MERLIN CHAIN (MERL) price, where to buy & arbitrage

MERL 21 exchanges

Merlin Chain (MERL) trades on 21 exchanges that Finder tracks live, across 15 spot, 17 perpetual markets. Merlin Chain arbitrage means buying MERL where it is priced lower and selling where it is higher, capturing the gap before it closes. The deepest liquidity is on Bingx ($6,627,794 of $20,381,165 total 24h volume). It can be moved between exchanges over MERL. With both spot and perpetual MERL markets live, the spot-versus-perp gap and the cross-exchange spread are both arbitrage opportunities. Finder compares every MERL quote in real time to surface the best cross-exchange arbitrage spread, with live deposit and withdrawal status on each rail. Closed transfer rails are flagged before you act, so a wide spread on a stuck route is never shown as live.

Data refreshed 2026-06-29
View on dashboard CoinGecko ↗
Live · 21 exchanges Real-time ↗
$0.019811
+5.23%24h
Cross-exchange $0.00 · 1.90%
Htx → Ascendex · 24h high +2.94% · 16h ago
Most liquid Bingx futures · $6.6M/24h
Supported networks 3 chains
Merl Bep20 Erc20

MERL price · last 7d

-6.76%
low 0.015745 Bingx · 7d high 0.02124

Where MERL trades

32 markets
Exchange
Market
Funding
Bid
Ask
24h Vol
Vol%
NetworkD/WFee
Bingx
spot
—
$0.01979
$0.01991
—
—
MERLDW$0.11
Bingx
futures
+0.0050%
$0.01978
$0.01986
$6.6M
32.5%
MERLDW$0.11
Bitmart
spot
—
$0.0197
$0.02
$796k
3.9%
MERLDW$0.04
Bitmart
futures
+0.0050%
$0.01976
$0.01983
$1.6M
7.8%
MERLDW$0.04
Okx
spot
—
$0.01984
$0.01988
$235k
1.2%
MERLDW$0.11
Okx
futures
+0.0050%
$0.01982
$0.01984
$1.3M
6.4%
MERLDW$0.11
Lbank
spot
—
$0.01984
$0.01988
$232k
1.1%
MERLDW$0.04
Lbank
futures
+0.0050%
$0.01979
$0.01981
$788k
3.9%
MERLDW$0.04
Bybit
spot
—
$0.01984
$0.0199
$122k
0.6%
MERLDW$0.10
Bybit
futures
+0.0100%
$0.01981
$0.01983
$410k
2.0%
MERLDW$0.10
Mexc
spot
—
$0.01976
$0.01983
$66k
0.3%
MERLDW$0.06
Mexc
futures
+0.0050%
$0.01979
$0.0198
$345k
1.7%
MERLDW$0.06
Bitget
spot
—
$0.01983
$0.01988
$28k
0.1%
MERLDW$3.64
Bitget
futures
+0.0050%
$0.01984
$0.01988
$152k
0.7%
MERLDW$3.64
Kucoin
spot
—
$0.01976
$0.01989
$16k
<0.1%
MERLDW$0.30
Kucoin
futures
+0.0628%
$0.01982
$0.01988
$157k
0.8%
MERLDW$0.30
Gateio
spot
—
$0.01981
$0.01989
$40k
0.2%
MERLDW
Gateio
futures
+0.0100%
$0.01981
$0.01985
$103k
0.5%
MERLDW
Phemex
spot
—
$0.0198
$0.0199
$19k
<0.1%
MERLDW
Phemex
futures
+0.0050%
$0.0198
$0.01989
$118k
0.6%
MERLDW
Weex
spot
—
$0.01981
$0.01991
$3k
<0.1%
❔
Weex
futures
·
$0.0198
$0.01981
$98k
0.5%
❔
Hotcoin
futures
+0.0050%
$0.01981
$0.01984
$2.9M
14.0%
MERLDWfree
Htx
spot
—
$0.019
$0.02
$2.2M
10.8%
MERLDW$0.05
Binance
futures
+0.0050%
$0.01979
$0.0198
$1.3M
6.4%
❔
Xt
futures
+0.0100%
$0.01981
$0.01983
$414k
2.0%
MERLDW$0.55
Ourbit
futures
+0.0050%
$0.01979
$0.0198
$217k
1.1%
❔
Hyperliquid
futures
+0.0013%
$0.019797
$0.019835
$96k
0.5%
❔
Ascendex
spot
—
$0.0192
$0.0199
$49k
0.2%
MERLDW$4.56
Coinex
spot
—
$0.0198
$0.019934
$3k
<0.1%
MERLDW
Kraken
spot
—
$0.01974
$0.01986
$2k
<0.1%
❔
Asterdex
futures
+0.0013%
$0.01976
$0.01984
$2k
<0.1%
❔

About Merlin Chain spreads

Q.01 Where can I buy MERL? +
MERL is listed on 32 exchanges: Ascendex, Asterdex, Binance, Bingx, Bitget, Bitmart, Bybit, Coinex, …. The highest-volume market is Bingx ($6,627,794 24h). Current lowest price: $0.0195 on Htx (spot).
Q.02 Where is MERL cheapest to buy right now? +
The lowest live MERL price across the exchanges we track is $0.0195 on Htx (spot). Prices move every second, so the cheapest exchange can change. The live table above is the source of truth.
Q.03 Does MERL trade on spot or futures? +
MERL is available across 15 spot markets, 17 perpetual markets. Both spot-versus-perp and cross-exchange spreads are surfaced on the dashboard.
Q.04 How do I arbitrage MERL between exchanges? +
Buy MERL on the cheaper exchange and sell on the dearer one, then settle the difference. You either transfer the coin (only when the deposit and withdrawal rail is open) or hold offsetting spot and perpetual legs. The main risks are transfer windows, fees and execution speed, all of which Finder surfaces per spread so you act only on routes that are actually open.
Q.05 Which networks does MERL support for deposit and withdrawal? +
MERL can be transferred via MERL networks. Real-time deposit/withdrawal status per exchange is tracked in the table above. Rails change frequently and we refresh our data every few minutes.
Q.06 How often are MERL prices and arbitrage data updated? +
Orderbook prices come from exchange WebSockets with per-symbol updates within seconds. Deposit/withdrawal status refreshes every few minutes. Arbitrage spreads are computed continuously from the same stream.

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How to arbitrage MERL

Cross-exchange arbitrage
Compare spot prices across exchanges, move the coin on an open rail, capture the gap.
Spot-futures basis
Trade the basis between spot and the perpetual on the same asset.
%
Funding-rate arbitrage
Earn the funding-rate spread delta-neutral across perpetual venues.
Full arbitrage guide
The complete playbook: routes, fees, transfer rails, risks and execution.

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1.003 1.000 0.997 0.880

normal: inside the band depeg event

trough ~0.88 ±0.05% recovery

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