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: MEXC against OKX+0.069%7-day average +0.084% · you sell dearer than you buy
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$1111.110% of the position
Funding, last 7 days+0.065%+$7 on $10k
+Price spread, last 7 days+0.040%+$4 · spread now +0.069%, 7d avg +0.084%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX MERL-USDT-SWAP | 0.02913 | 0.0100 | pay 0.0050% / 4h | 2h 18m | $1.4M | $2.5M | 20x |
| Short | MEXC MERL_USDT | 0.02915 | 0.0100 | get 0.0050% / 4h | 2h 18m | $3.6M | $139K | 100x |
OKX MERL-USDT-SWAP
MEXC MERL_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against OKX. 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
- $0
- Price spread: +0.069% → +0.084%
- −$1.55
- Slippage, 4 orders
- −$96.96
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$112.51
- Costs to cover
- 1.110%
- Break-even
- never at this rate
Slippage from OKX: live order book, 1 min ago; MEXC: 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 OKX live order book, 1 min ago | 1.72 bp | 50.5 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 3.43 bp | 5.4 bp −$5 | 73.5 bp −$735 | 170.1 bp −$17.0K | 481.0 bp −$240.5K |
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 | −0.474% | $17K | $405K | 50x | as long as short |
| Deribit MERL_USDC-PERPETUAL | −0.0162% | 1h | 0.02914 | +0.034% | $51K | $60K | 10x | as long as short |
| Orderly PERP_MERL_USDC | +0.0053% | 4h | 0.02915 | +0.069% | $14K | $2K | 10x | as long as short |
| Hyperliquid MERL | +0.0100% | 1h | 0.02914 | +0.021% | $484K | $151K | 3x | as long as short |
| Aster MERLUSDT | +0.0100% | 4h | 0.02915 | +0.083% | $4K | $5K | 5x | as long as short |
| Binance MERLUSDT | +0.0100% | 4h | 0.02915 | +0.072% | $1.9M | $2.5M | 50x | as long as short |
| Bybit MERLUSDT | +0.0100% | 8h | 0.02908 | −0.172% | $1.2M | $501K | 25x | as long as short |
| OKX MERL-USDT-SWAPlong | +0.0100% | 4h | 0.02913 | long leg | $1.4M | $2.5M | 20x | |
| Gate MERL_USDT | +0.0100% | 8h | 0.02918 | +0.172% | $262K | $68K | 25x | as long as short |
| MEXC MERL_USDTshort | +0.0100% | 4h | 0.02915 | +0.069% | $3.6M | $139K | 100x |
Coinbase International MERL-PERP-INTX
Deribit MERL_USDC-PERPETUAL
Orderly PERP_MERL_USDC
Hyperliquid MERL
Aster MERLUSDT
Binance MERLUSDT
Bybit MERLUSDT
Gate MERL_USDTShow all 16 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin MERLUSDTM | +0.0100% | 4h | 0.02913 | 0.000% | $910K | $44K | 30x | as long as short |
| Bitget MERLUSDT | +0.0100% | 4h | 0.02918 | +0.172% | $1.7M | $284K | 25x | as long as short |
| BingX MERL-USDT | +0.0100% | 4h | 0.02915 | +0.069% | — | $6.6M | — | as long as short |
| Variational Omni MERL | +0.0100% | 8h | 0.02911 | −0.072% | $10K | $499 | — | as long as short |
| SunX MERL-USDT | +0.0100% | 4h | 0.02915 | +0.069% | $2K | $1.2M | 20x | as long as short |
| BloFin MERL-USDT | +0.0133% | 4h | 0.02921 | +0.275% | $126K | $5K | 50x | as long as short |
KuCoin MERLUSDTM
Bitget MERLUSDT
BingX MERL-USDT
Variational Omni MERL
SunX MERL-USDT
BloFin MERL-USDT