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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

ExchangeCurrent Funding (bps)Funding APY7-Day Avg Funding (bps)24h Volume
COINBASE INTL1.10 bps12.04% APY0.20 bps$24.30K
BINGX1.00 bps10.95% APY1.20 bps$6.56M
BINANCE1.00 bps10.95% APY1.00 bps$709.54K
OKX1.00 bps10.95% APY0.70 bps$625.16K
BYBIT1.00 bps10.95% APY0.60 bps$240.86K
BITGET1.00 bps10.95% APY1.00 bps$207.77K
HYPERLIQUID1.00 bps10.95% APY0.70 bps$158.13K
MEXC1.00 bps10.95% APY1.00 bps$129.30K
PHEMEX1.00 bps10.95% APY1.00 bps$52.74K
GATEIO1.00 bps10.95% APY0.30 bps$40.67K
KUCOIN1.00 bps10.95% APY-0.40 bps$27.78K
ASTER1.00 bps10.95% APY0.90 bps$1.36K
VARIATIONAL1.00 bps10.95% APY1.00 bps$99.99
WOOFIPRO0.00 bps0.00% APY-1.10 bps$68.15

Last updated 2026-07-16T05:51:25Z (UTC).

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