MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0047%/8h= +5.2% APRnext payment +$0.24 per $10,000 · paid last 24h +0.006%

Price spread now: SunX against Orderly+0.103%7-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 SunX

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SunX is 0.103% dearer against Orderly than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MERL_USDC	0.02917	0.0053	pay 0.0026% / 4h	2h 21m	$14K	$2K	10x
Short	SunX MERL-USDT	0.02920	0.0100	get 0.0050% / 4h	2h 21m	$2K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.103%Rate

Funding earned: $9.93
Price spread: +0.103% → 0.000%: $10.28
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: $6.21
Costs to cover: 0.140%
Break-even: 2.6 days

Slippage unknown: Orderly: no order-book sample; SunX: 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 SunX live order book, 6 min ago	500.77 bp	doesn't fit	doesn't fit	doesn't fit	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 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	0.02903	−0.490%	$17K	$406K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	0.0000%	1h	0.02917	0.000%	$51K	$60K	10x	as long as short
Orderly PERP_MERL_USDClong	+0.0053%	4h	0.02917	long leg	$14K	$2K	10x
Hyperliquid MERL	+0.0100%	1h	0.02916	−0.045%	$485K	$151K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02917	+0.002%	$4K	$5K	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02917	+0.002%	$1.9M	$2.5M	50x	as long as short
Bybit MERLUSDT	+0.0100%	8h	0.02912	−0.171%	$1.2M	$501K	25x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02914	−0.103%	$1.4M	$2.5M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02919	+0.069%	$262K	$68K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02917	0.000%	$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 MERLUSDTM	+0.0100%	4h	0.02913	−0.137%	$910K	$44K	30x	as long as short
Bitget MERLUSDT	+0.0100%	4h	0.02919	+0.069%	$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	0.02910	−0.226%	$10K	$499	—	as long as short
SunX MERL-USDTshort	+0.0100%	4h	0.02920	+0.103%	$2K	$1.2M	20x
BloFin MERL-USDT	+0.0145%	4h	0.02921	+0.137%	$126K	$5K	50x	as long as short