MERL Funding Rates
| MERL | Deepcoin | +0.0067% | 4h | +14.7% | +0.007%* | +0.007%* | n/a |
| MERL | XT | +0.0051% | 4h | +11.2% | n/a | n/a | n/a |
| MERL | Binance | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | OKX | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | BybitMERLPERP | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | BybitMERLUSDT | +0.0100% | 8h | +10.9% | n/a | n/a | n/a |
| MERL | Gate | +0.0100% | 8h | +10.9% | n/a | n/a | n/a |
| MERL | Bitget | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | Hyperliquid | +0.0013% | 1h | +10.9% | n/a | n/a | n/a |
| MERL | MEXC | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | KuCoin | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | BingX | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | WhiteBIT | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | LBank | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | Toobit | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | Aster | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | WEEX | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | Bitunix | +0.0050% | 4h | +10.9% | +0.005%* | +0.005%* | n/a |
| MERL | Zoomex | +0.0100% | 8h | +10.9% | n/a | n/a | n/a |
| MERL | BloFin | +0.0044% | 4h | +9.5% | +0.008%* | +0.008%* | n/a |
| MERL | Deribit | -0.0247% | 8h | -27.0% | n/a | n/a | n/a |
Paid is what a short collected per dollar over the last 7 or 30 days, from the settlements we kept. * marks a stretch with settlements missing, which is never filled in.
MERL funding paid, last 30 days
Each settlement as we read its rate just before it paid. A venue that names no settlement time, or a stretch we missed, has no line, never a guess.
- WhiteBIT+0.005% paid, 1x
- OKX+0.005% paid, 1x
- Binance+0.005% paid, 1x
APR of each settlement. Paid is what a short collected per dollar, summed.
MERL regional premiums
Where it trades for a local currency, how far that price sits from the USDT price.
| Venue | Price (KRW) | KRW per USDT | Premium | Route |
|---|---|---|---|---|
| Bithumb KRW-MERL | 38.62 | 1,345.5 | -78.5 bps | Verified |
- KRW-70.5 bps
5-minute means over the USDT price, in bps. A break is a stretch with no fresh book.
Each local price is converted at that exchange's own USDT book, the rate its money really converts at, and compared with the middle USDT price on order book exchanges. Verified means a route that passes every check trades that market the way the premium pays. A premium is not a promise of profit.
Where MERL trades
24-hour volume and open interest, as each venue publishes them. A venue that publishes none shows n/a.
| Venue | Type | 24h volume | Open interest |
|---|---|---|---|
| XTmerl_usdt | Perp | $5.4M | n/a |
| WhiteBITMERL_PERP | Perp | $4.7M | n/a |
| OKXMERL-USDT-SWAP | Perp | $4.6M | $1.4M |
| BinanceMERLUSDT | Perp | $2.9M | n/a |
| DeepcoinMERLUSDT | Perp | $1.7M | n/a |
| OKXMERL-USDT | Spot | $1.3M | |
| LBankMERLUSDT | Perp | $983k | n/a |
| BingXMERL-USDT | Perp | $884k | n/a |
| ZoomexMERLUSDT | Perp | $683k | n/a |
| BybitMERLUSDT | Perp | $683k | $805k |
| HTXmerlusdt | Spot | $511k | |
| DeribitMERL_USDC-PERPETUAL | Perp | $404k | n/a |
Recent MERL gaps
From the free feed and the Proof Log, at least 15 minutes old. Paid plans and the trial see them live.
No MERL gap in the free feed or the latest Proof Log rows right now.
Across 18 venues over 1 of the last 14 days. Last closed Nov 4, 22:49 UTC. See the Proof Log.
See MERL routes as they open
Net after fees, depth and transfer checks, on every venue we read. No card required.