MERL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0041%/8h= +4.5% APRnext payment +$0.21 per $10,000 · paid last 24h +0.002%

Price spread now: Bitget against BloFin+0.216%75s7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1471.474% of the position

Long on BloFin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.325%−$32 · spread now +0.216%, 7d avg +0.088%

Together, before fees−0.304%−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bitget is 0.127% dearer against BloFin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.088%. The two prices were read 75 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	BloFin MERL-USDT	0.02783	0.0059	pay 0.0029% / 4h	3h 26m	$120K	$3K	50x
Short	Bitget MERLUSDT	0.02789	0.0100	get 0.0050% / 4h	3h 26m	$1.6M	$234K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BloFin. 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 BloFinbpFee BitgetbpOrdersPrice spread, now +0.216%Rate

Funding earned: $8.64
Price spread: +0.216% → +0.088%: $12.72
Slippage, 4 orders: −$123.37
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$126.01
Costs to cover: 1.474%
Break-even: 109.1 days

Slippage from BloFin: live order book, 63 min ago; Bitget: live order book, 1 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 BloFin live order book, 63 min ago	7.26 bp	25.7 bp −$26	102.9 bp −$1,029	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	8.97 bp	48.6 bp −$49	291.4 bp −$2,914	doesn't fit	doesn't fit

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	−0.0360%	1h	0.02782	−0.040%	$38K	$585K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	0.0000%	1h	0.02785	+0.068%	$51K	$56K	10x	as long as short
BloFin MERL-USDTlong	+0.0059%	4h	0.02783	long leg	$120K	$3K	50x
Orderly PERP_MERL_USDC	+0.0098%	4h	0.02786	+0.108%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02786	+0.119%	$437K	$138K	3x	as long as short
Aster MERLUSDT	+0.0100%	4h	0.02786	+0.125%	$3K	$263	5x	as long as short
Binance MERLUSDT	+0.0100%	4h	0.02786	+0.125%	$1.9M	$2.0M	50x	as long as short
Bybit MERLUSDT	+0.0100%	8h	0.02780	−0.108%	$1.2M	$422K	25x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02780	−0.108%	$1.3M	$2.4M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02788	+0.180%	$253K	$55K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MERL_USDT	+0.0100%	4h	0.02787	+0.144%	$14.6M	$121K	100x	as long as short
KuCoin MERLUSDTM	+0.0100%	4h	0.02789	+0.216%	$896K	$40K	30x	as long as short
Bitget MERLUSDTshort	+0.0100%	4h	0.02789	+0.216%	$1.6M	$234K	25x
BingX MERL-USDT	+0.0100%	4h	0.02786	+0.108%	—	$6.6M	—	as long as short
Variational Omni MERL	+0.0100%	8h	0.02777	−0.198%	$9K	$168	—	as long as short
SunX MERL-USDT	+0.0100%	4h	0.02783	0.000%	$1K	$1.0M	20x	as long as short