MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0001%/8h= +0.1% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Aster against Orderly+0.040%49s7-day average — · you sell dearer than you buy

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

Long on Orderly 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 0.040% dearer against Orderly than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	Orderly PERP_MERL_USDC	0.02760	0.0099	pay 0.0050% / 4h	2h 39m	$14K	$2K	10x
Short	Aster MERLUSDT	0.02761	0.0100	get 0.0050% / 4h	2h 39m	$3K	$263	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Orderly. 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 OrderlybpFee AsterbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0.16
Price spread: +0.040% → 0.000%: $3.97
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$9.87
Costs to cover: 0.140%
Break-even: 439.7 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Orderly and 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	−0.0272%	1h	0.02748	−0.435%	$25K	$636K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	−0.0112%	1h	0.02760	−0.014%	$52K	$43K	10x	as long as short
Orderly PERP_MERL_USDClong	+0.0099%	4h	0.02760	long leg	$14K	$2K	10x
Hyperliquid MERL	+0.0100%	1h	0.02762	+0.087%	$432K	$138K	3x	as long as short
Aster MERLUSDTshort	+0.0100%	4h	0.02761	+0.040%	$3K	$263	5x
Binance MERLUSDT	+0.0100%	4h	0.02761	+0.036%	$1.9M	$1.8M	50x	as long as short
Bybit MERLUSDT	+0.0100%	8h	0.02754	−0.217%	$1.2M	$385K	25x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02758	−0.072%	$1.3M	$1.9M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02760	0.000%	$250K	$52K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02761	+0.036%	$14.5M	$119K	100x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MERLUSDTM	+0.0100%	4h	0.02764	+0.145%	$885K	$39K	30x	as long as short
Bitget MERLUSDT	+0.0100%	4h	0.02763	+0.109%	$1.6M	$239K	25x	as long as short
BingX MERL-USDT	+0.0100%	4h	0.02761	+0.036%	—	$6.6M	—	as long as short
Variational Omni MERL	+0.0100%	8h	0.02759	−0.035%	$9K	$240	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02759	−0.036%	$1K	$918K	20x	as long as short
BloFin MERL-USDT	+0.0156%	4h	0.02767	+0.254%	$121K	$3K	50x	as long as short