Funding you earn now, next payment 08:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.002%
Price spread now: BloFin against Variational Omni+0.172%56s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
The price spread pays, funding is against you. BloFin is 0.172% dearer against Variational Omni than usual: you sell high and buy low (spread +0.172% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days. The two prices were read 56 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 | Variational Omni MERL | 0.02835 | 0.0100 | pay 0.0100% / 8h | 0m 17s | $9K | $414 | — |
| Short | BloFin MERL-USDT | 0.02840 | 0.0054 | get 0.0027% / 4h | 0m 17s | $122K | $4K | 50x |
Variational Omni MERL
BloFin MERL-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Variational Omni. 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
- −$9.67
- Price spread: +0.172% → 0.000%
- $17.22
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$4.44
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Variational Omni: no order-book sample; BloFin: live order book, 67 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 Variational Omni no order-book sample | — | — | — | — | — |
| Sell BloFin live order book, 67 min ago | 5.09 bp | 22.3 bp −$22 | 109.5 bp −$1,095 | doesn't fit | doesn't fit |
Variational Omni: 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MERL_USDC-PERPETUAL | −0.0736% | 1h | 0.02838 | +0.112% | $56K | $66K | 10x | as long as short |
| Coinbase International MERL-PERP-INTX | −0.0328% | 1h | 0.02822 | −0.449% | $16K | $491K | 50x | as long as short |
| BloFin MERL-USDTshort | +0.0054% | 4h | 0.02840 | +0.172% | $122K | $4K | 50x | |
| Orderly PERP_MERL_USDC | +0.0072% | 4h | 0.02837 | +0.066% | $14K | $2K | 10x | as long as short |
| Hyperliquid MERL | +0.0100% | 1h | 0.02837 | +0.070% | $469K | $156K | 3x | as long as short |
| Aster MERLUSDT | +0.0100% | 4h | 0.02837 | +0.060% | $4K | $5K | 5x | as long as short |
| Binance MERLUSDT | +0.0100% | 4h | 0.02837 | +0.078% | $1.9M | $2.5M | 50x | as long as short |
| Bybit MERLUSDT | +0.0100% | 8h | 0.02834 | −0.039% | $1.2M | $488K | 25x | as long as short |
| OKX MERL-USDT-SWAP | +0.0100% | 4h | 0.02836 | +0.031% | $1.3M | $2.4M | 20x | as long as short |
| Gate MERL_USDT | +0.0100% | 8h | 0.02840 | +0.172% | $256K | $70K | 25x | as long as short |
Deribit MERL_USDC-PERPETUAL
Coinbase International MERL-PERP-INTX
Orderly PERP_MERL_USDC
Hyperliquid MERL
Aster MERLUSDT
Binance MERLUSDT
Bybit MERLUSDT
OKX MERL-USDT-SWAP
Gate MERL_USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC MERL_USDT | +0.0100% | 4h | 0.02839 | +0.137% | $3.5M | $131K | 100x | as long as short |
| KuCoin MERLUSDTM | +0.0100% | 4h | 0.02837 | +0.066% | $892K | $46K | 30x | as long as short |
| Bitget MERLUSDT | +0.0100% | 4h | 0.02837 | +0.066% | $1.7M | $286K | 25x | as long as short |
| BingX MERL-USDT | +0.0100% | 4h | 0.02837 | +0.066% | — | $6.6M | — | as long as short |
| Variational Omni MERLlong | +0.0100% | 8h | 0.02835 | long leg | $9K | $414 | — | |
| SunX MERL-USDT | +0.0100% | 4h | 0.02840 | +0.172% | $2K | $1.2M | 20x | as long as short |
MEXC MERL_USDT
KuCoin MERLUSDTM
Bitget MERLUSDT
BingX MERL-USDT
SunX MERL-USDT