Merlin Chain (MERL) Funding Rate
Merlin Chain (MERL) perpetual funding on 16 exchanges: the current rate, annualized, what was actually paid and the payment history. Positive means longs pay shorts.
Updated · How we count
Merlin Chain (MERL) funding rate on every exchange
| Exchange | Rate per 8 h | Per period | Predicted | By premium | Annual | 1 day · 7 days · 30 days | Next payment | 24h volume | ||
|---|---|---|---|---|---|---|---|---|---|---|
 Bybit8 hbest long | +0.0071% | +0.0071% | — | +0.0100% | 7.7% | +0.0300% | +0.204% | +0.585% | $362.3K | |
 Mode Trade4 h | +0.0098% | +0.0049% | — | — | 10.8% | +0.0268% | −0.0755% | +0.0955% | $913.2K | |
 WOOFi Pro4 h | +0.0098% | +0.0049% | — | — | 10.8% | +0.0268% | −0.0753% | +0.0957% | $913.2K | |
 Hyperliquid1 h | +0.0100% | +0.0013% | — | +0.0013% | 11.0% | +0.0300% | +0.207% | +0.903% | $188.6K | |
 WEEX4 h | +0.0100% | +0.0050% | — | +0.0157% | 11.0% | +0.0300% | +0.176% | +0.740% | $107.4K | |
 WhiteBIT4 h | +0.0100% | +0.0050% | — | +0.0050% | 11.0% | +0.0300% | +0.210% | +0.900% | $1.7M | |
 LBank4 h | +0.0100% | +0.0050% | — | +0.0676% | 11.0% | +0.0300% | +0.177% | +0.421% | — | |
 MEXC4 h | +0.0100% | +0.0050% | — | +0.0491% | 11.0% | +0.0300% | +0.177% | +0.739% | $138.5K | |
 Binance4 h | +0.0100% | +0.0050% | — | +0.0050% | 11.0% | +0.0300% | +0.177% | +0.742% | — | |
 OKX4 h | +0.0100% | +0.0050% | — | — | 11.0% | +0.0172% | +0.197% | +0.827% | $1.8M | |
 Bitget4 h | +0.0100% | +0.0050% | — | +0.0050% | 11.0% | +0.0300% | +0.210% | +1.084% | $265.5K | |
 Toobit4 h | +0.0100% | +0.0050% | — | +0.0050% | 11.0% | +0.0300% | +0.177% | +0.741% | $194.7K | |
 BingX4 h | +0.0100% | +0.0050% | — | +0.0050% | 11.0% | +0.0400% | +0.251% | +1.200% | $6.5M | |
 WOO X4 h | +0.0100% | +0.0050% | — | +0.0050% | 11.0% | +0.0300% | +0.176% | +0.745% | — | |
 Gate8 h | +0.0100% | +0.0100% | — | +0.0611% | 11.0% | +0.0300% | +0.210% | +0.896% | $74.1K | |
 XT4 h | +0.0103% | +0.0051% | — | +0.0355% | 11.3% | +0.0337% | +0.195% | +0.820% | $3.6M | |
 Deepcoin4 hbest short | +0.0114% | +0.0057% | — | — | 12.5% | +0.0356% | +0.274% | +0.724% | $365.2K | |
What Merlin Chain (MERL) funding actually paid
Over 7 days, a Merlin Chain (MERL) long paid +0.169% on average across exchanges (8.8% a year). The most on Deepcoin (+0.274%), the least on Mode Trade (−0.0755%).
Over 30 days, a Merlin Chain (MERL) long paid +0.721% on average across exchanges (8.9% a year). The most on BingX (+1.200%), the least on Mode Trade (+0.0955%).
Merlin Chain (MERL) funding rate history chart
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Merlin Chain (MERL) funding arbitrage right now
Among the exchanges that publish a 24h volume, the lowest rate now is on Bybit (+0.0071% per 8 h), the highest on Deepcoin (+0.0114%). Long on Bybit and short on Deepcoin, price hedged: a difference of 4.8% a year before fees and before the rates move.
Rates only. The price spread between the two perps, fees to enter and exit, book depth and whether the rate holds are in the futures screener →
Merlin Chain (MERL) perpetual futures by exchange
BingXMERL/USDT:USDT$0.027025$6.5MXTMERL/USDT:USDT$0.027060$3.6MOKXMERL/USDT:USDT$0.026990$1.8MWhiteBITMERL/USDT:USDT$0.027045$1.7MMode TradeMERL/USDC:USDC$0.027025$913.2KWOOFi ProMERL/USDC:USDC$0.027025$913.2KDeepcoinMERL/USDT:USDT$0.027040$365.2KBybitMERL/USDT:USDT$0.027010$362.3KBitgetMERL/USDT:USDT$0.027030$265.5KToobitMERL/USDT:USDT$0.027055$194.7KHyperliquidMERL/USDC:USDC$0.027033$188.6KMEXCMERL/USDT:USDT$0.027060$138.5KWEEXMERL/USDT:USDT$0.027025$107.4KGateMERL/USDT:USDT$0.027055$74.1KLBankMERL/USDT:USDT—BinanceMERL/USDT:USDT$0.027060—WOO XMERL/USDT:USDT$0.027045—FAQ
- What is the Merlin Chain (MERL) funding rate?
A periodic payment between long and short holders of Merlin Chain (MERL) perpetual futures that keeps the contract price near spot. When the rate is positive, longs pay shorts; when negative, shorts pay longs. Right now it ranges from 0.0071% to 0.0114% per 8 hours across 16 exchanges.
- How often is Merlin Chain (MERL) funding paid?
Every 8 hours on most exchanges, every 1–4 hours on some (Hyperliquid pays hourly). The table shows each exchange's interval and the time to the next payment.
- Why is the Merlin Chain (MERL) funding rate different on each exchange?
Each exchange computes it from its own premium of perpetual over index price and its own interval and caps. The difference is what funding arbitrage earns: short where funding is highest, long where it is lowest.
- Does a high APR mean high profit?
No. APR extrapolates the current rate over a year, and rates change every period. Compare it with what was actually paid over 7 and 30 days in the table above.