MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0017%/8h= −1.9% APRnext payment −$0.09 per $10,000 · paid last 24h −0.003%

Price spread now: BloFin against KuCoin+0.218%110s7-day average −0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$497as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$4944.943% of the position

Long on KuCoin Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 3 days (all we have)−0.126%−$13 · spread now +0.218%, 7d avg −0.066%

Together, before fees−0.158%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.284% dearer against KuCoin than usual: you sell high and buy low (spread +0.218% now, against its 7-day average of −0.066%): +$28 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 55 days. The two prices were read 110 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	KuCoin MERLUSDTM	0.02756	0.0100	pay 0.0050% / 4h	3h 53m	$888K	$63K	30x
Short	BloFin MERL-USDT	0.02762	0.0083	get 0.0041% / 4h	3h 53m	$120K	$3K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.218%Rate

Funding earned: −$3.58
Price spread: +0.218% → −0.066%: $28.38
Slippage, 4 orders: −$470.28
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$469.47
Costs to cover: 4.943%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; BloFin: live order book, 2 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, 1 min ago	27.22 bp	250.7 bp −$251	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	5.45 bp	25.8 bp −$26	80.2 bp −$802	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-INTX	−0.0152%	1h	0.02748	−0.301%	$27K	$513K	50x	as long as short
Gate MERL_USDT	+0.0032%	8h	0.02750	−0.218%	$254K	$65K	25x	as long as short
BloFin MERL-USDTshort	+0.0083%	4h	0.02762	+0.218%	$120K	$3K	50x
Orderly PERP_MERL_USDC	+0.0099%	4h	0.02752	−0.145%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02752	−0.156%	$440K	$132K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02753	−0.120%	$3K	$427	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02751	−0.181%	$1.8M	$2.1M	50x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02747	−0.327%	$1.3M	$2.5M	20x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02751	−0.181%	$14.4M	$113K	100x	as long as short
KuCoin MERLUSDTMlong	+0.0100%	4h	0.02756	long leg	$888K	$63K	30x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MERLUSDT	+0.0100%	4h	0.02757	+0.036%	$1.6M	$285K	25x	as long as short
Variational Omni MERL	+0.0100%	8h	0.02751	−0.195%	$9K	$188	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02748	−0.290%	$2K	$1.0M	20x	as long as short
Deribit MERL_USDC-PERPETUAL	+0.0295%	1h	0.02752	−0.134%	$49K	$61K	10x	as long as short
Bybit MERLUSDT	+0.0355%	8h	0.02742	−0.508%	$1.2M	$441K	25x	as long as short
BingX MERL-USDT	+0.0424%	4h	0.02751	−0.181%	—	$6.6M	—	as long as short