Merlin Chain (MERL) arbitrage
MERL on 15 exchanges spot and 20 in futures: live routes, past spreads and how long they last.
Prices at · open routes a minute older; real time in the scanners on paid plans · How we count
- Price
- $0.026735
- 24h volume
- $18M
- Exchanges
- 25
- 15 spot · 20 futures
- Routes now
- 1
- 0 take · 1 risky
- Gaps in 7 days
- 2,347
- 554 over a minute
Merlin Chain (MERL) right now
MERL is cheapest on Bybit ($0.026725) and dearest on HTX ($0.0268): 0.28% apart across 10 exchanges with a liquid spot market, before fees.
1 route in profit after fees is worth a look ("take" or "risky"); the best: OKX → Hyperliquid, 0.03%.
Over 7 days a spread in profit opened 2,347 times, and 554 of them lasted a minute or longer; one usually closed within 5.9 s.
Funding per 8 hours runs from 0.0097% on WOOFi Pro to 0.0134% on Deepcoin, across 13 exchanges (outliers, markets under $50k a day and exchanges publishing no volume left out).
Merlin Chain (MERL) arbitrage opportunities now
Spot and futures, no transfer
| Long | Short | Spread | Size at best price | Verdict |
|---|---|---|---|---|
| OKX perp | Hyperliquid | 0.026% | $65 | Risky |
Merlin Chain (MERL) arbitrage strategy
No MERL route worth taking with an open transfer right now. Fresh routes are in the scanner.
Merlin Chain (MERL) price on every exchange
Refreshed every 10 seconds. The best buy and sell prices are highlighted.
Spot · 15
| Exchange | Bid | Ask | Book spread | 24h volume |
|---|---|---|---|---|
| HTXMERL/USDT | 0.026700 | 0.026900 | 0.75% | $209.2K |
| OKXMERL/USDT | 0.026710 | 0.026750 | 0.15% | $146K |
| BTSEMERL/USD | 0.026670 | 0.026740 | 0.26% | $126.7K |
| BybitMERL/USDT | 0.026700 | 0.026750 | 0.19% | $92.2K |
| MEXCMERL/USDT | 0.026700 | 0.026760 | 0.22% | $68.9K |
| LBankMERL/USDT | 0.026700 | 0.026770 | 0.26% | $68.5K |
| BingXMERL/USDT | 0.026680 | 0.026790 | 0.41% | $67.3K |
| BitgetMERL/USDT | 0.026730 | 0.026770 | 0.15% | $26.9K |
| GateMERL/USDT | 0.026720 | 0.026760 | 0.15% | $25.3K |
| DeepcoinMERL/USDT | 0.026690 | 0.026770 | 0.30% | $23.2K |
| DigiFinexMERL/USDT | 0.026700 | 0.026800 | 0.37% | $8,288 |
| KuCoinMERL/USDT | 0.026720 | 0.026760 | 0.15% | $5,052 |
Perpetual futures · 20
| Exchange | Bid | Ask | Book spread | Funding | 24h volume |
|---|---|---|---|---|---|
| BingXMERL/USDT | 0.026720 | 0.026730 | 0.04% | 0.0050%/4h | $6.6M |
| XTMERL/USDT | 0.026740 | 0.026760 | 0.07% | 0.0051%/4h | $3.6M |
| OKXMERL/USDT | 0.026700 | 0.026710 | 0.04% | 0.0050%/4h | $1.7M |
| WhiteBITMERL/USDT | 0.026530 | 0.026940 | 1.53% | 0.0050%/4h | $1.6M |
| Mode TradeMERL/USDC | 0.026670 | 0.026750 | 0.30% | 0.0048%/4h | $913.2K |
| WOOFi ProMERL/USDC | 0.026670 | 0.026750 | 0.30% | 0.0048%/4h | $913.2K |
| DeepcoinMERL/USDT | 0.026740 | 0.026760 | 0.07% | 0.0067%/4h | $417.7K |
| BybitMERL/USDT | 0.026710 | 0.026730 | 0.07% | 0.0100%/8h | $362.9K |
| BitgetMERL/USDT | 0.026700 | 0.026760 | 0.22% | 0.0050%/4h | $263.7K |
| ToobitMERL/USDT | 0.026740 | 0.026750 | 0.04% | 0.0050%/4h | $193.8K |
| HyperliquidMERL/USDC | 0.026726 | 0.026762 | 0.13% | 0.0013%/1h | $190.9K |
| MEXCMERL/USDT | 0.026740 | 0.026760 | 0.07% | 0.0050%/4h | $128.3K |
How often Merlin Chain (MERL) spreads open
Exchange pairs between which the price drifted apart with a profit after fees over 7 days. “Over a minute” counts the gaps that held for a minute or longer: those can be caught. The rest are flashes of seconds that close before an order arrives.
| Market | Route | Over a minute | Gaps | Median lifetime |
|---|---|---|---|---|
| perp ↔ perp | MEXC perp → Hyperliquid perp | 68 | 105 | 1 min 59 s |
| perp ↔ perp | OKX perp → MEXC perp | 63 | 88 | 3 min 18 s |
| perp ↔ perp | Gate perp → MEXC perp | 55 | 78 | 3 min 02 s |
| perp ↔ perp | Bybit perp → MEXC perp | 33 | 83 | 6.0 s |
| perp ↔ perp | OKX perp → Hyperliquid perp | 31 | 49 | 2 min 35 s |
| perp ↔ perp | BingX perp → Hyperliquid perp | 27 | 52 | 1 min 03 s |
| perp ↔ perp | Bybit perp → Hyperliquid perp | 14 | 31 | 48 s |
| perp ↔ perp | Toobit perp → Hyperliquid perp | 13 | 47 | 18 s |
| perp ↔ perp | WEEX perp → Hyperliquid perp | 13 | 42 | 18 s |
| perp ↔ perp | BingX perp → MEXC perp | 13 | 42 | 6.0 s |
| perp ↔ perp | OKX perp → Toobit perp | 12 | 28 | 24 s |
| perp ↔ perp | Binance perp → Hyperliquid perp | 9 | 30 | 18 s |
| perp ↔ perp | OKX perp → Binance perp | 9 | 19 | 36 s |
| perp ↔ perp | Bitget perp → Hyperliquid perp | 7 | 34 | 9.0 s |
| perp ↔ perp | MEXC perp → KuCoin perp | 6 | 12 | 1 min 39 s |
| perp ↔ perp | OKX perp → XT perp | 6 | 11 | 1 min 39 s |
| perp ↔ perp | WEEX perp → MEXC perp | 5 | 33 | 3.0 s |
| perp ↔ perp | Gate perp → Hyperliquid perp | 5 | 6 | 4 min 59 s |
| perp ↔ perp | Toobit perp → MEXC perp | 4 | 36 | 3.0 s |
| perp ↔ perp | MEXC perp → Binance perp | 4 | 25 | 6.0 s |
Networks, deposits and withdrawals
Whether the coin can be moved between exchanges: withdrawals open where you buy and deposits open where you sell. Refreshed every 5 minutes.
| Network | Exchange | Deposit | Withdraw | Withdrawal fee |
|---|---|---|---|---|
| BTCMERLIN | Poloniex | open | open | 8 MERL |
| MERL | Bitvavo | open | open | 13 MERL |
| DigiFinex | closed | closed | 2 MERL | |
| MERLBTC | Gate | open | open | — |
| Phemex | n/a | n/a | — | |
| MERLIN | Bitget | open | n/a | 130.1 MERL |
| BTSE | open | open | 2 MERL | |
| Bybit | open | open | 5 MERL | |
| HitBTC | open | open | 372.2 MERL | |
| HTXmerl | open | open | 2.5 MERL | |
| KuCoinmerlin | open | open | 15 MERL | |
| MEXC | open | open | 3 MERL | |
| XT | closed | closed | 27.8 MERL | |
| MERLINCHAIN | LBankmerlinchain | n/a | open | 2 MERL |
| MERLINNETWORK | OKXMERL-MERLIN Network | open | open | 3.9 MERL |
Gaps of a minute or longer, last 7 days
| When (UTC) | Market | Route | Spread | Lasted | Transfer |
|---|---|---|---|---|---|
| Oct 25, 01:00 AM | perp ↔ perp | Bybit → MEXC | 0.138% | 2 min 03 s | — |
| Oct 25, 12:19 AM | perp ↔ perp | Gate → Hyperliquid | 0.193% | 1 min 27 s | — |
| Oct 25, 12:11 AM | perp ↔ perp | Bybit → MEXC | 0.212% | 11 min 18 s | — |
| Oct 24, 11:15 PM | perp ↔ perp | Bybit → MEXC | 0.138% | 3 min 09 s | — |
| Oct 24, 11:09 PM | perp ↔ perp | Bybit → MEXC | 0.102% | 3 min 45 s | — |
| Oct 24, 11:01 PM | perp ↔ perp | OKX → MEXC | 0.269% | 53 min 48 s | — |
| Oct 24, 10:08 PM | perp ↔ perp | OKX → MEXC | 0.121% | 2 min 00 s | — |
| Oct 24, 10:08 PM | perp ↔ perp | Bybit → MEXC | 0.101% | 2 min 03 s | — |
| Oct 24, 09:57 PM | perp ↔ perp | Gate → MEXC | 0.157% | 9 min 03 s | — |
| Oct 24, 09:50 PM | perp ↔ perp | Gate → MEXC | 0.344% | 4 min 45 s | — |
| Oct 24, 09:49 PM | perp ↔ perp | OKX → MEXC | 0.121% | 2 min 12 s | — |
| Oct 24, 09:49 PM | perp ↔ perp | XT → MEXC | 0.101% | 1 min 45 s | — |
| Oct 24, 09:38 PM | perp ↔ perp | Gate → MEXC | 0.196% | 6 min 30 s | — |
| Oct 24, 09:01 PM | perp ↔ perp | OKX → MEXC | 0.232% | 18 min 03 s | — |
| Oct 24, 09:01 PM | perp ↔ perp | Gate → MEXC | 0.120% | 1 min 15 s | — |
| Oct 24, 08:44 PM | perp ↔ perp | Gate → MEXC | 0.120% | 6 min 21 s | — |
| Oct 24, 08:31 PM | perp ↔ perp | Gate → MEXC | 0.234% | 8 min 03 s | — |
| Oct 24, 08:31 PM | perp ↔ perp | OKX → Toobit | 0.137% | 2 min 51 s | — |
| Oct 24, 08:30 PM | perp ↔ perp | Bybit → MEXC | 0.139% | 1 min 48 s | — |
| Oct 24, 08:30 PM | perp ↔ perp | OKX → Hyperliquid | 0.120% | 2 min 18 s | — |
| Oct 24, 08:29 PM | perp ↔ perp | OKX → MEXC | 0.158% | 17 min 27 s | — |
| Oct 24, 08:25 PM | perp ↔ perp | Hyperliquid → MEXC | 0.147% | 1 min 33 s | — |
| Oct 24, 08:24 PM | perp ↔ perp | OKX → MEXC | 0.121% | 2 min 30 s | — |
| Oct 24, 08:24 PM | perp ↔ perp | Gate → MEXC | 0.234% | 1 min 54 s | — |
| Oct 24, 08:08 PM | perp ↔ perp | OKX → MEXC | 0.122% | 13 min 45 s | — |
| Oct 24, 08:01 PM | perp ↔ perp | Gate → Toobit | 0.100% | 3 min 57 s | — |
| Oct 24, 08:00 PM | perp ↔ perp | Gate → MEXC | 0.160% | 5 min 45 s | — |
| Oct 24, 07:26 PM | perp ↔ perp | OKX → Toobit | 0.102% | 1 min 33 s | — |
| Oct 24, 07:25 PM | perp ↔ perp | OKX → MEXC | 0.160% | 41 min 21 s | — |
| Oct 24, 07:06 PM | perp ↔ perp | BingX → MEXC | 0.123% | 1 min 42 s | — |
| Oct 24, 07:06 PM | perp ↔ perp | Bybit → MEXC | 0.178% | 1 min 42 s | — |
| Oct 24, 07:06 PM | perp ↔ perp | OKX → XT | 0.118% | 1 min 39 s | — |
| Oct 24, 06:56 PM | perp ↔ perp | OKX → Toobit | 0.102% | 5 min 35 s | — |
| Oct 24, 06:45 PM | perp ↔ perp | Gate → MEXC | 0.165% | 1 min 15 s | — |
| Oct 24, 06:45 PM | perp ↔ perp | XT → Binance | 0.122% | 1 min 09 s | — |
| Oct 24, 06:42 PM | perp ↔ perp | OKX → Binance | 0.182% | 3 min 33 s | — |
| Oct 24, 06:20 PM | perp ↔ perp | Bybit → MEXC | 0.108% | 3 min 36 s | — |
| Oct 24, 06:19 PM | perp ↔ perp | OKX → Binance | 0.105% | 3 min 27 s | — |
| Oct 24, 06:14 PM | perp ↔ perp | BingX → MEXC | 0.126% | 1 min 54 s | — |
| Oct 24, 06:12 PM | perp ↔ perp | KuCoin → MEXC | 0.106% | 1 min 21 s | — |
| Oct 24, 06:12 PM | perp ↔ perp | Bybit → MEXC | 0.144% | 4 min 54 s | — |
| Oct 24, 06:08 PM | perp ↔ perp | Gate → MEXC | 0.126% | 8 min 42 s | — |
| Oct 24, 05:25 PM | perp ↔ perp | Bybit → MEXC | 0.105% | 4 min 54 s | — |
| Oct 24, 05:15 PM | perp ↔ perp | Gate → Binance | 0.141% | 2 min 00 s | — |
| Oct 24, 05:07 PM | perp ↔ perp | OKX → Hyperliquid | 0.128% | 45 min 26 s | — |
| Oct 24, 05:03 PM | perp ↔ perp | Gate → Binance | 0.219% | 2 min 15 s | — |
| Oct 24, 05:02 PM | perp ↔ perp | Bybit → Toobit | 0.123% | 3 min 06 s | — |
| Oct 24, 04:58 PM | perp ↔ perp | OKX → Toobit | 0.181% | 8 min 21 s | — |
| Oct 24, 04:58 PM | perp ↔ perp | OKX → XT | 0.123% | 8 min 21 s | — |
| Oct 24, 04:58 PM | perp ↔ perp | OKX → Binance | 0.143% | 7 min 00 s | — |
Spread at the peak after taker fees. Lifetime is measured to about 3 s.
More on Merlin Chain (MERL)
MERL funding rates by exchange →
MERL trades on: BingX, XT, OKX, Mode Trade, WhiteBIT, Bybit, Deepcoin, Bitget, HTX, MEXC, Toobit, Hyperliquid and 13 more
FAQ
- Why is the Merlin Chain (MERL) spread so high on some exchanges?
1 route in profit after fees is worth a look ("take" or "risky"); the engine's commonest warnings: even when the prices meet, closing crosses each leg's bid-ask spread, and that eats the profit; profit under $1. We have no network status from BingX, Deepcoin and WEEX +1, so a transfer there cannot be checked.
- Where is Merlin Chain (MERL) cheapest to buy?
Cheapest now on Bybit: $0.026725; dearest on HTX: $0.0268, 0.28% apart. 10 exchanges with a liquid MERL market compared, at the mid between bid and ask.
- Can I transfer Merlin Chain (MERL) between Bybit and HTX?
Yes: withdrawals from Bybit and deposits to HTX are open now on MERLIN, a withdrawal fee of 5 MERL. The networks' status is checked every 5 minutes; every network is in the table below.
- Is there an arbitrage opportunity in Merlin Chain (MERL) right now?
Yes, in futures (no transfer: a long and a short): 1 route is worth a look ("take" or "risky"), the first OKX → Hyperliquid, 0.03%, marked "risky".
Not on spot after fees: no spot route earns right now. The widest price gap is 0.28% (Bybit → HTX), and trading fees and the withdrawal eat it.
- What is the Merlin Chain (MERL) spread now?
0.28% between the cheapest (Bybit) and the dearest (HTX) exchange, before fees. No route worth taking with an open transfer right now.