Funding arb · Price arb /

MERL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against KuCoin−0.147%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.147% cheaper against KuCoin than usual: you would sell low and buy high, −$15 on $10k if it 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	KuCoin MERLUSDTM	0.02755	0.0100	pay 0.0050% / 4h	25m 52s	$885K	$41K	30x
Short	Aster MERLUSDT	0.02751	0.0100	get 0.0050% / 4h	25m 52s	$3K	$497	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee AsterbpOrdersPrice spread, now −0.147%Rate

Funding earned: $0
Price spread: −0.147% → 0.000%: −$14.72
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$34.72
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 14 min ago; Aster: 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 KuCoin live order book, 14 min ago	12.76 bp	213.9 bp −$214	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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-INTX	−0.0232%	1h	0.02732	−0.824%	$29K	$503K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	0.0000%	1h	0.02754	−0.054%	$49K	$55K	10x	as long as short
BloFin MERL-USDT	+0.0049%	4h	0.02753	−0.073%	$120K	$3K	50x	as long as short
Orderly PERP_MERL_USDC	+0.0099%	4h	0.02752	−0.109%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02755	−0.011%	$433K	$134K	3x	as long as short
Aster MERLUSDTshort	+0.0100%	4h	0.02751	−0.147%	$3K	$497	5x
Binance MERLUSDT	+0.0100%	4h	0.02755	−0.005%	$1.8M	$2.0M	50x	as long as short
Bybit MERLUSDT	+0.0100%	8h	0.02747	−0.290%	$1.2M	$411K	25x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02753	−0.073%	$1.2M	$2.3M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02751	−0.145%	$252K	$60K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MERL_USDT	+0.0100%	4h	0.02753	−0.073%	$14.4M	$119K	100x	as long as short
KuCoin MERLUSDTMlong	+0.0100%	4h	0.02755	long leg	$885K	$41K	30x
Bitget MERLUSDT	+0.0100%	4h	0.02758	+0.109%	$1.6M	$241K	25x	as long as short
BingX MERL-USDT	+0.0100%	4h	0.02751	−0.145%	—	$6.6M	—	as long as short
Variational Omni MERL	+0.0100%	8h	0.02747	−0.291%	$9K	$168	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02753	−0.073%	$2K	$988K	20x	as long as short