Funding you earn now, next payment 08:00 UTC+0.0724%/8h= +79.3% APRpaid last 24h +0.092%
Price spread now: Variational Omni against Coinbase International+1.121%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Variational Omni is 1.121% dearer against Coinbase International than usual: you sell high and buy low: +$112 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MERL-PERP-INTX | 0.02822 | −0.0624 | get 0.0078% / 1h | 39m 25s | $16K | $488K | 50x |
| Short | Variational Omni MERL | 0.02854 | 0.0100 | get 0.0100% / 8h | 7h 39m | $9K | $414 | — |
Coinbase International MERL-PERP-INTX
Variational Omni MERLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- $152.04
- Price spread: +1.121% → 0.000%
- $112.06
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $254.1
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Coinbase International: live order book, 59 min ago; Variational Omni: no order-book sample. 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 Coinbase International live order book, 59 min ago | 17.87 bp | 146.4 bp −$146 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni no order-book sample | — | — | — | — | — |
Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0624% | 1h | 0.02822 | long leg | $16K | $488K | 50x | |
| Deribit MERL_USDC-PERPETUAL | −0.0378% | 1h | 0.02864 | +1.460% | $56K | $66K | 10x | as long as short |
| Orderly PERP_MERL_USDC | +0.0069% | 4h | 0.02862 | +1.403% | $14K | $2K | 10x | as long as short |
| Hyperliquid MERL | +0.0100% | 1h | 0.02869 | +1.651% | $476K | $155K | 3x | as long as short |
| Aster MERLUSDT | +0.0100% | 4h | 0.02865 | +1.523% | $4K | $5K | 5x | as long as short |
| Binance MERLUSDT | +0.0100% | 4h | 0.02868 | +1.616% | $1.9M | $2.5M | 50x | as long as short |
| OKX MERL-USDT-SWAP | +0.0100% | 4h | 0.02870 | +1.687% | $1.3M | $2.4M | 20x | as long as short |
| Gate MERL_USDT | +0.0100% | 8h | 0.02861 | +1.368% | $258K | $68K | 25x | as long as short |
| MEXC MERL_USDT | +0.0100% | 4h | 0.02871 | +1.722% | $3.6M | $129K | 100x | as long as short |
| KuCoin MERLUSDTM | +0.0100% | 4h | 0.02866 | +1.545% | $902K | $43K | 30x | as long as short |
Deribit MERL_USDC-PERPETUAL
Orderly PERP_MERL_USDC
Hyperliquid MERL
Aster MERLUSDT
Binance MERLUSDT
OKX MERL-USDT-SWAP
Gate MERL_USDT
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 | 0.02871 | +1.722% | $1.7M | $288K | 25x | as long as short |
| Variational Omni MERLshort | +0.0100% | 8h | 0.02854 | +1.121% | $9K | $414 | — | |
| SunX MERL-USDT | +0.0100% | 4h | 0.02864 | +1.474% | $1K | $1.2M | 20x | as long as short |
| BloFin MERL-USDT | +0.0109% | 4h | 0.02864 | +1.474% | $123K | $5K | 50x | as long as short |
| BingX MERL-USDT | +0.0330% | 4h | 0.02864 | +1.474% | — | $6.6M | — | as long as short |
| Bybit MERLUSDT | +0.0514% | 8h | 0.02867 | +1.580% | $1.3M | $483K | 25x | as long as short |
Bitget MERLUSDT
SunX MERL-USDT
BloFin MERL-USDT
BingX MERL-USDT
Bybit MERLUSDT