Merlin Chain (MERL) Funding Rate History
Merlin Chain (MERL) perpetual futures funding ranges from -12.80 bps on KUCOIN to 1.00 bps on BINGX across 13 reporting venues, a spread of 13.80 bps. The most extreme rate (-140.16% APY annualized) is on KUCOIN. Currently funding signs are mixed: 8 positive, 5 negative.
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 |
|---|---|---|---|---|
| KUCOIN | -12.80 bps | -140.16% APY | -1.30 bps | $120.15K |
| PHEMEX | -4.20 bps | -45.99% APY | -0.80 bps | $158.52K |
| OKX | -4.00 bps | -43.80% APY | 0.60 bps | $3.39M |
| WOOFIPRO | -2.10 bps | -23.00% APY | -2.00 bps | $931.62 |
| BINGX | 1.00 bps | 10.95% APY | 0.90 bps | $6.57M |
| BINANCE | 1.00 bps | 10.95% APY | 0.60 bps | $2.93M |
| BYBIT | 1.00 bps | 10.95% APY | 1.00 bps | $973.99K |
| MEXC | 1.00 bps | 10.95% APY | 0.60 bps | $490.45K |
| BITGET | 1.00 bps | 10.95% APY | 0.50 bps | $476.11K |
| GATEIO | 1.00 bps | 10.95% APY | -1.50 bps | $233.81K |
| VARIATIONAL | 1.00 bps | 10.95% APY | 1.00 bps | $872.53 |
| ASTER | 1.00 bps | 10.95% APY | 1.00 bps | $393.45 |
| HYPERLIQUID | -0.10 bps | -1.09% APY | 0.00 bps | $120.52K |
Last updated 2026-05-31T19:48:22.889609Z (UTC).
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Related: MERL open interest, MERL volume, MERL perp market data.