Have

Wake Thrasher

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

Island

Merrow Commerce

At the beginning of your end step, untap all Merfolk you control.

Harbinger of the Tides

You may cast Harbinger of the Tides 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 Harbinger of the Tides enters, you may return target tapped creature an opponent controls to its owner's hand.

Merfolk Wayfinder

Flying
When Merfolk Wayfinder enters, reveal the top three cards of your library. Put all Island cards revealed this way into your hand and the rest on the bottom of your library in any order.

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.

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.

Lord of Atlantis

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

Tidal Warrior

{T}: Target land becomes an Island until end of turn.

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.

Turn Aside

Counter target spell that targets a permanent you control.

Merfolk Trickster

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

Vodalian Hexcatcher

Flash
Other Merfolk you control get +1/+1.
Sacrifice a Merfolk: Counter target noncreature spell unless its controller pays {1}.

Rishadan Dockhand

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

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.

Spreading Seas

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

Mutavault

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

True-Name Nemesis

As True-Name Nemesis enters, choose a player.
True-Name Nemesis has protection from the chosen player.

Merfolk Sovereign

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

Merrow Reejerey

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

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.)