Merlin Chain (MERL) Funding Rate History
Merlin Chain (MERL) perpetual futures funding ranges from 0.00 bps on WOOFIPRO to 1.10 bps on COINBASE INTL across 14 reporting venues, a spread of 1.10 bps. The most extreme rate (12.04% APY annualized) is on COINBASE INTL. Currently all venues currently report positive funding (longs paying shorts).
A non-zero funding rate spread between venues is the basis for delta-neutral funding arbitrage: long the cheaper-funding exchange and short the more expensive one to capture the spread without picking a side on MERL price.
MERL Per-Exchange Funding Rates
| Exchange | Current Funding (bps) | Funding APY | 7-Day Avg Funding (bps) | 24h Volume |
|---|---|---|---|---|
| COINBASE INTL | 1.10 bps | 12.04% APY | 0.20 bps | $24.30K |
| BINGX | 1.00 bps | 10.95% APY | 1.20 bps | $6.56M |
| BINANCE | 1.00 bps | 10.95% APY | 1.00 bps | $709.54K |
| OKX | 1.00 bps | 10.95% APY | 0.70 bps | $625.16K |
| BYBIT | 1.00 bps | 10.95% APY | 0.60 bps | $240.86K |
| BITGET | 1.00 bps | 10.95% APY | 1.00 bps | $207.77K |
| HYPERLIQUID | 1.00 bps | 10.95% APY | 0.70 bps | $158.13K |
| MEXC | 1.00 bps | 10.95% APY | 1.00 bps | $129.30K |
| PHEMEX | 1.00 bps | 10.95% APY | 1.00 bps | $52.74K |
| GATEIO | 1.00 bps | 10.95% APY | 0.30 bps | $40.67K |
| KUCOIN | 1.00 bps | 10.95% APY | -0.40 bps | $27.78K |
| ASTER | 1.00 bps | 10.95% APY | 0.90 bps | $1.36K |
| VARIATIONAL | 1.00 bps | 10.95% APY | 1.00 bps | $99.99 |
| WOOFIPRO | 0.00 bps | 0.00% APY | -1.10 bps | $68.15 |
Last updated 2026-07-16T05:51:25Z (UTC).
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Related: MERL open interest, MERL volume, MERL perp market data.