Merlin Chain (MERL) — price, funding and open interest
MERL/USDT perpetual on OKX · Binance · Bybit · Hyperliquid · BingX · MEXC · Bitget · HTX · KuCoin · Gate · Kraken: price 0.030590, 24h turnover $23.6M. Updated in real time.
What this is
Layer-2 networkMerlin Chain — a layer above bitcoin that adds smart contracts and applications to it. Security here is noticeably weaker than bitcoin's own.
Chart
Chart built from data of Bybit
MERL unlocks
Our sources have no unlock schedule for this coin. 68.1 % of the issued supply is in circulation per CoinGecko; the rest may be locked or not yet issued.
Net issuance will appear once our supply ledger covers 30 days.
Supply figures are from CoinGecko, updated once a day. We do not take unlock schedules from trackers.
What the data shows
MERL trades at 0.030590. Over 365 days it ranged between 0.015610 and 0.5531; the price now sits in the lower third of that range — 3% of the way from the yearly low to the high.
All-time high is 1.3844 (April 2024); the price is 98% below it now.
24-hour turnover is $23.6M — percentile 96 for the year: noticeably busier than usual.
Funding is +0.0039%: longs pay shorts, so positioning leans to buyers. That is percentile 16 for the month: a clear departure from its own norm.
The daily range is 20.1% and five-minute NATR is 0.49%. That range is at percentile 88 for the year — an unusually wide day.
Over the day +5.56%, over the hour -0.62%, over the last five minutes -0.16% — the move has only just started.
Open positions in MERL are worth $8.8M. Over the past hour open interest fell by 0.90%. That is an ordinary level for this coin — percentile 73.
Binance pays +0.0050% and Bybit +0.0100% — a gap of 0.0050 percentage points, higher on Bybit.
Traded on 11 venues: OKX, Binance, Bybit, Hyperliquid, BingX, MEXC, Bitget, HTX, KuCoin, Gate, Kraken — the price is cross-checked across several sources.
NATR is 0.13% on the minute and 2.72% on the hour — the move is choppy: within an hour price travels far and comes back.
MERL correlation with Bitcoin over 24 hours is 0.71 — the coin closely follows the market.
By turnover it ranks 216 of 2159 instruments in the screener.
By daily range it ranks 335 of 2159.
Built from current numbers and the coin's own year of history. Updates with the data.
How MERL behaved before
Tracked since April 2024 — 31 full month, and falling ones prevail: 19 of 31. Median month -5.8%.
Best month — September 2025: +151.1%. Worst — January 2026: -82.7%.
Computed from our own minute history, month by month. The past promises nothing — but it shows what is ordinary for this instrument and what is not.
Our observations
KairoRight now MERL is within its usual range: volume, funding and open interest are all unremarkable.
Computed from our own minute history for this coin over a year. Percentile is the share of days the value was below today's. Description only, no forecasts.
What we noticed earlier
Similar instruments
From the same group — layer-2 network. They open the same way, with a chart and a breakdown.
Price and movement
Turnover and activity
Futures metrics
How to read this
- Funding is a payment between longs and shorts. A positive rate means longs pay shorts: the market is crowded long.
- The rate rank shows how unusual that rate is for this particular coin: 97 means above 97% of the last month, a rare skew. Without the rank the bare number says nothing — every coin has its own normal.
- Open interest is the money sitting in positions that are still open. Rising alongside price means new money entering; rising while price falls means shorts building up.
- The OI rank is measured in contracts rather than dollars: otherwise it would drift up with price alone and claim a record where nothing changed.
- NATR shows how much a coin moves relative to its own price. High NATR with high turnover is where today's action is.
How much money sits in open positions on each venue. The total spans every exchange listing the contract.