Helm of the Ghastlord

Enchant creature
As long as enchanted creature is blue, it gets +1/+1 and has "Whenever this creature deals damage to an opponent, draw a card."
As long as enchanted creature is black, it gets +1/+1 and has "Whenever this creature deals damage to an opponent, that player discards a card."

Lightning Greaves

Equipped creature has haste and shroud. (It can't be the target of spells or abilities.)
Equip {0}

Sword of Hearth and Home

Equipped creature gets +2/+2 and has protection from green and from white.
Whenever equipped creature deals combat damage to a player, exile up to one target creature you own, then search your library for a basic land card. Put both cards onto the battlefield under your control, then shuffle.
Equip {2}

Unburial Rites

Return target creature card from your graveyard to the battlefield.
Flashback {3}{W} (You may cast this card from your graveyard for its flashback cost. Then exile it.)

Phyrexian Reclamation

{1}{B}, Pay 2 life: Return target creature card from your graveyard to your hand.

Island

Merrow Levitator

{T}: Target creature gains flying until end of turn.
Whenever you cast a blue spell, you may untap Merrow Levitator.

Herald of Secret Streams

Creatures you control with +1/+1 counters on them can't be blocked.

Wanderbrine Rootcutters

Wanderbrine Rootcutters can't be blocked by green creatures.

Negate

Merrow Grimeblotter

{1}{U/B}, {Q}: Target creature gets -2/-0 until end of turn. ({Q} is the untap symbol.)

Aquitect's Will

Put a flood counter on target land. That land is an Island in addition to its other types for as long as it has a flood counter on it. If you control a Merfolk, draw a card.

Morphic Pool

Morphic Pool enters tapped unless you have two or more opponents.
{T}: Add {U} or {B}.

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.

Plains

Sejiri Merfolk

As long as you control a Plains, Sejiri Merfolk has first strike and lifelink. (Damage dealt by a creature with lifelink also causes its controller to gain that much life.)

Return from Extinction

Choose one —
• Return target creature card from your graveyard to your hand.
• Return two target creature cards that share a creature type from your graveyard to your hand.

Kamiz, Obscura Oculus

Whenever you attack, target attacking creature can't be blocked this turn. It connives. Then choose another attacking creature with lesser power. That creature gains double strike until end of turn. (To have a creature connive, draw a card, then discard a card. If you discarded a nonland card, put a +1/+1 counter on that creature.)

Sword of Feast and Famine

Equipped creature gets +2/+2 and has protection from black and from green.
Whenever equipped creature deals combat damage to a player, that player discards a card and you untap all lands you control.
Equip {2}

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.)

Swiftfoot Boots

Equipped creature has hexproof and haste. (It can't be the target of spells or abilities your opponents control. It can attack and {T} no matter when it came under your control.)
Equip {1} ({1}: Attach to target creature you control. Equip only as a sorcery.)

Void Rend

This spell can't be countered.
Destroy target nonland permanent.

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.

Path to Exile

Exile target creature. Its controller may search their library for a basic land card, put that card onto the battlefield tapped, then shuffle.

Salvager of Secrets

When Salvager of Secrets enters, return target instant or sorcery card from your graveyard to your hand.

Ghastlord of Fugue

Ghastlord of Fugue can't be blocked.
Whenever Ghastlord of Fugue deals combat damage to a player, that player reveals their hand. You choose a card from it. That player exiles that card.

Elixir of Immortality

{2}, {T}: You gain 5 life. Shuffle Elixir of Immortality and your graveyard into their owner's library.

Disallow

Counter target spell, activated ability, or triggered ability. (Mana abilities can't be targeted.)

Silvergill Douser

{T}: Target creature gets -X/-0 until end of turn, where X is the number of Merfolk and/or Faeries you control.

Stonybrook Schoolmaster

Whenever Stonybrook Schoolmaster becomes tapped, you may create a 1/1 blue Merfolk Wizard creature token.

Sygg, River Cutthroat

At the beginning of each end step, if an opponent lost 3 or more life this turn, you may draw a card. (Damage causes loss of life.)

Life Insurance

Extort (Whenever you cast a spell, you may pay {W/B}. If you do, each opponent loses 1 life and you gain that much life.)
Whenever a nontoken creature dies, you lose 1 life and create a Treasure token.

Sword of Light and Shadow

Equipped creature gets +2/+2 and has protection from white and from black.
Whenever equipped creature deals combat damage to a player, you gain 3 life and you may return up to one target creature card from your graveyard to your hand.
Equip {2}

Aminatou, the Fateshifter

+1: Draw a card, then put a card from your hand on top of your library.
−1: Exile another target permanent you own, then return it to the battlefield under your control.
−6: Choose left or right. Each player gains control of all nonland permanents other than Aminatou, the Fateshifter controlled by the next player in the chosen direction.
Aminatou, the Fateshifter can be your commander.

Pact of Negation

Counter target spell.
At the beginning of your next upkeep, pay {3}{U}{U}. If you don't, you lose the game.

Counterspell

Gravelgill Duo

Whenever you cast a blue spell, Gravelgill Duo gets +1/+1 until end of turn.
Whenever you cast a black spell, Gravelgill Duo gains fear until end of turn. (It can't be blocked except by artifact creatures and/or black creatures.)

Tideshaper Mystic

{T}: Target land becomes the basic land type of your choice until end of turn. Activate only during your turn.

Inkfathom Infiltrator

Inkfathom Infiltrator can't block and can't be blocked.

Dire Undercurrents

Whenever a blue creature you control enters, you may have target player draw a card.
Whenever a black creature you control enters, you may have target player discard a card.

Gravelgill Axeshark

Persist (When this creature dies, if it had no -1/-1 counters on it, return it to the battlefield under its owner's control with a -1/-1 counter on it.)

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.

Sygg, River Guide

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
{1}{W}: Target Merfolk you control gains protection from the color of your choice until end of turn.

Veteran of the Depths

Whenever Veteran of the Depths becomes tapped, you may put a +1/+1 counter on it.

Reanimate

Put target creature card from a graveyard onto the battlefield under your control. You lose life equal to its mana value.

Lord of Atlantis

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

Inkfathom Witch

Fear (This creature can't be blocked except by artifact creatures and/or black creatures.)
{2}{U}{B}: Each unblocked creature has base power and toughness 4/1 until end of turn.

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.)

Darting Merfolk

{U}: Return Darting Merfolk to its owner's hand.

Mistcaller

Sacrifice Mistcaller: Until end of turn, if a nontoken creature would enter and it wasn't cast, exile it instead.

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.

Smothering Tithe

Whenever an opponent draws a card, that player may pay {2}. If the player doesn't, you create a Treasure token. (It's an artifact with "{T}, Sacrifice this artifact: Add one mana of any color.")

Leech Bonder

Leech Bonder enters with two -1/-1 counters on it.
{U}, {Q}: Move a counter from target creature onto a second target creature. ({Q} is the untap symbol.)

Whip of Erebos

Creatures you control have lifelink.
{2}{B}{B}, {T}: Return target creature card from your graveyard to the battlefield. It gains haste. Exile it at the beginning of the next end step. If it would leave the battlefield, exile it instead of putting it anywhere else. Activate only as a sorcery.

Refurbish

Return target artifact card from your graveyard to the battlefield.

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}.)

Merrow Bonegnawer

{T}: Target player exiles a card from their graveyard.
Whenever you cast a black spell, you may untap Merrow Bonegnawer.

Summon the School

Create two 1/1 blue Merfolk Wizard creature tokens.
Tap four untapped Merfolk you control: Return Summon the School from your graveyard to your hand.

Swords to Plowshares

Exile target creature. Its controller gains life equal to its power.

Change of Plans

Each of X target creatures you control connive. You may have any number of them phase out. (To have a creature connive, draw a card, then discard a card. If you discarded a nonland card, put a +1/+1 counter on that creature. Treat phased-out permanents and anything attached to them as though they don't exist until their controller's next turn.)

Arcane Signet

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

Deepchannel Mentor

Blue creatures you control can't be blocked.

Sol Ring

Judge of Currents

Whenever a Merfolk you control becomes tapped, you may gain 1 life.

Hollowsage

Whenever Hollowsage becomes untapped, you may have target player discard a card.