MERL funding rates and arbitrage
Updated 2026-11-11 23:11 UTC
Best MERL arbitrage after every cost
No MERL pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
MERL funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Bybit | MERLUSDT | 0.0100% | 8 h | +10.9% | −0.8% | $799.2K | 2026-11-12 00:00 |
| KuCoin | MERLUSDTM | 0.0050% | 4 h | +10.9% | +10.7% | $398.1K | 2026-11-12 00:00 |
| MEXC | MERL_USDT | 0.0050% | 4 h | +10.9% | +10.8% | $362.1K | 2026-11-12 00:00 |
| WhiteBIT | MERL_PERP | 0.0050% | 4 h | +10.9% | +11.0% | $704.2K | 2026-11-12 00:00 |
| Bitget | MERLUSDT | 0.0050% | 4 h | +10.9% | +6.3% | $1.7M | 2026-11-12 00:00 |
| LBank | MERLUSDT | 0.0050% | 4 h | +10.9% | +11.7% | — | 2026-11-12 00:00 |
| WOO X | PERP_MERL_USDT | 0.0050% | 4 h | +10.9% | +10.8% | $1 | 2026-11-12 00:00 |
| Bitunix | MERLUSDT | 0.0050% | 4 h | +10.9% | +10.7% | — | 2026-11-12 00:00 |
| BingX | MERL-USDT | 0.0050% | 4 h | +10.9% | +12.4% | $345.4K | 2026-11-12 00:00 |
| Binance | MERLUSDT | 0.0050% | 4 h | +10.9% | +10.8% | $2.3M | 2026-11-12 00:00 |
| Aster | MERLUSDT | 0.0050% | 4 h | +10.9% | +6.0% | $7.6K | 2026-11-12 00:00 |
| Gate | MERL_USDT | 0.0100% | 8 h | +10.9% | +11.0% | $118.6K | 2026-11-12 00:00 |
| Hyperliquid | MERL | 0.0013% | 1 h | +10.9% | −1.7% | $695.3K | 2026-11-12 00:00 |
| Variational | MERL-PERP | 0.0100% | 8 h | +10.9% | +12.1% | $7.6K | 2026-11-12 00:00 |
| BloFin | MERL-USDT | 0.0034% | 4 h | +7.6% | +10.4% | $142.2K | 2026-11-12 00:00 |
| OKX | MERL-USDT-SWAP | -0.0009% | 4 h | −2.0% | +0.4% | $1.5M | 2026-11-12 00:00 |
Borrow MERL to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 2.00% | — |
| Gate | 4.96% | $30K |
| Bybit | 9.62% | — |
| OKX | 12.67% | — |
Cost to enter $10,000 of MERL
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| MEXC | MERL_USDT | 3.8 bp | top of book only |
| BingX | MERL-USDT | 6.8 bp | top of book only |
| Binance | MERLUSDT | 8.6 bp | top of book only |
| OKX | MERL-USDT-SWAP | 8.6 bp | top of book only |
| BloFin | MERL-USDT | 9.6 bp | top of book only |
| Variational | MERL-PERP | 10.8 bp | top of book only |
| Bybit | MERLUSDT | 10.9 bp | top of book only |
| Bitget | MERLUSDT | 13.2 bp | top of book only |
| Bitget | MERLUSDT (spot) | 17.1 bp | top of book only |
| OKX | MERL-USDT (spot) | 17.2 bp | top of book only |
| Bybit | MERLUSDT (spot) | 18.9 bp | top of book only |
| Gate | MERL_USDT | 20.0 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees.
More on MERL
Questions
Is MERL funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no MERL pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest MERL funding rate?
Bybit at +10.9% a year (0.0100% every 8 h); the lowest is OKX at −2.0%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.