Brainstorm

Draw three cards, then put two cards from your hand on top of your library in any order.

Master of Waves

Protection from red
Elemental creatures you control get +1/+1.
When this creature 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.)

Ponder

Look at the top three cards of your library, then put them back in any order. You may shuffle.
Draw a card.

Coralhelm Commander

Level up {1} ({1}: Put a level counter on this. Level up only as a sorcery.)
LEVEL 2-3
3/3
Flying
LEVEL 4+
4/4
Flying
Other Merfolk creatures you control get +1/+1.

Merrow Reejerey

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

Preordain

Scry 2, then draw a card. (To scry 2, look at the top two cards of your library, then put any number of them on the bottom and the rest on top in any order.)

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.

Azami, Lady of Scrolls

Tap an untapped Wizard you control: Draw a card.

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.)

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.

Lord of Atlantis

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

Kira, Great Glass-Spinner

Flying
Creatures you control have "Whenever this creature becomes the target of a spell or ability for the first time each turn, counter that spell or ability."

Merfolk Trickster

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

True-Name Nemesis

As this creature enters, choose a player.
This creature has protection from the chosen player.

Hullbreacher

Flash
If an opponent would draw a card except the first one they draw in each of their draw steps, instead you create a Treasure token. (It's an artifact with "{T}, Sacrifice this token: Add one mana of any color.")