MERL perpetuals
Compare funding costs for one asset across venues.
Data as of 2026-09-09 15:47 UTC
MERL is quoted on 8 contracts. The highest funding rate is on Bybit at +25.11% annualised over a 4h rate period, and the lowest is on OKX at +6.91% — a gap of 18.20 points. Rate periods differ by venue, so rates are normalised to simple annualised values. Payment direction depends on whether the position is long or short.
Highest rate now
+25.11%
Bybit · 4h
Lowest rate now
+6.91%
OKX · 4h
Spread
18.20
points
By venue
| Venue | Rate | Annualised | 30d realised APR | Max leverage | 24h turnover | Actions |
|---|---|---|---|---|---|---|
| BybitCentralisedMERLPERP | +0.0115%4h | +25.11% | — no history yet |
25x | 12.9K | |
| AsterOn-chainMERLUSDT | +0.0013%1h | +10.95% | — no history yet |
— | 14 | |
| BinanceCentralisedMERLUSDT | +0.0050%4h | +10.95% | — no history yet |
50x | 1.4M | |
| BitgetCentralisedMERLUSDT | +0.0050%4h | +10.95% | — no history yet |
25x | 198.9K | |
| BybitCentralisedMERLUSDT | +0.0100%8h | +10.95% | — no history yet |
25x | 242.3K | |
| GateCentralisedMERL_USDT | +0.0100%8h | +10.95% | — no history yet |
25x | 92.4K | |
| HyperliquidOn-chainMERL | +0.0013%1h | +10.95% | — no history yet |
3x | 102.5K | |
| OKXCentralisedMERL-USDT-SWAP | +0.0032%4h | +6.91% | — no history yet |
20x | 1.5M |
MERL comparison scope and payment direction
This page retains low-turnover MERL contracts without the main ranking’s $1M threshold. Positive funding is paid by longs; negative funding is paid by shorts. High and low are rate values, not recommendations. Contracts can use different quote currencies, settlement currencies and multipliers; check their specifications before comparing. Annualisation method · Official sources.
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Margin ladders
Bybit · MERLPERP With deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 5000 quote | 2.0000% | 25.00x | — |
| 2 | 5000 – 10000 quote | 2.5000% | 20.00x | 25 |
| 3 | 10000 – 12000 quote | 3.1300% | 16.00x | 88 |
| 4 | 12000 – 14000 quote | 3.5700% | 14.00x | 140.8 |
| 5 | 14000 – 16000 quote | 4.1700% | 12.00x | 224.8 |
| 6 | 16000 – 18000 quote | 4.5500% | 11.00x | 285.6 |
| 7 | 18000 – 20000 quote | 5.0000% | 10.00x | 366.6 |
| 8 | 20000 – 23500 quote | 5.5600% | 9.00x | 478.6 |
| 9 | 23500 – 27000 quote | 6.2500% | 8.00x | 640.75 |
| 10 | 27000 – 30500 quote | 6.6700% | 7.50x | 754.15 |
| 11 | 30500 – 34000 quote | 7.1400% | 7.00x | 897.5 |
| 12 | 34000 – 37500 quote | 7.6900% | 6.50x | 1084.5 |
| 13 | 37500 – 41000 quote | 8.3300% | 6.00x | 1324.5 |
| 14 | 41000 – 44500 quote | 9.0900% | 5.50x | 1636.1 |
| 15 | 44500 – 50000 quote | 10.0000% | 5.00x | 2041.05 |
| 16 | 50000 – 62500 quote | 10.5300% | 4.75x | 2306.05 |
| 17 | 62500 – 75000 quote | 11.1100% | 4.50x | 2668.55 |
| 18 | 75000 – 87500 quote | 11.7600% | 4.25x | 3156.05 |
| 19 | 87500 – 100000 quote | 12.5000% | 4.00x | 3803.55 |
| 20 | 100000 – 125000 quote | 13.3300% | 3.75x | 4633.55 |
| 21 | 125000 – 150000 quote | 14.2900% | 3.50x | 5833.55 |
| 22 | 150000 – 175000 quote | 15.3800% | 3.25x | 7468.55 |
| 23 | 175000 – 200000 quote | 16.6700% | 3.00x | 9726.05 |
| 24 | 200000 – 250000 quote | 18.1800% | 2.75x | 12746.05 |
| 25 | 250000 – 300000 quote | 20.0000% | 2.50x | 17296.05 |
| 26 | 300000 – 350000 quote | 22.2200% | 2.25x | 23956.05 |
| 27 | 350000 – 500000 quote | 25.0000% | 2.00x | 33686.05 |
| 28 | 500000 – 1000000 quote | 28.5700% | 1.75x | 51536.05 |
| 29 | 1000000 – 1750000 quote | 33.3300% | 1.50x | 99136.05 |
| 30 | 1750000 – ∞ quote | 50.0000% | 1.00x | 390861.05 |
Binance · MERLUSDT With deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 5000 quote | 1.5000% | 50.00x | — |
| 2 | 5000 – 10000 quote | 2.5000% | 20.00x | 50 |
| 3 | 10000 – 20000 quote | 5.0000% | 10.00x | 300 |
| 4 | 20000 – 50000 quote | 10.0000% | 5.00x | 1300 |
| 5 | 50000 – 250000 quote | 12.5000% | 4.00x | 2550 |
| 6 | 250000 – 500000 quote | 16.6700% | 3.00x | 12975 |
| 7 | 500000 – 7500000 quote | 25.0000% | 2.00x | 54625 |
| 8 | 7500000 – 12500000 quote | 50.0000% | 1.00x | 1929625 |
Bitget · MERLUSDT No deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 5000 quote | 2.0000% | 25.00x | — |
| 2 | 5000 – 10000 quote | 3.0000% | 20.00x | — |
| 3 | 10000 – 30000 quote | 5.0000% | 10.00x | — |
| 4 | 30000 – 50000 quote | 12.0000% | 5.00x | — |
| 5 | 50000 – 250000 quote | 15.0000% | 4.00x | — |
| 6 | 250000 – 7500000 quote | 30.0000% | 2.00x | — |
| 7 | 7500000 – ∞ quote | 60.0000% | 1.00x | — |
Bybit · MERLUSDT With deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 5000 quote | 2.0000% | 25.00x | — |
| 2 | 5000 – 10000 quote | 2.5000% | 20.00x | 25 |
| 3 | 10000 – 12000 quote | 3.1300% | 16.00x | 88 |
| 4 | 12000 – 14000 quote | 3.5700% | 14.00x | 140.8 |
| 5 | 14000 – 16000 quote | 4.1700% | 12.00x | 224.8 |
| 6 | 16000 – 18000 quote | 4.5500% | 11.00x | 285.6 |
| 7 | 18000 – 20000 quote | 5.0000% | 10.00x | 366.6 |
| 8 | 20000 – 23500 quote | 5.5600% | 9.00x | 478.6 |
| 9 | 23500 – 27000 quote | 6.2500% | 8.00x | 640.75 |
| 10 | 27000 – 30500 quote | 6.6700% | 7.50x | 754.15 |
| 11 | 30500 – 34000 quote | 7.1400% | 7.00x | 897.5 |
| 12 | 34000 – 37500 quote | 7.6900% | 6.50x | 1084.5 |
| 13 | 37500 – 41000 quote | 8.3300% | 6.00x | 1324.5 |
| 14 | 41000 – 44500 quote | 9.0900% | 5.50x | 1636.1 |
| 15 | 44500 – 50000 quote | 10.0000% | 5.00x | 2041.05 |
| 16 | 50000 – 62500 quote | 10.5300% | 4.75x | 2306.05 |
| 17 | 62500 – 75000 quote | 11.1100% | 4.50x | 2668.55 |
| 18 | 75000 – 87500 quote | 11.7600% | 4.25x | 3156.05 |
| 19 | 87500 – 100000 quote | 12.5000% | 4.00x | 3803.55 |
| 20 | 100000 – 125000 quote | 13.3300% | 3.75x | 4633.55 |
| 21 | 125000 – 150000 quote | 14.2900% | 3.50x | 5833.55 |
| 22 | 150000 – 175000 quote | 15.3800% | 3.25x | 7468.55 |
| 23 | 175000 – 200000 quote | 16.6700% | 3.00x | 9726.05 |
| 24 | 200000 – 250000 quote | 18.1800% | 2.75x | 12746.05 |
| 25 | 250000 – 300000 quote | 20.0000% | 2.50x | 17296.05 |
| 26 | 300000 – 350000 quote | 22.2200% | 2.25x | 23956.05 |
| 27 | 350000 – 500000 quote | 25.0000% | 2.00x | 33686.05 |
| 28 | 500000 – 1000000 quote | 28.5700% | 1.75x | 51536.05 |
| 29 | 1000000 – 1750000 quote | 33.3300% | 1.50x | 99136.05 |
| 30 | 1750000 – ∞ quote | 50.0000% | 1.00x | 390861.05 |
Gate · MERL_USDT With deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 5000 quote | 2.5000% | 25.00x | — |
| 2 | 5000 – 7000 quote | 3.0000% | 22.00x | 25 |
| 3 | 7000 – 10000 quote | 3.5000% | 20.00x | 60 |
| 4 | 10000 – 15000 quote | 5.0000% | 15.00x | 210 |
| 5 | 15000 – 20000 quote | 6.0000% | 12.00x | 360 |
| 6 | 20000 – 30000 quote | 7.0000% | 11.00x | 560 |
| 7 | 30000 – 50000 quote | 8.0000% | 10.00x | 860 |
| 8 | 50000 – 70000 quote | 10.0000% | 8.00x | 1860 |
| 9 | 70000 – 100000 quote | 12.0000% | 7.00x | 3260 |
| 10 | 100000 – 150000 quote | 14.0000% | 6.00x | 5260 |
| 11 | 150000 – 200000 quote | 16.0000% | 5.00x | 8260 |
| 12 | 200000 – 300000 quote | 20.0000% | 4.00x | 16260 |
| 13 | 300000 – 500000 quote | 28.0000% | 3.00x | 40260 |
| 14 | 500000 – 700000 quote | 45.0000% | 2.00x | 125260 |
| 15 | 700000 – 1000000 quote | 60.0000% | 1.50x | 230260 |
| 16 | 1000000 – 1500000 quote | 78.0000% | 1.20x | 410260 |
| 17 | 1500000 – ∞ quote | 90.0000% | 1.05x | 590260 |
Hyperliquid · MERL With deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – ∞ quote | 16.6667% | 3.00x | — |
OKX · MERL-USDT-SWAP No deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 220000 base | 2.0000% | 20.00x | — |
| 2 | 220001 – 450000 base | 3.0000% | 15.00x | — |
| 3 | 450001 – 680000 base | 4.0000% | 12.50x | — |
| 4 | 680001 – 900000 base | 4.5000% | 11.76x | — |
| 5 | 900001 – 1120000 base | 5.0000% | 11.11x | — |
| 6 | 1120001 – 1340000 base | 5.5000% | 10.52x | — |
| 7 | 1340001 – 1560000 base | 6.0000% | 10.00x | — |
| 8 | 1560001 – 1780000 base | 6.5000% | 9.52x | — |
| 9 | 1780001 – 2000000 base | 7.0000% | 9.09x | — |
| 10 | 2000001 – 2220000 base | 7.5000% | 8.69x | — |
| 11 | 2220001 – 2440000 base | 8.0000% | 8.33x | — |
| 12 | 2440001 – 2660000 base | 8.5000% | 8.00x | — |
| 13 | 2660001 – 2880000 base | 9.0000% | 7.69x | — |
| 14 | 2880001 – 3100000 base | 9.5000% | 7.40x | — |
| 15 | 3100001 – 3320000 base | 10.0000% | 7.14x | — |
| 16 | 3320001 – 3540000 base | 10.5000% | 6.89x | — |
| 17 | 3540001 – 3760000 base | 11.0000% | 6.66x | — |
| 18 | 3760001 – 3980000 base | 11.5000% | 6.45x | — |
| 19 | 3980001 – 4200000 base | 12.0000% | 6.25x | — |
| 20 | 4200001 – 4420000 base | 12.5000% | 6.06x | — |
| 21 | 4420001 – 4640000 base | 13.0000% | 5.88x | — |
| 22 | 4640001 – 4860000 base | 13.5000% | 5.71x | — |
| 23 | 4860001 – 5080000 base | 14.0000% | 5.55x | — |
| 24 | 5080001 – 5300000 base | 14.5000% | 5.40x | — |
| 25 | 5300001 – 5520000 base | 15.0000% | 5.26x | — |
| 26 | 5520001 – 5740000 base | 15.5000% | 5.12x | — |
| 27 | 5740001 – 5960000 base | 16.0000% | 5.00x | — |
| 28 | 5960001 – 6180000 base | 16.5000% | 4.87x | — |
| 29 | 6180001 – 6400000 base | 17.0000% | 4.76x | — |
| 30 | 6400001 – 6620000 base | 17.5000% | 4.65x | — |
| 31 | 6620001 – 6840000 base | 18.0000% | 4.54x | — |
| 32 | 6840001 – 7060000 base | 18.5000% | 4.44x | — |
| 33 | 7060001 – 7280000 base | 19.0000% | 4.34x | — |
| 34 | 7280001 – 7500000 base | 19.5000% | 4.25x | — |
| 35 | 7500001 – 7720000 base | 20.0000% | 4.16x | — |
| 36 | 7720001 – 7940000 base | 20.5000% | 4.08x | — |
| 37 | 7940001 – 8160000 base | 21.0000% | 4.00x | — |
| 38 | 8160001 – 8380000 base | 21.5000% | 3.92x | — |
| 39 | 8380001 – 8600000 base | 22.0000% | 3.84x | — |
| 40 | 8600001 – 8820000 base | 22.5000% | 3.77x | — |
| 41 | 8820001 – 9040000 base | 23.0000% | 3.70x | — |
| 42 | 9040001 – 9260000 base | 23.5000% | 3.63x | — |
| 43 | 9260001 – 9480000 base | 24.0000% | 3.57x | — |
| 44 | 9480001 – 9700000 base | 24.5000% | 3.50x | — |
| 45 | 9700001 – 9920000 base | 25.0000% | 3.44x | — |
| 46 | 9920001 – 10140000 base | 25.5000% | 3.38x | — |
| 47 | 10140001 – 10360000 base | 26.0000% | 3.33x | — |
| 48 | 10360001 – 10580000 base | 26.5000% | 3.27x | — |
| 49 | 10580001 – 10800000 base | 27.0000% | 3.22x | — |
| 50 | 10800001 – 11020000 base | 27.5000% | 3.17x | — |
| 51 | 11020001 – 11240000 base | 28.0000% | 3.12x | — |
| 52 | 11240001 – 11460000 base | 28.5000% | 3.07x | — |
| 53 | 11460001 – 11680000 base | 29.0000% | 3.03x | — |
| 54 | 11680001 – 11900000 base | 29.5000% | 2.98x | — |
| 55 | 11900001 – 12120000 base | 30.0000% | 2.94x | — |
| 56 | 12120001 – 12340000 base | 30.5000% | 2.89x | — |
| 57 | 12340001 – 12560000 base | 31.0000% | 2.85x | — |
| 58 | 12560001 – 12780000 base | 31.5000% | 2.81x | — |
| 59 | 12780001 – 13000000 base | 32.0000% | 2.77x | — |
| 60 | 13000001 – 13220000 base | 32.5000% | 2.73x | — |
| 61 | 13220001 – 13440000 base | 33.0000% | 2.70x | — |
| 62 | 13440001 – 13660000 base | 33.5000% | 2.66x | — |
| 63 | 13660001 – 13880000 base | 34.0000% | 2.63x | — |
| 64 | 13880001 – 14100000 base | 34.5000% | 2.59x | — |
| 65 | 14100001 – 14320000 base | 35.0000% | 2.56x | — |
| 66 | 14320001 – 14540000 base | 35.5000% | 2.53x | — |
| 67 | 14540001 – 14760000 base | 36.0000% | 2.50x | — |
| 68 | 14760001 – 14980000 base | 36.5000% | 2.46x | — |
| 69 | 14980001 – 15200000 base | 37.0000% | 2.43x | — |
| 70 | 15200001 – 15420000 base | 37.5000% | 2.40x | — |
| 71 | 15420001 – 15640000 base | 38.0000% | 2.38x | — |
| 72 | 15640001 – 15860000 base | 38.5000% | 2.35x | — |
| 73 | 15860001 – 16080000 base | 39.0000% | 2.32x | — |
| 74 | 16080001 – 16300000 base | 39.5000% | 2.29x | — |
| 75 | 16300001 – 16520000 base | 40.0000% | 2.27x | — |
| 76 | 16520001 – 16740000 base | 40.5000% | 2.24x | — |
| 77 | 16740001 – 16960000 base | 41.0000% | 2.22x | — |
| 78 | 16960001 – 17180000 base | 41.5000% | 2.19x | — |
| 79 | 17180001 – 17400000 base | 42.0000% | 2.17x | — |
| 80 | 17400001 – 17620000 base | 42.5000% | 2.15x | — |
| 81 | 17620001 – 17840000 base | 43.0000% | 2.12x | — |
| 82 | 17840001 – 18060000 base | 43.5000% | 2.10x | — |
| 83 | 18060001 – 18280000 base | 44.0000% | 2.08x | — |
| 84 | 18280001 – 18500000 base | 44.5000% | 2.06x | — |
| 85 | 18500001 – 18720000 base | 45.0000% | 2.04x | — |
| 86 | 18720001 – 18940000 base | 45.5000% | 2.02x | — |
| 87 | 18940001 – 19160000 base | 46.0000% | 2.00x | — |