OKX MERL perpetual
MERL-USDT-SWAP
As of 2026-10-15 05:11 UTC, MERL-USDT-SWAP on OKX has a collected rate of -0.0073% over 4h, or -15.94% simple annualised; its collected settlement interval is 4h, with up to 20x leverage. Aster has a lower rate for longs at -90.19%.
Settled rates over the past 30 days
Settled funding for MERL-USDT-SWAP
The latest 30-day window contains 179 settlements covering 716 known-period hours, with a cumulative rate of +0.7632%. The latest 12 settlements are shown below.
| Settlement time (UTC) | Rate | Rate period |
|---|---|---|
| 2026-10-15 00:00 | +0.0050% | 4h |
| 2026-10-14 20:00 | +0.0050% | 4h |
| 2026-10-14 16:00 | +0.0050% | 4h |
| 2026-10-14 12:00 | +0.0045% | 4h |
| 2026-10-14 08:00 | -0.0120% | 4h |
| 2026-10-14 04:00 | +0.0050% | 4h |
| 2026-10-14 00:00 | -0.0039% | 4h |
| 2026-10-13 20:00 | +0.0050% | 4h |
| 2026-10-13 16:00 | -0.0024% | 4h |
| 2026-10-13 12:00 | +0.0050% | 4h |
| 2026-10-13 08:00 | +0.0050% | 4h |
| 2026-10-13 04:00 | +0.0050% | 4h |
The cumulative rate sums actual settlements with known periods. Positive totals mean net payment by longs and receipt by shorts; negative totals reverse the direction. If notional value changed, multiplying the current position by this total will not reproduce account cash flows. Historical rates do not predict returns.
What does this rate mean for a 10,000 USDT position?
For MERL-USDT-SWAP, 10,000 USDT of notional × -0.007278% gives 0.7278 USDT over the quoted 4h rate period: longs receive and shorts pay. This is a constant-rate illustration, not a settled bill or a forecast. Use the actual settlement rate and notional at each settlement; leverage is not multiplied again. Trading fees are separate.
How do I select the margin tier for MERL-USDT-SWAP?
This table selects tiers by base-asset quantity in MERL, not by the amount of margin deposited. The first tier starts at 0 and ends at 450000 MERL. Above that, tier 2 requires 3.0000% maintenance margin.
Contract units and calculator input
One MERL-USDT-SWAP contract represents 1 MERL. Order lot size is expressed in the venue’s original unit. The liquidation calculator expects base-asset quantity; do not enter a contract count without converting units.
Further readingHow liquidation price is calculated: tiered maintenance margin and deductionsHow funding fees work: amounts, signs and settlement
Maintenance margin ladder
No deduction · An isolated-margin estimate for linear contracts; excludes closing fees, accrued funding, auto-added margin and other positions.
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 450000 base | 2.0000% | 20.00x | — |
| 2 | 450001 – 900000 base | 3.0000% | 15.00x | — |
| 3 | 900001 – 1350000 base | 4.0000% | 12.50x | — |
| 4 | 1350001 – 1800000 base | 4.5000% | 11.76x | — |
| 5 | 1800001 – 2250000 base | 5.0000% | 11.11x | — |
| 6 | 2250001 – 2700000 base | 5.5000% | 10.52x | — |
| 7 | 2700001 – 3150000 base | 6.0000% | 10.00x | — |
| 8 | 3150001 – 3600000 base | 6.5000% | 9.52x | — |
| 9 | 3600001 – 4050000 base | 7.0000% | 9.09x | — |
| 10 | 4050001 – 4500000 base | 7.5000% | 8.69x | — |
| 11 | 4500001 – 4950000 base | 8.0000% | 8.33x | — |
| 12 | 4950001 – 5400000 base | 8.5000% | 8.00x | — |
| 13 | 5400001 – 5850000 base | 9.0000% | 7.69x | — |
| 14 | 5850001 – 6300000 base | 9.5000% | 7.40x | — |
| 15 | 6300001 – 6750000 base | 10.0000% | 7.14x | — |
| 16 | 6750001 – 7200000 base | 10.5000% | 6.89x | — |
| 17 | 7200001 – 7650000 base | 11.0000% | 6.66x | — |
| 18 | 7650001 – 8100000 base | 11.5000% | 6.45x | — |
| 19 | 8100001 – 8550000 base | 12.0000% | 6.25x | — |
| 20 | 8550001 – 9000000 base | 12.5000% | 6.06x | — |
| 21 | 9000001 – 9450000 base | 13.0000% | 5.88x | — |
| 22 | 9450001 – 9900000 base | 13.5000% | 5.71x | — |
| 23 | 9900001 – 10350000 base | 14.0000% | 5.55x | — |
| 24 | 10350001 – 10800000 base | 14.5000% | 5.40x | — |
| 25 | 10800001 – 11250000 base | 15.0000% | 5.26x | — |
| 26 | 11250001 – 11700000 base | 15.5000% | 5.12x | — |
| 27 | 11700001 – 12150000 base | 16.0000% | 5.00x | — |
| 28 | 12150001 – 12600000 base | 16.5000% | 4.87x | — |
| 29 | 12600001 – 13050000 base | 17.0000% | 4.76x | — |
| 30 | 13050001 – 13500000 base | 17.5000% | 4.65x | — |
| 31 | 13500001 – 13950000 base | 18.0000% | 4.54x | — |
| 32 | 13950001 – 14400000 base | 18.5000% | 4.44x | — |
| 33 | 14400001 – 14850000 base | 19.0000% | 4.34x | — |
| 34 | 14850001 – 15300000 base | 19.5000% | 4.25x | — |
| 35 | 15300001 – 15750000 base | 20.0000% | 4.16x | — |
| 36 | 15750001 – 16200000 base | 20.5000% | 4.08x | — |
| 37 | 16200001 – 16650000 base | 21.0000% | 4.00x | — |
| 38 | 16650001 – 17100000 base | 21.5000% | 3.92x | — |
| 39 | 17100001 – 17550000 base | 22.0000% | 3.84x | — |
| 40 | 17550001 – 18000000 base | 22.5000% | 3.77x | — |
| 41 | 18000001 – 18450000 base | 23.0000% | 3.70x | — |
| 42 | 18450001 – 18900000 base | 23.5000% | 3.63x | — |
| 43 | 18900001 – 19350000 base | 24.0000% | 3.57x | — |
| 44 | 19350001 – 19800000 base | 24.5000% | 3.50x | — |
| 45 | 19800001 – 20250000 base | 25.0000% | 3.44x | — |
| 46 | 20250001 – 20700000 base | 25.5000% | 3.38x | — |
| 47 | 20700001 – 21150000 base | 26.0000% | 3.33x | — |
| 48 | 21150001 – 21600000 base | 26.5000% | 3.27x | — |
| 49 | 21600001 – 22050000 base | 27.0000% | 3.22x | — |
| 50 | 22050001 – 22500000 base | 27.5000% | 3.17x | — |
| 51 | 22500001 – 22950000 base | 28.0000% | 3.12x | — |
| 52 | 22950001 – 23400000 base | 28.5000% | 3.07x | — |
| 53 | 23400001 – 23850000 base | 29.0000% | 3.03x | — |
| 54 | 23850001 – 24300000 base | 29.5000% | 2.98x | — |
| 55 | 24300001 – 24750000 base | 30.0000% | 2.94x | — |
| 56 | 24750001 – 25200000 base | 30.5000% | 2.89x | — |
| 57 | 25200001 – 25650000 base | 31.0000% | 2.85x | — |
| 58 | 25650001 – 26100000 base | 31.5000% | 2.81x | — |
| 59 | 26100001 – 26550000 base | 32.0000% | 2.77x | — |
| 60 | 26550001 – 27000000 base | 32.5000% | 2.73x | — |
| 61 | 27000001 – 27450000 base | 33.0000% | 2.70x | — |
| 62 | 27450001 – 27900000 base | 33.5000% | 2.66x | — |
| 63 | 27900001 – 28350000 base | 34.0000% | 2.63x | — |
| 64 | 28350001 – 28800000 base | 34.5000% | 2.59x | — |
| 65 | 28800001 – 29250000 base | 35.0000% | 2.56x | — |
| 66 | 29250001 – 29700000 base | 35.5000% | 2.53x | — |
| 67 | 29700001 – 30150000 base | 36.0000% | 2.50x | — |
| 68 | 30150001 – 30600000 base | 36.5000% | 2.46x | — |
| 69 | 30600001 – 31050000 base | 37.0000% | 2.43x | — |
| 70 | 31050001 – 31500000 base | 37.5000% | 2.40x | — |
| 71 | 31500001 – 31950000 base | 38.0000% | 2.38x | — |
| 72 | 31950001 – 32400000 base | 38.5000% | 2.35x | — |
| 73 | 32400001 – 32850000 base | 39.0000% | 2.32x | — |
| 74 | 32850001 – 33300000 base | 39.5000% | 2.29x | — |
| 75 | 33300001 – 33750000 base | 40.0000% | 2.27x | — |
| 76 | 33750001 – 34200000 base | 40.5000% | 2.24x | — |
| 77 | 34200001 – 34650000 base | 41.0000% | 2.22x | — |
| 78 | 34650001 – 35100000 base | 41.5000% | 2.19x | — |
| 79 | 35100001 – 35550000 base | 42.0000% | 2.17x | — |
| 80 | 35550001 – 36000000 base | 42.5000% | 2.15x | — |
| 81 | 36000001 – 36450000 base | 43.0000% | 2.12x | — |
| 82 | 36450001 – 36900000 base | 43.5000% | 2.10x | — |
| 83 | 36900001 – 37350000 base | 44.0000% | 2.08x | — |
| 84 | 37350001 – 37800000 base | 44.5000% | 2.06x | — |
| 85 | 37800001 – 38250000 base | 45.0000% | 2.04x | — |
| 86 | 38250001 – 38700000 base | 45.5000% | 2.02x | — |
| 87 | 38700001 – 39150000 base | 46.0000% | 2.00x | — |
Contract specification
Quote currency: USDT · Settlement currency: USDT · Settlement interval: 4h (00:00 · 04:00 · 08:00 · 12:00 · 16:00 · 20:00 UTC). Lot size uses the venue’s original order unit; the calculator takes base-asset quantity. Settlement intervals and times on every venue.
The same asset elsewhere
| Venue | Contract | Rate period | Annualised |
|---|---|---|---|
| Aster | MERLUSDT | 4h | -90.19% |
| Binance | MERLUSDT | 4h | -54.91% |
| Gate | MERL_USDT | 8h | -23.98% |
| OKX this page | MERL-USDT-SWAP | 4h | -15.94% |
| Bybit | MERLUSDT | 8h | +3.76% |
| Bitget | MERLUSDT | 4h | +10.95% |
| Bybit | MERLPERP | 4h | +10.95% |
| Hyperliquid | MERL | 1h | +10.95% |
Common questions
What is the OKX MERL funding rate?
The latest collected OKX MERL funding rate is -0.0073% per 4h rate period, or -15.94% simple annualised. At this rate shorts pay longs.
How often is funding charged on OKX MERL?
The collected settlement interval is 4h, normally 6 times a day. Settlements fall at 00:00, 04:00, 08:00, 12:00, 16:00 and 20:00 UTC, the same times in UTC+8. Venues can change it again; confirm the next settlement time on the venue's contract page.
What is the maximum leverage on OKX MERL?
The collected leverage cap for OKX MERL is 20x, with 87 margin tiers shown. The first margin tier, up to 450000 MERL, allows 20x; the second allows 15x.
What is the maintenance margin rate on OKX MERL?
The first tier requires 2.0000%, with 87 available tiers. The applicable requirement depends on the position’s tier. This venue applies no deduction: maintenance margin = notional × the rate of the tier the position falls in.
Which venue has the lowest MERL funding cost for longs?
For a long position, Aster currently has the lowest rate at -90.19% annualised; this page's OKX is at -15.94%. Negative funding pays longs. Trading costs are excluded, and the cash-flow direction reverses for shorts.
What has OKX MERL funding paid over the past 30 days?
Settlements over the past 30 days annualise to +9.34% across 179 settlements, 5% of which were negative (shorts paying). That is what already happened, not a forecast.
Observation time and verification
This contract’s funding was observed at 2026-10-15 05:11 UTC; an unsettled quote may still change. A dash denotes missing usable data, not zero. OKX official data source · Funding methodology
History coverage for this contract
179 settlements are available, covering 716 known-period hours, from 2026-09-15 08:00 to 2026-10-15 00:00 UTC. Annualisation uses those covered hours; a full 30-day record is not implied.