MERL funding rates by exchange
The current funding rate for every MERL perpetual we track, venue by venue, with 7-day and 30-day accumulated funding and the annualised rate. A positive rate means longs pay shorts.
- Exchanges
- 14
- Venue spread
- 0.042%
- Pays most
- Bybit
- 24h volume
- $19.1M
Right now Bybit pays +0.0434% per settlement and Hyperliquid pays +0.0013% — that gap is what a funding-arbitrage position captures.
Every venue listing MERL is showing a positive rate right now, so longs are paying shorts across the board — the difference is only in how much.
Over the last 30 days the most MERL funding accumulated on BingX, at +2.07% — worth checking against the current rate, because the leader on accumulated funding is often not the leader today.
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| Exchange | Contract | Current rate | APR | 7d sum | 30d sum | 24h volume |
|---|---|---|---|---|---|---|
 Bybit |
MERL-USDT | +0.0434% | +43.7% | +0.49% | +1.54% | $1.3M |
 BingX |
MERL-USDT | +0.0187% | +37.3% | +0.69% | +2.07% | $6.8M |
 Gate.io |
MERL-USDT | +0.01% | +7.3% | +0.22% | +0.81% | $121K |
 BloFin |
MERL-USDT | +0.0057% | +8.5% | +0.20% | +0.88% | $20K |
 Toobit |
MERL-USDT | +0.0051% | +7.2% | +0.21% | +0.90% | $747K |
 OKX |
MERL-USDT | +0.005% | +7.3% | +0.21% | +0.74% | $5M |
 Phemex |
MERL-USDT | +0.005% | +1.6% | +0.12% | +0.81% | $0K |
 MEXC |
MERL-USDT | +0.005% | +8.0% | +0.21% | +0.90% | $613K |
 KuCoin |
MERL-USDT | +0.005% | +7.1% | +0.23% | +0.63% | $69K |
 Bitget |
MERL-USDT | +0.005% | +7.1% | +0.40% | +1.08% | $340K |
 WEEX |
MERL-USDT | +0.005% | +7.1% | +0.21% | +0.90% | $0K |
 Binance |
MERL-USDT | +0.005% | +7.3% | +0.21% | +0.90% | $3.4M |
 Aster |
MERL-USDT | +0.0013% | +7.3% | +0.23% | +0.90% | $76K |
 Hyperliquid |
MERL-USDT | +0.0013% | +7.7% | +0.21% | +0.39% | $555K |
Rates come straight from exchange data and change at every settlement; APR annualises the current rate at the contract's own funding interval. Market data, not investment advice.
Other coins
Funding rates by coin →
SENT
LINEA
SPX
USELESS
AR
0G
FF
BABY
AVNT
CHZ
SHELL
SOONFrequently asked questions
What is the MERL funding rate right now?
MERL funding currently ranges from +0.0434% on Bybit down to +0.0013% on Hyperliquid per settlement — the table above lists every venue. A positive rate means long positions pay short positions at the next settlement; a negative rate means the reverse.
Which exchange pays the highest MERL funding?
At the moment Bybit shows the highest MERL funding rate. This changes at every settlement, so trust the live ranking above rather than any fixed answer.
How do you trade the MERL funding difference?
You hold offsetting positions on two venues — long where funding is negative, short where it is positive — so price exposure cancels out and you collect the difference at each settlement. On MERL that difference is currently 0.042% per settlement, before the trading fees on both legs.
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