Emperor Mihail II

You may look at the top card of your library any time.
You may cast Merfolk spells from the top of your library.
Whenever you cast a Merfolk spell, you may pay {1}. If you do, create a 1/1 blue Merfolk creature token.

Stonybrook Banneret

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Merfolk spells and Wizard spells you cast cost {1} less to cast.

Master of the Pearl Trident

Other Merfolk creatures you control get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Wizard's Retort

This spell costs {1} less to cast if you control a Wizard.
Counter target spell.

Path of Ancestry

Path of Ancestry enters tapped.
{T}: Add one mana of any color in your commander's color identity. When that mana is spent to cast a creature spell that shares a creature type with your commander, scry 1. (Look at the top card of your library. You may put that card on the bottom.)

Island

Tempest Caller

When Tempest Caller enters, tap all creatures target opponent controls.

Reconnaissance Mission

Whenever a creature you control deals combat damage to a player, you may draw a card.
Cycling {2} ({2}, Discard this card: Draw a card.)

Scry 1. (Look at the top card of your library. You may put that card on the bottom.)
Draw a card.

Merfolk Trickster

Flash
When Merfolk Trickster enters, tap target creature an opponent controls. It loses all abilities until end of turn.

River's Rebuke

Return all nonland permanents target player controls to their owner's hand.

Sea Scryer

Deeproot Waters

Whenever you cast a Merfolk spell, create a 1/1 blue Merfolk creature token with hexproof. (A creature with hexproof can't be the target of spells or abilities your opponents control.)

Levitation

Aquatic Incursion

When Aquatic Incursion enters, create two 1/1 blue Merfolk creature tokens with hexproof. (They can't be the targets of spells or abilities your opponents control.)
{3}{U}: Target Merfolk can't be blocked this turn.

Svyelun of Sea and Sky

Svyelun of Sea and Sky has indestructible as long as you control at least two other Merfolk.
Whenever Svyelun attacks, draw a card.
Other Merfolk you control have ward {1}. (Whenever another Merfolk you control becomes the target of a spell or ability an opponent controls, counter it unless that player pays {1}.)

Cursecatcher

Sacrifice Cursecatcher: Counter target instant or sorcery spell unless its controller pays {1}.

Harbinger of the Tides

You may cast this card as though it had flash if you pay {2} more to cast it. (You may cast it any time you could cast an instant.)
When this creature enters, you may return target tapped creature an opponent controls to its owner's hand.

Tidal Courier

When Tidal Courier enters, reveal the top four cards of your library. Put all Merfolk cards revealed this way into your hand and the rest on the bottom of your library in any order.
{3}{U}: Tidal Courier gains flying until end of turn.

Streambed Aquitects

{T}: Target Merfolk creature gets +1/+1 and gains islandwalk until end of turn. (It can't be blocked as long as defending player controls an Island.)
{T}: Target land becomes an Island until end of turn.

Tide Shaper

Kicker {1} (You may pay an additional {1} as you cast this spell.)
When Tide Shaper enters, if it was kicked, target land becomes an Island for as long as Tide Shaper remains on the battlefield.
Tide Shaper gets +1/+1 as long as an opponent controls an Island.

Rishadan Dockhand

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
{1}, {T}: Tap target land.

Rogue's Passage

{T}: Add {C}.
{4}, {T}: Target creature can't be blocked this turn.

Merfolk Spy

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Whenever Merfolk Spy deals combat damage to a player, that player reveals a card at random from their hand.

Flow of Ideas

Halimar Depths

Halimar Depths enters tapped.
When Halimar Depths enters, look at the top three cards of your library, then put them back in any order.
{T}: Add {U}.

Arcane Signet

{T}: Add one mana of any color in your commander's color identity.

Mist Dancer

Flying
Other Merfolk you control get +1/+0 and have flying.
Encore {5}{U}{U} ({5}{U}{U}, Exile this card from your graveyard: For each opponent, create a token copy that attacks that opponent this turn if able. They gain haste. Sacrifice them at the beginning of the next end step. Activate only as a sorcery.)

Silvergill Adept

As an additional cost to cast this spell, reveal a Merfolk card from your hand or pay {3}.
When Silvergill Adept enters, draw a card.

Aetherize

Return all attacking creatures to their owner's hand.

Bident of Thassa

Whenever a creature you control deals combat damage to a player, you may draw a card.
{1}{U}, {T}: Creatures your opponents control attack this turn if able.

Forensic Researcher

{T}: Untap another target permanent you control.
{T}, Collect evidence 3: Tap target creature you don't control. (To collect evidence 3, exile cards with total mana value 3 or greater from your graveyard.)

Heraldic Banner

As this artifact enters, choose a color.
Creatures you control of the chosen color get +1/+0.
{T}: Add one mana of the chosen color.

Aetherspouts

For each attacking creature, its owner puts it on their choice of the top or bottom of their library.

Myriad Landscape

Myriad Landscape enters tapped.
{T}: Add {C}.
{2}, {T}, Sacrifice Myriad Landscape: Search your library for up to two basic land cards that share a land type, put them onto the battlefield tapped, then shuffle.

Ravenform

Exile target artifact or creature. Its controller creates a 1/1 blue Bird creature token with flying.
Foretell {U} (During your turn, you may pay {2} and exile this card from your hand face down. Cast it on a later turn for its foretell cost.)

Consuming Tide

Each player chooses a nonland permanent they control. Return all nonland permanents not chosen this way to their owners' hands. Then you draw a card for each opponent who has more cards in their hand than you.

Slinn Voda, the Rising Deep

Kicker {1}{U} (You may pay an additional {1}{U} as you cast this spell.)
When Slinn Voda, the Rising Deep enters, if it was kicked, return all creatures to their owners' hands except for Merfolk, Krakens, Leviathans, Octopuses, and Serpents.

Seafloor Oracle

Whenever a Merfolk you control deals combat damage to a player, draw a card.

Deeproot Pilgrimage

Whenever one or more nontoken Merfolk you control become tapped, create a 1/1 blue Merfolk creature token with hexproof.

Gray Harbor Merfolk

Gray Harbor Merfolk can't be blocked.
Gray Harbor Merfolk gets +2/+0 as long as you control a commander that's a creature or planeswalker.

Thassa's Rebuff

Counter target spell unless its controller pays {X}, where X is your devotion to blue. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)

Thieving Skydiver

Kicker {X}. X can't be 0. (You may pay an additional {X} as you cast this spell.)
Flying
When Thieving Skydiver enters, if it was kicked, gain control of target artifact with mana value X or less. If that artifact is an Equipment, attach it to Thieving Skydiver.

Sky Diamond

Merfolk Sovereign

Other Merfolk creatures you control get +1/+1.
{T}: Target Merfolk creature can't be blocked this turn.

Curse of the Swine

Exile X target creatures. For each creature exiled this way, its controller creates a 2/2 green Boar creature token.

Wake Thrasher

Whenever a permanent you control becomes untapped, Wake Thrasher gets +1/+1 until end of turn.

Icon of Ancestry

As Icon of Ancestry enters, choose a creature type.
Creatures you control of the chosen type get +1/+1.
{3}, {T}: Look at the top three cards of your library. You may reveal a creature card of the chosen type from among them and put it into your hand. Put the rest on the bottom of your library in a random order.

Hidden Cataract

Hidden Cataract enters tapped.
{T}: Add {U}.
{4}{U}, {T}, Sacrifice Hidden Cataract: Discover 4. Activate only as a sorcery. (Exile cards from the top of your library until you exile a nonland card with mana value 4 or less. Cast it without paying its mana cost or put it into your hand. Put the rest on the bottom in a random order.)

Merrow Harbinger

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
When Merrow Harbinger enters, you may search your library for a Merfolk card, reveal it, then shuffle and put that card on top.

Library Larcenist

Whenever Library Larcenist attacks, draw a card.

Merfolk Looter

Mistway Spy

Flying
Disguise {1}{U} (You may cast this card face down for {3} as a 2/2 creature with ward {2}. Turn it face up any time for its disguise cost.)
When Mistway Spy is turned face up, until end of turn, whenever a creature you control deals combat damage to a player, investigate.

Resculpt

Exile target artifact or creature. Its controller creates a 4/4 blue and red Elemental creature token.

Kopala, Warden of Waves

Spells your opponents cast that target a Merfolk you control cost {2} more to cast.
Abilities your opponents activate that target a Merfolk you control cost {2} more to activate.

Crashing Tide

This spell has flash as long as you control a Merfolk.
Return target creature to its owner's hand.
Draw a card.

Merrow Reejerey

Other Merfolk creatures you control get +1/+1.
Whenever you cast a Merfolk spell, you may tap or untap target permanent.

Triton Shorestalker

Kefnet's Monument

Blue creature spells you cast cost {1} less to cast.
Whenever you cast a creature spell, target creature an opponent controls doesn't untap during its controller's next untap step.

Coral Atoll

Coral Atoll enters tapped.
When Coral Atoll enters, sacrifice it unless you return an untapped Island you control to its owner's hand.
{T}: Add {C}{U}.

Scroll Thief

Whenever Scroll Thief deals combat damage to a player, draw a card.

Cosi's Trickster

Whenever an opponent shuffles their library, you may put a +1/+1 counter on Cosi's Trickster.

Spreading Seas

Enchant land
When Spreading Seas enters, draw a card.
Enchanted land is an Island.

River Herald Scout

When River Herald Scout enters, it explores. (Reveal the top card of your library. Put that card into your hand if it's a land. Otherwise, put a +1/+1 counter on this creature, then put the card back or put it into your graveyard.)

Midnight Clock

{T}: Add {U}.
{2}{U}: Put an hour counter on Midnight Clock.
At the beginning of each upkeep, put an hour counter on Midnight Clock.
When the twelfth hour counter is put on Midnight Clock, shuffle your hand and graveyard into your library, then draw seven cards. Exile Midnight Clock.

Distant Melody

Choose a creature type. Draw a card for each permanent you control of that type.

Flow of Knowledge

Draw a card for each Island you control, then discard two cards.

Triton Wavebreaker

Bestow {1}{U} (If you cast this card for its bestow cost, it's an Aura spell with enchant creature. It becomes a creature again if it's not attached.)
As long as Triton Wavebreaker is a creature, it has prowess. (Whenever you cast a noncreature spell, this creature gets +1/+1 until end of turn.)
Enchanted creature gets +1/+1 and has prowess.

River Sneak

River Sneak can't be blocked.
Whenever another Merfolk you control enters, River Sneak gets +1/+1 until end of turn.