Merlin Chain (MERL) Funding Rate History
Merlin Chain (MERL) perpetual futures funding ranges from 0.00 bps on WOOFIPRO to 11.70 bps on COINBASE INTL across 14 reporting venues, a spread of 11.70 bps. The most extreme rate (128.11% 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 | 11.70 bps | 128.11% APY | 0.40 bps | $48.14K |
| BINGX | 1.00 bps | 10.95% APY | 1.20 bps | $6.57M |
| BINANCE | 1.00 bps | 10.95% APY | 1.00 bps | $792.10K |
| OKX | 1.00 bps | 10.95% APY | 0.70 bps | $695.00K |
| BYBIT | 1.00 bps | 10.95% APY | 0.60 bps | $259.56K |
| BITGET | 1.00 bps | 10.95% APY | 1.00 bps | $224.60K |
| HYPERLIQUID | 1.00 bps | 10.95% APY | 0.70 bps | $170.10K |
| MEXC | 1.00 bps | 10.95% APY | 1.00 bps | $127.56K |
| PHEMEX | 1.00 bps | 10.95% APY | 1.00 bps | $59.33K |
| GATEIO | 1.00 bps | 10.95% APY | 0.30 bps | $40.94K |
| KUCOIN | 1.00 bps | 10.95% APY | -0.50 bps | $32.83K |
| ASTER | 1.00 bps | 10.95% APY | 0.90 bps | $1.01K |
| 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 2026-07-16T08:24:35Z (UTC).
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Related: MERL open interest, MERL volume, MERL perp market data.