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.

Lord of Atlantis

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

Force of Negation

If it's not your turn, you may exile a blue card from your hand rather than pay this spell's mana cost.
Counter target noncreature spell. If that spell is countered this way, exile it instead of putting it into its owner's graveyard.

Oboro, Palace in the Clouds

{T}: Add {U}.
{1}: Return Oboro, Palace in the Clouds to its owner's hand.

Mutavault

{T}: Add {C}.
{1}: Mutavault becomes a 2/2 creature with all creature types until end of turn. It's still a land.

Merfolk Trickster

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

Mystic Reflection

Choose target nonlegendary creature. The next time one or more creatures or planeswalkers enter this turn, they enter as copies of the chosen creature.
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.)

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.)

Spell Pierce

Counter target noncreature spell unless its controller pays {2}.

Aether Vial

At the beginning of your upkeep, you may put a charge counter on Aether Vial.
{T}: You may put a creature card with mana value equal to the number of charge counters on Aether Vial from your hand onto the battlefield.

Master of Waves

Protection from red
Elemental creatures you control get +1/+1.
When Master of Waves enters, create a number of 1/0 blue Elemental creature tokens equal to your devotion to blue. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)

Relic of Progenitus

{T}: Target player exiles a card from their graveyard.
{1}, Exile Relic of Progenitus: Exile all graveyards. Draw a card.

Cavern of Souls

As Cavern of Souls enters, choose a creature type.
{T}: Add {C}.
{T}: Add one mana of any color. Spend this mana only to cast a creature spell of the chosen type, and that spell can't be countered.

Island

Benthic Biomancer

{1}{U}: Adapt 1. (If this creature has no +1/+1 counters on it, put a +1/+1 counter on it.)
Whenever one or more +1/+1 counters are put on Benthic Biomancer, draw a card, then discard a card.

Spreading Seas

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

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.

Dismember

({B/P} can be paid with either {B} or 2 life.)
Target creature gets -5/-5 until end of turn.

Phantasmal Image

You may have Phantasmal Image enter as a copy of any creature on the battlefield, except it's an Illusion in addition to its other types and it has "When this creature becomes the target of a spell or ability, sacrifice it."

Deprive

As an additional cost to cast this spell, return a land you control to its owner's hand.
Counter target spell.