.65
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 9 min ago; Orderly: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 9 min ago	5.49 bp	28.3 bp −$28	81.8 bp −$818	744.9 bp −$74.5K	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MERL on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MERL-PERP-INTX	−0.0136%	1h	0.02748	−0.120%	$27K	$513K	50x	as long as short
Orderly PERP_MERL_USDCshort	+0.0099%	4h	0.02753	+0.073%	$14K	$2K	10x
Hyperliquid MERL	+0.0100%	1h	0.02757	+0.222%	$441K	$133K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02755	+0.155%	$3K	$427	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02753	+0.073%	$1.9M	$2.1M	50x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02753	+0.073%	$1.3M	$2.6M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02751	0.000%	$254K	$66K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02755	+0.145%	$14.5M	$117K	100x	as long as short
KuCoin MERLUSDTM	+0.0100%	4h	0.02752	+0.036%	$887K	$64K	30x	as long as short
Bitget MERLUSDT	+0.0100%	4h	0.02753	+0.073%	$1.6M	$285K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MERL	+0.0100%	8h	0.02735	−0.577%	$9K	$188	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02749	−0.073%	$1K	$1.0M	20x	as long as short
Deribit MERL_USDC-PERPETUAL	+0.0113%	1h	0.02753	+0.065%	$49K	$61K	10x	as long as short
BloFin MERL-USDT	+0.0150%	4h	0.02752	+0.036%	$119K	$3K	50x	as long as short
BingX MERL-USDTlong	+0.0608%	4h	0.02751	long leg	—	$6.6M	—
Bybit MERLUSDT	+0.0676%	8h	0.02744	−0.254%	$1.2M	$445K	25x	as long as short