MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0553%/8h= +60.5% APRnext payment +$2.76 per $10,000 · paid last 24h +0.094%

Price spread now: BingX against Orderly−0.110%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on BingX

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—needs both histories

Funding pays, the price is against you. BingX is 0.110% cheaper against Orderly than usual: you would sell low and buy high (spread −0.110% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 16 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MERL_USDC	0.02719	0.0097	pay 0.0049% / 4h	1h 21m	$13K	$2K	10x
Short	BingX MERL-USDT	0.02716	0.0650	get 0.0325% / 4h	1h 21m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.110%Rate

Funding earned: $116.06
Price spread: −0.110% → 0.000%: −$11.03
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: $89.03
Costs to cover: 0.160%
Break-even: 1.6 days

Slippage unknown: Orderly: no order-book sample; BingX: live order book, 6 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 Orderly no order-book sample	—	—	—	—	—
Sell BingX live order book, 6 min ago	7.38 bp	35.3 bp −$35	91.1 bp −$911	714.3 bp −$71.4K	doesn't fit

Orderly: 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	−0.0128%	1h	0.02708	−0.390%	$26K	$505K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	0.0000%	1h	0.02719	+0.015%	$47K	$63K	10x	as long as short
BloFin MERL-USDT	+0.0049%	4h	0.02722	+0.110%	$120K	$3K	50x	as long as short
Orderly PERP_MERL_USDClong	+0.0097%	4h	0.02719	long leg	$13K	$2K	10x
Hyperliquid MERL	+0.0100%	1h	0.02721	+0.059%	$436K	$134K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02720	+0.020%	$3K	$427	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02721	+0.074%	$1.8M	$2.1M	50x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02715	−0.147%	$1.2M	$2.5M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02720	+0.037%	$251K	$66K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02721	+0.074%	$14.3M	$112K	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	0.02718	−0.037%	$876K	$65K	30x	as long as short
Bitget MERLUSDT	+0.0100%	4h	0.02725	+0.221%	$1.6M	$289K	25x	as long as short
Variational Omni MERL	+0.0100%	8h	0.02701	−0.674%	$9K	$163	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02716	−0.110%	$2K	$997K	20x	as long as short
BingX MERL-USDTshort	+0.0650%	4h	0.02716	−0.110%	—	$6.6M	—
Bybit MERLUSDT	+0.0721%	8h	0.02710	−0.331%	$1.2M	$470K	25x	as long as short