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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

ExchangeCurrent Funding (bps)Funding APY7-Day Avg Funding (bps)24h Volume
COINBASE INTL11.70 bps128.11% APY0.40 bps$48.14K
BINGX1.00 bps10.95% APY1.20 bps$6.57M
BINANCE1.00 bps10.95% APY1.00 bps$792.10K
OKX1.00 bps10.95% APY0.70 bps$695.00K
BYBIT1.00 bps10.95% APY0.60 bps$259.56K
BITGET1.00 bps10.95% APY1.00 bps$224.60K
HYPERLIQUID1.00 bps10.95% APY0.70 bps$170.10K
MEXC1.00 bps10.95% APY1.00 bps$127.56K
PHEMEX1.00 bps10.95% APY1.00 bps$59.33K
GATEIO1.00 bps10.95% APY0.30 bps$40.94K
KUCOIN1.00 bps10.95% APY-0.50 bps$32.83K
ASTER1.00 bps10.95% APY0.90 bps$1.01K
VARIATIONAL1.00 bps10.95% APY1.00 bps$99.99
WOOFIPRO0.00 bps0.00% APY-1.10 bps$68.15

Last updated 2026-07-16T08:24:35Z (UTC).

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