Funding arb · Price arb /

MERL

all MERL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against KuCoin+0.901%7-day average −0.096% · you sell dearer than you buy

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

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.656%−$66 · spread now +0.901%, 7d avg −0.096%

Together, before fees−0.667%−$67 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: SunX is 0.997% dearer against KuCoin than usual: you sell high and buy low, +$100 on $10k if it goes back to its 7-day average of −0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MERLUSDTM	0.02887	0.0100	pay 0.0050% / 4h	2h 17m	$902K	$44K	30x
Short	SunX MERL-USDT	0.02913	0.0100	get 0.0050% / 4h	2h 17m	$2K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.901%Rate

Funding earned: $0
Price spread: +0.901% → −0.096%: $99.65
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $79.65
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 29 min ago; SunX: live order book, 9 min ago. 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, 29 min ago	22.28 bp	312.7 bp −$313	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	500.77 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

MERL on 16 exchanges

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	−0.1208%	1h	0.02899	+0.423%	$17K	$405K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	−0.0093%	1h	0.02912	+0.869%	$51K	$59K	10x	as long as short
Gate MERL_USDT	−0.0081%	8h	0.02889	+0.069%	$260K	$69K	25x	as long as short
Orderly PERP_MERL_USDC	+0.0053%	4h	0.02915	+0.970%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02903	+0.565%	$483K	$152K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02894	+0.245%	$4K	$5K	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02894	+0.250%	$1.9M	$2.5M	50x	as long as short
Bybit MERLUSDT	+0.0100%	8h	0.02888	+0.035%	$1.2M	$502K	25x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02894	+0.242%	$1.3M	$2.5M	20x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02889	+0.069%	$3.6M	$139K	100x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MERLUSDTMlong	+0.0100%	4h	0.02887	long leg	$902K	$44K	30x
Bitget MERLUSDT	+0.0100%	4h	0.02896	+0.312%	$1.7M	$284K	25x	as long as short
BingX MERL-USDT	+0.0100%	4h	0.02890	+0.104%	—	$6.6M	—	as long as short
Variational Omni MERL	+0.0100%	8h	0.02911	+0.828%	$10K	$499	—	as long as short
SunX MERL-USDTshort	+0.0100%	4h	0.02913	+0.901%	$2K	$1.2M	20x
BloFin MERL-USDT	+0.0133%	4h	0.02921	+1.178%	$126K	$5K	50x	as long as short