MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0026%/8h= +2.8% APRnext payment +$0.13 per $10,000 · paid last 24h +0.106%

Price spread now: BingX against Bitget−0.182%7-day average −0.145% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1221.222% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.340%+$34 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.182%, 7d avg −0.145%

Together, before fees+0.352%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.036% cheaper against Bitget than usual: you would sell low and buy high (spread −0.182% now, against its 7-day average of −0.145%). If the spread goes back, that is −$4 on $10k: about 4.7 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.340% in total) that is about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MERLUSDT	0.02753	0.0100	pay 0.0050% / 4h	3h 18m	$1.6M	$250K	25x
Short	BingX MERL-USDT	0.02748	0.0126	get 0.0063% / 4h	3h 18m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now −0.182%Rate

Funding earned: $5.46
Price spread: −0.182% → −0.145%: −$3.65
Slippage, 4 orders: −$100.23
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$120.41
Costs to cover: 1.222%
Break-even: 161.4 days

Slippage from Bitget: live order book, 3 min ago; BingX: live order book, 4 min ago.

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 Bitget live order book, 3 min ago	3.63 bp	29.8 bp −$30	241.6 bp −$2,416	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	9.09 bp	35.1 bp −$35	88.4 bp −$884	729.4 bp −$72.9K	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	−0.0152%	1h	0.02743	−0.381%	$26K	$512K	50x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02750	−0.102%	$437K	$133K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02750	−0.121%	$3K	$427	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02749	−0.138%	$1.8M	$2.1M	50x	as long as short
Bybit MERLUSDT	+0.0100%	8h	0.02742	−0.400%	$1.2M	$424K	25x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02745	−0.291%	$1.3M	$2.5M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02750	−0.109%	$253K	$65K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02748	−0.182%	$14.4M	$115K	100x	as long as short
KuCoin MERLUSDTM	+0.0100%	4h	0.02752	−0.036%	$887K	$64K	30x	as long as short
Bitget MERLUSDTlong	+0.0100%	4h	0.02753	long leg	$1.6M	$250K	25x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MERL	+0.0100%	8h	0.02745	−0.289%	$9K	$188	—	as long as short
Orderly PERP_MERL_USDC	+0.0100%	4h	0.02753	0.000%	$14K	$2K	10x	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02754	+0.036%	$2K	$996K	20x	as long as short
BingX MERL-USDTshort	+0.0126%	4h	0.02748	−0.182%	—	$6.6M	—
BloFin MERL-USDT	+0.0149%	4h	0.02758	+0.182%	$120K	$3K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	+0.0259%	1h	0.02754	+0.025%	$49K	$61K	10x	as long as short