MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0025%/8h= −2.7% APRnext payment −$0.12 per $10,000 · paid last 24h +0.004%

Price spread now: KuCoin against BloFin+0.140%80s7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$513as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$5165.163% of the position

Long on BloFin Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.548%−$55 · spread now +0.140%, 7d avg +0.068%

Together, before fees−0.514%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.072% dearer against BloFin than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of +0.068%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.7 days. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MERL-USDT	0.02853	0.0125	pay 0.0062% / 4h	3h 43m	$122K	$5K	50x
Short	KuCoin MERLUSDTM	0.02857	0.0100	get 0.0050% / 4h	3h 43m	$899K	$44K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BloFin. 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 BloFinbpFee KuCoinbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$5.23
Price spread: +0.140% → +0.068%: $7.23
Slippage, 4 orders: −$492.32
Fee BloFin: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$514.32
Costs to cover: 5.163%
Break-even: never at this rate

Slippage from BloFin: live order book, 12 min ago; KuCoin: live order book, 30 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 BloFin live order book, 12 min ago	7.01 bp	30.7 bp −$31	135.0 bp −$1,350	doesn't fit	doesn't fit
Sell KuCoin live order book, 30 min ago	19.36 bp	159.6 bp −$160	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	0.02822	−1.073%	$16K	$488K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	−0.0624%	1h	0.02859	+0.221%	$56K	$66K	10x	as long as short
Orderly PERP_MERL_USDC	+0.0069%	4h	0.02858	+0.175%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02857	+0.147%	$474K	$158K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02857	+0.141%	$4K	$5K	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02859	+0.210%	$1.9M	$2.5M	50x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02860	+0.245%	$1.3M	$2.4M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02860	+0.245%	$258K	$68K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02860	+0.245%	$3.6M	$129K	100x	as long as short
KuCoin MERLUSDTMshort	+0.0100%	4h	0.02857	+0.140%	$899K	$44K	30x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MERLUSDT	+0.0100%	4h	0.02861	+0.280%	$1.7M	$287K	25x	as long as short
Variational Omni MERL	+0.0100%	8h	0.02849	−0.157%	$9K	$414	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02858	+0.175%	$2K	$1.2M	20x	as long as short
BloFin MERL-USDTlong	+0.0125%	4h	0.02853	long leg	$122K	$5K	50x
Bybit MERLUSDT	+0.0330%	8h	0.02853	0.000%	$1.2M	$489K	25x	as long as short
BingX MERL-USDT	+0.0538%	4h	0.02859	+0.210%	—	$6.6M	—	as long as short