MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0006%/8h= +0.7% APRnext payment +$0.03 per $10,000 · paid last 24h +0.106%

Price spread now: BingX against KuCoin−0.073%7-day average −0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$475as in the Funding arb table

Net, price: spread back to 7d avg − costs−$502as in the Price arb table

costs, in and out, $10k−$5085.076% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.330%+$33 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now −0.073%, 7d avg −0.131%

Together, before fees+0.213%+$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.058% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.131%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MERLUSDTM	0.02742	0.0100	pay 0.0050% / 4h	3h 36m	$884K	$64K	30x
Short	BingX MERL-USDT	0.02740	0.0106	get 0.0053% / 4h	3h 36m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.073%Rate

Funding earned: $1.26
Price spread: −0.073% → −0.131%: $5.83
Slippage, 4 orders: −$485.63
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$500.54
Costs to cover: 5.076%
Break-even: 2787.8 days

Slippage from KuCoin: live order book, 18 min ago; BingX: live order book, 11 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 KuCoin live order book, 18 min ago	27.22 bp	250.7 bp −$251	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	7.30 bp	36.7 bp −$37	111.2 bp −$1,112	770.3 bp −$77.0K	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	−0.0152%	1h	0.02735	−0.274%	$27K	$510K	50x	as long as short
Orderly PERP_MERL_USDC	+0.0098%	4h	0.02742	0.000%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02745	+0.095%	$438K	$132K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02742	+0.002%	$3K	$427	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02742	+0.005%	$1.8M	$2.1M	50x	as long as short
Bybit MERLUSDT	+0.0100%	8h	0.02735	−0.255%	$1.2M	$435K	25x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02740	−0.073%	$1.2M	$2.5M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02740	−0.073%	$252K	$65K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02741	−0.036%	$14.4M	$114K	100x	as long as short
KuCoin MERLUSDTMlong	+0.0100%	4h	0.02742	long leg	$884K	$64K	30x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MERLUSDT	+0.0100%	4h	0.02749	+0.255%	$1.6M	$252K	25x	as long as short
Variational Omni MERL	+0.0100%	8h	0.02736	−0.216%	$9K	$188	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02738	−0.146%	$1K	$997K	20x	as long as short
BingX MERL-USDTshort	+0.0106%	4h	0.02740	−0.073%	—	$6.6M	—
BloFin MERL-USDT	+0.0124%	4h	0.02740	−0.073%	$120K	$3K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	+0.0261%	1h	0.02741	−0.022%	$49K	$61K	10x	as long as short