MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0013%/8h= +1.4% APRnext payment +$0.06 per $10,000 · paid last 24h +0.004%

Price spread now: SunX against BloFin0.000%55s7-day average −0.029% · you sell dearer than you buy

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

Long on BloFin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now 0.000%, 7d avg −0.029%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and SunX is 0.029% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.029%. The two prices were read 55 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	0.0087	pay 0.0044% / 4h	3h 45m	$122K	$5K	50x
Short	SunX MERL-USDT	0.02853	0.0100	get 0.0050% / 4h	3h 45m	$1K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $2.66
Price spread: 0.000% → −0.029%: $2.89
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$14.45
Costs to cover: 0.200%
Break-even: 45.0 days

Slippage unknown: BloFin: live order book, 10 min ago; SunX: live order book, 8 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 BloFin live order book, 10 min ago	7.01 bp	30.7 bp −$31	135.0 bp −$1,350	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	500.70 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
Deribit MERL_USDC-PERPETUAL	−0.1115%	1h	0.02853	0.000%	$56K	$66K	10x	as long as short
Coinbase International MERL-PERP-INTX	−0.0624%	1h	0.02822	−1.073%	$16K	$488K	50x	as long as short
Orderly PERP_MERL_USDC	+0.0069%	4h	0.02853	0.000%	$14K	$2K	10x	as long as short
BloFin MERL-USDTlong	+0.0087%	4h	0.02853	long leg	$122K	$5K	50x
Hyperliquid MERL	+0.0100%	1h	0.02853	−0.011%	$473K	$158K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02856	+0.105%	$4K	$5K	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02853	+0.014%	$1.9M	$2.5M	50x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02850	−0.105%	$1.3M	$2.4M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02855	+0.070%	$258K	$68K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02853	0.000%	$3.5M	$129K	100x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MERLUSDTM	+0.0100%	4h	0.02854	+0.035%	$898K	$44K	30x	as long as short
Bitget MERLUSDT	+0.0100%	4h	0.02857	+0.140%	$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-USDTshort	+0.0100%	4h	0.02853	0.000%	$1K	$1.2M	20x
Bybit MERLUSDT	+0.0434%	8h	0.02848	−0.175%	$1.2M	$489K	25x	as long as short
BingX MERL-USDT	+0.0538%	4h	0.02853	0.000%	—	$6.6M	—	as long as short