Funding you earn now, next payment 04:00 UTC+0.0460%/8h= +50.4% APRpaid last 24h +0.075%
Price spread now: Gate against Coinbase International+0.259%7-day average +0.555% · you sell dearer than you buy
Net, funding: paid 7d − costs−$201as in the Funding arb table
Net, price: spread back to 7d avg − costs−$216as in the Price arb table
costs, in and out, $10k−$1861.864% of the position
Funding, last 7 days−0.151%−$15 on $10k
+Price spread, last 4 days (all we have)−0.586%−$59 · spread now +0.259%, 7d avg +0.555%
=Funding pays, the price is against you. Gate is 0.295% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.259% now, against its 7-day average of +0.555%). If the spread goes back, that is −$30 on $10k: about 2.1 days of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.151%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.151% in total (about -7.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MERL-PERP-INTX | 0.02775 | −0.0360 | get 0.0045% / 1h | 31m 40s | $26K | $565K | 50x |
| Short | Gate MERL_USDT | 0.02782 | 0.0100 | get 0.0100% / 8h | 3h 31m | $253K | $55K | 25x |
Coinbase International MERL-PERP-INTX
Gate MERL_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $96.6
- Price spread: +0.259% → +0.555%
- −$29.54
- Slippage, 4 orders
- −$161.36
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$119.31
- Costs to cover
- 1.864%
- Break-even
- 15.6 days
Slippage from Coinbase International: live order book, 22 min ago; Gate: live order book, 15 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 Coinbase International live order book, 22 min ago | 12.81 bp | 29.4 bp −$29 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 15 min ago | 5.43 bp | 72.8 bp −$73 | 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-INTXlong | −0.0360% | 1h | 0.02775 | long leg | $26K | $565K | 50x | |
| Orderly PERP_MERL_USDC | +0.0098% | 4h | 0.02775 | +0.007% | $14K | $2K | 10x | as long as short |
| Hyperliquid MERL | +0.0100% | 1h | 0.02781 | +0.216% | $435K | $138K | 3x | as long as short |
| Aster MERLUSDT | +0.0100% | 4h | 0.02779 | +0.167% | $3K | $263 | 5x | as long as short |
| Binance MERLUSDT | +0.0100% | 4h | 0.02784 | +0.334% | $1.9M | $2.0M | 50x | as long as short |
| Bybit MERLUSDT | +0.0100% | 8h | 0.02779 | +0.151% | $1.2M | $417K | 25x | as long as short |
| OKX MERL-USDT-SWAP | +0.0100% | 4h | 0.02784 | +0.332% | $1.3M | $2.4M | 20x | as long as short |
| Gate MERL_USDTshort | +0.0100% | 8h | 0.02782 | +0.259% | $253K | $55K | 25x | |
| MEXC MERL_USDT | +0.0100% | 4h | 0.02782 | +0.259% | $14.6M | $120K | 100x | as long as short |
| KuCoin MERLUSDTM | +0.0100% | 4h | 0.02776 | +0.043% | $892K | $40K | 30x | as long as short |
Orderly PERP_MERL_USDC
Hyperliquid MERL
Aster MERLUSDT
Binance MERLUSDT
Bybit MERLUSDT
OKX MERL-USDT-SWAP
MEXC MERL_USDT
KuCoin MERLUSDTMShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MERLUSDT | +0.0100% | 4h | 0.02788 | +0.476% | $1.7M | $233K | 25x | as long as short |
| BingX MERL-USDT | +0.0100% | 4h | 0.02783 | +0.296% | — | $6.6M | — | as long as short |
| Variational Omni MERL | +0.0100% | 8h | 0.02757 | −0.641% | $9K | $168 | — | as long as short |
| SunX MERL-USDT | +0.0100% | 4h | 0.02762 | −0.461% | $2K | $995K | 20x | as long as short |
| BloFin MERL-USDT | +0.0144% | 4h | 0.02762 | −0.461% | $120K | $3K | 50x | as long as short |
| Deribit MERL_USDC-PERPETUAL | +0.0579% | 1h | 0.02777 | +0.079% | $51K | $56K | 10x | as long as short |
Bitget MERLUSDT
BingX MERL-USDT
Variational Omni MERL
SunX MERL-USDT
BloFin MERL-USDT
Deribit MERL_USDC-PERPETUAL