MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0144%/8h= −15.8% APRnext payment −$0.72 per $10,000 · paid last 24h −0.106%

Price spread now: SunX against BingX−0.104%7-day average +0.021% · you buy dearer than you sell

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

Long on BingX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.341%−$34 on $10k

Price spread, last 4 days (all we have)+0.798%+$80 · spread now −0.104%, 7d avg +0.021%

Together, before fees+0.457%+$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SunX is 0.125% cheaper against BingX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MERL-USDT	0.02892	0.0244	pay 0.0122% / 4h	3h 19m	—	$6.6M	—
Short	SunX MERL-USDT	0.02889	0.0100	get 0.0050% / 4h	3h 19m	$2K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$30.24
Price spread: −0.104% → +0.021%: −$12.51
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$60.75
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 3 min ago; SunX: live order book, 4 min ago. 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, 3 min ago	8.65 bp	42.1 bp −$42	201.3 bp −$2,013	755.5 bp −$75.6K	1145.4 bp −$572.7K
Sell SunX live order book, 4 min ago	500.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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	−0.0624%	1h	0.02836	−1.926%	$16K	$490K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	0.0000%	1h	0.02893	+0.021%	$53K	$68K	10x	as long as short
Orderly PERP_MERL_USDC	+0.0065%	4h	0.02891	−0.035%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02893	+0.031%	$478K	$154K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02895	+0.091%	$4K	$5K	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02895	+0.104%	$1.9M	$2.5M	50x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02896	+0.138%	$1.3M	$2.5M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02891	−0.035%	$259K	$70K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02895	+0.104%	$3.6M	$131K	100x	as long as short
KuCoin MERLUSDTM	+0.0100%	4h	0.02894	+0.069%	$907K	$44K	30x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MERLUSDT	+0.0100%	4h	0.02895	+0.104%	$1.7M	$290K	25x	as long as short
Variational Omni MERL	+0.0100%	8h	0.02889	−0.118%	$9K	$439	—	as long as short
SunX MERL-USDTshort	+0.0100%	4h	0.02889	−0.104%	$2K	$1.2M	20x
BloFin MERL-USDT	+0.0128%	4h	0.02892	0.000%	$123K	$5K	50x	as long as short
BingX MERL-USDTlong	+0.0244%	4h	0.02892	long leg	—	$6.6M	—
Bybit MERLUSDT	+0.0426%	8h	0.02890	−0.069%	$1.3M	$486K	25x	as long as short