MerlinSwap (MP) Funding Rate History
MerlinSwap (MP) perpetual futures funding ranges from 0.50 bps on VEST to 10.00 bps on KUCOIN across 2 reporting venues, a spread of 9.50 bps. The most extreme rate (109.50% APY annualized) is on KUCOIN. 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 MP price.
MP Per-Exchange Funding Rates
| Exchange | Current Funding (bps) | Funding APY | 7-Day Avg Funding (bps) | 24h Volume |
|---|---|---|---|---|
| KUCOIN | 10.00 bps | 109.50% APY | 5.70 bps | $246.14K |
| VEST | 0.50 bps | 5.47% APY | 0.50 bps | $0 |
Last updated 2026-06-01T15:08:33.895828Z (UTC).
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Related: MP open interest, MP volume, MP perp market data.